<SEC-DOCUMENT>0000891804-18-000292.txt : 20180709
<SEC-HEADER>0000891804-18-000292.hdr.sgml : 20180709
<ACCEPTANCE-DATETIME>20180709105949
ACCESSION NUMBER:		0000891804-18-000292
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20180430
FILED AS OF DATE:		20180709
DATE AS OF CHANGE:		20180709
EFFECTIVENESS DATE:		20180709

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nuveen AMT-Free Municipal Credit Income Fund
		CENTRAL INDEX KEY:			0001090116
		IRS NUMBER:				752998730
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09475
		FILM NUMBER:		18943731

	BUSINESS ADDRESS:	
		STREET 1:		333 WEST WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178146

	MAIL ADDRESS:	
		STREET 1:		333 WEST WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund
		DATE OF NAME CHANGE:	20160411

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN DIVIDEND ADVANTAGE MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20120106

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN INSURED DIVIDEND ADVANTAGE MUNICIPAL FUND
		DATE OF NAME CHANGE:	19990709
</SEC-HEADER>
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<TYPE>N-CSRS
<SEQUENCE>1
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<DESCRIPTION>NVG
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Investment Company Act file number <font style="TEXT-DECORATION: underline; DISPLAY: inline">811-09475</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen AMT-Free Municipal Credit Income Fund</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Exact name of registrant as specified in charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Investments</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">333 West Wacker Drive</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Chicago, IL 60606</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Address of principal executive offices) (Zip code)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Gifford R. Zimmerman</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Nuveen Investments</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">333 West Wacker Drive</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Chicago, IL 60606</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Name and address of agent for service)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date of fiscal year end:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">October&#160;31</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date of reporting period: <font style="TEXT-DECORATION: underline; DISPLAY: inline">April&#160;30, 2018</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 1. REPORTS TO STOCKHOLDERS.</div>

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<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Life is Complex.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Nuveen makes things e-simple.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">It only takes a minute to sign up for e-Reports. Once enrolled, you&#8217;ll receive an e-mail as soon as your Nuveen Fund information is ready&#8212;no more waiting for delivery by regular mail. Just click on the link within the e-mail to see the report and save it on your computer if you wish.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Free e-Reports right to your e-mail!</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>www.investordelivery.com</b><br>
 If you receive your Nuveen Fund dividends and statements from your financial advisor or brokerage account.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">or</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>www.nuveen.com/client-access</b><br>
 If you receive your Nuveen Fund dividends and statements directly from Nuveen.</p>

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<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Table of Contents</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; WIDTH: 66%">Chairman&#8217;s Letter to Shareholders</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 34%">4</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Portfolio Managers&#8217; Comments</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
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<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Fund Leverage</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Common Share Information</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Risk Considerations</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Performance Overview and Holding Summaries</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Portfolios of Investments</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Statement of Assets and Liabilities</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">119</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">Statement of Operations</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">120</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">Statement of Changes in Net Assets</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">121</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">Statement of Cash Flows</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">122</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">Financial Highlights</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">124</td>
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<td style="FONT-FAMILY: Arial">Notes to Financial Statements</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">130</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">Additional Fund Information</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">149</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Glossary of Terms Used in this Report</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">150</td>
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<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
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<td style="FONT-FAMILY: Arial">Reinvest Automatically, Easily and Conveniently</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">152</td>
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<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Chairman&#8217;s Letter to Shareholders</p>

<p style="COLOR: red; FONT: 9pt Arial; MARGIN: 8pt 0px 0px"><img src="william.jpg"></p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Dear Shareholders,</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The global synchronized expansion that drove markets to new highs in 2017 is beginning to show signs of fatigue. Against this backdrop, concerns about tightening financial conditions, potentially higher inflation and an array of geopolitical and policy risks have increased volatility across the financial markets in 2018 so far.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Despite the daily headlines, the global economy remains in solid shape. Even if the momentum is slowing, world economies are still expanding, recession probabilities are low and corporate profits have stayed healthy. Inflation remains relatively subdued, which should keep central banks on a gradual path of policy normalization. In the U.S., economic growth is expected to strengthen further, supported by low unemployment, incremental wage growth and fiscal stimulus from the newly enacted tax law changes.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Certainly there are risks that bear watching. Trade wars and tariffs have implications for both the supply and demand sides of the economy, complicating the outlook for businesses, consumers and the economy as a whole. North Korea relations, Iran and Russia sanctions, Italy&#8217;s new coalition government and Brexit negotiations are likely to continue triggering short-term turbulence in asset prices. The markets will also remain focused on central bank actions and communications.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The investment environment of 2018 will be more challenging than it was in 2017, but there is still opportunity for upside. Fundamentals, not headlines, drive markets over the long term. And, it&#8217;s easy to forget the relative calm over the past year was the outlier. A return to more historically normal volatility levels is both to be expected and part of the healthy functioning of the markets.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Context and perspective are important. If you&#8217;re investing for long-term goals, stay focused on the long term, as temporary bumps may smooth over time. Individuals that have shorter time-frames could also benefit from sticking to a clearly defined investment strategy with a portfolio designed for short-term needs. Your financial advisor can help you determine if your portfolio is properly aligned with your goals, timeline and risk tolerance, as well as help you differentiate the noise from what really matters. On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Sincerely,</p>

<p style="COLOR: red; FONT: 9pt Arial; MARGIN: 8pt 0px 0px"><img src="sign.jpg"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">William J. Schneider<br>
Chairman of the Board<br>
 June 25, 2018</p>

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<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Portfolio Manager&#8217;s Comments</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund (NVG) </b><br>
<b>Nuveen Enhanced Municipal Credit Opportunities Fund (NZF) </b><br>
<b>Nuveen Municipal High Income Opportunity Fund (NMZ)</b></p>

<p style="FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">These Funds feature portfolio management by Nuveen Asset Management, LLC (NAM), an affiliate of Nuveen, LLC. Portfolio managers John V. Miller, CFA, Paul L. Brennan, CFA, and Scott R. Romans, PhD discuss key investment strategies and the six-month performance of these three national Funds. Paul has managed NVG since 2006, Scott assumed portfolio management responsibility for NZF in 2016 and John has managed NMZ since its inception in 2003.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">What key strategies were used to manage these Funds during the six-month reporting period ended April 30, 2018?</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Interest rates rose during the six-month reporting period. The Federal Reserve (Fed) continued to raise its benchmark interest rate, putting upward pressure on the short end of the yield curve, while healthy economic growth and rising inflation expectations boosted yields at the long end of the curve. Shorter-term rates increased more than longer-term rates, resulting in a flatter yield curve during the reporting period. In this environment, municipal bond yields rose and prices fell (as yield and price move in opposite directions). However, given the backdrop of steady economic growth, credit fundamentals remained favorable, which helped credit spreads tighten. Municipal bond supply and demand technical conditions also continued to support the market. During this time, we continued to take a bottom-up approach to discovering sectors that appeared undervalued as well as individual credits that we believed had the potential to perform well over the long term.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Our trading activity continued to focus on pursuing the Funds&#8217; investment objectives. Generally speaking, throughout this reporting period, the Funds maintained their overall positioning strategies in terms of duration and yield curve positioning, credit quality exposures and sector allocations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">NVG and NZF bought bonds across a variety of sectors, with an emphasis on longer maturities (20 years and longer) and bonds with 10-year call structures. NVG added positions in health care, utilities, transportation and Illinois credits. In NZF, we modestly increased exposure to charter schools and Illinois, California and New York bonds. Elevated volatility in the California and New York markets during the reporting period provided a tactical opportunity to buy and hold these bonds until a more attractive opportunity arises. NZF bought a combination of below investment grade credits and high grade credits because there was a scarcity of compelling relative value in between (i.e., A rated credits). Additionally, the Funds&#8217; holdings in New Jersey tobacco settlement bonds were called in this reporting period and were partially replaced with new bonds issued in the refunding deal. NVG and NZF</p>

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<td style="FONT-FAMILY: Arial"><b>This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor&#8217;s objectives and circumstances and in consultation with his or her advisors.</b></td>
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<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio manager as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group (S&amp;P), Moody&#8217;s Investors Service, Inc. (Moody&#8217;s) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings, while BB, B, CCC, CC, C and D are below investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers&#8217; ability to meet their commitments.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</p>

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<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Portfolio Manager&#8217;s Comments (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">also executed trades to take advantage of the prevailing market conditions that provided attractive opportunities for tax loss swapping. This strategy involves selling bonds that were bought when interest rates were lower and using the proceeds to buy other bonds (typically at higher yield levels) to capitalize on the tax loss (which can be used to offset future taxable gains) and boost the Funds&#8217; income distribution capabilities.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Elevated call activity provided most of the proceeds for NVG&#8217;s and NZF&#8217;s buying activity. In addition, NVG sold some short maturity bonds during the reporting period, while NZF sold some California and New York positions that were held as short-term placeholders.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For NMZ, cash for new purchases was generated mainly from call activity and maturing bonds in the portfolio. We reinvested these proceeds across many of the longstanding investment themes in the portfolio, including charter schools, community development and health care bonds that we believe are well positioned for a strengthening economy. We bought bonds issued for Florida Development Finance Corp. (DFC) Brightline Rail Project, a high-speed passenger train connecting Miami, Fort Lauderdale and West Palm Beach (with plans to add Orlando) that is the first privately funded, constructed and operated rail line in the United States. We also added credits that were attractively priced during a surplus of supply issued toward the end of 2017 when issuers rushed their deals ahead of the tax legislation. During that time we bought an issue for North Carolina Charter Educational Foundation, which operates four charter schools north of Charlotte. NMZ, like NVG and NZF, owned a small position in New Jersey tobacco settlement bonds that were refunded during the reporting period and we bought some of the newly issued replacement bonds for NMZ as well.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of April 30, 2018, the Funds continued to use inverse floating rate securities. We employ inverse floaters for a variety of reasons, including duration management and income and total return enhancement. As part of our duration management strategies, NVG continued to invest in forward interest rates swaps to help reduce price volatility risk due to movements in U.S. interest rates relative to the Fund&#8217;s benchmark. The interest rate swaps had a positive impact on performance during this reporting period.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">How did the Funds perform during the six-month reporting period ended April 30, 2018?</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The tables in each Fund&#8217;s Performance Overview and Holding Summaries section of this report provide the Funds&#8217; total returns for the six-month, one-year, five-year and ten-year periods ended April 30, 2018. Each Fund&#8217;s total returns at net asset value (NAV) are compared with the performance of a corresponding market index.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For the six months ended April 30, 2018, the total returns at NAV for NZF trailed the return for the national S&amp;P Municipal Bond Index while NVG and NMZ outperformed the national index. NVG and NZF underperformed the return for the secondary benchmark (composed of 60% S&amp;P Municipal Bond Investment Grade Index and 40% S&amp;P Municipal Bond High Yield Index), and NMZ under-performed the return on the S&amp;P Municipal Yield Index.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Credit ratings allocation was the main driver of NVG and NZF&#8217;s relative outperformance in this reporting period. Lower quality bonds led high quality bonds during the reporting period, which was especially beneficial to the Funds&#8217; overweight allocations to BBB rated, below investment grade and non-rated bonds. The two Funds were also underweight the highest grade bonds (AAA and AA rated), which was advantageous to relative performance.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Yield curve and duration positioning contributed modest gains to NVG and NZF&#8217;s relative performance. The Funds were positioned with longer duration profiles than that of the benchmark, which was disadvantageous in the rising interest rate environment. However, yield curve positioning more than offset the negative impact, with outperformance from the Funds&#8217; overweight allocations to longer maturities.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">NVG&#8217;s and NZF&#8217;s sector allocations did not have a meaningful impact on relative performance in this reporting period. Tobacco settlement bonds were the best performing sector, benefiting the Funds&#8217; holdings there. However, the Funds&#8217; saw mixed performance in other sectors such as the tax-supported (including particular weakness in Illinois state general obligation bonds), utilities and transportation sectors.&#160;</p>

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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The performance of NMZ, which is primarily compared to the S&amp;P Municipal Yield Index, was largely driven by individual credits that performed well in this reporting period. The higher coupon bonds in which NMZ invests offer greater income, which buffers the negative impact of higher interest rates and makes the Fund&#8217;s return less sensitive to interest rate movements. The Florida Brightline Rail Project (mentioned in the key strategies discussion of this commentary) was a positive contributor as narrowing credit spreads helped the bonds appreciate despite the increase in interest rates. Optimism about the project&#8217;s chances for success (as the train&#8217;s grand opening to the public commenced on May 19, 2018, subsequent to the close of this reporting period) also helped the bonds perform well. NMZ also continued to see strong results from its holdings in the American Dreams Meadowlands Project, a mega-mall and entertainment complex under development in New Jersey. We bought the issue when it was out of favor due to investors&#8217; concerns about the recent decline in shopping malls. However, we believe the project&#8217;s entertainment and amusement facilities, as well as the strength of the developers, the tenants that have pre-leased and the financing package, support an attractive long-term growth opportunity. The bonds benefited from significant spread contraction over the reporting period. Like in NVG and NZF, NMZ&#8217;s holdings in tobacco settlement bonds contributed positively. These bonds were boosted by an acceleration in advance refundings across the sector. As older tobacco bonds were retired, issuers replaced them with higher quality, shorter-term bonds, improving the technical situation for the sector. NMZ&#8217;s holdings Buckeye Tobacco and Golden State Tobacco were outperformers in this reporting period. The Fund&#8217;s position in Chicago Board of Education, which oversees Chicago Public Schools, was another standout performer. Spreads on these bonds narrowed significantly after the state of Illinois passed school funding reforms that helped stabilize the school system&#8217;s financial condition and credit outlook.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Conversely, disappointing performance came from the Colorado Housing Finance Authority Colorado Senior Residences Project. We bought the bonds because we believe the weakness was caused by temporary factors and that the credit has the potential to turn around. A position in New Hope Cultural Education Facilities Finance Corporation Collegiate Housing Texas A&amp;M University credits also depreciated during the reporting period due to investor concerns about a slower-than-expected lease-up. However, recently improving leasing activity has helped support our positive long-term view on the credit.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">In addition, the use of regulatory leverage was an important factor affecting performance of the three Funds. Leverage is discussed in more detail later in the Fund Leverage section of this report.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">An Update on FirstEnergy Solutions Corp.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">FirstEnergy Solutions Corp. and all of its subsidiaries filed for protection under chapter 11 of the U.S. Bankruptcy Code. FirstEnergy Solutions and its subsidiaries specialize in coal and nuclear energy production. It is one of the main energy producers in the state of Ohio and a major energy provider in Pennsylvania. Because of the challenging market environment for nuclear and coal power in the face of inexpensive natural gas, FirstEnergy announced in late 2016 that it would begin a strategic review of its generation assets. FirstEnergy Solutions is a unique corporate issuer in that the majority of its debt was issued in the municipal market to finance pollution control and waste disposal for its coal and nuclear plants. We owned longer-maturity bonds issued by FirstEnergy Solutions, which had a negligible impact on performance for the reporting period as the issuer took steps toward seeking bankruptcy protection which occurred in late March 2018. A substantial amount of bondholders, of which Nuveen is included, entered into an &#8220;Agreement in Principal&#8221; with FirstEnergy Solutions&#8217; parent, FirstEnergy Corp., to resolve potential claims that bondholders may have against FirstEnergy Corp. The agreement is subject to the approval of the FirstEnergy Corp. board of directors, FirstEnergy Solutions and the bankruptcy court.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">In terms of FirstEnergy holdings, shareholders should note that NVG had 1.73%, NZF had 1.20% and NMZ had 0.97% exposure, which was a mix of unsecured and secured holdings.</p>

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<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Fund Leverage</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">IMPACT OF THE FUNDS&#8217; LEVERAGE STRATEGIES ON PERFORMANCE</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">One important factor impacting the returns of the Funds relative to their comparative benchmarks was the Funds&#8217; use of leverage through their issuance of preferred shares and/or investments in inverse floating rate securities, which represent leveraged investments in underlying bonds. The Funds use leverage because our research has shown that, over time, leveraging provides opportunities for additional income, particularly in the recent market environment where short-term market rates are at or near historical lows, meaning that the short-term rates the Fund has been paying on its leveraging instruments have been much lower than the interest the Fund has been earning on its portfolio of long-term bonds that it has bought with the proceeds of that leverage. However, use of leverage also can expose the Fund to additional price volatility. When a Fund uses leverage, the Fund will experience a greater increase in its net asset value if the municipal bonds acquired through the use of leverage increase in value, but it will also experience a correspondingly larger decline in its net asset value if the bonds acquired through leverage decline in value, which will make the Fund&#8217;s net asset value more volatile, and its total return performance more variable over time. In addition, income in levered funds will typically decrease in comparison to unlevered funds when short-term interest rates increase and increase when short-term interest rates decrease. Leverage had a positive impact on the performance of NVG and NZF while leverage had a negative impact on the performance of NMZ over this reporting period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of April 30, 2018, the Funds&#8217; percentages of leverage are as shown in the accompanying table.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
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<td style="FONT-FAMILY: Arial">Effective Leverage*</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">39.61%</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">39.19%</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">38.39%</td>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Regulatory Leverage*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">36.06%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">38.37%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.38%</td>
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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<td style="FONT-FAMILY: Arial; WIDTH: 4%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 96%">Effective Leverage is a Fund&#8217;s effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund&#8217;s portfolio that increase the Fund&#8217;s investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Regulatory leverage consists of preferred shares issued or borrowings of a Fund. Both of these are part of a Fund&#8217;s capital structure. A Fund, however, may from time to time borrow on a typically transient basis in connection with its day-to-day operations, primarily in connection with the need to settle portfolio trades. Such incidental borrowings are excluded from the calculation of a Fund&#8217;s effective leverage ratio. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.</td>
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<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">THE FUNDS&#8217; REGULATORY LEVERAGE</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of April 30, 2018, the Funds have issued and outstanding preferred shares as shown in the accompanying table.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>Variable Rate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>Variable Rate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>Remarketed</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right" colspan="2"><b>Preferred</b></td>
<td style="FONT-FAMILY: Arial"><b>*</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right" colspan="2"><b>Preferred</b></td>
<td style="FONT-FAMILY: Arial"><b>**</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>Shares Issued</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>Shares Issued at</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>at Liquidation</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>at Liquidation</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 54%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"><b>Preference</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"><b>Preference</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"><b>Total</b></td>
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<td style="FONT-FAMILY: Arial">NVG</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">764,400,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,052,600,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,817,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">NZF</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,172,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">196,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,368,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">NMZ</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zdd3d6af8ff624abe85493954e5b9e352" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 4%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 96%">Preferred shares of the Fund featuring a floating rate dividend based on a predetermined formula or spread to an index rate. Includes the following preferred shares AMTP, iMTP, VMTP, MFP-VRM and VRDP in Special Rate Mode, where applicable. See Notes to Financial Statements, Note 4 &#8211; Fund Shares, Preferred Shares for further details.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">Preferred shares of the Fund featuring floating rate dividends set by a remarketing agent via a regular remarketing. Includes the following preferred shares VRDP not in special rate mode, MFP-VRRM and MFP-VRDM, where applicable. See Notes to Financial Statements, Note 4 &#8211; Fund Shares, Preferred Shares for further details.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Refer to Notes to Financial Statements, Note 4 &#8211; Fund Shares, Preferred Shares and Note 10 &#8211; Subsequent Events, Preferred Shares for further details on preferred shares and each Funds&#8217; respective transactions.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">8</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Common Share Information</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">COMMON SHARE DISTRIBUTION INFORMATION</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The following information regarding the Funds&#8217; distributions is current as of April 30, 2018. Each Fund&#8217;s distribution levels may vary over time based on each Fund&#8217;s investment activity and portfolio investments value changes.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current reporting period, each Fund&#8217;s distributions to common shareholders were as shown in the accompanying table.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb4a4f1d07ada43699b7b54ee6478bcf1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>Per Common Share Amounts</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>Monthly Distributions (Ex-Dividend Date)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">November 2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0740</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">December</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">January</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">February</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">March</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.0600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">April 2018</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0725</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0600</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Total Monthly Per Share Distributions</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4240</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.3800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Ordinary Income Distribution*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0059</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0097</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0091</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total Distributions</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.4409</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.4337</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.3891</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Yields</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Market Yield**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.90</td>
<td style="FONT-FAMILY: Arial">%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.94</td>
<td style="FONT-FAMILY: Arial">%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.80</td>
<td style="FONT-FAMILY: Arial">%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Taxable-Equivalent Yield**</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">7.76</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">7.82</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">7.63</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z4bf87929ebda4a329b05c6cf8292cd50" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 4%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 96%">Distribution paid in December 2017.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">Market Yield is based on the Fund&#8217;s current annualized monthly dividend divided by the Fund&#8217;s current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 24.0%. When comparing a Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield would be lower.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund in this report seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit each Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. If a Fund has cumulatively earned more than it has paid in dividends, it will hold the excess in reserve as undistributed net investment income (UNII) as part of the Fund&#8217;s net asset value. Conversely, if a Fund has cumulatively paid in dividends more than it has earned, the excess will constitute a negative UNII that will likewise be reflected in the Fund&#8217;s net asset value. Each Fund will, over time, pay all its net investment income as dividends to shareholders.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of April 30, 2018, all the Funds had positive UNII balances, based upon our best estimate, for tax purposes. NVG had a negative UNII balance while NZF and NMZ had positive UNII balances for financial reporting purposes.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">All monthly dividends paid by each Fund during the current reporting period were paid from net investment income. If a portion of the Fund&#8217;s monthly distributions was sourced from or comprised of elements other than net investment income, including capital gains and/or a return of capital, shareholders would have received a notice to that effect. For financial reporting purposes, the composition and per share amounts of each Fund&#8217;s dividends for the reporting period are presented in this report&#8217;s Statement of Changes in Net Assets and Financial Highlights, respectively. For income tax purposes, distribution information for each Fund as of its most recent tax year end is presented in Note 6 &#8212; Income Tax Information within the Notes to Financial Statements of this report.</p>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">9</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Common Share Information (continued)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">COMMON SHARE EQUITY SHELF PROGRAM</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current reporting period, NMZ was authorized by the Securities and Exchange Commission to issue additional common shares through an equity shelf program (Shelf Offering). Under this program, NMZ, subject to market conditions, may raise additional capital from time to time in varying amounts and offering methods at a net price at or above the Fund&#8217;s NAV per common share. The total amount of common shares under these Shelf Offerings, are as shown in the accompanying table.&#160;</p>

<table id="z668ee7f355b04c77bd59ea085b179be6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 86%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Additional authorized common shares</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15,700,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current reporting period, NMZ sold common shares through its Shelf Offering at a weighted average premium to its NAV per common share as shown in the accompanying table.</p>

<table id="z92aecbbe733e425ba52aa77b4be40ea3" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 86%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Common shares sold through Shelf Offering</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">669,588</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Weighted average premium to NAV per common share sold</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.13</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Refer to Notes to Financial Statements, Note 4 &#8211; Fund Shares, Common Shares Equity Shelf Programs and Offering Costs for further details of Shelf Offerings and the Fund&#8217;s transactions.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">COMMON SHARE REPURCHASES</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During August 2017, the Funds&#8217; Board of Trustees reauthorized an open-market share repurchase program, allowing each Fund to repurchase an aggregate of up to approximately 10% of its outstanding shares.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of April 30, 2018, and since the inception of the Funds&#8217; repurchase programs, the Funds have cumulatively repurchased and retired their outstanding common shares as shown in the accompanying table.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zc719ca800259460cbe52276d68bddbe8" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Common shares cumulatively repurchased and retired</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Common shares authorized for repurchase</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,255,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,215,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,745,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">OTHER COMMON SHARE INFORMATION</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of April 30, 2018, and during the current reporting period, the Funds&#8217; common share prices were trading at a premium/(discount) to their common share NAVs as shown in the accompanying table.</p>

<table id="z9a35ba81b5a444f68035aca13ba1c6e2" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Common share NAV</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.91</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.46</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.12</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Common share price</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.15</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12.41</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Premium/(Discount) to NAV</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(7.29</td>
<td style="FONT-FAMILY: Arial">)%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(8.47</td>
<td style="FONT-FAMILY: Arial">)%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(5.41</td>
<td style="FONT-FAMILY: Arial">)%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">6-month average premium/(discount) to NAV</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(8.11</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(7.41</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(1.59</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)%</td>
</tr>
</table>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">10</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Risk Considerations</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Nuveen AMT-Free Municipal Credit Income Fund (NVG)</b><br>
Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund&#8217;s investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. <b>Debt or fixed income securities </b>such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. <b>Lower credit debt </b>securities may be more likely to fail to make timely interest or principal payments. <b>Leverage </b>increases return volatility and magnifies the Fund&#8217;s potential return and its risks; there is no guarantee a fund&#8217;s leverage strategy will be successful. These and other risk considerations such as <b>inverse floater risk </b>and <b>tax risk </b>are described in more detail on the Fund&#8217;s web page at www.nuveen.com/NVG.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Nuveen Municipal Credit Income Fund (NZF)</b><br>
Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund&#8217;s investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. <b>Debt or fixed income securities </b>such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. <b>Lower credit debt </b>securities may be more likely to fail to make timely interest or principal payments. <b>Leverage </b>increases return volatility and magnifies the Fund&#8217;s potential return and its risks; there is no guarantee a fund&#8217;s leverage strategy will be successful. These and other risk considerations such as <b>inverse floater risk </b>and <b>tax risk </b>are described in more detail on the Fund&#8217;s web page at www.nuveen.com/NZF.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Nuveen Municipal High Income Opportunity Fund (NMZ)</b><br>
Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund&#8217;s investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. <b>Debt or fixed income securities </b>such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. <b>Lower credit debt </b>securities may be more likely to fail to make timely interest or principal payments. <b>Leverage </b>increases return volatility and magnifies the Fund&#8217;s potential return and its risks; there is no guarantee a fund&#8217;s leverage strategy will be successful. These and other risk considerations such as <b>inverse floater risk </b>and <b>tax risk </b>are described in more detail on the Fund&#8217;s web page at www.nuveen.com/NMZ.</p>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">11</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zd732abe2640945ea8e924111c7ebe39a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Income Fund </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Performance Overview and Holding Summaries as of April 30, 2018</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Average Annual Total Returns as of April 30, 2018</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb65cf571c1af45488b83ce42a46f5591" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><b>Cumulative</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="4"><b>Average Annual</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 58%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>6-Month</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>1-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>5-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>10-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">NVG at Common Share NAV</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(0.25)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.13%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.95%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.41%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">NVG at Common Share Price</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.15%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.39%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.79%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.10%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">S&amp;P Municipal Bond Index</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(0.76)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.44%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.48%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.26%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">NVG Custom Blended Fund Performance Benchmark</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.65%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.08%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3.12%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4.87%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund&#8217;s shares at NAV only. Indexes are not available for direct investment.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Common Share Price Performance &#8212; Weekly Closing Price</p>

<p style="COLOR: red; FONT: 9pt Arial; MARGIN: 8pt 0px 0px"><img src="nvg.jpg"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">12</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">This data relates to the securities held in the Fund&#8217;s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The ratings disclosed are the lowest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z53ecac4d3f514bdb94bf2126d1321ebd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>Fund Allocation</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of net assets)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Long-Term Municipal Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">159.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Corporate Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Short-Term Municipal Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other Assets Less Liabilities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>Net Assets Plus Floating Rate Obligations, MFP Shares, net of deferred offering costs &amp; VRDP Shares, net of deferred offering costs</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>162.3%</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Floating Rate Obligations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(6.0)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">MFP Shares, net of deferred offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(12.6)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">VRDP Shares, net of deferred offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(43.7)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Net Assets</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zad724389041d46fc82f3fb20970acb85" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>Portfolio Credit Quality</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total investment exposure)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">U.S. Guaranteed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AAA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">22.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">BB or Lower</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">N/R (not rated)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.9%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zba40f2598ea742699896464599c809bf" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>Portfolio Composition</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total investments)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Health Care</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax Obligation/Limited</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">17.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Transportation</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax Obligation/General</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">U.S. Guaranteed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Education and Civic Organizations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Utilities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Consumer Staples</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z39eeea29e5c349758b17ecc191680c5c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>States and Territories</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total municipal bonds)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Illinois</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">16.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">California</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Texas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Ohio</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Colorado</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Florida</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Pennsylvania</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">New Jersey</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">New York</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Wisconsin</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Georgia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Indiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Iowa</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Arizona</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.9%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Michigan</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Kentucky</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">South Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Massachusetts</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">13</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zceee5baf5dfc446ab5ba74ca315ac02c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Performance Overview and Holding Summaries as of April 30, 2018</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Average Annual Total Returns as of April 30, 2018</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zaad3e1b85e52476294c5e4fab44ba354" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><b>Cumulative</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="4"><b>Average Annual</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 58%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>6-Month</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>1-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>5-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>10-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">NZF at Common Share NAV</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(0.87)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.20%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.54%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.62%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">NZF at Common Share Price</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(2.88)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.04%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.02%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.76%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">S&amp;P Municipal Bond Index</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(0.76)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.44%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.48%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.26%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">NZF Custom Blended Fund Performance Benchmark</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.65%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.08%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3.12%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4.87%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund&#8217;s shares at NAV only. Indexes are not available for direct investment.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Common Share Price Performance &#8212; Weekly Closing Price</p>

<p style="COLOR: red; FONT: 9pt Arial; MARGIN: 8pt 0px 0px"><img src="nzf.jpg"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">14</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">This data relates to the securities held in the Fund&#8217;s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The ratings disclosed are the lowest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z079a5dd0100348748bc8a4e32be8f8bd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>Fund Allocation</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of net assets)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Long-Term Municipal Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">161.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Investment Companies</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Corporate Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other Assets Less Liabilities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>Net Assets Plus Floating Rate Obligations, MFP Shares, net of deferred offering costs, VMTP Shares, net of deferred offering costs &amp; VRDP Shares, net of deferred offering costs</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>163.2%</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Floating Rate Obligations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(1.1)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">MFP Shares, net of deferred offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(13.9)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">VMTP Shares, net of deferred offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(15.3)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">VRDP Shares, net of deferred offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(32.9)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Net Assets</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z12d52ff9d8a94a68acaca1a3723b1a8f" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>Portfolio Credit Quality</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total investment exposure)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">U.S. Guaranteed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AAA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.9%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">22.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">BB or Lower</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">N/R (not rated)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">N/A (Not Applicable)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z49da08a6107840c29de5b06d7289f8ca" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>Portfolio Composition</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total investments)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax Obligation/Limited</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">17.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax Obligation/General</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Transportation</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Health Care</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">U.S. Guaranteed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Consumer Staples</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Utilities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Education and Civic Organizations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z8c73455d60754f738061561f2b560f67" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 92%"><b>States and Territories</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total municipal bonds)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Illinois</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">California</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">New York</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Texas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Ohio</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Colorado</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Pennsylvania</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.9%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Indiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Florida</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">New Jersey</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Massachusetts</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Arizona</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Michigan</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">15</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z9c89ba4056914b6bbe9550d69cd062c7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 87%"><b>Nuveen Municipal High Income </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Opportunity Fund </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td>&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Performance Overview and Holding Summaries as of April 30, 2018</b></td>
</tr>
</table>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Average Annual Total Returns as of April 30, 2018</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zc7aa74f22b9e443da34160affc1c83ed" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"><b>Cumulative</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="4"><b>Average Annual</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 58%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>6-Month</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>1-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>5-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>10-Year</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">NMZ at Common Share NAV</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.27%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.30%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.83%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.32%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">NMZ at Common Share Price</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(5.51)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(0.38)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.55%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.36%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">S&amp;P Municipal Yield Index</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.32%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.02%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.15%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.63%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">S&amp;P Municipal Bond High Yield Index</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3.17%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3.16%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.29%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.90%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">S&amp;P Municipal Bond Index</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.76)%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.44%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.48%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4.26%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund&#8217;s shares at NAV only. Indexes are not available for direct investment.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Common Share Price Performance &#8212; Weekly Closing Price</p>

<p style="COLOR: red; FONT: 9pt Arial; MARGIN: 8pt 0px 0px"><img src="nmz.jpg"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">16</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">This data relates to the securities held in the Fund&#8217;s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The ratings disclosed are the lowest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z868dcfd1657949439ea7f30469e55123" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 89%"><b>Fund Allocation</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of net assets)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Long-Term Municipal Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">142.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Common Stocks</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Corporate Bonds</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other Assets Less Liabilities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Net Assets Plus Floating Rate Obligations &amp; AMTP Shares, net of deferred offering costs</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>146.2%</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Floating Rate Obligations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(35.9)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AMTP Shares, net of deferred offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(10.3)%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Net Assets</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z35cd3f3a24154c46aaecbd15d0bb345a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 89%"><b>Portfolio Credit Quality</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total investment exposure)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">U.S. Guaranteed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AAA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">AA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">BB or Lower</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">22.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">N/R (not rated)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">N/A (Not Applicable)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">0.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z7706e0322d9f4253b690da085bbca34d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 89%"><b>Portfolio Composition</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total investments)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax Obligation/Limited</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Health Care</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19.9%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Education and Civic Organizations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14.1%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax Obligation/General</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Transportation</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Consumer Staples</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Industrials</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15.2%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zbce9676f0f514ad492e5c319b197c3f0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 89%"><b>States and Territories</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>(% of total municipal bonds)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">California</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Illinois</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Florida</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">New York</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8.0%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Colorado</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.4%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">New Jersey</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.9%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Ohio</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Kentucky</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4.5%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Texas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tennessee</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Wisconsin</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Washington</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.8%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Arizona</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.7%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Missouri</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1.6%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18.3%</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>100%</b></td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">17</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="MARGIN: 0px"></p>

<table id="zf8ef34985b3d483bbff9c0bc54854dd4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial"><b>Portfolio of Investments</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6b672bc36b1044339ebfc178057ae939" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>LONG-TERM INVESTMENTS &#8211; 159.8% (99.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>MUNICIPAL BONDS &#8211; 159.5% (99.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Alabama &#8211; 1.3% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,645</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alabama Private Colleges and University Facilities Authority, Limited Obligation Bonds, University of Mobile Project, Series 2015A, 6.000%, 9/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,620,433</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,655</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,860,901</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015, 5.875%, 4/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,997,211</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Opelika Utilities Board, Alabama, Utility Revenue Bonds, Series 2011B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 6/01/29 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,302,212</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.250%, 6/01/31 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,046,410</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">The Improvement District of the City of Mobile &#8211; McGowin Park Project, Alabama, Sales Tax Revenue Bonds, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 8/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,024,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/01/35</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,327,170</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">38,950</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Alabama</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">43,178,447</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Alaska &#8211; 0.8% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,010</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,010,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">17,995</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">17,994,280</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">25,005</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Alaska</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">25,004,490</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arizona &#8211; 3.1% (1.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,230</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,530,668</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,475</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017D, 5.000%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,507,553</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project, Refunding Senior Series 2012A, 5.000%, 7/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,588,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona State, Certificates of Participation, Department of Administration Series 2010B, 5.000%, 10/01/29 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,157,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Arizona State, Certificates of Participation, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 10/01/28 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,252,884</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 10/01/29 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,560,045</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,070</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/29 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,396,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,390</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cahava Springs Revitalization District, Cave Creek, Arizona, Special Assessment Bonds, Series 2017A, 7.000%, 7/01/41, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,439,867</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,780</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/40 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,261,426</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,350</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2008A, 5.000%, 7/01/33 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,362,713</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,803,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,755</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/39 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,497,154</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">620</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">636,858</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,025</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,044,075</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">18</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z8cc40b6972024ac08d1156a9886602cb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arizona </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,065</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Industrial Development Authority, Arizona, Multifamily Housing Revenue Bonds, Deer Valley Veterans Assisted Living Project, Series 2016A, 5.125%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,015,977</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pima County Industrial Development Authority, Arizona, Education Facility Revenue and Refunding Bonds, Edkey Charter Schools Project, Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">490</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">458,282</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">610</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">547,878</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">350</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">310,079</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,425</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2014A, 7.375%, 7/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,351,057</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,130</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,007,474</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,850</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,600,638</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,135</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,842,227</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">885</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2016, 6.500%, 2/01/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">832,971</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,050</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2017., 6.750%, 2/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,952,888</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">105</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Noah Webster Schools Pima Project, Series 2014A, 7.250%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">99,861</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,069,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,965</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,260,587</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,235</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,470,232</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">The Industrial Development Authority of the County of Maricopa, Arizona, Education Revenue Bonds, Reid Traditional School Projects, Series 2016, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">829,216</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Yavapai County Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yavapai Regional Medical Center, Series 2013A, 5.250%, 8/01/33</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,196,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">91,490</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Arizona</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">99,882,720</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arkansas &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer Research Center Project, Series 2006:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/36 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,177,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,460</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/46 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,820,461</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">22,960</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Arkansas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,997,711</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California &#8211; 16.4% (10.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">45</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 10/01/20 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">42,049</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,120</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 10/01/20 &#8211; AMBAC Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,023,943</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,135</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Capital Appreciation Series 2009B, 0.000%, 8/01/30 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,138,671</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,550</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,221,788</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A, 5.000%, 3/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,311,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.000%, 4/01/38 (Pre-refunded 4/01/23)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,673,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">19</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zbe39a814ff684aac96420c4be918802b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd14d30e028c7468c9dc5d4d9ebe91a66" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,275</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.450%, 6/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,312,269</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,975</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.650%, 6/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,992,552</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,040</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2007, 5.000%, 3/15/39 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,564,658</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,085</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2014U-6, 5.000%, 5/01/45 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">32,138,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,465</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 2016U-7, 5.000%, 6/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,313,566</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children&#8217;s Hospital, Series 2012A, 5.000%, 8/15/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,836,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,600</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,776,208</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,665</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Series 2015A, 5.000%, 8/15/54 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,307,239</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Tender Option Bond Trust 2016-XG0049:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,650</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.708%, 8/15/51, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,942,562</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,075</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.708%, 8/15/51, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,797,538</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,555</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.703%, 8/15/51, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,830,468</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2013A, 5.000%, 8/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,429,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,065</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/31, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,202,649</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,031,030</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">555</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/41, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">568,037</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">195</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">198,916</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Municipal Finance Authority, Education Revenue Bonds, American Heritage Foundation Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">260</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">281,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">435</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">466,942</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,335</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,522,571</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,440</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Series 2012, 5.000%, 11/21/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,521,874</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,050</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017, 5.000%, 10/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,212,544</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">735</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep &#8211; Obligated Group, Series 2016, 5.000%, 6/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">748,171</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">715</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California School Finance Authority, Charter School Revenue Bonds, Rocketship Education &#8211; Obligated Group, Series 2016A, 5.000%, 6/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">737,758</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">570</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California School Finance Authority, Charter School Revenue Bonds, Rocketship Education Obligated Group, Series 2017A, 5.125%, 6/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">589,597</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State, General Obligation Bonds, Series 2002, 5.000%, 10/01/32 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80,208</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 &#8211; AMBAC Insured California State, General Obligation Bonds, Various Purpose Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,013</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 3/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,721,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,858,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">20</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zadf9ee4812e14043b8bf1d5bd2c9eade" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,710</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.500%, 12/01/54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,696,423</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">62,605</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 5.250%, 12/01/56, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">66,670,569</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 4.000%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,083,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series 2011A, 6.000%, 8/15/42 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,647,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,535</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/30 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,535,491</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,430</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/35 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,430,266</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,600</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 (Pre-refunded 7/01/18) &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,624,228</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clovis Unified School District, Fresno County, California, General Obligation Bonds, Series 2001A, 0.000%, 8/01/25 &#8211; FGIC Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,137,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,400</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Coachella Valley Unified School District, Riverside County, California, General Obligation Bonds, Election 2005 Series 2010C, 0.000%, 8/01/33 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,923,822</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,375</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Capital Appreciation, Election 2006 Refunding Series 2009C, 0.000%, 8/01/39 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,883,256</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">El Rancho Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2010 Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,615</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/31 &#8211; AGM Insured (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,514,610</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,600</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/34 &#8211; AGM Insured (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,443,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,960</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/15/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,096,939</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/15/35 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,505,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">910</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/15/42 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">808,344</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,610</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 1/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,106,339</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,610</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/15/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,687,099</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,425</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,449,977</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,075</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,303,938</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,830</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,083,686</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,565</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,564,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kern Community College District, California, General Obligation Bonds, Safety, Repair &amp; Improvement, Election 2002 Series 2006:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,600</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/24 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,707,472</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,795</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/25 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,711,509</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,195</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lincoln Public Financing Authority, Placer County, California, Twelve Bridges Limited Obligation Revenue Bonds, Refunding Series 2011A, 4.375%, 9/02/25 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,259,136</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,575</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/35 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,071,665</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,310</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B, 6.500%, 11/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,584,648</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Oceanside Unified School District, San Diego County, California, General Obligation Bonds, Capital Appreciation, 2008 Election Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,905</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/26 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,660,698</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,220</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/28 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,605,127</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">21</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z31b6edd535e7426c8f9ba110c1424933" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z96f671415ccb4831a139b85f167baa8f" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,340</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Series 1993, 5.850%, 8/01/22 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,523,456</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Orange County, California, Special Tax Bonds, Community Facilities District 2015-1 Esencia Village, Series 2015A, 4.250%, 8/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,141,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/30 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,482,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,700</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/25 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,941,648</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,875</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 &#8211; AGC Insured (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/29 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,582,379</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,145</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/30 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,886,271</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,150</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Refunding Series 2011, 6.250%, 10/01/28 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,738,013</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">670</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">741,891</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1 Marblehead Coastal, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">490</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">528,587</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">915</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">982,811</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,830</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 2015-XF0098, 14.934%, 8/01/39, 144A (Pre-refunded 8/01/19) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,167,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose, Second Series 2013B, 5.000%, 5/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,355,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">66,685</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Senior Lien Toll Road Revenue Bonds, Series 1993, 0.000%, 1/01/21 (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">63,175,368</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,680</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,903,190</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,275</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,933,442</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,210</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/23 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,332,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,250</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Mateo County Community College District, California, General Obligation Bonds, Series 2006C, 0.000%, 9/01/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,221,375</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,325</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997 Election Series 2012G, 0.000%, 8/01/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,272,614</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,690</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,764,924</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,625</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 7/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,452,381</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,625</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 7/01/24 (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,561,731</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saugus Union School District, Los Angeles County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/23 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,081,785</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,495</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Stockton-East Water District, California, Certificates of Participation, Refunding Series 2002B, 0.000%, 4/01/28 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,478,363</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">610</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017, 6.250%, 9/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">615,941</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,175</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 6/01/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,175,247</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,600</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,599,968</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">22</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
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<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z02f9d6d0f1de4c9d80016ce8495018a1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,105</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 6/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,107,376</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,865</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">B+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,875,088</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">539,560</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total California</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">527,818,875</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado &#8211; 10.1% (6.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 10/01/32 &#8211; SYNCORA GTY Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">751,455</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 10/01/40 &#8211; SYNCORA GTY Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080,011</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Base Village Metropolitan District 2, Colorado, General Obligation Bonds, Refunding Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">890</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">907,159</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,175</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,197,466</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Belleview Station Metropolitan District 2, Denver City and County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Refunding &amp; Improvement Series 2017, 5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,118,447</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2017A., 5.000%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">712,782</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,410</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Canyons Metropolitan District 5, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding &amp; Improvement Series 2017A, 6.125%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,433,393</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,690</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Canyons Metropolitan District 6, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding &amp; Improvement Series 2017A, 6.125%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,675,077</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding &amp; Improvement Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,140</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,167,394</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,465</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,543,915</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">195</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014, 5.000%, 12/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">206,661</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clear Creek Station Metropolitan District 2, Adams County, Colorado, Limited Tax General Obligation Refunding &amp; Improvement Series 2017A, 5.000%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,212,012</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,180</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Flagstaff Academy Project, Refunding Series 2016, 3.625%, 8/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,118,876</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,165</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, The Classical Academy Project, Refunding Series 2015A, 5.000%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,266,891</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,350</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Vanguard School Project, Refunding &amp; Improvement Series 2016, 3.750%, 6/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,127,889</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Weld County School District 6 &#8211; Frontier Academy, Refunding &amp; Improvement Series 2016, 3.250%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,532,422</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,460</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,659,309</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,470</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,278,598</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Hospital Revenue Bonds, Parkview Medical Center, Series 2016, 3.125%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,515,495</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,680</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.500%, 9/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,684,195</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A, 5.000%, 2/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,123,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,520</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,252,442</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">23</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf23845e3b3724bb8983669547da8e292" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z1140027d318d4eec9632fb5d36816beb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Retirement Communities Inc., Refunding Series 2012B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,640</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,819,383</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,895</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,202,391</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,200</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,630,626</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,410</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,522,306</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,152,860</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,855</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,246,231</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,145</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,472,428</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">765</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">857,932</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">720</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 6/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">801,612</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,035</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Frasier Meadows Project, Refunding &amp; Improvement Series 2017A, 5.250%, 5/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200,629</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,028,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,830</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,320,472</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017, 5.000%, 12/31/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,781,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,605</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding &amp; Improvement Series 2018., 5.875%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,748,731</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Copperleaf Metropolitan District 2, Arapahoe County, Colorado, General Obligation Bonds, Refunding Limited Tax Convertible to Unlimited Tax Series 2015, 5.750%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">523,490</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Copperleaf Metropolitan District 2, Colorado, General Obligation Limited Tax Bonds, Series 2006, 5.250%, 12/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">524,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,480</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017A , 5.250%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,525,643</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,275</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017B , 5.250%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,310,228</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Crystal Crossing Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 5.250%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">503,395</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,640</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,587,598</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">505</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Denver Connection West Metropolitan District, City and County of Denver, Colorado, Limited Tax General Obligation Bonds, Convertible to Unlimited Tax Series 2017A, 5.375%, 8/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">503,111</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,700</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Capital Appreciation Series 2010A, 0.000%, 9/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,686,669</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">35,995</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/23 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">31,463,589</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,525</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/26 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,041,672</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,030</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/25 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,749,852</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,915</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/32 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,863,037</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">43,090</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/33 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,342,403</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/27 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,736,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/28 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">810,129</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/34 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,785,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie Highlands Metropolitan District No. 1 (In the Town of Erie), Weld County, Colorado, General Obligation Limited Tax Bonds, Series 2015A, 5.750%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">506,870</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">24</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zeb07fcfc68e149d2880356187a839c8b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Flatiron Meadows Metropolitan District, Boulder County, Colorado, General Obligation Limited Tax Bonds, Series 2016, 5.125%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">486,455</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014, 6.000%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">602,809</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">825</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Forest Trace Metropolitan District 3, Aurora City, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2016A, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">799,359</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,355</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Great Western Park Metropolitan District 2, Broomfield City and County, Colorado, General Obligation Bonds, Series 2016A, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,357,195</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Green Gables Metropolitan District No. 1, Jefferson County, Colorado, General Obligation Bonds, Series 2016A, 5.300%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">753,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harmony Technology Park Metropolitan District 2, Fort Collins, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Series 2017, 5.000%, 9/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">691,439</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,740</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Revenue Bonds, Refunding Series 2015, 5.500%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,666,995</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,325</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,226,466</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,955</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,498,116</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Lambertson Farms Metropolitan District 1, Colorado, Revenue Bonds, Refunding &amp; Improvement Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,005</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,008,749</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,355</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,374,813</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">980</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Leyden Rock Metropolitan District No. 10, In the City of Arvada, Colorado, Limited Tax General Obligation Bonds, Refunding and Improvement Series 20016A, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">994,778</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Littleton Village Metropolitan District No. 2, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Series 2015, 5.375%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">860</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mountain Shadows Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 5.000%, 12/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">882,885</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,155</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Range Metropolitan District 1, Adams County, Colorado, General Obligation Bonds, Series 2016B, 3.500%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,900,498</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Range Metropolitan District No. 2 , In the City of Commerce City, Adams County, Colorado, Limited Tax General Obligation and Special Revenue and Improvement Bonds, Refunding Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,003,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,004,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">585</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Overlook Metropolitan District in the Town of Parker, Douglas County, Colorado, General Obligation Limited Tax Bonds, Series 2016A, 5.500%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">561,401</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Park 70 Metropolitan District, City of Aurora, Colorado, General Obligation Refunding and Improvement Bonds, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">660</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">695,746</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,060</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,111,187</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">660</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">723,558</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">880</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">970,605</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,435</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Poudre Tech Metro District, Colorado, Unlimited Property Tax Supported Revenue Bonds, Refunding &amp; Improvement Series 2010A, 5.000%, 12/01/39 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,682,184</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,760</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Prairie Center Metropolitan District No. 3, In the City of Brighton, Adams County, Colorado, Limited Property Tax Supported Primary Improvements Revenue Bonds, Refunding Series 2017A, 5.000%, 12/15/41, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,813,986</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Reata South Metropolitan District, Douglas County, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2018.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,310</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,319,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,765</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,789,332</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">25</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z6d868b3bfc4e48559ff47b4bb90b710e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb8d0e70d65fa4641b23673eecef4a032" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,180</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,253,030</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 1/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,088,705</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,750</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,991,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,280</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sierra Ridge Metropolitan District 2, Douglas County, Colorado, General Obligation Bonds, Limited Tax Series 2016A, 5.500%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,306,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">930</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">SouthGlenn Metropolitan District, Colorado, Special Revenue Bonds, Refunding Series 2016, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">941,913</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">St. Vrain Lakes Metropolitan District No. 2, Weld County, Colorado, Limited Tax General Obligation Bonds, Series 2017A., 5.000%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">987,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Sterling Ranch Community Authority Board, Douglas County, Colorado, Limited Tax Supported Revenue Bonds, Senior Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">509,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Table Mountain Metropolitan District, Jefferson County, Colorado, Limited Tax General Obligation Bonds, Series 2016A, 5.250%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">519,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2012A, 5.000%, 11/15/42</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,268,570</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">364,635</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Colorado</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">325,130,219</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Connecticut &#8211; 0.5% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">610,685</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">740</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/53, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">762,311</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,105</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L, 4.125%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,372,681</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/39 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,461,802</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,685</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Connecticut</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15,207,479</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Delaware &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,615</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware Economic Development Authority, Exempt Facility Revenue Bonds, Indian River Power LLC Project, Series 2010, 5.375%, 10/01/45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,713,612</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>District of Columbia &#8211; 1.3% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,780</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia Student Dormitory Revenue Bonds, Provident Group &#8211; Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,735,358</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,310</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,235,519</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">186,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,995,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia, Revenue Bonds, Ingleside at Rock Creek Project, Series 2017A, 5.000%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,553,445</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">198,590</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total District of Columbia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">42,519,862</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida &#8211; 7.3% (4.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">990</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bexley Community Development District, Pasco County, Florida, Special Assessment Revenue Bonds, Series 2016, 4.700%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,004,692</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 (Pre-refunded 10/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,838,630</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">26</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z07cb1c97661042f189c8947b321bafb7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Capital Trust Agency, Florida, Revenue Bonds, Babcock Neighborhood School Inc., Series 2018.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,290</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.100%, 8/15/38, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,288,362</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,045</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.200%, 8/15/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,043,464</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Capital Trust Agency, Florida, Revenue Bonds, Odyssey Charter School Project, Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,065</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 7/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,060,506</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,470</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,459,313</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Capital Trust Agency, Florida, Revenue Bonds, Renaissance Charter School Project, Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,050</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,735,339</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,890</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 6/15/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,770,609</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">880</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Trust Agency, Florida, Revenue Bonds, Viera Charter School Project, Series 2017A, 5.000%, 10/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">885,236</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,670</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">City of Miami Beach, Florida, Stormwater Revenue Bonds, Series 2015, 5.000%, 9/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,166,981</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,025</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,141,091</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,480</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, Refunding Series 2013, 6.125%, 11/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,629,998</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">245</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">251,365</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">320</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.600%, 11/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">332,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">325</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-2, 5.625%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">339,979</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Davie, Florida, Educational Facilities Revenue Bonds, Nova Southeastern University Project, Refunding Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,445</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 4/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,833,906</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,720</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 4/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,884,449</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Davie, Florida, Water and Sewerage Revenue Bonds, Series 2011, 5.000%, 10/01/41 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,318,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Downtown Doral Community Development District, Florida, Special Assessment Bonds, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">280</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">284,752</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">315</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.300%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">320,128</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">475</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">477,441</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">655</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">657,941</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">255</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">263,242</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">665</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">686,938</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">415</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2018A, 6.000%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">407,567</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Elementary School Project, Series 2017C.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,375</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.650%, 7/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,312,490</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,735</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,611,782</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Florida Charter Foundation Inc. Projects, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,485</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 6/15/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,521,873</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,075</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 7/15/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,961,145</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,770</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.375%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,859,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,335</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,264,659</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,090</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/15/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,241,039</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,015</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,085,827</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">550</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2014A, 6.125%, 6/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">570,432</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">27</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="ze2b71c2701734fb4b79076b61b677df4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z395331630b6b412db346c6d56dac8e3c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,430</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Southwest Charter Foundation Inc. Projects, Series 2017A, 6.125%, 6/15/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,349,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Municipal Loan Council, Revenue Bonds, Series 2003B, 5.250%, 12/01/18</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100,312</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,185</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida State Board of Education, Public Education Capital Outlay Bonds, Series 2008E, 5.000%, 6/01/38 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,313,840</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,435</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, South Parcel Assessment Area Project, Series 2016, 4.750%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,439,735</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,915</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Halifax Hospital Medical Center, Daytona Beach, Florida, Hospital Revenue Bonds, Series 2006, 5.500%, 6/01/38 (Pre-refunded 6/01/18) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,920,707</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,090</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hillsborough County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, University Community Hospital, Series 1994, 6.500%, 8/15/19 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,126,341</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Indian Trace Development District, Florida, Water Management Special Benefit Assessment Bonds, Series 2005:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,645</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/25 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,657,617</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,830</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/27 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,841,602</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">600</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jacksonville, Florida, Better Jacksonville Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">656,262</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Refunding Series 2011, 5.000%, 11/15/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">625</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lakewood Ranch Stewardship District, Florida, Special Assessment Revenue Bonds, Del Webb Project, Series 2017, 5.000%, 5/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">649,787</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,125</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Martin County Health Facilities Authority, Florida, Hospital Revenue Bonds, Martin Memorial Medical Center, Series 2015, 5.000%, 11/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,319,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Miami Dade County Industrial Development Authority, Florida, Educational Facilities Revenue Bonds, South Florida Autism Charter School Project, Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 7/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,056,229</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,920</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,868,314</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,965</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami Dade County, Florida, Rickenbacker Causeway Revenue Bonds, Series 2014, 5.000%, 10/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,630,455</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,130</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Miami Jewish Health System Inc. Project, Series 2017, 5.125%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,317,333</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,545</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami, Florida, Special Obligation Non-Ad Valorem Revenue Bonds, Refunding Series 2011A, 6.000%, 2/01/31 (Pre-refunded 2/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,707,163</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2014A, 5.000%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,496,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2008B, 5.000%, 10/01/41 (Pre-refunded 10/01/18) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,237,057</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,680,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,657,575</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,400</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Special Obligation Bonds, Refunding Subordinate Series 2012B, 5.000%, 10/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,602,152</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,015</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2008, 5.000%, 7/01/35 (Pre-refunded 7/01/18) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,031,311</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,305</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,855,174</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,785</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Northern Palm Beach County Improvement District, Florida, Water Control and Improvement Bonds, Development Unit 53, Series 2015, 5.350%, 8/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,123,539</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,250</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., Series 2012A, 5.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,577,887</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">28</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z7bf512d10bd84739b38c4a9bbd9e6007" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">230</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of Boca Raton Project, Series 2014A, 7.250%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">264,804</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">60</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pasco County, Florida, Water and Sewer Revenue Bonds, Refunding Series 2006, 5.000%, 10/01/36 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">60,158</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Port St. Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,935</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 9/01/35 (Pre-refunded 9/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,992,690</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,730</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/35 (Pre-refunded 9/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,814,025</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Port St. Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">515</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 9/01/35 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">520,727</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/35 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">808,104</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,395</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Putnam County Development Authority, Florida, 5.000%, 3/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,779,042</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">825</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reunion West Community Development District, Florida, Special Assessment Bonds, Area 3 Project, Series 2016, 5.000%, 11/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">832,392</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,745</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Seminole County, Florida, Water and Sewer Revenue Bonds, Refunding &amp; Improvement Series 1992, 6.000%, 10/01/19 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,838,961</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Six Mile Creek Community Development District, Florida, Capital Improvement Revenue Bonds, Assessment Area 2, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">255</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 11/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">257,940</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">430</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 11/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">438,166</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">955</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Fork III Community Development District, Florida, Special Assessment Revenue Bonds, Refunding Series 2016, 5.375%, 5/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">973,756</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">St. Lucie County, Florida, Utility System Revenue Refunding Bonds, Series 1993, 5.500%, 10/01/21 &#8211; FGIC Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,329,528</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,060</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tallahassee, Florida, Health Facilities Revenue Bonds, Tallahassee Memorial HealthCare Inc. Project, Series 2016A, 5.000%, 12/01/55</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,539,086</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39 (Pre-refunded 10/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">417,612</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,461,538</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,125</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tampa, Florida, Healthcare System Revenue Bonds, Allegany Health System &#8211; St. Joseph&#8217;s Hospital, Series 1993, 5.125%, 12/01/23 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,127,644</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,095</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series 2012B, 5.000%, 7/01/42 (Pre-refunded 7/01/22)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,205,046</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series 2017B., 4.000%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,956,095</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Inc. Project, Refunding Series 2011, 5.000%, 10/15/29 (Pre-refunded&#160;&#160;10/15/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,192,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015, 5.000%, 6/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,619,950</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">223,480</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Florida</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">234,238,367</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Georgia &#8211; 4.1% (2.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,085</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.375%, 11/01/39 (Pre-refunded 11/01/19) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,661,087</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,915</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.375%, 11/01/39 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,197,264</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,365</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Oglethorpe Power Corporation Vogtle Project, Series 2017C, 4.125%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,150,149</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,970</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Oglethorpe Power Corporation Vogtle Project, Series 2017D, 4.125%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,949,216</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,825</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Refunding Series 2007, 4.000%, 8/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,921,982</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">29</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zeba08213779444c0801c32ba23638b7d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2fe07273d894490b93946c1dd64e9297" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Georgia </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">City of Fairburn, Georgia, General Obligation Bonds, Series 2011, 5.750%, 12/01/31 (Pre-refunded 12/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,249,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Refunding Series 2012, 5.000%, 4/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,380,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Wellstar Health System, Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,525,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,553,255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,342,225</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,180</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,233,973</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">960</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 2/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">998,755</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,820</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/37 (Pre-refunded 2/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,034,569</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,090</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 2/15/40 (Pre-refunded 2/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,256,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,305</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2014A, 5.500%, 8/15/54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,496,370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,825</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Georgia Municipal Electric Authority, Plant Vogtle Units 3 &amp; 4 Project J Bonds, Series 2015A, 5.000%, 7/01/60</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,451,443</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gwinnett County Hospital Authority, Georgia, Revenue Anticipation Certificates, Gwinnett Hospital System Inc. Project, Series 2007C, 5.500%, 7/01/39 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,330,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,300</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Macon-Bibb County Urban Development Authority, Georgia, Revenue Bonds, Academy for Classical Education, Series 2017, 5.750%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,333,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Marietta Development Authority, Georgia, University Facilities Revenue Bonds, Life University, Inc. Project, Refunding Series 2017A, 5.000%, 11/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,232,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus Regional Healthcare System, Inc. Project, Series 2008, 6.500%, 8/01/38 (Pre-refunded &#160;8/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,057,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Refunding Series 2012C, 5.250%, 10/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,091,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,090</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2015, 5.000%, 10/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,592,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,710</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia Medical Center Project, Series 2011B, 5.000%, 10/01/41</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,817,285</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">125,440</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Georgia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">132,856,322</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Guam &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">706,413</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Hawaii &#8211; 0.4% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Chaminade University of Honolulu, Series 2015A, 5.000%, 1/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,465,335</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2013A, 5.500%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,520,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">170</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.875%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">178,417</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,075</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A, 4.000%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,125,242</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11,745</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Hawaii</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12,289,594</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">30</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z87e5ee31794f4e6ba3d2192eb548ed98" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Idaho &#8211; 0.8% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Idaho Health Facilities Authority, Revenue Bonds, Kootenai Health Project, Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,300</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.375%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,374,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,495</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,953,442</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016, 5.000%, 9/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">265,185</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,730</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Idaho Health Facilities Authority, Revenue Bonds, Saint Luke&#8217;s Health System Project, Series 2012A, 5.000%, 3/01/47 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,188,849</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Idaho Health Facilities Authority, Revenue Bonds, Saint Luke&#8217;s Health System Project, Series 2014A, 4.125%, 3/01/37</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,015,240</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">25,775</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Idaho</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">26,796,801</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois &#8211; 26.0% (16.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">675</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bolingbrook, Illinois, General Obligation Bonds, Refunding Series 2013A, 5.000%, 1/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">748,993</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">67,135</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">78,184,078</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2017, 5.000%, 4/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,067,370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,210</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,269,864</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,865</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,854,705</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,175</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2012A, 5.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,138,568</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,400</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 7.000%, 12/01/42, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,926,028</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017H:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,835</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,827,765</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,940</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,865,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,720</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2008C, 5.000%, 12/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,725,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">38,905</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">44,687,839</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,805</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,746,380</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,585</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,076,418</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,315</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">731,206</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,235</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2011, 5.250%,&#160;&#160;6/01/26 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,400,971</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,173,766</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,215</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2014, 5.250%, 12/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,408,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,700</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Airport Revenue Bonds, O&#8217;Hare International Airport, Third Lien Refunding Series 2010C, 5.250%, 1/01/35 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,053,045</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/31 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">856,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">32,670</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/32 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,762,026</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,360</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,174,638</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">31</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zf1f17f682c29476590505edae8425ebb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="za1fad2fef2b94e82b33b0c30748bec3d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">960</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2007A, 5.000%, 1/01/27 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">964,944</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2014A, 5.250%, 1/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,585,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,605</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2017A, 6.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,494,369</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,220</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C, 5.000%, 1/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,245,784</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project Series 2011A, 5.250%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,017,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,200</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project Series 2012A, 5.000%, 1/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,352,694</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,605</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, 5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,659,679</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2008C, 5.000%, 1/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,191,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.250%, 12/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,376,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">DeKalb, Kane, LaSalle, Lee, Ogle, Winnebago and Boone Counties Community College District 523, Illinois, General Obligation Bonds, Kishwaukee Community College, Series 2011B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 2/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,021,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 2/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">757,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History, Series 2002:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,400</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 11/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,682,574</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.450%, 11/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,584,175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,295</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Educational Facilities Authority, Revenue Bonds, Robert Morris College, Series 2000, 5.800%, 6/01/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,302,908</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,700</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,728,067</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">115</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">116,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Illinois, Rosalind Franklin University Revenue Bonds, Research Building Project, Series 2017C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,075,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,069,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,067,830</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,907,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,026,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,485</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,569,793</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,025</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,948,473</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Children&#8217;s Memorial Hospital, Series 2008A, 5.250%, 8/15/47 &#8211; AGC Insured (Pre-refunded 8/15/18) (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,020,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 4.250%, 5/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,757,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,300</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2009, 5.500%, 4/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,441,126</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,805</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,090,737</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,630</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Northwestern Memorial HealthCare, Series 2013, 5.000%, 8/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,764,915</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">39,675</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Presence Health Network, Series 2016C, 4.000%, 2/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">39,438,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.750%, 8/15/34 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,828</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,475</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.750%, 8/15/34 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,656,021</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">32</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z93a8688e8e6345f090825cf47b008584" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,435</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,589,478</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">560</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">598,343</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,140</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,476,718</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,735</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 7.000%, 8/15/44 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,100,090</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,960</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,907,162</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41 (Pre-refunded 2/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,253,603</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41 (Pre-refunded 2/15/21) (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,905,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,975</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,274,973</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2015A, 5.000%, 10/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,971,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,665</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%, 6/15/31 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,960,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, February Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,200</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,284,256</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,048,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,575</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,611,697</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,536,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, June Series 2016, 4.000%, 6/01/35 Illinois State, General Obligation Bonds, May Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,548,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">510</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">514,733</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,245</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,261,679</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, November Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,800</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,987,738</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,200</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,400,772</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">31,970</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, November Series 2017D, 5.000%, 11/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">33,194,451</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,175,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, Refunding Series 2008, 5.000%, 4/01/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,502,415</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,625</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,677,736</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, Refunding Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,935</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,091,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,725</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,797,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,425</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,568,987</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,190</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,229,877</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,055,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,990</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,080,388</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,466,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,920</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,880,112</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">33</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z74529a6928bf40438c66db76566b9b05" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf384f3f948264a0ca99781efe7ab834a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,395</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 12.874%, 1/01/38, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,900,325</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,400</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 5.250%, 1/01/37 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,899,352</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 6/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,897,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">540</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2015B, 5.000%, 6/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">556,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,890</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">469,336</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,700</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,056,364</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,185</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,343,661</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,365</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,637,874</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,650</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/50 (Pre-refunded 6/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,912,946</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/44 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,316,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">43,200</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/45 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,966,832</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/46 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,627,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">41,205</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2, 5.000%, 6/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">41,781,458</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1994B, 0.000%, 6/15/28 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,599,562</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,085</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/24 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,717,111</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,045</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/35 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,088,403</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,846</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Plano, Illinois, Special Tax Bonds, Special Service Area 1 &amp; 2 Lakewood Springs Project, Refunding Series 2014, 5.000%, 3/01/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,965,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,600</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2000A, 6.500%, 7/01/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,347,188</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,900</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rosemont Village, Illinois, General Obligation Bonds, Corporate Purpose Series 2011A, 5.600%, 12/01/35 (Pre-refunded 12/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,245,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,025</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, Inc., Series 2013, 7.625%, 11/01/48 (Pre-refunded 11/01/23)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,896,530</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southwestern Illinois Development Authority, School Revenue Bonds, Triad School District 2, Madison County, Illinois, Series 2006, 0.000%, 10/01/25 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,014,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,125</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/40 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,136,589</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Will County Community Unit School District 201U, Crete-Monee, Illinois, General Obligation Bonds, Capital Appreciation Series 2004:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,550</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/22 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,221,509</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">780</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/01/22 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">698,779</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,415</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Will County School District 122, New Lenox, Illinois, General Obligation Bonds, Capital Appreciation School Series 2004D, 0.000%, 11/01/24 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,176,135</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">34</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z397b92a9dcc249c39acb9fea8268c035" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Williamson &amp; Johnson Counties Community Unit School District 2, Marion, Illinois, General Obligation Bonds, Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">930</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/21 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,031,221</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,035</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/22 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,144,368</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,155</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/23 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,277,049</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,065</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/26 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,171,947</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,085</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.250%, 12/01/29 (Pre-refunded 12/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,352,735</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,295</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.250%, 12/01/30 (Pre-refunded 12/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,589,701</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">892,511</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Illinois</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">837,615,606</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Indiana &#8211; 3.8% (2.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Allen County, Indiana, Economic Development Revenue Bonds, Fort Wayne Project, Senior Series 2017A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.625%, 1/15/34, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">533,095</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">675</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 1/15/43, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">718,733</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,605</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chesterton, Indiana, Economic Development Revenue Bonds, Storypoint Chesterton Project, Series 2016, 6.250%, 1/15/43, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,654,739</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,640</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2000, 0.000%, 1/15/24 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,265,595</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,040</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Educational Facilities Revenue Bonds, Valparaiso University Project, Series 2014, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,040,404</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">365</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2010, 6.000%, 12/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">375,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">125</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2011, 6.000%, 12/01/19</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">129,447</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,750</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Health System Revenue Bonds, Franciscan Alliance, Inc. Obligated Group, Series 2016A, 4.000%, 11/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,730,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,190</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,967,497</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2010B, 5.000%, 12/01/37 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,367,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,880</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011B, 5.000%, 10/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,947,094</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,970</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,107,891</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indianapolis Local Public Improvement Bond Bank Bonds, Indiana, PILOT Infrastructure Project Revenue Bonds, Series 2010F, 5.000%, 1/01/35 (Pre-refunded 1/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,250,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 2/01/26 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,976,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 2/01/28 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,747,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,855</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/38 (Pre-refunded 1/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,925,861</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11,760</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/38 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12,025,776</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">125,355</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Indiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">123,763,087</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Iowa &#8211; 3.2% (2.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2013A, 5.250%, 2/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,801,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,690</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.250%, 12/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,390,623</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,290</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,473,729</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,280</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018B., 5.250%, 12/01/50 (Mandatory put 12/01/22)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,426,141</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">35</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf2a53d594a3c4b23956a8d2f01f3b8a4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z544bd10ffe984801b6daf6f2f9b8db87" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Iowa </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,285</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 6/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,305,298</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,208,712</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,360</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,470,645</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,400</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,486,772</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">100,505</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Iowa</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">104,563,020</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kansas &#8211; 0.6% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,240</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,291,410</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,140</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40 (Pre-refunded 1/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,540,162</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lenexa, Kansas, Health Care Facilities Revenue Bonds, Lakeview Village Inc., Series 2017A, 5.000%, 5/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,055,770</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Vacation Village Project Area 1 and 2A, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,870</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,160,642</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,380</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,525,632</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,495</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 9/01/35</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,649,490</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,125</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Kansas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">21,223,106</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kentucky &#8211; 2.8% (1.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,565</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Christian County, Kentucky, Hospital Revenue Bonds, Jennie Stuart Medical Center, Series 2016, 5.500%, 2/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,878,935</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,675</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Bond Development Corporation, Tax Increment Revenue Bonds, Summit Lexington Project, Series 2016A, 4.400%, 10/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,416,878</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,850</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,448,719</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,280</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,478,834</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,240</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A, 6.000%, 6/01/30 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,658,257</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,015</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010B, 6.375%, 3/01/40 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,540,831</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/33 (Pre-refunded 6/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,003,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,345</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,604,005</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,370</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,784,563</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,245</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,795,157</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,360</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/43 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,043,028</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,510</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/46 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,990,458</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,390</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,618,245</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">480</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">532,027</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">36</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z17a40760ab284929ac9d280a34eccbe0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kentucky </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky State Property and Buildings Commission, Revenue Bonds, Project 93, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">715</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/20 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">733,426</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,560</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/20 (Pre-refunded 2/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,702,392</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,865</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/24 (Pre-refunded 2/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,092,033</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,135</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/24 (Pre-refunded 2/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,164,067</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">87,600</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Kentucky</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">90,485,315</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Louisiana &#8211; 1.6% (1.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,080</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.000%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,314,049</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,330</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jefferson Parish Hospital District1, Louisiana, Hospital Revenue Bonds, West Jefferson Medical Center, Refunding Series 2011A, 6.000%, 1/01/39 (Pre-refunded 1/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,759,233</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin&#8217; Cajun Facilities Inc. Housing &amp; Parking Project, Series 2010, 5.500%, 10/01/41 (Pre-refunded 10/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,412,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,100</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017, 3.500%, 11/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,957,432</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Series 1998A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">135</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/25 &#8211; AGM Insured (ETM) (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">164,302</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,865</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/25 &#8211; AGM Insured (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,219,366</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017, 0.000%, 10/01/46 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/33 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,150,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,845</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 4.000%, 5/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,840,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.250%, 5/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,029,410</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,970</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,526,694</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 4.250%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,026,930</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">52,325</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Louisiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">53,401,216</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maine &#8211; 0.9% (0.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,530</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,687,377</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,280</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,639,219</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,565</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,804,042</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,050</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011, 6.750%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,135,586</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Mainehealth Issue, Series 2015, 5.000%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,801,700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">29,425</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Maine</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">29,067,924</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maryland &#8211; 1.4% (0.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Howard County, Maryland, Special Obligation Bonds, Downtown Columbia Project, Series 2017A, 4.375%, 2/15/39, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,007,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A, 6.000%, 1/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,776,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,315</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2016A, 5.500%, 1/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,785,109</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">37</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z21b10270035240a9b092180561ed83c6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zab7523e8f3d34391985187314aa55556" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maryland </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2015, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,962,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center Issue, Refunding Series 2015, 5.000%, 7/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,678,975</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System Issue, Series 2013A, 5.000%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,216,090</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Prince George&#8217;s County Revenue Authority, Maryland, Special Obligation Bonds, Suitland-Naylor Road Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,936,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,300</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,255,541</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Series 2017B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,335</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.250%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,352,715</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.500%, 11/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,279,125</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,950</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/47</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,096,445</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">41,150</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Maryland</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">44,346,705</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Massachusetts &#8211; 2.7% (1.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,916,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,125</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B, 5.000%, 1/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,255,594</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,245</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,422,265</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,195</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,708,380</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series 2017.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,310</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 10/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,446,868</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,580</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 10/01/57, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,891,695</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,555</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta Energy Project, Series 2012B, 4.875%, 11/01/42, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,558,493</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,950</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,136,883</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,020</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.500%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,110,370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,895,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &amp;2, 5.125%, 7/01/38 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">502,765</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,330</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Tender Option Bond Trust 2016-XL0017, 10.402%, 12/15/34, 144A (Pre-refunded 12/15/19) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,129,820</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Eye and Ear Infirmary, Series 2010C, 5.375%, 7/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,042,090</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,405</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Institute of Technology, Series 2002K, 5.500%, 7/01/32 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,678,409</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">770</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">796,426</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,530</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/39 (Pre-refunded 7/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,598,345</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,560</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,016,866</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">425</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate Series 1999A, 5.750%, 8/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">426,373</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,245</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Springfield Water and Sewer Commission, Massachusetts, General Revenue Bonds, Refunding Series 2010B, 5.000%, 11/15/30 (Pre-refunded 11/15/20) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,338,823</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">80,245</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Massachusetts</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">87,871,905</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">38</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z95f5abd4cfdc44adb4ebeafa8c5e1d69" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Michigan &#8211; 2.9% (1.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,490</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2001A, 6.000%, 5/01/29 &#8211; AGM Insured (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,516,191</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,985</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,193,980</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Refunding Bonds, Bronson Methodist Hospital, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">895</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/15/36 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">937,190</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,105</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/15/36 (Pre-refunded 5/15/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,174,924</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Michigan Finance Authority, Hospital Revenue Bonds, Sparrow Obligated Group, Refunding Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,495</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 11/15/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,586,204</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,550</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 11/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,596,971</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,240</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,509,924</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/39 (Pre-refunded 12/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,970</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016MI, 5.000%, 12/01/45 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,092,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Public Power Agency, AFEC Project Revenue Bonds, Series 2012A, 5.000%, 1/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,179,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-II-A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,750</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 10/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,031,023</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,260</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 10/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,055,108</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,500</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 11/15/29 (Pre-refunded 11/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,805,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,585</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 11/15/39 (Pre-refunded 11/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,192,367</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,855</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2009C, 5.000%, 12/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,763,334</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,050</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,064,244</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,174,438</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2015D:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,550</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,911,710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,600</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,954,204</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">87,070</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Michigan</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">93,749,372</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Minnesota &#8211; 0.7% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">155</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 8/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">147,083</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">440</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 8/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">407,264</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brooklyn Park, Minnesota, Charter School Lease Revenue Bonds, Prairie Seeds Academy Project, Refunding Series 2015A, 5.000%, 3/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,042,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,720</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2015A, 5.500%, 7/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,816,681</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,410</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Hiawatha Academies Project, Series 2016A, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,382,322</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Health Services, Series 2008B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,625</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 11/15/38 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,740,671</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">840</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 11/15/38 (Pre-refunded 11/15/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">861,193</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">39</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z50f42b74208c45888d49c08d5e388fbd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) <br>
 April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2e0fcc07c9a04b2283a72f5e362be562" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Minnesota </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Children&#8217;s Health Care, Series 2004A-1 Remarketed, 4.625%, 8/15/29 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,043,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Saint Cloud, Minnesota, Charter School Lease Revenue Bonds, Stride Academy Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">264,542</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">605</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">395,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Refunding Series 2015A, 4.000%, 7/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,557,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">235</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Paul Housing and Redevelopment Authority, Minnesota, Multifamily Housing Revenue Bonds, 2700 University at Westgate Station, Series 2015B, 4.250%, 4/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">236,603</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">900</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/15/35 (Pre-refunded 11/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">968,724</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,785</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/40 (Pre-refunded 11/15/25)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,260,511</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,190</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/44 (Pre-refunded 11/15/25)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,734,661</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">22,810</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Minnesota</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23,859,345</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Mississippi &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,445</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mississippi Development Bank, Special Obligation Bonds, Gulfport Water and Sewer System Project, Series 2005, 5.250%, 7/01/24 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,058,270</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Missouri &#8211; 1.7% (1.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,820</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chesterfield Valley Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2015, 3.625%, 5/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,798,258</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kansas City Industrial Development Authority, Missouri, Sales Tax Revenue Bonds, Ward Parkway Center Community Improvement District, Senior Refunding &amp; Improvement Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">411,836</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,520</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,538,757</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1, 0.000%, 4/15/28 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,724,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,345</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kirkwood Industrial Development Authority, Missouri, Retirement Community Revenue Bonds, Aberdeen Heights Project, Refunding Series 2017A, 5.250%, 5/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,529,510</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Liberty, Missouri, Special Obligation Tax Increment and Special Districts Bonds, Liberty Commons Project, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,575</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,536,476</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,055</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,033,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,460</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013, 5.500%, 5/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,641,769</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2015B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,410</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,493,331</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,111,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,040</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,497,882</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Heartland Regional Medical Center, Series 2012, 5.000%, 2/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,394,045</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,010</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Plaza at Noah&#8217;s Ark Community Improvement District, Saint Charles, Missouri, Tax Increment and Improvement District Revenue Bonds, Series 2015, 5.000%, 5/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">988,608</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,125</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/29 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,136,945</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,350</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park Projects, Series 2000A, 0.000%, 6/01/30 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,989,421</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A, 5.875%, 9/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">458,748</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">40</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z640a8f62c1ef4192a9507a3e1c81b10a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 3%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Missouri </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Saint Andrew&#8217;s Resources for Seniors, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,550</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,624,617</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">455</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">476,349</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">63,770</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Missouri</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">55,385,712</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Montana &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">Kalispell, Montana, Housing and Healthcare Facilities Revenue Bonds, Immanuel Lutheran Corporation, Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,175</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,231,811</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">375</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">390,315</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montana Facility Finance Authority, Hospital Revenue Bonds, Benefits Health System Obligated Group, Series 2011A, 5.750%, 1/01/31 (Pre-refunded 1/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,282,150</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,550</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Montana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,904,276</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Nebraska &#8211; 1.6% (1.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Crossover Refunding Series 2017A., 5.000%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,522,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,435</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012,&#160;&#160;5.000%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,832,021</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">580</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">630,559</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,090</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.125%, 11/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,128,477</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,325</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,518,161</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,010</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,218,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Municipal Energy Agency of Nebraska, Power Supply System Revenue and Refunding Bonds, Series 2009A, 5.375%, 4/01/39 (Pre-refunded 4/01/19) &#8211; BHAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,162,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Scotts Bluff County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Regional West Medical Center Project, Refunding &amp; Improvement Series 2016A, 5.250%, 2/20/37</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,291,060</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">46,940</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Nebraska</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">52,303,948</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Nevada &#8211; 1.6% (1.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,350</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/26 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,541,156</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,020</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/39 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,242,138</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,515</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,246,121</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">410</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Director of the State of Nevada Department of Business and Industry, Charter School Lease Revenue Bonds, Somerset Academy, Series 2018A, 5.000%, 12/15/38, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">418,569</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas, Nevada, Sales Tax Increment Revenue Bonds, Symphony Park Tourism Improvement District, Series 2016, 4.375%, 6/15/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">926,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Nevada State Director of the Department of Business and Industry, Charter School Revenue Bonds, Doral Academy of Nevada, Series 2017A, 5.000%, 7/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">510,265</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,140</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Las Vegas, Nevada, General Obligation Bonds, Wastewater Reclamation System Series 2006,&#160;&#160;5.000%, 10/01/25 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,141,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washoe County, Nevada, Highway Revenue, Motor Vehicle Fuel Tax Bonds, Series 2013, 5.000%, 2/01/38</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,122,330</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">48,035</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Nevada</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">50,148,329</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">41</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z13a14bfa17cf42558d9d64a74521f698" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z455411c6f5a640818488a416403e6efb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Hampshire &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39 (Pre-refunded 10/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,291,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hampshire Health and Education Facilities Authority, Revenue Bonds, Kendal at Hanover, Series 2016, 5.000%, 10/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">534,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New Hampshire</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,825,350</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Jersey &#8211; 6.4% (4.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">34,310</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">38,939,105</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,110</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,396,369</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005N-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,835</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 9/01/24 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,762,646</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 9/01/28 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,817,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,975</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2015WW, 5.250%, 6/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,786,785</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Series 2012K-K, 5.000%, 3/01/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,503,610</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 6.000%, 7/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">639,702</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,507,470</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,325</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, Refunding Series 2014A, 5.000%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,506,048</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,945</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,574,754</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,420,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,395,246</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.250%, 12/15/20</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,283,752</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C, 0.000%, 12/15/33 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,449,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,805</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.000%, 6/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,118,453</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2014AA, 5.000%, 6/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,907,331</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,680</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 6/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,129,798</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,245</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 6/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,593,897</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,230</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,631,130</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">33,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2005D-1, 5.250%, 1/01/26 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">39,145,788</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">120</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">11.994%, 1/01/43, 144A (Pre-refunded 7/01/22) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">168,708</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">11.994%, 1/01/43, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.01</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">112,472</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,135</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 5.000%, 5/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,251,247</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,410</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 5.000%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,586,365</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">42</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z7fd32de9b4364eb299c28a4c09a45ca1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Jersey </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,330</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds, Series 2005, 5.250%, 1/01/26 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,546,325</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">198,375</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New Jersey</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">206,174,671</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York &#8211; 4.8% (3.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Build NYC Resource Corporation, Revenue Bonds, Albert Einstein College of Medicine, Inc., Series 2015, 5.500%, 9/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,278,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of Medicine, Series 1994A, 5.150%, 7/01/24 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,543,648</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 2017A, 5.000%, 10/01/47 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,528,229</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,070</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,405,409</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,225</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2010A, 5.000%, 7/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,659,439</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/40, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,875,257</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,942,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2009A, 5.000%, 2/15/39 (Pre-refunded 2/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,127</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender Option Bond Trust 2016-XF0525:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,881</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">10.249%, 2/15/39, 144A (Pre-refunded 2/15/19) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,023,268</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">117</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">10.249%, 2/15/39, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.01</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">125,883</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">10.242%, 2/15/39, 144A (Pre-refunded 2/15/19) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,350,142</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">10.242%, 2/15/39, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.01</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">86,065</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,695</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2017A, 6.240%, 2/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,627,948</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,439,516</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">105</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/47 (Pre-refunded 2/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">114,230</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">325</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 2/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">351,598</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 2/15/47 (Pre-refunded 2/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">578,225</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,075</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/36 (Pre-refunded 5/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,602,614</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A, 5.000%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,886,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,315</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,703,738</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014, 5.000%, 7/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,097,580</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,690</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2006A-3, 5.000%, 6/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,668,909</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,217,549</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,570</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Municipal Water Authority, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2016, Series 2015, 5.000%, 6/15/46 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,862,832</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.750%, 8/01/18</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">75,265</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City, New York, General Obligation Bonds, Fiscal Series 2005M, 5.000%, 4/01/26 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,013</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">43</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="ze57a67d1d57f4fca92c98721a0330361" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z4d7127c1cdae459d8749876428adf6f0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,111,565</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project, Series 1996A, 6.125%, 11/01/20 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,041</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,655</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph&#8217;s Hospital Health Center Project, Series 2012, 5.000%, 7/01/42 (Pre-refunded 7/01/22)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,295,881</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,251,613</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,155</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,457,438</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,360</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/48</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,405,377</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">141,768</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New York</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">153,591,429</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>North Carolina &#8211; 0.8% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/39 (Pre-refunded 6/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,297,908</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2012A, 5.000%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,854,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,715</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2012A, 5.000%, 6/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,085,835</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Refunding Series 2012A, 5.000%, 10/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,340,404</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Aldersgate United Retirement Community Inc., Refunding Series 2017A, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,289,707</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,690</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A, 5.000%, 7/01/54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,837,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">540</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009, 6.000%, 6/01/34 (Pre-refunded 6/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">563,917</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">22,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total North Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">24,269,671</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>North Dakota &#8211; 1.9% (1.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,444,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,173,940</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,245</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,362,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A, 5.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,942,296</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Forks, North Dakota, Senior Housing &amp; Nursing Facilities Revenue Bonds, Valley Homes and Services Obligated Group, Series 2017, 5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">997,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,796,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,915</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,709,830</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,165,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Williston Parks and Recreation District, North Dakota, Sales Tax &amp; Gross Revenue Bonds, Series 2012A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">970</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 3/01/19</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">969,719</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,105,843</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,535</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Williston, North Dakota, Multifamily Housing Revenue Bonds, Eagle Crest Apartments LLC Project, Series 2013, 7.750%, 9/01/38 (8)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,014,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">60,275</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total North Dakota</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">62,683,008</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">44</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z281adaf2cf07400e87038026b7333f9d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Ohio &#8211; 10.2% (6.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,185</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children&#8217;s Hospital Medical Center, Improvement &amp; Refunding Series 2012, 5.000%, 11/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,398,393</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and Improvement Series 2012A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,081,177</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,540</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 5/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,550,236</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,405</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,638,549</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Second Subordinate Capital Appreciation Turbo Term Series 2007C, 0.000%, 6/01/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,817,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 6/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,220,032</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">45,280</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">44,593,555</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,820</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,811,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,385</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,218,664</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,715</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,714,837</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,440</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,440,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,223,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Butler County Port Authority, Ohio, Revenue Bonds, StoryPoint Fairfield Project, Senior Series 2017A-1, 6.250%, 1/15/34, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,040,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Centerville, Ohio Health Care Improvement Revenue Bonds, Graceworks Lutheran Services, Refunding &amp; Improvement Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,925,478</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,358,592</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena Health System Obligated Group Project, Refunding &amp; Improvement Series 2017, 4.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,907,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Cleveland Heights-University Heights City School District, Ohio, General Obligation Bonds, School Improvement Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,345</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,612,132</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,965</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/51 (Pre-refunded 6/01/23)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,594,066</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children&#8217;s Hospital Project, Improvement Series 2012A, 5.000%, 11/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,412,794</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,770</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Franklin County, Ohio, Revenue Bonds, Trinity Health Credit Group, Series 2017A., 3.250%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,126,022</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,425</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Series 2013A, 5.000%, 1/01/38 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,015,265</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender Option Bond Trust 2016-XG0052:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.062%, 1/01/38, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,709,325</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.062%, 1/01/38, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,734,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">625</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.062%, 1/01/38, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">854,663</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.062%, 1/01/38, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,358,869</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.056%, 1/01/38, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.01</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,392,705</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">390</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">12.980%, 1/01/38, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">532,217</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,885</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 (Pre-refunded 11/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,260,194</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding Series 2007:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,380</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/27 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,143,390</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/31 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,139,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,474,840</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">45</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z5394fb7e3fab43f5947e7200be423f70" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zbaa13be4a1674d7b9b13bf39233978e7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Ohio </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,931,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 3.100%, 3/01/23 (Mandatory put 3/01/19) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">485,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,020</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010B, 3.750%, 6/01/33 (Mandatory put 6/01/20) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">934,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2006B, 3.125%, 1/01/34 (Mandatory put 7/01/18) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">462,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,934,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/48 (Mandatory put 6/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,975</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,380,711</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,240</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien Convertible Series 2013A-3, 0.000%, 2/15/36 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,185,229</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory put 6/03/19) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">522,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,405</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A, 4.375%, 6/01/33 (Mandatory put 6/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,588,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010B, 4.375%, 6/01/33 (Mandatory put 6/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,660,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory put 6/03/19) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">763,125</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,095</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,181,571</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">937,608</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,365</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Toledo Lucas County Port Authority, Ohio, Revenue Bonds, Storypoint Waterville Project, Series 2016A-1, 6.125%, 1/15/34, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,409,895</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding &amp; Improvement Series 2015, 6.000%, 3/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,345,441</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">University of Akron, Ohio, General Receipts Bonds, Federally Taxable Build America Bonds, Series 2010B, 5.000%, 1/01/29 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,094,960</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">426,210</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Ohio</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">327,119,145</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Oklahoma &#8211; 0.8% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 8.500%, 8/25/26, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,639,148</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand River Dam Authority, Oklahoma, Revenue Bonds, Series 2010A, 5.250%, 6/01/40 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,729,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Oklahoma City Water Utilities Trust, Oklahoma, Water and Sewer Revenue Bonds, Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,097,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,621,905</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,675</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Series 2008B, 5.250%, 8/15/38 (Pre-refunded 8/15/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,691,985</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">46</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z7fbeaf3af2264644aca02bef18c29c4a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Oklahoma </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 8/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,200,469</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,290</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,920,251</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,530</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/57</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,925,466</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,340</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tulsa County Industrial Authority, Oklahoma, Senior Living Community Revenue Bonds, Montereau, Inc. Project, Refunding Series 2017, 5.250%, 11/15/45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/25 at 102.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,569,811</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23,135</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Oklahoma</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">25,396,055</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Oregon &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Mirabella South Waterfront, Refunding Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.400%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,065,090</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 10/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">854,208</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Oregon Department of Administrative Services, State Lottery Revenue Bonds, Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">555</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 4/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">602,347</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,445</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 4/01/31 (Pre-refunded 4/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,752,156</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2009A, 5.000%, 11/15/33</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,098,700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,800</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Oregon</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,372,501</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Pennsylvania &#8211; 6.7% (4.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">170</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 11/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">174,388</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">195</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 5/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">198,916</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2009A, 5.625%, 8/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,084,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2010, 5.000%, 6/01/40 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,548,940</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,540</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Refunding Project, Series 2017, 5.000%, 5/01/42, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,694,864</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,245</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2005A, 4.000%, 1/01/35 (Mandatory put 7/01/21) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">575,813</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,420,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Refunding Bonds, FirstEnergy Generation Project, Series 2008B, 4.250%, 10/01/47 (Mandatory put 4/01/21) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,235</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.375%, 1/01/35 (Mandatory put 7/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,705,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,145</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">3.500%, 4/01/41 (Mandatory put 6/01/20) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,454,563</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,315</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory put 6/01/20) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">608,188</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Berks County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Tower Health Project, Series 2017., 5.000%, 11/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,961,840</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Bucks County Industrial Development Authority, Pennsylvania, Revenue Bonds, School Lane Charter School Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,410</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 3/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,575,374</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,420</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 3/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,797,111</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chester County Health and Educational Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,580</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,656,962</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/40 (Pre-refunded 5/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,702,785</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">47</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6d72ba1557434270aa9152a791d1d306" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z59f9a502656e4825a0c3eec31c09c874" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Pennsylvania </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018., 4.000%, 6/01/39 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,531,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015, 5.000%, 1/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,101,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System Project, Series 2012A, 5.000%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,332,392</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 5.000%, 1/01/40 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,152,238</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County Hospital Authority, Pennsylvania, Revenue Bonds, Landis Homes Retirement Community Project, Refunding Series 2015A, 5.000%, 7/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,321,538</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Series 2013A, 5.125%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,641,645</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,970</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 8/01/33 (Pre-refunded 8/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,532,523</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 8/01/38 (Pre-refunded 8/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,683,176</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,034,573</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,213,641</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,015,612</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,705</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,060,495</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 6/01/33 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,512,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2015B-1, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,155,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series 2012A,&#160;&#160;5.625%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,150,216</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/35 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,257,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,850</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/40 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,731,076</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,055</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room Excise Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/35 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,423,553</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,180</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Sales Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/31 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,468,060</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Scranton, Pennsylvania, Sewer Authority Revenue Bonds, Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,125</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/31 (Pre-refunded 12/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,245,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/35 (Pre-refunded 12/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,115,930</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,790</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2012B, 4.000%, 1/01/33</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,816,692</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">206,125</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Pennsylvania</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">214,658,054</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Puerto Rico &#8211; 0.7% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2004J, 5.000%, 7/01/29 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">578,613</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">50,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/47 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,517,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">86,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/54 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11,265,975</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">136,840</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Puerto Rico</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">21,361,588</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">48</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zcfc2a0259249402fbd4f6d3d0b5f1676" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Rhode Island &#8211; 1.1% (0.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rhode Island Health and Educational Building Corporation, Revenue Bonds, Care New England Health System, Series 2013A, 6.000%, 9/01/33 (Pre-refunded 9/01/23)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,181,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">292,435</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">CCC+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">33,179,675</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">293,435</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Rhode Island</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">34,360,955</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>South Carolina &#8211; 2.8% (1.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2, 0.000%, 1/01/31 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,789,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,155</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Peters Parish/Jasper County Public Facilities Corporation, South Carolina, Installment Purchase Revenue Bonds, County Office Building Projects, Series 2011A, 5.250%, 4/01/44 (Pre-refunded 4/01/21) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,436,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">South Carolina Jobs-Economic Development Authority, Health Facilities Revenue Bonds, Lutheran Homes of South Carolina Inc., Refunding Series 2017B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,045,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">779,745</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2011A, 6.500%, 8/01/39 (Pre-refunded 8/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,414,563</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">34,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Series 2015A, 5.000%, 12/01/50 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">36,402,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Revenue Obligation Bonds, Santee Cooper Electric System, Series 2008A, 5.500%, 1/01/38 (Pre-refunded 1/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,476</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding &amp; Improvement Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,353,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/55</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,374,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,352,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,310</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 5.125%, 12/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,399,905</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,285</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,237,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Spartanburg Regional Health Services District, Inc., South Carolina, Hospital Revenue Refunding Bonds, Series 2012A, 5.000%, 4/15/32</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11,140,110</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">85,620</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total South Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">88,745,509</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>South Dakota &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">South Dakota Health and Educational Facilities Authority, Revenue Bonds, Avera Health, Series 2012A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">268,023</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,605,171</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,765</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017, 5.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,179,414</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,365</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total South Dakota</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,052,608</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Tennessee &#8211; 1.2% (0.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,895</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,714,864</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,850</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger Health System, Refunding Series 2014A, 5.000%, 10/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,980,684</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">49</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td>
<p style="FONT: bold 10pt Arial; MARGIN: 0px">April 30, 2018 (Unaudited)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 0px">&#160;</p>
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</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z5aad34fe617c4b4089465c32b159e4a1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Tennessee </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,645</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Memphis/Shelby County Economic Development Growth Engine Industrial Development Board, Tennessee, Tax Increment Revenue Bonds, Graceland Project, Senior Series 2017A, 5.500%, 7/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,815,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A, 5.500%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,441,310</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,392,205</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">The Health and Educational Facilities Board of the City of Franklin, Tennessee, Revenue Bonds, Provision Cares Proton Therapy Center, Nashville Project, Series 2017A, 7.500%, 6/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,606,600</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">35,850</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tennessee</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">37,950,763</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas &#8211; 11.9% (7.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">735</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Wayside Schools, Series 2016A, 4.375%, 8/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">717,323</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,855</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phase 1 Project, Series 2015, 7.250%, 9/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,937,381</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phases 2-3 Major Improvements Project, Series 2015, 8.250%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,526,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Austin, Texas, Electric Utility System Revenue Bonds, Series 2015A, 5.000%, 11/15/45 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,108,611</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,685</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bexar County, Texas, Venue Project Revenue Bonds, Refunding Combined Venue Tax Series 2010, 5.500%, 8/15/49 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,956,946</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Board of Managers, Joint Guadalupe County-Seguin City Hospital, Texas, Hospital Mortgage Revenue Bonds, Refunding &amp; Improvement Series 2015, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,523,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,440</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 7.250%, 9/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,405,401</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Areas 2-5 Major Improvement Project, Series 2015, 8.250%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,251,711</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celina, Texas, Special Assessment Revenue Bonds, Wells South Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 6.250%, 9/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">417,093</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 1/01/31 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,636,995</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 1/01/46 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,877,123</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,685</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 5.000%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,893,659</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016, 3.375%, 1/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,145,044</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,270</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012, 3.750%, 8/15/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,318,895</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.350%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">769,077</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">685</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.400%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">688,651</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2015A, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,280,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Club Municipal Management District 1, Texas, Special Assessment Revenue Bonds, Improvement Area 1 Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 9/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">739,518</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">770</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">723,815</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,735</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding and Improvement Bonds, Series 2012C, 5.000%, 11/01/45 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,617,824</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">50</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z3696352dba554e67bda4ea64c741555b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2013A,&#160;&#160;6.375%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,599,045</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2014A,&#160;&#160;5.250%, 9/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">425,168</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT, 4.750%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,284,053</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,920</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012B, 4.750%, 11/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,108,123</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.250%, 10/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,064,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Series 2013B,&#160;&#160;5.000%, 4/01/53 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,820,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,470</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Tender Option Bond Trust 2015-XF0228, 13.027%, 11/01/44, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,266,403</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,685,734</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,545</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0054, 10.390%, 11/01/41, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,919,894</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County, Texas, General Obligation Toll Road Revenue Bonds, Tender Option Bond Trust 2015-XF0074, 11.003%, 8/15/32, 144A &#8211; AGM Insured (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,292,837</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding Senior Lien Series 2014A, 0.000%, 11/15/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 44.13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,482,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,478,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,055</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/34 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 55.69</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,034,374</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/34 (Pre-refunded 11/15/24) &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 55.69</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">906,096</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston Higher Education Finance Corporation, Texas, Education Revenue Bonds, KIPP, Inc., Refunding Series 2015, 4.000%, 8/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,098,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/26 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,154,701</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,865</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/27 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,555,196</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,715</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2015, 5.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,110,494</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 2002A, 5.750%, 12/01/32 &#8211; AGM Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,823,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hutto Independent School District, Williamson County, Texas, General Obligation Bonds, Refunding Series 2012A, 5.000%, 8/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,154,193</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B, 5.000%, 8/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,525,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015, 5.000%, 8/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,029,309</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2015, 5.000%, 5/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,087,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,095</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,251,762</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,125</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,306,031</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy at Willow Bend Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,425,038</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,225,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">51</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb773c25a43f442a39d936e33aab11616" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="za6f7a81316434d88b1b348f4b1e80f34" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">745</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Wesleyan Homes, Inc. Project, Series 2014, 5.500%, 1/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">792,725</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">210</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi II, L.L.C.-Texas A&amp;M University-Corpus Christi Project, Series 2016A, 5.000%, 4/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">213,282</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,530</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation &#8211; College Station I LLC &#8211; Texas A&amp;M University Project, Series 2014A, 4.100%, 4/01/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,591,653</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">820</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation &#8211; San Antonio 1, L.L.C. &#8211; Texas A&amp;M University &#8211; San Antonio Project, Series 2016A, 5.000%, 4/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">834,981</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation &#8211; Stephenville II, L.L.C. &#8211; Tarleton State University Project, Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,078,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,336,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,692,976</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,540</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Galveston-Texas A&amp;M University at Galveston Project, Series 2014A, 5.000%, 4/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,952,342</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,220</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 12/15/36 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,471,353</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/43 (Pre-refunded 9/01/31) (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,798,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,910</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/45 (Pre-refunded 9/01/31) (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,624,553</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A, 5.500%, 9/01/41 (Pre-refunded 9/01/21) (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,322,290</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,155</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B, 5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,656,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A, 5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,188,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">610</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A, 5.125%, 2/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">631,265</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Red River Education Finance Corporation, Texas, Higher Education Revenue Bonds, Saint Edward&#8217;s University Project, Series 2016, 4.000%, 6/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,729,692</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,410</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Baylor Health Care System, Series 2011A, 5.000%, 11/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,590,654</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Refunding Series 2013, 5.500%, 9/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,038,001</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott &amp; White Healthcare Project, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">215</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/45 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">231,626</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,675</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/45 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,888,117</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,640</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott &amp; White Healthcare Project, Series 2016A, 5.000%, 11/15/45 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,479,324</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,430</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas City Industrial Development Corporation, Texas, Industrial Development Revenue Bonds, NRG Energy, Inc. Project, Fixed Rate Series 2012, 4.125%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,185,925</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">52</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zb24edf34b75c42b689a1da2a0c6d67ac" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,635</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,013,985</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,736,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,720,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,355</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,729,922</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,975</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,217,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2012A, 5.000%, 8/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,390,975</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2015B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,280</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 59.60</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,154,509</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 56.94</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,360,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,425,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">31,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">34,368,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,552,032</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,840</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ysleta Independent School District Public Facility Corporation, Texas, Lease Revenue Refunding Bonds, Series 2001, 5.375%, 11/15/24 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,873,838</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">381,310</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Texas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">382,522,213</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Utah &#8211; 1.0% (0.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,585</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah Transit Authority, Sales Tax Revenue Bonds, Series 2008A, 5.000%, 6/15/36 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,641,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah Transit Authority, Sales Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0023, 9.469%, 6/15/32, 144A &#8211; AGM Insured (Pre-refunded 6/15/18) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,653,897</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah Transit Authority, Sales Tax Revenue Bonds, Series 2008A, 5.000%, 6/15/32 &#8211; AGM Insured (Pre-refunded 6/15/18) (UB) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15,058,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">33,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utah</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">33,353,687</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Virginia &#8211; 1.6% (1.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Embrey Mill Community Development Authority, Virginia, Special Assessment Revenue Bonds, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 20pt; TEXT-INDENT: -8.65pt">5.300%, 3/01/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,215,684</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 20pt; TEXT-INDENT: -8.65pt">5.600%, 3/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,102,740</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hampton Roads Transportation Accountability Commission, Virginia, Hampton Roads Transportation Fund Revenue Bonds, Senior Lien Series 2018A, 5.500%, 7/01/57</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,921,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,945</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail &amp; Capital Improvement Project, Refunding Second Senior Lien Series 2014A,&#160;&#160;5.000%, 10/01/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,859,036</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 0.000%, 10/01/44 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,525,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien Revenue Bonds, Series 2009C, 6.500%, 10/01/41 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,843,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Roanoke Industrial Development Authority, Virginia, Hospital Revenue Bonds, Carilion Health System Obligated Group, Series 2005B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">985</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,028,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/38 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,961</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Green Series 2015B, 5.250%, 7/01/35, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,073,270</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">45,230</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Virginia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">52,586,286</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">53</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb1f12e09f50c4a1e90b5341d2263cfea" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zc4959d85f61b47939faffc31353b4bf5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Washington &#8211; 2.2% (1.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Puget Sound Regional Transit Authority, Washington, Sales Tax and Motor Vehicle Excise Tax Bonds, Green Bonds, Series 2016S-1, 5.000%, 11/01/46 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,337,759</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Series 2015A, 5.000%, 7/01/38 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,602,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Series 2009, 5.500%, 6/01/39 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,873,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">King County, Washington, Sewer Revenue Bonds, Tender Option Bond Trust 2016-XL0009, 8.191%, 1/01/39, 144A &#8211; AGC Insured (Pre-refunded 1/01/19) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,847,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,110,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Providence Health &amp; Services, Tender Option Bond Trust 2015-XF0148, 12.822%, 10/01/44, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,698,375</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,540</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children&#8217;s Hospital, Series 2012A, 5.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,085,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Washington State Housing Finance Commission, Non-profit Housing Revenue Bonds, Presbyterian Retirement Communities Northwest Project, Refunding Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,691,108</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/51, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,798,117</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">21,510</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington State, General Obligation Bonds, Series 2002C, 0.000%, 6/01/28 &#8211; NPFG Insured (UB) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15,853,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">70,065</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Washington</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">69,898,339</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>West Virginia &#8211; 1.9% (1.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monongalia County Commission, West Virginia, Special District Excise Tax Revenue, University Town Centre Economic Opportunity Development District, Refunding &amp; Improvement Series 2017A, 5.500%, 6/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,954,606</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,145</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pleasants County, West Virginia, Pollution Control Revenue Bonds, Allegheny Energy Supply Company, LLC Pleasants Station Project, Series 2007F, 5.250%, 10/15/37 (Pre-refunded 6/11/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,109,493</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Virginia Economic Development Authority, State Lottery Revenue Bonds, Series 2010A, 5.000%, 6/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,627,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">40,855</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding &amp; Improvement Series 2013A, 5.500%, 6/01/44</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">44,926,201</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">55,900</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total West Virginia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">60,618,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin &#8211; 4.3% (2.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Cornerstone Charter Academy, North Carolina, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,714,038</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 2/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">291,717</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Corvian Community School Bonds, North Carolina, Series 2017A, 5.125%, 6/15/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Envision Science Academy Project, Series 2016A, 5.125%, 5/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,417,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Phoenix Academy Charter School, North Carolina, Series 2017A, 5.625%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,772,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Uwharrie Charter Academy, North Carolina, Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">952,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,790</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 6/15/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,686,287</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">34,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 7.000%, 12/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">39,464,953</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Proton Therapy Center, Senior Series 2017A., 7.000%, 10/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,717,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">54</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z7cdc710ee54448c09bc8079fc916f8cd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/38, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,308,026</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,575</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,664,192</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C, 4.050%, 11/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,553,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority, Wisconsin, Revenue Bonds, Prime Healthcare Foundation, Inc., Series 2017A.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,830</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,873,481</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,565</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.200%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,583,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, American Baptist Homes of the Midwest Obligated Group, Refunding Series 2017, 5.000%, 8/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,012,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,460</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2012A, 5.000%, 7/15/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,109,474</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2013A, 5.125%, 4/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,711,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,620</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Health Inc. Obligated Group, Series 2012A, 5.000%, 4/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,039,377</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,315,691</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,485</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,572,452</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,490</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.500%, 2/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,597,597</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,734,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,580,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc., Series 2011A, 5.750%, 5/01/35 (Pre-refunded 5/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,381,475</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Refunding Series 2015, 3.375%, 8/15/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,035,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rocket Education Obligated Group, Series 2017C, 5.250%, 6/01/40, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500,098</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A, 5.000%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,077,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Saint John&#8217;s Communities Inc., Series 2015B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">569,591</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,029,970</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 5.000%, 8/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,081,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,565</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,671,345</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,775</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,869,661</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080,350</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 10/01/49</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,624,890</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">130,480</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Wisconsin</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">140,094,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">55</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z84bca90973444e0e90b9e3b426ca7be5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen AMT-Free Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zcd0e718030b14376b811210edc820993" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wyoming &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,035</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative &#8211; Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,120,958</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Teton County Hospital District, Wyoming, Hospital Revenue Bonds, St. John&#8217;s Medical Center Project, Series 2011B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,071,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,087,630</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,035</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Wyoming</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,280,188</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,766,459</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Municipal Bonds (cost $4,828,650,439)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,138,002,568</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z4c32932fd6734d50a2f413519dd5d9ee" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 41%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Coupon</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Maturity</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial"><b>CORPORATE BONDS &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Transportation &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,244</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Monorail Company, Senior Interest Bonds (9), (10)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.500%</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/15/19</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">795,571</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">344</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Monorail Company, Senior Interest Bonds (9), (10)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.500%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/15/55</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">171,987</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,588</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Corporate Bonds (cost $96,729)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">967,558</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Total Long-Term Investments (cost $4,828,747,168)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>5,138,970,126</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zfc5b111e923b44779ad7fbefdb1b40c8" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>SHORT-TERM INVESTMENTS &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>MUNICIPAL BONDS &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County School Board, Florida, Variable Rate Demand Bond Obligations, Certificates of Participation, Tender Option Bond Floater 2013-002, 1.840%, 5/01/31 (11)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Short-Term Investments (cost $10,000,000)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Total Investments (cost $4,838,747,168) &#8211; 159.8%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>5,148,970,126</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Floating Rate Obligations &#8211; (6.0)%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(192,750,000</b></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><b>)</b></font><font style="FONT-FAMILY: Arial">&#160;</font></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>MuniFund Term Preferred Shares, net of deferred offering costs &#8211; (12.6)% (12)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(405,094,990</b></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><b>)</b></font><font style="FONT-FAMILY: Arial">&#160;</font></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Variable Rate Demand Preferred Shares, net of deferred offering costs &#8211; (43.7)% (13)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(1,407,633,477</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Other Assets Less Liabilities &#8211; 2.5% (14)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>78,967,650</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Net Assets Applicable to Common Shares &#8211; 100%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>$</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>3,222,459,309</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Investments in Derivatives<br>
<b>Interest Rate Swaps &#8211; OTC Cleared</b></p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zada174ebfa764d91a46315968094e40f" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 10%"><b>Notional</b><br>
<b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 7%"><b>Fund</b><br>
<b>Pay/Receive</b><br>
<b>Floating Rate</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"><b>Floating Rate</b><br>
<b>Index</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 7%"><b>Fixed Rate</b><br>
<b>(Annualized)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 7%"><b>Fixed Rate</b><br>
<b>Payment</b><br>
<b>Frequency</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Effective</b><br>
<b>Date (15)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Maturity</b><br>
<b>Date</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Premiums</b><br>
<b>Paid</b><br>
<b>(Received)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"><b>Unrealized</b><br>
<b>Appreciation</b><br>
<b>(Depreciation)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"><b>Variation</b><br>
<b>Margin</b><br>
<b>Receivable/</b><br>
<b>(Payable</b></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><b>)</b></font><font style="FONT-FAMILY: Arial">&#160;</font></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$79,400,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Receive</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3-Month LIBOR</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.363</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Semi-Annually</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">9/10/18</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">9/10/28</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,457,277</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,017</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,456,260</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(156,249</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">56</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Interest Rate Swaps &#8211; OTC Uncleared</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z6a0df85a39294aeba67d087f06fe2669" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 17%"><b>Counterparty</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Notional</b><br>
<b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 7%"><b>Fund</b><br>
<b>Pay/Receive</b><br>
<b>Floating Rate</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 7%"><b>Floating</b><br>
<b>Rate</b><br>
<b>Index</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Fixed Rate</b><br>
<b>(Annualized)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Fixed Rate</b><br>
<b>Payment</b><br>
<b>Frequency</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Effective</b><br>
<b>Date (15)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%"><b>Optional</b><br>
<b>Termination</b><br>
<b>Date</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%"><b>Maturity</b><br>
<b>Date</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"><b>Unrealized</b><br>
<b>Appreciation</b><br>
<b>(Depreciation</b></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Arial, Helvetica, Sans-Serif"><b>)</b></font><font style="FONT-FAMILY: Arial">&#160;</font></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">JPMorgan Chase Bank, N.A.</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">43,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Receive</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Weekly SIFMA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.841%</td>
<td style="BORDER-BOTTOM: black 1.5pt solid"></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Quarterly</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">8/24/18</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">9/24/18</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">8/24/28</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zccdc9cf0d1504ff7ac38d8329a365bd0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 7%">(1)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 93%">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(2)</td>
<td style="FONT-FAMILY: Arial">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(3)</td>
<td style="FONT-FAMILY: Arial">The ratings disclosed are the lowest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(4)</td>
<td style="FONT-FAMILY: Arial">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(5)</td>
<td style="FONT-FAMILY: Arial">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(6)</td>
<td style="FONT-FAMILY: Arial">The coupon for this security increased 0.25% effective January 1, 2016 and increased an additional 0.25% effective May 11, 2016.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(7)</td>
<td style="FONT-FAMILY: Arial">Step-up coupon bond, a bond with a coupon that increases (&#8220;steps up&#8221;), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(8)</td>
<td style="FONT-FAMILY: Arial">As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(9)</td>
<td style="FONT-FAMILY: Arial">Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 &#8211; Investment Valuation and Fair Value Measurements for more information.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(10)</td>
<td style="FONT-FAMILY: Arial">During January 2010, Las Vegas Monorail Company (&#8220;Las Vegas Monorail&#8221;) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund&#8217;s Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(11)</td>
<td style="FONT-FAMILY: Arial">Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(12)</td>
<td style="FONT-FAMILY: Arial">MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 7.9%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(13)</td>
<td style="FONT-FAMILY: Arial">Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 27.3%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(14)</td>
<td style="FONT-FAMILY: Arial">Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (&#8220;OTC&#8221;) derivatives as presented on the Statement of Assets and Liabilities, when applicable. The unrealized appreciation (depreciation) of OTC cleared and exchange-traded derivatives is recognized as part of the cash collateral at brokers and/or the receivable or payable for variation margin as presented on the Statement of Assets and Liabilities, when applicable.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(15)</td>
<td style="FONT-FAMILY: Arial">Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">144A</td>
<td style="FONT-FAMILY: Arial">Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">ETM</td>
<td style="FONT-FAMILY: Arial">Escrowed to maturity.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">IF</td>
<td style="FONT-FAMILY: Arial">Inverse floating rate security issued by a tender option bond (&#8220;TOB&#8221;) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">LIBOR</td>
<td style="FONT-FAMILY: Arial">London Inter-Bank Offered Rate</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">SIFMA</td>
<td style="FONT-FAMILY: Arial">Securities Industry and Financial Market Association</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">UB</td>
<td style="FONT-FAMILY: Arial">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">57</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z547059bd15c541449ad99ae6ca6afeaa" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial"><b>Portfolio of Investments</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z5d5c12ac760a4c6db8eaaa0ac0cac8d4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>LONG-TERM INVESTMENTS &#8211; 161.2% (100.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>MUNICIPAL BONDS &#8211; 161.1% (99.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Alabama &#8211; 1.3% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,585</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alabama Private Colleges and University Facilities Authority, Limited Obligation Bonds, University of Mobile Project, Series 2015A, 6.000%, 9/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,527,137</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,425</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alabama Special Care Facilities Financing Authority, Birmingham, Hospital Revenue Bonds, Daughters of Charity National Health System &#8211; Providence Hospital and St. Vincent&#8217;s Hospital, Series 1995, 5.000%, 11/01/25 (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,106,427</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,835</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,918,268</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,375</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Selma Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Series 2010A, 5.800%, 5/01/34</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,559,086</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">26,220</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Alabama</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">28,110,918</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Alaska &#8211; 0.7% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/31 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085,690</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/33 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,177,710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/34 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,112,541</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.625%, 6/01/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">339,431</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,010</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,009,720</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,190</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Alaska</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,725,092</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arizona &#8211; 3.4% (2.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,392,404</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,820</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona Health Facilities Authority, Revenue Bonds, Scottsdale Lincoln Hospitals Project, Refunding Series 2014A, 5.000%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,111,955</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona Industrial Development Authority, Education Revenue Bonds, Legacy Traditional School Southwest Las Vegas Nevada Campus, Series 2018, 5.2505, 7/01/22, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,893,316</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project, Refunding Senior Series 2012A, 5.000%, 7/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,085,255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,390</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arizona State Transportation Board, Highway Revenue Bonds, Tender Option Bond Trust 2017-XG0131, 10.117%, 7/01/33, 144A (Pre-refunded 7/01/18) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,444,138</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cahava Springs Revitalization District, Cave Creek, Arizona, Special Assessment Bonds, Series 2017A, 7.000%, 7/01/41, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,333,833</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,185</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Eastmark Community Facilities District 1, Mesa, Arizona, General Obligation Bonds, Series 2015, 5.000%, 7/15/39, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,260,198</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/40 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,778,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2008A, 5.000%, 7/01/38 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,757,887</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,360</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy Traditional Schools East Mesa and Cadence, Nevada Campuses, Series 2017A, 4.000%, 7/01/22, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,248,776</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,065</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy Traditional Schools Phoenix/East Mesa and Cadence, Nevada Campuses, Series 2017B, 4.000%, 7/01/22, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,986,812</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">58</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z729c8f157d1f4a23b76e4cc83e0b3cdd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arizona </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Phoenix Mesa Gateway Airport Authority, Arizona, Special Facility Revenue Bonds, Mesa Project, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/27 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">432,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/32 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020,347</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pima County Industrial Development Authority, Arizona, Education Facility Revenue and Refunding Bonds, Edkey Charter Schools Project, Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">313,315</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">365</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">327,828</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">205</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">181,618</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,390</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2014A, 7.375%, 7/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,317,873</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,790</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,548,726</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,140</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,846,542</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">595</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2016, 6.500%, 2/01/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">560,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,060</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2017., 6.750%, 2/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,994,410</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">865</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Noah Webster Schools ? Pima Project, Series 2014A, 7.250%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">822,667</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise Education Center Project, Series 2010, 6.100%, 6/01/45 (Pre-refunded 6/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">679,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,710</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pinal County Electrical District 3, Arizona, Electric System Revenue Bonds, Refunding Series 2011, 5.250%, 7/01/41 (Pre-refunded 7/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,070,612</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,235</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,470,232</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">71,690</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Arizona</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">73,878,564</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California &#8211; 25.2% (15.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue Bonds, Channing House, Series 2010, 6.000%, 5/15/30 (Pre-refunded 5/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,625,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">ABC Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2000B, 0.000%, 8/01/23 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,744,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,225</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alameda Unified School District, Alameda County, California, General Obligation Bonds, Series 2005B, 0.000%, 8/01/28 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,088,897</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Refunding Series 2007A-1, 4.375%, 3/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,008,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">535</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A, 5.000%, 3/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">562,552</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Blythe Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Redevelopment Project 1, Refunding Series 2015, 5.000%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,033,456</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Calexico Unified School District, Imperial County, California, General Obligation Bonds, Series 2005B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,070</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/32 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,380,543</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,410</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/34 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,400,569</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Golden Gate Tobacco Funding Corporation, Turbo, Series 2007A, 5.000%, 6/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,294,987</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,280</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.450%, 6/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,317,326</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.600%, 6/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,654,035</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,025</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.650%, 6/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,095,947</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Merced County Tobacco Funding Corporation, Series 2005A, 5.000%, 6/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525,215</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">59</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z84a1a8f700ad4725a66d5b66b707faea" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z8f9c8481f3754a7691b1e9a95a320cbd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp; Services, Series 2009B, 5.500%, 10/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,563,064</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,840</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,300,262</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">710</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">788,192</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Infrastructure and Economic Development Bank. Clean Water State Revolving Fund Revenue Bonds, Green Series 2018., 5.000%, 10/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,354,918</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">825</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Charter School Lease Revenue Bonds, Santa Rosa Academy Project, Series 2015, 5.375%, 7/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">863,841</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,470,028</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,120</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Series 2012, 5.000%, 11/21/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,306,613</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep &#8211; Obligated Group, Series 2016, 5.000%, 6/01/51, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,023,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Various Projects Series 2013A, 5.000%, 3/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,220</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 6.375%, 11/01/34 (Pre-refunded 11/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,303,582</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2010A-1, 5.750%, 3/01/30 (Pre-refunded 3/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,607,025</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2011A, 5.125%, 10/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,919,670</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California State, General Obligation Bonds, Various Purpose Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 3/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,067,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,145,915</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State, General Obligation Bonds, Various Purpose Series 2011, 5.250%, 10/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,310,740</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,320</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.500%, 12/01/54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">27,285,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,905</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,476,434</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,045</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,707,595</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/56, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,146,578</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,030</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 10/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085,074</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/40 (Pre-refunded 1/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,079,652</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.500%, 7/01/39 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000,010</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">755</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005H, 5.750%, 7/01/25 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">756,782</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,455</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38 (Pre-refunded 8/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,602,865</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.350%, 12/01/21 (Pre-refunded 6/01/18) &#8211; NPFG Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,045</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,955</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District 98-2, Series 2005, 0.000%, 9/01/31 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,956,574</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clovis Unified School District, Fresno County, California, General Obligation Bonds, Election 2012 Series 2013B, 5.000%, 8/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,326,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">60</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z1b303e7c37a54a42a04f3f868f921877" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Coast Community College District, Orange County, California, General Obligation Bonds, Series 2005, 0.000%, 8/01/22 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,638,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colton Joint Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2006C, 0.000%, 2/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,802,815</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,290</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Contra Costa County, California, GNMA Mortgage-Backed Securities Program Home Mortgage Revenue Bonds, Series 1989, 7.750%, 5/01/22 (Alternative Minimum Tax) (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,642,885</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,320</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Davis, California, Special Tax Bonds, Community Facilities District 2015-1 Series 2015, 5.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,436,305</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,510</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 1, Series 2004B, 0.000%, 10/01/28 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,794,198</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,360</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 2, Series 2002A, 0.000%, 7/01/27 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,541,470</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A, 0.000%, 1/15/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,972,499</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/15/26 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,552,610</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 1/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,774,484</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/15/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,140,102</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,505</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Foothill-De Anza Community College District, Santa Clara County, California, Election of 1999 General Obligation Bonds, Series A, 0.000%, 8/01/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,087,096</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,315</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gateway Unified School District, California, General Obligation Bonds, Series 2004B, 0.000%, 8/01/32 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,369,276</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gavilan Joint Community College District, Santa Clara and San Benito Counties, California, General Obligation Bonds, Election of 2004 Series 2011D, 5.750%, 8/01/35 (Pre-refunded 8/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,120,990</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,170</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/26 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,514,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,420</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,537,828</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">32,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">33,742,344</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,549,729</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grossmont Healthcare District, California, General Obligation Bonds, Series 2011B, 6.125%, 7/15/40 (Pre-refunded 7/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,076,997</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hillsborough City School District, San Mateo County, California, General Obligation Bonds, Series 2006B, 0.000%, 9/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,467,816</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2005, 0.000%, 8/01/31 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,186,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/32 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,520,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007C-2, 0.000%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,031,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007, 0.000%, 6/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,262,468</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018A., 5.000%, 5/15/44 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,225,795</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2018A., 5.000%, 7/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">27,287,165</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Los Angeles Regional Airports Improvement Corporation, California, Lease Revenue Refunding Bonds, LAXFUEL Corporation at Los Angeles International Airport, Series 2012, 4.500%, 1/01/27 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,863,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2008 Series 2018B-1, 5.000%, 7/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,369,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">61</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;&#160;</p>

<table id="z0ac089bd8be140f7b3d3ac225604eee7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6b851afac4b448dd988c9fbdf3cd666d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Madera County, California, Certificates of Participation, Children&#8217;s Hospital Central California, Series 2010, 5.375%, 3/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">568,064</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Martinez Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2011, 5.875%, 8/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,393,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mendocino-Lake Community College District, Mendocino and Lake Counties, California, General Obligation Bonds, Election 2006, Series 2011B, 5.600%, 8/01/31 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,208,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,030</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/28 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">979,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/43 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/35 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,859,573</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B, 6.500%, 11/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,507,188</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 11/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,772,251</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 11/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,047,198</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">North Orange County Community College District, California, General Obligation Bonds, Election of 2002 Series 2003B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,735</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/25 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,437,376</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/26 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,358,755</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,885</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Norwalk La Mirada Unified School District, Los Angeles County, California, General Obligation Bonds, Election of 2002 Series 2005B, 0.000%, 8/01/25 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,822,401</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.625%, 11/01/29 (Pre-refunded 11/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,211,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">770</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 5.250%, 11/01/21 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">813,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/24 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,950,960</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/40 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/30 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,897,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 &#8211; AGC Insured (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/29 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,084,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Paramount Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2001B, 0.000%, 9/01/23 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,536,972</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,315</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Perris, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Bonds, Series 1989A, 7.600%, 1/01/23 (Alternative Minimum Tax) (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,551,345</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Petaluma, Sonoma County, California, Wastewater Revenue Bonds, Refunding Series 2011, 5.500%, 5/01/32 (Pre-refunded 5/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,758,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Refunding Series 2011, 6.250%, 10/01/28 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,395,506</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Redlands Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2003, 0.000%, 7/01/27 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,403,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation Bonds, Refunding Series 2010, 6.125%, 6/30/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,139,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">205</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">227,398</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,755</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sacramento City Unified School District, Sacramento County, California, General Obligation Bonds, Series 2007, 0.000%, 7/01/25 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,221,053</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,955,481</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">165</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1 Marblehead Coastal, Series 2015, 5.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">177,994</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">62</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2cee071a352540b9b2efecc8d41fd9f6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Diego Community College District, California, General Obligation Bonds, Tender Option Bond Trust 2016-XG0053, 10.380%, 8/01/41, 144A (Pre-refunded 8/01/21) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,877,290</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,830</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 2015-XF0098, 14.934%, 8/01/39, 144A (Pre-refunded 8/01/19) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,167,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,875</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A, 5.000%, 5/01/47 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,841,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">670</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2009C, 6.500%, 8/01/39 (Pre-refunded 8/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">708,726</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Joaquin Delta Community College District, California, General Obligation Bonds, Election 2004 Series 2008B, 0.000%, 8/01/29 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 53.32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,201,865</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B, 5.250%, 1/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,931,255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,630</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,182,146</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,160</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,411,441</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,205</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/23 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,327,719</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,760</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,510,733</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">690</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Semitrophic Improvement District of Semitrophic Water Storage District, Kern County, California, Revenue Bonds, Refunding Series 2009A, 5.000%, 12/01/38 (Pre-refunded 12/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">723,913</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Silicon Valley Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Santa Clara County Tobacco Securitization Corporation, Series 2007A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,751,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">37,555</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,711,454</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2006A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,595</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,628,510</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,090</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,095,315</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Walnut Valley Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2000 Series 2003D, 0.000%, 8/01/27 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,383,030</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wiseburn School District, Los Angeles County, California, General Obligation Bonds, Series 2011B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,005</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/01/36 &#8211; AGM Insured (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,416,946</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 5/01/41 (Pre-refunded 8/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,350,021</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Yuba Community College District, California, General Obligation Bonds, Election 2006 Series 2011C, 5.250%, 8/01/47 (Pre-refunded 8/01/21)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,315,930</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">608,700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total California</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">552,725,166</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado &#8211; 6.6% (4.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Adams County School District 1, Mapleton Public Schools, Colorado, General Obligation Bonds, Series 2010, 6.250%, 12/01/35 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,382,612</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Anthem West Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2015, 5.000%, 12/01/35 &#8211; BAM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,644,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 &#8211; SYNCORA GTY Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,600,016</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,215</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Base Village Metropolitan District 2, Colorado, General Obligation Bonds, Refunding Series 2016A, 5.500%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,238,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2013, 7.000%, 12/01/23 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">705,887</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">63</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="za857e5e920cc403b8a2c092d3cec75f7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z93cd2d86dde34d6cad483070a47ffede" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Canyons Metropolitan District 5, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding &amp; Improvement Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">775</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">780,107</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,320</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,335,915</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">685</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Canyons Metropolitan District 6, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding &amp; Improvement Series 2017A, 6.125%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">678,951</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Castle Oaks Metropolitan District 3, Castle Rock, Douglas County, Colorado, General Obligation Limited Tax Bonds, Series 2016, 5.500%, 12/01/45 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">557,230</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding &amp; Improvement Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">770</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">788,503</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,210</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,241,912</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">625</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2013A, 6.000%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">719,631</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cherry Creek Corporate Center Metropolitan District, Arapahoe County, Colorado, Revenue Bonds, Refunding Senior Lien Series 2015A, 5.000%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">997,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,240</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado City Metropolitan District, Oueblo county, Colorado, Water and Wastewater Enterprise Revenue Bonds, Refunding &amp; Improvement Series 2012, 4.500%, 12/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,265,966</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Pinnacle Charter School, Inc. High School Project, Series 2010, 5.000%, 12/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,027,350</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,135</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Montessori Peaks Academy, Series 2006A, 5.400%, 5/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,086,301</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,440</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 4.500%, 9/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,450,762</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.500%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,443,087</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,928,519</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Children&#8217;s Hospital Colorado Project, Series 2013A, 5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,183,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Craig Hospital Project, Series 2012, 4.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,014,940</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,655</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A, 5.000%, 6/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,887,604</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">585</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.625%, 6/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">651,310</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,182,430</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of <font style="FONT-FAMILY: Arial">Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40</font></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,976,790</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,105</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding &amp; Improvement Series 2018., 5.875%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,188,926</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Springs, Colorado, Utilities System Revenue Bonds, Improvement Series 2013B-1, 5.000%, 11/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,515,657</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,486</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,175</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/34 (Pre-refunded 3/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,205,338</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/01/34 (Pre-refunded 3/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,129</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,945</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Refunding Series 2015, 5.000%, 8/01/36 &#8211; BAM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,151,209</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Concord Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Refunding Series 2010, 5.375%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,030,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">64</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z15fef3d253104367a43b72f82171ea67" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Copperleaf Metropolitan District 2, Colorado, General Obligation Limited Tax Bonds, Series 2006, 5.250%, 12/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">524,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,418,592</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,214,662</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Capital Appreciation Series 2010A, 0.000%, 9/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,005,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,845</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/26 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,834,266</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/29 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,090,059</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/31 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,835,602</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/32 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,913,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,135</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/28 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 63.98</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,896,619</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Eaton Area Park and Recreation District, Colorado, General Obligation Limited Tax Bonds, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">475</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">511,328</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">180</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">189,711</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie Highlands Metropolitan District No. 1 (In the Town of Erie), Weld County, Colorado, General Obligation Limited Tax Bonds, Series 2015A, 5.750%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">506,870</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">968</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Flatiron Meadows Metropolitan District, Boulder County, Colorado, General Obligation Limited Tax Bonds, Series 2016, 5.125%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">941,777</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,125</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,157,794</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,021,710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">770</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Great Western Park Metropolitan District 2, Broomfield City and County, Colorado, General Obligation Bonds, Series 2016A, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">771,247</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,522,616</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,817,247</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Meridian Metropolitan District, Douglas County, Colorado, General Obligation Refunding Bonds, Series 2011A, 5.000%, 12/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,070,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">825</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Range Metropolitan District No. 2 , In the City of Commerce City, Adams County,</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">828,473</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado, Limited Tax General Obligation and Special Revenue and Improvement Bonds, Refunding Series 2017A, 5.750%, 12/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,050,081</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,325,424</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Parker Automotive Metropolitan District (In the Town of Parker, Colorado), General Obligation Bonds, Refunding Series 2016, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">466,715</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,688,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,355</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/15/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,663,987</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,365</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,517,117</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,034</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reserve Metropolitan District 2, Mount Crested Butte, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2016A, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,038,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sierra Ridge Metropolitan District 2, Douglas County, Colorado, General Obligation Bonds, Limited Tax Series 2016A, 5.500%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">536,004</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">65</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zf6e10b31f1884551a974ff2fdbdeeebd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="za1ef9440ccf64b8d8fc4818c987b5e80" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Thompson Crossing Metropolitan District No. 6 in the Town of Johnstown, Larimer County, Colorado, General Obligation Limited Tax Bonds Series 2015A, 6.000%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">657,007</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">55</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Water Valley Metropolitan District 1, Colorado, General Obligation Bonds, Refunding Series 2016, 5.250%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">57,271</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">105</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Water Valley Metropolitan District 2, Windsor, Colorado, General Obligation Bonds, Refunding Series 2016, 5.250%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">111,859</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">163,852</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Colorado</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">146,072,106</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Connecticut &#8211; 0.1% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare, Series 2011A, 5.000%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,579,635</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida &#8211; 4.3% (2.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2010A, 6.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,310,137</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,005</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,043,471</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">865</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">897,273</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">635</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Belmont Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2016A, 5.375%, 11/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">655,993</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">535</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Belmont Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2016B, 5.625%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">545,957</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bexley Community Development District, Pasco County, Florida, Special Assessment Revenue Bonds, Series 2016, 4.700%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">674,869</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,115</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brevard County Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Health First, Inc. Project, Series 2009B, 7.000%, 4/01/39 (Pre-refunded 4/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,211,825</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,430</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Broward County, Florida, Airport Facility Revenue Bonds, Learjet Inc., Series 2000, 7.500%, 11/01/20 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,431,269</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,005</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Broward County, Florida, Airport System Revenue Bonds, Refunding Series 2009O, 5.375%, 10/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,241,386</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brwoard County, Florida, Fuel System Revenue Bonds, Fort Lauderdale Fuel Facilities LLC Project, Series 2013A, 5.000%, 4/01/33 &#8211; AGM Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,584,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,390</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Trust Agency, Florida, Multifamily Housing Revenue Bonds, The Gardens Apartments Project, Series 2015A, 5.000%, 7/04/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,547,381</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">125</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">128,247</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">160</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.600%, 11/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">166,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-2, 5.625%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">345,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Downtown Doral Community Development District, Florida, Special Assessment Bonds, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">555</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 5/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">564,418</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.300%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">625,012</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">955</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">959,909</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,310,859</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Elementary School Project, Series 2017C.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,115</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.650%, 7/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085,653</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,385</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,273,329</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">66</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd1fa1e0921e84a7bb9036444fb52330d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Florida Charter Foundation Inc. Projects, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 6/15/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,040,202</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,420</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 7/15/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,342,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,575</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.375%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,636,130</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,465</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,387,809</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Pepin Academies Inc., Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">937,490</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,785</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,249,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/15/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">943,992</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">579,684</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University, Refunding Series 2011, 6.375%, 4/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,205,710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,310</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida, Development Finance Corporation, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project &#8211; South Segment, Series 2017., 0.000%, 1/01/47, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,407,413</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">320</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, South Parcel Assessment Area Project, Series 2016, 4.750%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">321,056</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,695</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Series 2015A, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,090,695</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Lien Series 2015B, 5.000%, 10/01/40 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,879,815</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,490</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Special Obligation Bonds, Refunding Subordinate Series 2012B, 5.000%, 10/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,699,733</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,045</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,659,747</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,140</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Northern Palm Beach County Improvement District, Florida, Water Control and Improvement Bonds, Development Unit 53, Series 2015, 5.350%, 8/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,291,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,185</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., Series 2012A, 5.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,353,573</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Orlando, Florida, Capital Improvement Special Revenue Bonds, Series 2014B, 5.000%, 10/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,612,795</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">85</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of Boca Raton Project, Series 2014A, 7.250%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">97,862</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">545</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reunion West Community Development District, Florida, Special Assessment Bonds, Area 3 Project, Series 2016, 5.000%, 11/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">549,883</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Six Mile Creek Community Development District, Florida, Capital Improvement Revenue Bonds, Assessment Area 2, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">175</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.750%, 11/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">177,018</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 11/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">300,602</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Village Community Development District, Clay County, Florida, Capital Improvement Revenue Bonds, Refunding Series 2016A1, 3.625%, 5/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">366,379</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">South Village Community Development District, Clay County, Florida, Capital Improvement Revenue Bonds, Refunding Series 2016A2:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">140</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.350%, 5/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">140,909</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.875%, 5/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100,890</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central Florida Health Alliance Projects, Series 2014A, 5.125%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,459,606</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sunrise, Florida, Utility System Revenue Refunding Bonds, Series 1998, 5.000%, 10/01/28 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,142,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">67</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z31d1ff07a87947669849c93c47fcfc38" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z440fa41e91e34513aadeb761f79cfe55" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,590,994</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">189,282</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">85</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">67,503</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">110</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.650%, 5/01/40 (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007-1. RMKT, 6.650%, 5/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,697</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">234,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">180</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">117,949</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">195</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union Park Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2016A-1, 5.375%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">307,284</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">105</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union Park Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2016A-2, 5.625%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">106,644</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">91,855</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Florida</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">94,201,884</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Georgia &#8211; 2.5% (1.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,725</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta Development Authority, Georgia, Revenue Bonds, New Downtown Atlanta Stadium Project, Senior Lien Series 2015A-1, 5.250%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,102,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2010C, 5.250%, 1/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,180,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">980</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.250%, 11/01/34 (Pre-refunded 11/01/19) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,029,127</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">520</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.250%, 11/01/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">544,175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 1999A, 5.500%, 11/01/22 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,859,404</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,489,785</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">616,851</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,910</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/15/30 (Pre-refunded 2/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,008,957</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">475</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">496,726</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,180</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 2/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,227,637</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/37 (Pre-refunded 2/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,610,659</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,820</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 2/15/40 (Pre-refunded 2/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,026,242</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Georgia Municipal Electric Authority, General Power Revenue Bonds, Series 1993B, 5.700%, 1/01/19 &#8211; FGIC Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,766,808</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,010</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Georgia Municipal Electric Authority, Plant Vogtle Units 3 &amp; 4 Project J Bonds, Series 2015A, 5.000%, 7/01/60</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,242,059</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">840</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Macon-Bibb County Urban Development Authority, Georgia, Revenue Bonds, Academy for Classical Education, Series 2017, 5.875%, 6/15/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">861,571</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">68</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2e0f9886f5b744e584051fe164298780" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Georgia </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Marietta Development Authority, Georgia, University Facilities Revenue Bonds, Life University, Inc. Project, Refunding Series 2017A, 5.000%, 11/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,124,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Medical Center Hospital Authority, Georgia, Revenue Anticipation Certificates, Columbus</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,528,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">
<div style="MARGIN-LEFT: 10pt">Regional Healthcare System, Inc. Project, Series 2008, 6.500%, 8/01/38 (Pre-refunded 8/01/18) &#8211; AGC Insured</div>
</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">51,375</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Georgia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">54,716,311</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Guam &#8211; 0.2% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.500%, 7/01/30 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,296,680</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">810</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">880,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,810</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Guam</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,176,980</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Hawaii &#8211; 0.2% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010A, 5.500%, 7/01/40 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,073,510</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2013A, 5.500%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,312,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,175</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.625%, 7/01/33</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,237,369</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,175</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Hawaii</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,623,239</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Idaho &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,175</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016, 5.000%, 9/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,246,369</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">595</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights Mitigation Series 2012A, 5.000%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">646,241</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,770</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Idaho</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,892,610</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois &#8211; 29.7% (18.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">50,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">58,229,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A, 5.500%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,009,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 7.000%, 12/01/42, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,926,028</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,455</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017H, 5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,444,516</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,105,136</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">51,780</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">59,476,579</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,210</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,317,057</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Series 1999A, 0.000%, 12/01/26 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">306,913</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,715</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/26 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,169,681</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,060</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/28 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,224,021</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">981,428</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">69</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="ze5c9d318560c4346b62785c36a44b66c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd186f3540d004d09b6dbca710f192972" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,585</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/27 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,682,990</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,240</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/01/31 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,816,856</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,588,358</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,755</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/29 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,157,914</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/34 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,285,910</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,310</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,247,005</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">670</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Neighborhoods Alive 21 Program, Series 2002B, 5.500%, 1/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">714,515</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,695</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2014A, 5.000%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,742,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">27,095</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2017A, 6.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,002,835</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2005D, 5.500%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,091,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,458,859</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">592,985</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project Series 2011A, 5.250%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,017,803</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project Series 2012A, 5.000%, 1/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">557,304</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago, Illinois, General Obligation Bonds, Refunding Series 2007E:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,115</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,661,412</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,890</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,149,631</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">275</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Refunding Series 2008A, 5.250%, 1/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">275,330</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, 5.000%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">785,028</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,610</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Series 1999, 0.000%, 1/01/30 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">990,327</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago, Illinois, General Obligation Bonds, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,054,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,260,502</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,630</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, Sales Tax Revenue Bonds, Series 2011A, 5.250%, 1/01/38 (Pre-refunded 1/01/22)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,254,198</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cook County Forest Preserve District, Illinois, General Obligation Bonds, Personal Property Replacement Tax Alternate Source, Series 2012C, 5.000%, 12/15/37 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,313,462</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,784,327</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A, 5.500%, 12/01/30, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">818,072</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Charter School Revenue Bonds, Uno Charter School Network, Refunding and Improvement Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 10/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,617,064</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,535</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.125%, 10/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,686,517</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39 (Pre-refunded 11/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,578,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009, 5.250%, 11/01/39 (Pre-refunded 11/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,049,370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Children&#8217;s Memorial Hospital, Series 2008A, 5.250%, 8/15/47 &#8211; AGC Insured (Pre-refunded 8/15/18) (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,020,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,675</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Columbia College Chicago, Series 2015A, 5.000%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,775,607</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,220</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, DePaul University, Series 2011A, 5.750%, 10/01/27 (Pre-refunded 4/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,743,253</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">70</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z5da917d394d2447da06c0646708c0ed1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">845</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Illinois Wesleyan University, Refunding Series 2016, 5.000%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">900,009</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 5.000%, 5/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,247,696</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">630</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 5/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">672,846</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,030</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 5/15/39 (Pre-refunded 5/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,188,665</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.750%, 8/15/34 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,366</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">495</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.750%, 8/15/34 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">531,204</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">415</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">462,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">905</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,002,423</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Resurrection Health Care Corporation, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 5/15/25 (Pre-refunded 5/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">104,387</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">90</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 5/15/25 (Pre-refunded 5/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">93,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 5/15/25 (Pre-refunded 5/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,931,814</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.625%, 11/01/39 (Pre-refunded 5/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,741,840</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2008A, 6.000%, 8/15/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,029,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C, 5.000%, 8/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,107,582</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 8/15/38 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,434,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 8/15/44 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,127,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc.,</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">529,610</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Series 2005 Remarketed, 5.250%, 3/01/30 (Pre-refunded 3/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41 (Pre-refunded 2/15/21) (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,725,225</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,125</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,393,455</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2015A, 5.000%, 10/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,295,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, April Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,165</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,202,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 4/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,025,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, February Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,010</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,072,109</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,518,505</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,745</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,832,259</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 2/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,029,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,565</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, June Series 2016, 5.000%, 6/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,928,756</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois State, General Obligation Bonds, November Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,171,083</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,062,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,438,184</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, November Series 2017D, 5.000%, 11/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,016,949</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,107,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">27,215</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, Series 2013, 5.500%, 7/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,037,709</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,906,125</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">71</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z343d6053b9cb4166b936343e4b798e74" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z4f69a01868ac446ab1708a0f01eb6cb0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,755</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,040,418</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 12.874%, 1/01/38, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">762,854</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kane &amp; DeKalb Counties Community Unit School District 301, Illinois, General Obligation Bonds, Series 2006, 0.000%, 12/01/23 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,090,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lake, Cook, Kane and McHenry Counties Community Unit School District 220, Barrington, Illinois, General Obligation Bonds, Series 2002, 5.250%, 12/01/19 &#8211; AGM Insured (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,272,017</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Mc Henry and Lake Counties Community Consolidated School District 26, Cary, Illinois, General Obligation Bonds, Series 2011B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,160</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 2/01/21 (Pre-refunded 2/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,245,643</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">85</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 2/01/21 (Pre-refunded 2/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">91,276</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">McHenry and Kane Counties Community Consolidated School District 158, Huntley, Illinois, General Obligation Bonds, Series 2003:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">570</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/21 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525,569</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">745</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/21 (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">702,446</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">McHenry and Lake Counties Community Consolidated School District 26, Cary, Illinois, General Obligation Bonds, Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 2/01/24 (Pre-refunded 2/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">994,691</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">70</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 2/01/24 (Pre-refunded 2/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">74,869</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">960</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 2/01/25 (Pre-refunded 2/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,026,778</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">70</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 2/01/25 (Pre-refunded 2/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">74,869</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,785</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012A, 5.000%, 6/15/42 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,150,303</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 6/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,556,775</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2015B, 5.000%, 6/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,568,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,110</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,753,064</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,455</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,530,123</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017A, 5.000%, 6/15/57</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,294,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,298,011</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,920</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/50 (Pre-refunded 6/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,130,357</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">45,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1, 0.000%, 6/15/43 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,906,350</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 1998A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,680</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/29 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,978,740</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">145</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/15/29 (Pre-refunded 6/15/25) &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">171,045</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2002B., 5.550%, 6/15/21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,052,730</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,960</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2, 5.250%, 6/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,168,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,165</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A, 0.000%, 6/15/21 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,044,527</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">72</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z9b79b9b69f0348dc91c3f2077a87c1dd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.700%, 6/15/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,122,283</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,195</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.700%, 6/15/24 (Pre-refunded 6/15/22)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,515,031</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/30 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,743,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/33 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,910,291</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,915</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/34 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,153,877</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/34 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">203,580</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/35 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,484,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,620</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/35 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,549,183</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">45,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/36 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,413,007</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">38,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/40 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,677,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,720</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 6/15/41 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,169,047</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 10/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">528,178</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 10/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">438,792</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">780</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 5.250%, 6/01/21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">845,614</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,695</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1990A, 7.200%, 11/01/20 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,899,335</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sales Tax Securitization Corporation, Illinois, Sales Tax Securitization Bonds, Series 2018A., 5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,116,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southwestern Illinois Development Authority, Environmental Improvement Revenue Bonds, US Steel Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,843,155</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,580</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,784,025</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11,350</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2006, 0.000%, 1/01/24 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,150,257</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">790,270</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Illinois</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">652,891,366</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Indiana &#8211; 4.4% (2.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Carmel Redevelopment Authority, Indiana, Lease Rent Revenue Bonds, Series 2005:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 2/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,662,005</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,705</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 2/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,233,329</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2000, 0.000%, 1/15/24 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,775,992</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">680</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Educational Facilities Revenue Bonds, Butler University Project, Refunding Series 2012B, 5.000%, 2/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">733,591</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 7.000%, 10/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,061,970</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">520</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2010, 6.000%, 12/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">534,368</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,230</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,239,077</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Health System Revenue Bonds, Franciscan Alliance, Inc. Obligated Group, Series 2016A, 4.000%, 11/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,979,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,465</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Health System Revenue Bonds, Sisters of Saint Francis Health Services, Inc. Obligated Group, Series 2009, 5.250%, 11/01/39 (Pre-refunded 11/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,682,044</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,953,485</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010, 5.125%, 3/01/30 (Pre-refunded 3/02/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,584,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">73</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z2db5fc791f6549149b518b4b8baaaee6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zc6d93a95417a4bb1a69657c4dd3c1839" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Indiana </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,875</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group, Refunding 2015A, 4.000%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,892,231</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Hospital Revenue Bonds, Major Hospital Project, Series 2014A, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,683,997</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,380</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/44 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,737,017</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/48 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,423,595</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,370</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/51 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,765,554</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,730</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2009A, 5.250%, 12/01/38 (Pre-refunded 12/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,079,287</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011B, 5.000%, 10/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,215,096</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Water Utility Revenue Bonds, Citizens Energy Group Project, First Lien Series 2014A, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,466,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E, 0.000%, 2/01/26 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,976,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Merrillville, Indiana, Economic Development Revenue Bonds, Belvedere Housing Project, Series 2016, 5.750%, 4/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">944,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Shoals, Indiana, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Series 2013, 7.250%, 11/01/43 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,406,063</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">830</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2013, 7.000%, 1/01/44 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">975,233</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">97,850</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Indiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">99,004,914</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Iowa &#8211; 1.7% (1.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,055</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,158,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,337,253</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,470</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,565,138</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,710</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018A., 5.250%, 12/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,796,697</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,630</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, University of Dubuque Project, Refunding Series 2011, 6.000%, 10/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,742,128</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Upper Iowa University Project, Series 2012, 5.000%, 9/01/43 (Pre-refunded 9/01/23)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,154,904</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Refunding Series 2009-2, 5.500%, 12/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,085,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt">Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,425</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 6/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,440,741</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">527,079</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,045</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,071,133</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,590</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,658,075</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">35,605</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Iowa</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">36,537,398</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kansas &#8211; 0.6% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Johnson and Miami Counties Unified School District 230, Kansas, General Obligation Bonds, Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,172,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 9/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,086,060</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">74</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z0ef5d79f5fd04a18b2d3ee28ab9da191" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kansas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2012A, 5.000%, 11/15/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,203,740</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,485</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kansas State Power Pool, Electric Utility Revenue Bonds, Dogwood Energy Facility, Series 2012A, 5.000%, 12/01/31 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,594,148</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,035</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Overland Park Development Corporation, Kansas, First Tier Revenue Bonds, Overland Park Convention Center, Series 2007A, 5.125%, 1/01/22 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,038,134</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">465</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Overland Park Transportation Development District, Kansas, Sales Tax Revenue Bonds, Oak Park Mall Project, Series 2010, 5.900%, 4/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">481,884</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Vacation Village Project Area 1 and 2A, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,695</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,798,717</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,725</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 9/01/35</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,831,812</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12,405</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Kansas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13,206,615</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kentucky &#8211; 2.1% (1.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Christian County, Kentucky, Hospital Revenue Bonds, Jennie Stuart Medical Center, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 2/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,357,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 2/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">464,915</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 8/15/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">756,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 8/15/24 (Pre-refunded 8/15/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">757,433</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A, 6.000%, 6/01/30 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,079,820</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010B, 6.375%, 3/01/40 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,540,831</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Kentucky, Healthcare Facilities Revenue Bonds, Rosedale Green Project, Refunding Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 11/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">505,770</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 11/15/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,269,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/33 (Pre-refunded 6/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,003,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/38 (Pre-refunded 6/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,003,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/42 (Pre-refunded 6/01/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,103,806</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,249,813</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,097,878</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/43 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,237,946</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/46 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,136,232</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,374,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">681,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,832,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011, 6.250%, 3/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,476,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">215</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2012A, 4.000%, 10/01/29</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">221,843</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">42,810</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Kentucky</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">45,150,607</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">75</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z4199f6182cff4906a3077ae420cc2047" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd24e51f62ecf49b4ab728c8e57a67ec0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Louisiana &#8211; 2.1% (1.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jefferson Parish Hospital Service District 2, Louisiana, Hospital Revenue Bonds, East Jefferson General Hospital, Refunding Series 2011, 6.375%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,039,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,310</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.500%, 7/01/36, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,104,158</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Refunding Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,586,692</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/39 (Pre-refunded 7/01/25)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,644</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 5.000%, 5/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,650,986</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,425</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2011, 6.750%, 5/15/41 (Pre-refunded 5/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,004,764</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,060</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Southwest Louisiana Charter Academy Foundation Project, Series 2013A, 8.375%, 12/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,110,626</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,235</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A, 5.000%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,460,757</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2015B, 5.000%, 1/01/45 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,500,656</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,560</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 5.000%, 6/01/44</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,781,747</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">42,340</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Louisiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">46,251,570</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maine &#8211; 0.4% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,965</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A, 5.000%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,098,608</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,169,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,135,586</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2010A, 5.000%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,312,150</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,265</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Maine</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,715,564</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maryland &#8211; 0.6% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference Center, Series 2006A, 5.000%, 12/01/31 (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,145</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2016A, 5.500%, 1/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,933,879</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">555</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge Retirement Community, Series 2007, 4.750%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">555,605</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center Issue, Refunding Series 2015, 5.000%, 7/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,143,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">355</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Prince George&#8217;s County Revenue Authority, Maryland, Special Obligation Bonds, Suitland-Naylor Road Project, Series 2016, 5.000%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">348,138</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12,055</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Maryland</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12,180,802</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Massachusetts &#8211; 3.9% (2.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2018D, 4.000%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,602,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,825</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B, 5.000%, 1/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,214,447</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">475</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Green Bonds, Series 2015D, 5.000%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">509,813</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2015, 4.500%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,559,282</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">76</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb332bf705c8849498de27eaaf802a3c9" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Massachusetts </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 5.250%, 10/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,379,869</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">29,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2016J, 3.500%, 7/01/33 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,615,833</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare System, Series 2010J-1, 5.000%, 7/01/39 (Pre-refunded 7/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,553,235</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">620</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &amp;2, 5.125%, 7/01/33 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">623,429</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,006,581</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,860</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 7/01/39 (Pre-refunded 7/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,032,426</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Port Authority, Special Facilities Revenue Bonds, ConRac Project, Series 2011A, 5.125%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">429,212</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,016,866</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,175</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Senior Lien Parking Revenue Bonds, Series 2011, 5.000%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,669,716</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">84,445</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Massachusetts</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">86,213,509</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Michigan &#8211; 2.8% (1.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Detroit Academy of Arts and Sciences, Michigan, Public School Academy Revenue Bonds, Refunding Series 2013:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">955</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 10/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">916,953</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 10/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,139,088</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2001A, 6.000%, 5/01/29 &#8211; AGM Insured (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,803,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,065,119</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 4.500%, 7/01/35 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,007</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%, 7/01/29 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,490,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%, 7/01/36 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,011</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien Series 2011A, 5.250%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,148,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Traverse County Hospital Financial Authority, Michigan, Revenue Bonds, Munson Healthcare, Series 2014A, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,142,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jackson County Hospital Finance Authority, Michigan, Hospital Revenue Bonds, W.A. Foote</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,592,490</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: 1.35pt">Memorial Hospital, Refunding Series 2006B-2, 5.000%, 6/01/27 (Pre-refunded 6/01/20) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Methodist Hospital, Refunding Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,246,566</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/15/36 (Pre-refunded 5/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,059,312</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,580</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lansing Board of Water and Light, Michigan, Utility System Revenue Bonds, Series 2011A, 5.500%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,920,637</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water &amp;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sewerage Department Water Supply System Local Project, Series 2014D-6, 5.000%, 7/01/36 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,980</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,394,884</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/39 (Pre-refunded 12/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,939</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">77</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z7a6884fca04e4a84924822ec7acf5529" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zc00ca126fef8462eb0e96c19d2c904af" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Michigan </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2009-I, 5.000%, 10/15/23 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,609,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-I-A, 5.375%, 10/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,466,585</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,220</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009, 5.750%, 11/15/39 (Pre-refunded 11/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,404,764</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,525</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,532,122</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2012A, 5.000%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,175,320</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">55,600</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Michigan</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">61,224,977</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Minnesota &#8211; 1.2% (0.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">City of Ham Lake, Minnesota, Charter School Lease Revenue Bonds, DaVinci Academy Project, Series 2016A, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">701,351</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dakota County Community Development Agency, Minnesota, GNMA Collateralized Multifamily Housing Revenue Bonds, Rose Apartments Project, Series 2001, 6.350%, 10/20/37 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,933,667</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Duluth Housing &amp; Redevelopment Authority, Minnesota, Lease Revenue Bonds, Duluth Public Schools Academy, Series 2010A, 5.875%, 11/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,025,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Forest Lake, Minnesota, Charter School Lease Revenue Bonds, Lakes International Language Academy, Series 2014A, 5.750%, 8/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,593,465</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Hiawatha Academies Project, Series 2016A, 5.000%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">797,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Health Services, Series 2008B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,230</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 11/15/38 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,335,792</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">770</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 11/15/38 (Pre-refunded 11/15/18) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">789,427</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Saint Paul Housing &amp; Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Hmong College Prep Academy Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">791,018</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 9/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,258,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,265</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Refunding Series 2015A, 5.000%, 7/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,860,103</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/36</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,256,970</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">25,190</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Minnesota</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">26,343,323</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Mississippi &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">620</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">621,352</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,215</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mississippi State, General Obligation Bonds, Refunding Series 2002A, 5.500%, 12/01/18</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,327,383</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Warren County, Mississippi, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Series 2008A, 6.500%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,016,800</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,835</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Mississippi</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,965,535</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Missouri &#8211; 2.1% (1.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,538,614</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2016A, 6.000%, 3/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,351,293</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri, Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,032,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">78</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="ze82cf360b17343f5a8a00057530ce394" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Missouri </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">135</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kansas City Industrial Development Authority, Missouri, Sales Tax Revenue Bonds, Ward Parkway Center Community Improvement District, Senior Refunding &amp; Improvement Series 2016, 5.000%, 4/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">136,666</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,005</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1, 0.000%, 4/15/29 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,253,798</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Land Clearance for Redevelopment Authority of Kansas City, Missouri, Project Revenue Bonds, Convention Center Hotel Project &#8211; TIF Financing, Series 2018B., 5.000%, 2/01/40, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">667,108</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Liberty Public School District 53, Clay County, Missouri, Lease Participation Certificates, School Boards Association, Series 2014, 5.000%, 4/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,083,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Liberty, Missouri, Special Obligation Tax Increment and Special Districts Bonds, Liberty Commons Project, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/25, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,542,169</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,716,807</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,695</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,621,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Kansas City University of Medicine and Biosciences, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,749,795</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,960,658</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013, 5.250%, 5/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">724,797</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">505</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, University of Central Missouri, Series 2013C-2, 5.000%, 10/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">555,909</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">50</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">53,433</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,380,727</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Mercy Health, Series 2014F, 5.000%, 11/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,189,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Series 2011B, 5.000%, 11/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,717,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Saint Louis County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Ranken-Jordan Project, Refunding &amp; Improvement Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,275</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,307,959</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,105</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,129,332</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">430</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A, 5.875%, 9/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">487,065</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Saint Andrew&#8217;s Resources for Seniors, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">471,663</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">136,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">965</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Stoddard County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Southeasthealth, Series 2016B, 6.000%, 3/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,089,311</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">The Industrial Development Authority of the City of Saint Louis, Missouri, Development Financing Revenue Bonds, Ballpark Village Development Project, Series 2017A, 4.750%, 11/15/47</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">713,272</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">48,440</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Missouri</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">46,610,946</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Nebraska &#8211; 0.4% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">580</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">630,559</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna Rehabilitation Hospital Project, Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,115,956</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 5/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,199,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">79</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z44ec31a13ea04bb9aca1ae49a747e00d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued) </b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z71aee3db02774ee2b473eedfad79f1e3" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Nebraska </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">706,661</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,110</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,285,299</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/42</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">526,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,770</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Nebraska</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,463,645</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Nevada &#8211; 2.7% (1.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">29,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,784,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,302,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A, 8.000%, 6/15/30 (Pre-refunded 6/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,812,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C, 5.000%, 6/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,718,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015, 5.000%, 6/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,459,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,004,450</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">55,700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Nevada</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">59,081,940</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Hampshire &#8211; 0.1% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39 (Pre-refunded 10/01/19)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,587,315</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Jersey &#8211; 4.0% (2.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">662,041</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.125%, 7/01/42 &#8211; AGM Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,202,883</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,580</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB, 5.500%, 6/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,882,628</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2016AAA:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,063,260</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,602,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2017DDD, 5.000%, 6/15/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,137,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,050</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2011GG, 5.000%, 9/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,204,056</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">835</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/31 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">899,195</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/42 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,238,260</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,120</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 2013D, 5.000%, 7/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,238,798</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 6.000%, 7/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">639,702</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A, 5.000%, 7/01/46 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">442,912</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">80</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT-FAMILY: Arial; MARGIN: 0px">&#160;</p>

<table id="za94e27b17ec14b01b7e7e43a45894fb5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Jersey</b> (continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,963,418</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,612,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,715</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,116,932</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">610</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">276,861</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 12/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">822,368</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C, 0.000%, 12/15/34 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,938,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,175</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2008A, 0.000%, 12/15/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,270,561</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009A, 0.000%, 12/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,244,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009C, 5.250%, 6/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,384,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA, 5.000%, 6/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,612,306</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,595</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 5.000%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,677,493</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">120,315</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New Jersey</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">88,134,404</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Mexico &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Mexico Hospital Equipment Loan Council, First Mortgage Revenue Bonds, La Vida LLena Project, Series 2010A, 6.125%, 7/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,574,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,180</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Winrock Town Center Tax Increment Development District, Albuquerque, New Mexico, Gross Receipts Tax Increment Bonds, Senior Lien Series 2015, 5.750%, 5/01/30, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,217,871</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,680</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New Mexico</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,792,121</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York &#8211; 18.0% (11.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,755</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter Schools, Series 2007A, 5.000%, 4/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,584,765</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,132,472</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,020</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,661,052</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,220</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/15/30 (Pre-refunded 1/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,441,761</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,065</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 7/15/40 (Pre-refunded 1/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,288,868</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds,</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">494,114</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: 1.35pt">Catholic Health System, Inc. Project, Series 2015, 5.250%, 7/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Build New York City Resource Corporation, New York, Revenue Bonds, Metropolitan College of New York, Series 2014, 5.000%, 11/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">202,322</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,170</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2015A, 5.000%, 7/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,462,559</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,270</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics &amp; Technology, Series 2016A, 5.500%, 12/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,572,161</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,675</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2011C, 5.000%, 3/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,009,964</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2018A.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,505</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,510,898</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 3/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,467,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">69,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, 1st Subordinate Series 2005B, 0.000%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,453,528</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">81</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z3435a3d0b454462780926fd878459864" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z9ba2aabc7a9d40dfb5a5296b2906465d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York</b> (continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">81,270</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005C, 0.000%, 6/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,681,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,890</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,260,893</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">270</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 2/15/47 (Pre-refunded 2/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">293,733</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 2/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">865,472</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 2/15/47 (Pre-refunded 2/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,431,794</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,294,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/36 (Pre-refunded 5/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,304,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A, 5.000%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,532,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,070</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2009B, 5.000%, 11/15/34 (Pre-refunded 11/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,121,970</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">285</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/41 (Pre-refunded 11/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">314,047</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">465</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">512,393</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013A, 5.000%, 11/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,732,075</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,290</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball Stadium Project, Series 2006, 5.000%, 1/01/46 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,524,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2011 Series EE, 5.375%, 6/15/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,735,894</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series AA, 4.000%, 6/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,821,288</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,045</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series AA, 5.000%, 6/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,507,753</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,275</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series CC-1., 5.000%, 6/15/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,958,148</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,625</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2018, Series 2017S-3, 5.250%, 7/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,616,406</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2013 Series I, 5.000%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,048,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City, New York, General Obligation Bonds, Fiscal 2018 Series B-1, 5.000%, 10/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,717,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.625%, 8/01/20 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,033</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">67,290</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">70,809,267</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,012,139</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 11/15/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,218,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York State Power Authority, General Revenue Bonds, Series 2011A, 5.000%, 11/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,272,490</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2016A, 5.000%, 1/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,532,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/26 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,697,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,265</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/31 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,018,633</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">82</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z47c111f104834b048b1b76bd0cff17d6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York</b> (continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,745</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Delta Air Lines, Inc. &#8211; LaGuardia Airport Terminals C&amp;D Redevelopment Project, Series 2018, 5.000%, 1/01/36 (WI/DD, Settling 5/03/18) (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,032,511</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,680</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/41 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,475,019</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/46 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,371,378</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/50 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,153,484</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundredth Series 2017, 5.250%, 10/15/57</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,434,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,065</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 12/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,372,799</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,430</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,758,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">869,945</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges &amp; Tunnels, Series 2017C-2, 5.000%, 11/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,903,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/50</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,751,700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">511,380</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New York</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">395,250,235</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>North Carolina &#8211; 0.4% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/42 (Pre-refunded 6/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,619,665</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Refunding Series 2012A, 5.000%, 10/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,619,506</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,900</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.750%, 1/01/39 (Pre-refunded 1/01/19) &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,949,647</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,700</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total North Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,188,818</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>North Dakota &#8211; 0.5% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Series 2014A, 5.000%, 7/01/35 (Pre-refunded 7/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,084,780</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 11/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,696,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 11/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,486,986</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,190,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,875</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/32</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,983,713</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,565</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total North Dakota</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,442,929</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td>&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Ohio &#8211; 6.7% (4.2% of Total Investments)</b></td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and Improvement Series 2012A, 5.000%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">854,872</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">685</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 6/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">681,637</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">492,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,555</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,548,544</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,485</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,364,958</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,240</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,239,686</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">44,590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">45,214,260</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,942,067</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">83</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z614e8510bb634e50960964643e4f1775" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z614995f67cde4daba6bb9ae84a41e2d3" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Ohio</b> (continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/29 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,155,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 11/01/40 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,269,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,198,658</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Series 2011A, 5.000%, 11/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,210,524</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,615</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 (Pre-refunded 11/15/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,215,181</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2008C, 3.950%, 11/01/32 (Mandatory put 5/01/20) (Alternative Minimum Tax) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">462,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Revenue Bonds, AK Steel Holding Corporation, Refunding Series 2012A, 6.750%, 6/01/24 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,318</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.250%, 2/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,211,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Ohio, Environmental Improvement Bonds, United States Steel Corporation Project, Refunding Series 2011, 6.600%, 5/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">341,299</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2008C, 3.950%, 11/01/32 (Mandatory put 5/01/20) (Alternative Minimum Tax) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,387,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A, 4.375%, 6/01/33 (Mandatory put 6/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,816,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010B, 4.375%, 6/01/33 (Mandatory put 6/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,400,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">147,050</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Ohio</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">147,016,964</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Oklahoma &#8211; 0.7% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">2,000</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt">Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 8.500%, 8/25/26, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">2,341,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">3,500</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -8.65pt">Grand River Dam Authority, Oklahoma, Revenue Bonds, Series 2010A, 5.250%, 6/01/40 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">A1 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">3,729,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">1,675</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt">Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Series 2008B, 5.250%, 8/15/38 (Pre-refunded 8/15/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">1,691,985</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">4,150</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -8.65pt">Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B., 5.500%, 8/15/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">8/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">4,644,431</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">2,055</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt">Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2013A, 5.375%, 6/01/33 &#8211; BAM Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">Baa1</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">2,257,931</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">13,380</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -8.65pt">Total Oklahoma</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">14,665,867</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt"><b>Oregon &#8211; 0.1% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">1,270</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -8.65pt">Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Refunding Series 2014A, 5.000%, 5/01/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">1,328,420</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt"><b>Pennsylvania &#8211; 4.7% (2.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">120</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt">6.750%, 11/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">123,097</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">95</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -8.65pt">6.875%, 5/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">96,908</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">380</td>
<td style="FONT-FAMILY: Arial; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -8.65pt">Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">382,804</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">84</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z325f4ab0a4054b99a75883b29f28977a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Pennsylvania</b> (continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2009A, 5.625%, 8/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,211,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,355</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Refunding Project, Series 2017, 5.000%, 5/01/42, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,437,614</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A, 4.375%, 1/01/35 (Mandatory put 7/01/22) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,224,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">32,785</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory put 6/01/20) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,163,063</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018., 5.000%, 6/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,278,011</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 1/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">102,321</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 1/01/29 (Pre-refunded 1/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">925,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015, 5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,244,674</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Erie Water Authority, Erie County, Pennsylvania, Water Revenue Bonds, Series 2008:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">605</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/43 (Pre-refunded 12/01/18) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">615,872</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,160</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/43 (Pre-refunded 12/01/18) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,216,785</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">960</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/43 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">975,907</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,633,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,535</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,732,748</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,206</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Series 2013A0 &amp; AE2, 5.000%, 12/01/23 (Cash 5.000%, PIK 5.000%) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">661,717</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">338</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Taxable Series 2013B, 5.000%, 12/31/23 (Cash 5.000%, PIK 5.000%) (9)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">101,333</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,135</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,353,824</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,954,568</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 12/31/38 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,170,834</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 6.000%, 7/01/43 (Pre-refunded 7/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">649,758</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2010A1&amp;2:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">315</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/34 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">342,090</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/34 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,558,410</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,140</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2011B, 5.000%, 12/01/34 (Pre-refunded 12/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,647,729</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,660</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,203,077</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,170</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2016A-1, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,409,779</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,595</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010B, 5.000%, 5/15/40 (Pre-refunded 5/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,689,663</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,445</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 8/01/36 (Pre-refunded 8/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,924,868</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,425</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 8/01/41 (Pre-refunded 8/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,562,855</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">85</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf5b2d23f75b64451b0cd2f818200632d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zec2efa443a4346879da9d16177e9b286" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Pennsylvania </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">The Redevelopment Authority of the City of Scranton, Lackawanna county, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">705</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">726,615</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/15/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,270,612</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,670</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community Hospital Project, Refunding &amp; Improvement Series 2011, 5.250%, 8/01/19</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,728,701</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">118,794</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Pennsylvania</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">103,320,642</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Puerto Rico &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">215</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%, 7/01/29 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">C</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">221,667</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">30,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/54 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,918,600</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">30,215</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Puerto Rico</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,140,267</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Rhode Island &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">21,570</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">CCC+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,447,332</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>South Carolina &#8211; 2.4% (1.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Refunding Series 1991, 6.250%, 1/01/21 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,516,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,220</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/23 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,066,207</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,570</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/30 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,194,354</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/31 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,551,895</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding &amp; Improvement Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,353,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/55</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,311,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,418,288</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,155</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,003,028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">59,435</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total South Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">52,415,722</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>South Dakota &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,455</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2014B, 5.000%, 11/01/44</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,824,186</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Tennessee &#8211; 0.7% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,890</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,455,226</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,395</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger Health System, Refunding Series 2014A, 5.000%, 10/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,551,537</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,540</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A, 5.500%, 6/15/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,455,316</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">685</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Refunding and Improvement Bonds, Meharry Medical College, Series 1996, 6.000%, 12/01/19 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">705,269</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,510</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tennessee</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">15,167,348</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">86</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2820179b061b4c5bbe4b8723392cd06a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas &#8211; 16.4% (10.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">495</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Wayside Schools, Series 2016A, 4.375%, 8/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">483,095</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">165</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">178,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">137,904</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">760</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800,044</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">975</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phase 1 Project, Series 2015, 7.250%, 9/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">995,836</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phases 2-3 Major Improvements Project, Series 2015, 8.250%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">889,236</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Board of Managers, Joint Guadalupe County-Seguin City Hospital, Texas, Hospital Mortgage Revenue Bonds, Refunding &amp; Improvement Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,135</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,321,658</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,340</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,388,263</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brazos River Authority, Texas, Revenue Refunding Bonds, Houston Lighting and Power Company, Series 1998, 5.050%, 11/01/18 &#8211; AMBAC Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,101,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Area Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, The Roman Catholic Diocese of Austin, Series 2005B. Remarketed, 6.125%, 4/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,128,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,075</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 7.250%, 9/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,059,757</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,885</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Areas 2-5 Major Improvement Project, Series 2015, 8.250%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,863,831</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/01/41 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,567,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 1/01/46 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,981,313</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,185,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,625</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,945,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Club Municipal Management District 1, Texas, Special Assessment Revenue Bonds, Improvement Area 1 Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">550</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 9/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">525,327</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">520</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 9/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">488,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado River Municipal Water District, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 1/01/36 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,848,390</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2013C, 5.000%, 11/01/38 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,318,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding and Improvement Bonds, Series 2012C, 5.000%, 11/01/45 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,795,598</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT, 4.750%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,023,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,335</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.125%, 10/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,568,944</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.250%, 10/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,754,910</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,140</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Tender Option Bond Trust 2015-XF0228, 13.027%, 4/01/53, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,514,387</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1998, 8.000%, 4/01/28 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,099,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,832,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,895</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">4.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,908,909</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">87</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zca2a648a27a0418383f116fc3ca53239" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="ze9be3a57afa74377b3d1c0761e2bb7eb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding Senior Lien Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/41 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 62.66</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">105,026</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/42 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 59.73</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">199,709</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/43 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 56.93</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">321,770</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/44 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 54.25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">611,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/45 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 51.48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">752,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,180</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 11/15/53 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 33.96</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">786,467</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,170</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 0.000%, 11/15/37 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 69.08</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,390,073</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,565</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/35 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 52.47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,843,027</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">40,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harris County-Houston Sports Authority, Texas, Special Revenue Bonds, Refunding Senior Lien Series 2001A, 0.000%, 11/15/40 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/30 at 54.04</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,452,885</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,855</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2012A, 5.000%, 7/01/32 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,151,411</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">235</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">254,625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2011D, 5.000%, 11/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,830,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/28 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,519,128</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/30 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,131,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,765</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/31 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,431,501</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 2001B, 5.500%, 12/01/29 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,286,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 2002A, 5.750%, 12/01/32 &#8211; AGM Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,069,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">720</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015, 5.000%, 8/15/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">772,603</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding &amp; Improvement Series 2010, 5.000%, 5/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,389,680</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2015, 5.000%, 5/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,005,255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series 2011A, 7.250%, 4/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,891,873</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,505</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Matagorda County Navigation District 1, Texas, Collateralized Revenue Refunding Bonds, Houston Light and Power Company, Series 1997, 5.125%, 11/01/28 &#8211; AMBAC Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,818,175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,955</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Series 2016B, 5.750%, 10/01/31, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,029,622</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mission Economic Development Corporation, Texas, Water Supply Revenue Bonds, Enviro Water Minerals Project, Green Bonds, Series 2015, 7.750%, 1/01/45, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,174,356</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi II, L.L.C.-Texas A&amp;M University-Corpus Christi Project, Series 2016A, 5.000%, 4/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">152,345</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">565</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation &#8211; San Antonio 1, L.L.C. &#8211; Texas A&amp;M University &#8211; San Antonio Project, Series 2016A, 5.000%, 4/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">575,323</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/43 (Pre-refunded 9/01/31) (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,839,185</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,130</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 9/01/45 (Pre-refunded 9/01/31) (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,798,508</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">88</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zfaaa9c36542f44f39e3e775f8eabd299" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">205</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 1/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">210,545</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">895</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.250%, 1/01/39 (Pre-refunded 1/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">921,018</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Capital Appreciation Series 2008I:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,555</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.200%, 1/01/42 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,038,585</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 1/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,403,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008D, 0.000%, 1/01/28 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,379,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,870</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,103,675</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,880</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,317,541</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2017A, 5.000%, 1/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,378,963</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,855</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,717,086</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,205</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,434,430</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,101,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,345</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,565,477</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,570</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A, 5.000%, 2/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,653,917</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southwest Higher Education Authority Inc., Texas, Revenue Bonds, Southern Methodist University, Series 2010, 5.000%, 10/01/41 (Pre-refunded 10/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,747,905</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott &amp; White Healthcare Project, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">425</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/45 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">457,865</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,410</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 8/15/45 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,841,015</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,585</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas Health Resources System, Series 2016A., 5.000%, 2/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,547,310</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,980</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 6.250%, 12/15/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,306,324</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,733,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,835</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,273,051</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,235</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,404,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 12/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">470,496</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,620</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,742,456</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: 1.35pt">Partners LLC North Tarrant Express Managed Lanes Project, Senior Lien Series 2009, 6.875%, 12/31/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 6/30/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,200,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 6/30/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">549,025</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,340,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">
<div style="MARGIN-LEFT: 10pt">Mobility Partners Segments 3 Segments 3A &amp; 3B Facility, Series 2013, 7.000%, 12/31/38 (Alternative Minimum Tax)</div>
</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,355</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2012A, 5.000%, 8/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,764,658</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,385,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,875</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,034,581</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,590</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,959,128</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">89</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z56822938184b4989947f998dca0627bd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zc11262e79750422da9e0d1be65d90441" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/15/21 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">940,338</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/15/21 &#8211; AMBAC Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">278,826</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,600</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 8/15/25 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,906,208</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Travis County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Daughters of Charity National Health System, Series 1993B, 6.000%, 11/15/22 (ETM)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,500,976</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">394,135</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Texas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">359,901,057</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Utah &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,030</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Box Elder County, Utah, Solid Waste Disposal Revenue Bonds, Promontory Point Res, LLC, Senior Series 2017A , 8.000%, 12/01/39, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,937,107</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2009, 5.000%, 8/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,112,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah State Charter School Finance Authority, Charter School Revenue Bonds, North Davis Preparatory Academy, Series 2010, 6.375%, 7/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">857,847</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,555</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah State Charter School Finance Authority, Charter School Revenue Bonds, Paradigm High School, Series 2010A, 6.375%, 7/15/40</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,595,010</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,395</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utah</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,502,014</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Virginia &#8211; 1.3% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">540</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Embrey Mill Community Development Authority, Virginia, Special Assessment Revenue Bonds, Series 2015, 5.600%, 3/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">548,829</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Henrico County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours Health System Obligated Group, Series 2013, 5.000%, 11/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,979,028</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,390</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail &amp; Capital Improvement Project, Refunding Second Senior Lien Series 2014A, 5.000%, 10/01/53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,597,332</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,940,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,855</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds, Series 2007B2, 5.200%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,856,485</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,810</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,923,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,885</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 1/01/32 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,050,541</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,480</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/01/37 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,991,034</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,810</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/42 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,147,337</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">26,570</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Virginia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">28,034,236</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Washington &#8211; 2.1% (1.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,260</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Central Puget Sound Regional Transit Authority, Washington, Sales Tax and Motor Vehicle Excise Tax Bonds, Series 1999, 4.750%, 2/01/28 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,348,402</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Series 2015A, 5.000%, 7/01/38 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,723,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">King County, Washington, Sewer Revenue Bonds, Series 2009, 5.250%, 1/01/42 (Pre-refunded 1/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,557,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Catholic Health, Series 2011A, 5.000%, 2/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,367,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,065</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Refunding Series 2015, 4.000%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,995,253</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,640,957</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.500%, 12/01/39 (Pre-refunded 12/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,192,840</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,185</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children&#8217;s Hospital, Series 2012A, 5.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,367,163</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">90</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z959dfe7379ac47fe96b1800a05d18e34" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Washington </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 6.000%, 1/01/33 (Pre-refunded 7/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,185,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,410</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2003F, 0.000%, 12/01/24 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,180,339</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">43,550</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Washington</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">45,558,354</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>West Virginia &#8211; 0.5% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company Amos Project, Series 2010, 5.375%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,163,669</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2009A, 5.625%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,022,404</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,160</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding &amp; Improvement Series 2013A, 5.500%, 6/01/44</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,674,194</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,060</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total West Virginia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,860,267</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin &#8211; 1.8% (1.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monroe Redevelopment Authority, Wisconsin, Development Revenue Bonds, The Monroe Clinic, Inc., Series 2009, 5.875%, 2/15/39 (Pre-refunded 2/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211; (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">840,591</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Envision Science Academy Project, Series 2016A, 5.125%, 5/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">957,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, North Carolina Charter Educational Foundation Project, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,027,883</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,440</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000,973</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">78</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/56, 144A &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">86</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/57, 144A &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,568</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,055</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2014, 5.250%, 4/01/30 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,127,932</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2016, 4.000%, 8/01/35 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,163,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C, 4.300%, 11/01/30 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,021,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 37.76</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,402</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">70</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 35.85</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,098</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">69</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/49, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 34.04</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,063</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">65</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 32.32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,994</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">65</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/51, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 30.69</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,960</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">85</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/52, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 29.14</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,543</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">84</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/53, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 27.67</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,508</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">81</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/54, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 26.27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,423</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">79</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/55, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 24.94</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,371</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,707</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/56, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,688,738</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">84</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/58, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 21.35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">81</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/59, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 20.27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,431</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/60, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 19.25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,380</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">79</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/61, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 18.28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,345</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">76</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/62, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 17.35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,278</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/63, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 16.48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,226</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">73</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/64, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 15.65</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">72</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/65, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 16.86</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,140</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">78</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/66, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 14.11</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,306</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">935</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/67, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 13.39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">27,748</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">91</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z884e3d3f20d74a8c9beba19d5377bc66" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal Credit Income Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z8430d5b1dc874fb6b8ba31b221b255d2" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southeast Wisconsin Professional Baseball Park District, Sales Tax Revenue Refunding Bonds, Series 1998A, 5.500%, 12/15/19 &#8211; NPFG Insured (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,173,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System, Inc., Series 2010B, 5.000%, 4/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,447,698</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B, 5.000%, 2/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,336,938</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,105</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,245,488</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,633,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Refunding Series 2015, 5.000%, 8/15/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,340,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,415</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,550,599</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,310</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,430,939</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014B, 5.000%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,202,830</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,120</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014, 5.250%, 10/01/39</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,206,733</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">42,167</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Wisconsin</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">40,471,081</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,960,413</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Municipal Bonds (cost $3,323,305,327)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,537,594,795</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z25ac0bd874ea4139952f5269f4b53746" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt"><b>Description (1), (10)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>INVESTMENT COMPANIES &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,266</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">BlackRock MuniHoldings Fund Inc.</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">93,864</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">131,278</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Deutsche Municipal Income Trust</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,450,622</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,880</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dreyfus Strategic Municipal Fund</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">204,557</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">43,020</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Invesco VK Investment Grade Municipal Trust</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">524,414</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Invesco VK Municipal Opportunity Trust</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">348,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">43,420</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">PIMCO Municipal Income Fund II</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">549,697</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Investment Companies (cost $3,325,133)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,171,754</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">92</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zdd08717354c64d0ebd24181d3a4d27db" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 42%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Coupon</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Maturity</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>CORPORATE BONDS &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Transportation &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">577</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Monorail Company, Senior Interest Bonds (11), (12)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.500%</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/15/19</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">369,201</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">160</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Monorail Company, Senior Interest Bonds (11), (12)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.500%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/15/55</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">79,818</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">737</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Corporate Bonds (cost $44,880)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">449,019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Long-Term Investments (cost $3,326,675,340)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,541,215,568</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Floating Rate Obligations &#8211; (1.1)%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(24,620,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>MuniFund Preferred Shares, net of deferred offering costs &#8211; (13.9)% (13)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(304,389,774</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs &#8211; (15.3)% (14)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(335,980,501</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Variable Rate Demand Preferred Shares, net of deferred offering costs &#8211; (32.9)% (15)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(721,949,584</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Other Assets Less Liabilities &#8211; 2.0%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>43,341,246</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Net Assets Applicable to Common Shares &#8211; 100%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>$</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>2,197,616,955</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z70bd75e24fa847bd916fb75da05d161d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 7%">(1)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 93%">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(2)</td>
<td style="FONT-FAMILY: Arial">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Certain mortgage-backed securities may be subject to periodic principal paydowns.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(3)</td>
<td style="FONT-FAMILY: Arial">The ratings disclosed are the lowest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(4)</td>
<td style="FONT-FAMILY: Arial">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(5)</td>
<td style="FONT-FAMILY: Arial">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(6)</td>
<td style="FONT-FAMILY: Arial">The coupon for this security increased 0.25% effective January 1, 2016 and increased an additional 0.25% effective May 11, 2016.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(7)</td>
<td style="FONT-FAMILY: Arial">Step-up coupon bond, a bond with a coupon that increases (&#8220;steps up&#8221;), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(8)</td>
<td style="FONT-FAMILY: Arial">As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(9)</td>
<td style="FONT-FAMILY: Arial">On July 1, 2017, the Fund&#8217;s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security&#8217;s interest rate of accrual from 5.000% to 2.000%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(10)</td>
<td style="FONT-FAMILY: Arial">A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(11)</td>
<td style="FONT-FAMILY: Arial">Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 &#8211; Investment Valuation and Fair Value Measurements for more information.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(12)</td>
<td style="FONT-FAMILY: Arial">During January 2010, Las Vegas Monorail Company (&#8220;Las Vegas Monorail&#8221;) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund&#8217;s Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(13)</td>
<td style="FONT-FAMILY: Arial">MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 8.6%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(14)</td>
<td style="FONT-FAMILY: Arial">Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 9.5%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(15)</td>
<td style="FONT-FAMILY: Arial">Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 20.4%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">144A</td>
<td style="FONT-FAMILY: Arial">Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">ETM</td>
<td style="FONT-FAMILY: Arial">Escrowed to maturity.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">IF</td>
<td style="FONT-FAMILY: Arial">Inverse floating rate security issued by a tender option bond (&#8220;TOB&#8221;) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">PIK</td>
<td style="FONT-FAMILY: Arial">Payment-in-kind (&#8220;PIK&#8221;) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">UB</td>
<td style="FONT-FAMILY: Arial">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">WI/DD</td>
<td style="FONT-FAMILY: Arial">Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">93</div>

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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z3a9435f7c0d047f9b2467d7ab35c027b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 87%"><b>Nuveen Municipal High Income</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial"><b>Portfolio of Investments</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="ze0d9361586a1449a898dc1c1e5270363" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>LONG-TERM INVESTMENTS &#8211; 143.8% (100.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>MUNICIPAL BONDS &#8211; 142.6% (99.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Alabama &#8211; 0.7% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">182</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Adamsville Solid Waste Disposal Authority, Alabama, Solid Waste Disposal Revenue Bonds, Big Sky Environmental LLC Project, Refunding Taxable Series 2017C., 0.000%, 9/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Adamsville Solid Waste Disposal Authority, Alabama, Solid Waste Disposal Revenue Bonds, Big Sky Environmental LLC Project, Series 2017A., 6.750%, 9/01/37, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">992,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">212</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Adamsville Solid Waste Disposal Authority, Alabama, Solid Waste Disposal Revenue Bonds, Big Sky Environmental LLC Project, Taxable Series 2017B., 6.750%, 9/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">202,898</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alabama Industrial Development Authority, Solid Waste Disposal Revenue Bonds, Pine City Fiber Co. Project, Series 1993, 6.450%, 12/01/23 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">999,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alabama Private Colleges and University Facilities Authority, Limited Obligation Bonds, University of Mobile Project, Series 2015A, 6.000%, 9/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,986,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jefferson County, Alabama, Sewer Revenue Warrants, Senior Lien Series 2013C, 0.000%, 10/01/38 &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 105.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">865,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">950</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Selma Industrial Development Board, Alabama, Environmental Improvement Revenue Bonds, Zilkha Biomass Selma LLC Project, Series 2015, 7.500%, 5/01/25, 144A (Alternative Minimum Tax) (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">684,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,344</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Alabama</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,731,300</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arizona &#8211; 2.4% (1.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Industrial Development Authority, Arizona, Lease Revenue Bonds, Rowan University Project, Tender Option Bond Trust 2016-XF2337, 12.509%, 6/01/42, 144A &#8211; AGM Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,857,820</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">440</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Phoenix Industrial Development Authority, Arizona, Multifamily Housing Revenue Bonds, Deer Valley Veterans Assisted Living Project, Series 2016A, 5.125%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">429,554</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Charter School Revenue Bonds, Desert Heights Charter School, Series 2014, 7.250%, 5/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,076,230</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2014A, 6.875%, 7/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">93,175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">245</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">218,435</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 7/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">346,084</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">475</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">409,863</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2014A , 9.000%, 2/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,254,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">470</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Revenue Bonds Legacy Traditional School Project, Series 2009, 8.500%, 7/01/39 (Pre-refunded 7/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">504,371</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Carden Traditional Schools Project, Series 2012, 7.500%, 1/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,258,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise Education Center Project, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,315</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/40 (Pre-refunded 6/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,372,518</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.100%, 6/01/45 (Pre-refunded 6/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+ (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">522,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pinal County Industrial Development Authority, Arizona, Correctional Facilities Contract Revenue Bonds, Florence West Prison LLC, Series 2002A, 5.250%, 10/01/22 &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,150,713</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,665</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Quechan Indian Tribe of the Fort Yuma Reservation, Arizona, Tribal Economic Development Bonds, Series 2012A, 9.750%, 5/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,875,206</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007, 5.500%, 12/01/37, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,971,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">94</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z7de4ca42a3f54d12a442bb3687c1cfe8" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Arizona </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Yuma County Industrial Development Authority, Arizona, Exempt Revenue Bonds, Far West Water &amp; Sewer Inc. Refunding, Series 2007A, 6.375%, 12/01/37 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">941,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18,760</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Arizona</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,282,059</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California &#8211; 19.8% (13.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Enterprise Development Authority, Recovery Zone Facility Revenue Bonds, SunPower Corporation &#8211; Headquarters Project, Series 2010, 8.500%, 4/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,071,630</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,205</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 5.125%, 6/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,205,066</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2016B, 5.000%, 11/15/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,168,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Health Facilities Financing Authority, Refunding Revenue Bonds, Stanford Hospital and Clinics, Tender Option Bond Trust 2016-XF2353:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,875</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">15.198%, 11/15/40, 144A (Pre-refunded 11/15/21) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,785,894</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">14.192%, 11/15/40, 144A (Pre-refunded 11/15/21) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,814,737</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Health Facilities Financing Authority, Revenue Bonds, Children&#8217;s Hospital , Tender Option Bond Series 2017A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,165</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/42 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,718,326</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,115</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/15/47 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,355,913</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Series 2017A-2, 4.000%, 11/01/44 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,737,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Tender Option Bond Trust 2016-XG0049:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.092%, 8/15/51, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">338,655</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.089%, 8/15/51, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,354,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Affordable Housing Inc. Projects, Series 2014B, 5.875%, 8/15/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,104,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">980</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010B, 7.250%, 8/15/45 (Pre-refunded 8/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,083,223</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Revenue Bonds, California Baptist University, Series 2016A, 5.000%, 11/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">536,090</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,430</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2017B, 4.000%, 7/01/42 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,458,011</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series 2009, 8.500%, 11/01/39 (Pre-refunded 11/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,096,190</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">400</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Aemerge Redpak Services Southern California, LLC Project, Subordinate Series 2017, 8.000%, 12/01/27, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">399,692</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,950</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California School Finance Authority, Educational Facilities Revenue Bonds, Tri-Valley Learning Corporation, Series 2012A, 7.000%, 6/01/47 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,452,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,300</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California State, General Obligation Bonds, Tender Option Bond Trust 3162, 14.640%, 3/01/40, 144A &#8211; AGM Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,648,686</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">849,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 12/01/54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,077,610</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 5.250%, 12/01/56, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,390,684</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">520</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010, 6.250%, 10/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">547,804</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">95</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z22948d5422fe47b0b20e39825389c226" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z5766c75aed9d41698e7167e2782bff69" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, Revenue Bonds, Lancer Educational Student Housing Project, Refunding Series 2016A, 5.000%, 6/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">524,355</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2012-01, Fancher Creek, Series 2013A, 5.700%, 9/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,059,980</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,605</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2011A, 8.000%, 9/02/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,680,772</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, California Baptist University, Series 2011A, 7.500%, 11/01/41 (Pre-refunded 11/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">590,955</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.500%, 7/01/39 (7)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500,015</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007C, 5.750%, 7/01/47 (Pre-refunded 7/01/18) &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,258,412</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">515</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 2015-XF2186, 12.861%, 11/15/38, 144A (Pre-refunded 5/15/18) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 99.03</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">517,477</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,845</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Daly City Housing Development Finance Agency, California, Mobile Home Park Revenue Bonds, Franciscan Mobile Home Park Project, Refunding Third Tier Series 2007C, 6.500%, 12/15/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,847,509</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Daly City Housing Development Finance Agency, California, Mobile Home Park Revenue Bonds, Franciscan Mobile Home Park, Refunding Series 2007A, 5.000%, 12/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,003,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fontana, California, Special Tax Bonds, Community Facilities District 31 Citrus Heights North, Series 2006, 5.000%, 9/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,002,530</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,586,135</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,635</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,693,255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,655,511</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,690</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.125%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,689,926</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/40 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,222,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 6/01/45 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,213,060</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">860</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Tender Option Bond Trust 2015-XF1038, 12.268%, 6/01/45, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,226,455</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grossmont Healthcare District, California, General Obligation Bonds, Tender Option Bond Trust 3253, 17.777%, 7/15/40, 144A (Pre-refunded 7/15/21) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,277,885</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Hercules Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/25 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,016,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 8/01/35 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,011,730</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment Project Areas Housing Programs, Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">190</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 8/01/39 (Pre-refunded 8/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">201,734</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">145</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 8/01/39 (Pre-refunded 8/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">153,955</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">390</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lee Lake Public Financing Authority, California, Junior Lien Revenue Bonds, Series 2013B, 5.250%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">419,667</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">850</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Los Angeles County, California, Community Development Commission Headquarters Office Building, Lease Revenue Bonds, Community Development Properties Los Angeles County Inc., Tender Option Bond Trust 2016-XL0022, 13.615%, 9/01/42, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,144,193</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,825</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Tender Option Bond Trust 2016-XL0005, 13.121%, 5/15/40, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,277,837</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">96</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z27df4a6e0cf94ed8829398d7f710ff70" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>California </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lynwood Redevelopment Agency, California, Project A Revenue Bonds, Subordinate Lien Series 2011A, 7.000%, 9/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,152,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">March Joint Powers Redevelopment Agency, California, Tax Allocation Revenue Bonds, March Air Force Base Redevelopment Project, Series 2011A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 8/01/26 (Pre-refunded 8/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,153,330</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.500%, 8/01/41 (Pre-refunded 8/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,753,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">470</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2005-3, Series 2007, 5.000%, 9/01/37 (Pre-refunded 9/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">471,913</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 7.000%, 8/01/32 (Pre-refunded 8/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">578,435</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">330</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">371,161</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">385</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 11/01/21 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">406,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 11/01/41 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,096,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28 (Pre-refunded 9/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,015,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">733</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">River Rock Entertainment Authority, California, Revenue Bonds, Senior Notes Series 2011B, 8.000%, 11/01/18 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">267,545</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.750%, 10/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,376,892</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Sacramento City Financing Authority California, Lease Revenue Bonds, Master Lease Program Facilities Projects, Tender Option Bond Trust 2016-XG0100:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.414%, 12/01/30, 144A &#8211; AMBAC Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,332,127</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.414%, 12/01/33, 144A &#8211; AMBAC Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,869,828</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">960</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">8.000%, 12/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,119,638</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">8.000%, 12/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,141,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,095</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">San Francisco City and County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Mission Bay South Redevelopment Project, Subordinate Series 2016D, 0.000%, 8/01/31, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 61.78</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,128,786</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Santa Margarita Water District, California, Special Tax Bonds, Community Facilities District 2013-1 Village of Sendero, Series 2013, 5.625%, 9/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,087,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Santee Community Development Commission, California, Santee Redevelopment Project Tax Allocation Bonds, Series 2011A, 7.000%, 8/01/41 (Pre-refunded 2/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,133,830</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,065</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017, 6.250%, 9/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,075,373</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,890</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 5.500%, 6/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,889,962</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Twentynine Palms Redevelopment Agency, California, Tax Allocation Bonds, Four Corners Project Area, Series 2011A, 7.650%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">759,941</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">University of California, General Revenue Bonds, Tender Option Bond Trust 2016-XL0001, 13.050%, 5/15/39, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,790,550</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">154,623</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total California</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">166,944,855</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado &#8211; 7.8% (5.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Aurora Single Tree Metropolitan District, City of Aurora, Adams County, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2006., 5.000%, 11/15/20</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2013, 7.000%, 12/01/23 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,016,820</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cherry Creek Corporate Center Metropolitan District, Arapahoe County, Colorado, Revenue Bonds, Refunding Subordinate Lien Series 2016B, 8.000%, 6/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">472,145</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">97</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb333f47a2e3f42bf8402022062faa55c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z2b30cf4264de4f6e9b226eaa641046cc" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy Project, Series 2008, 6.250%, 7/01/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">752,257</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Jefferson County School District R-1 &#8211; Compass Montessori Secondary School, Series 2006, 5.625%, 2/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">988,290</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,255</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Mountain Phoenix Community School, Series 2012, 7.000%, 10/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,362,473</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">560</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Skyview Academy Project, Series 2014, 5.375%, 7/01/44, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">572,768</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Pikes Peak School of Expeditionary Learning Charter School, Series 2008, 6.625%, 6/01/38 (Pre-refunded 6/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,791,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2016A, 5.000%, 11/15/41 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,554,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, American Baptist Homes of the Midwest Obligated Group, Series 2013, 8.000%, 8/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,862,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, American Baptist Homes Project, Series 2016, 6.125%, 2/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,002,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Colorado Senior Residences Project, Series 2012, 6.750%, 6/01/32 (4), (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">495,362</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Health Facilities Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Tender Option Bond Trust 2015-XF0054, 13.872%, 1/01/30, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">897,592</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,285</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Health Facilities Authority, Revenue Bonds, Craig Hospital Project, Series 2012, 5.000%, 12/01/32 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,387,903</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">518</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Colorado Housing and Finance Authority, Revenue Bonds, Confluence Energy LLC Project, Series 2007, 5.000%, 6/01/18 (Alternative Minimum Tax) (8)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">576,495</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Colorado Housing and Finance Authority, Revenue Bonds, Confluence Energy LLC Project, Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,045</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 4/01/27 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,477,892</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,224</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 10/01/27 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,972,732</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Compark Business Campus Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Series 2012A, 6.750%, 12/01/39 &#8211; RAAI Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,080,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Confluence Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2007:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.400%, 12/01/27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.450%, 12/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,040,595</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/27 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,473,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">708</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Erie Highlands Metropolitan District No. 1 (In the Town of Erie), Weld County, Colorado, General Obligation Limited Tax Bonds, Series 2015B, 7.750%, 12/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">704,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">923</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fitzsimons Village Metropolitan District 1, Aurora, Arapahoe County, Colorado, Tax Increment Public Improvement Fee Supported Revenue Bonds, Series 2010A, 7.500%, 3/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">957,133</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fitzsimons Village Metropolitan District 3, Arapahoe County, Colorado, Tax Increment/Public Improvement Fee Supported Revenue Bonds, Series 2014A, 6.000%, 3/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">986,980</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 12/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,029,150</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,103,447</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,989</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Great Western Metropolitan District 5, Colorado, General Obligation Limited Tax Revenue Bonds, Series 2009A-1, 0.000%, 8/01/39 (9), (10)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,963,183</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Heritage Todd Creek Metropolitan District, Colorado, General Obligation Bonds Limited Tax, Refunding &amp; Improvement Series 2015, 6.125%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,033,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">933</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Heritage Todd Creek Metropolitan District, Colorado, General Obligation Bonds Limited Tax, Series 2007A, 5.500%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">923,036</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">98</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb38447ca58cb4637b244c099796b4628" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Colorado </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iliff Commons Metropolitan District 2, Aurora, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Series 2015, 6.250%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,011,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">305</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iliff Commons Metropolitan District 2, Aurora, Arapahoe County, Colorado, General Obligation Bonds, Subordinated Limited Tax Convertible to Unlimited Tax Series 2016B, 8.000%, 12/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">308,468</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Revenue Bonds, Refunding Series 2015, 5.500%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,960,960</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">675</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.250%, 12/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">646,393</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,265</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,200,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kit Carson County Health Service District, Colorado, Health Care Facility Revenue Bonds, Series 2007, 6.750%, 1/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,044,013</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lewis Pointe Metropolitan District, Thornton, Colorado, Limited Tax Convertible to Unlimited Tax General Obligation Bonds, Series 2015A, 6.000%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,256,137</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Leyden Rock Metropolitan District No. 10, In the City of Arvada, Colorado, Limited Tax General Obligation Bonds, Refunding and Improvement Series 20016A, 5.000%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">507,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Leyden Rock Metropolitan District No. 10, In the City of Arvada, Colorado, Limited Tax General Obligation Bonds, Refunding and Improvement Series 20016B, 7.250%, 12/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">489,255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Midcities Metropolitan District No. 2, In the City and County of Broomfield, Colorado, Subordinate Special Revenue Refunding Bonds, Series 2016B, 7.750%, 12/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">494,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Murphy Creek Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding &amp; Improvement Series 2006, 6.125%, 12/01/35 (11)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,640,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pinon Pines Metropolitan District No. 1, El Paso County, Colorado, General Obligation Limited Tax Bonds, Series 2016, 5.375%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">908,690</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Promenade at Castle Rock Metropolitan District 1, Colorado, General Obligation Bonds, Limited Tax Series 2015A, 5.750%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,133,428</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 1/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,090,570</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,064,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">STC Metropolitan District 2, Superior, Boulder County, Colorado, Limited Tax General Obligation Bonds, Series 2015A, 6.000%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,027,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">875</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">STC Metropolitan District 2, Superior, Boulder County, Colorado, Limited Tax General Obligation Bonds, Series 2015B, 7.750%, 12/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">885,106</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Stone Ridge Metropolitan District 2, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited, Series 2007, 7.250%, 12/01/31 (12)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">480,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Three Springs Metropolitan District 3, Durango, La Plata County, Colorado, Property Tax Supported Revenue Bonds, Series 2010, 7.750%, 12/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,868,833</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">965</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">VDW Metropolitan District 2, Larimer County, Colorado, General Obligation Bonds, Refunding Limited Tax Series 2016B, 7.250%, 12/15/45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">922,646</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">69,890</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Colorado</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">65,619,182</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Connecticut &#8211; 1.0% (0.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016, 5.000%, 12/01/45 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,451,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39 (Pre-refunded 4/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,766,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,869</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mashantucket Western Pequot Tribe, Connecticut, Special Revenue Bonds, Subordinate Series 2013A, 6.050%, 7/01/31 (Cash 4.000%, PIK 2.050%) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">183,413</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41 (Pre-refunded 4/01/21)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,135,340</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13,369</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Connecticut</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,536,913</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">99</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z0a52ed51fe1e4ded88913c5065cb5edf" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z4b5d8acb0fa6490fbdeaa0f8253d2c49" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Delaware &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Delaware Economic Development Authority, Revenue Bonds, Odyssey Charter School Inc. Project, Series 2015A, 7.000%, 9/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,475,625</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>District of Columbia &#8211; 0.6% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">195</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">219,689</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia, Revenue Bonds, Cesar Chavez Public Charter Schools for Public Policy, Series 2011, 7.500%, 11/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,032,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">District of Columbia, Revenue Bonds, Howard University, Tender Option Bond Trust 2016-XG0094:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">17.613%, 10/01/37, 144A (Pre-refunded 4/01/21) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">36,259</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,472</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">17.613%, 10/01/37, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,201,191</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">District of Columbia, Revenue Bonds, KIPP DC Issue, Series 2013A, 6.000%, 7/01/33 (Pre-refunded 7/01/23)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB+ (6)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">294,120</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,945</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total District of Columbia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,783,429</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida &#8211; 15.1% (10.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Alachua County Health Facilities Authority, Florida, Health Faculties Revenue Bonds, Terraces at Bonita Springs Project, Series 2011A, 8.125%, 11/15/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,675,380</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ave Maria Stewardship Community District, Florida, Capital Improvement Revenue Bonds, Series 2006A, 5.125%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">766,907</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,840</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ave Maria Stewardship Community District, Florida, Capital Improvement Revenue Bonds, Series 2012, 6.700%, 5/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,883,866</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,735</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ave Maria Stewardship Community District, Florida, Capital Improvement Revenue Bonds, Series 2015, 5.375%, 5/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,664,680</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">995</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Babcock Ranch Community Independent Special District, Florida, Special Assessment Bonds, Series 2015, 5.250%, 11/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,003,587</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">905</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Belmont Community Development District, Florida, Capital Improvement Revenue Bonds, Phase 1 Project, Series 2013A, 6.125%, 11/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,031,293</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,850</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Boggy Creek Improvement District, Orlando, Florida, Special Assessment Revenue Bonds, Refunding Series 2013, 5.125%, 5/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,863,357</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brevard County, Florida, Industrial Development Revenue Bonds, TUFF Florida Tech Project, Series 2009, 6.500%, 11/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,789,613</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Broward County, Florida, Airport Facility Revenue Bonds, Learjet Inc., Series 2000, 7.500%, 11/01/20 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">700,259</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Projects Finance Authority, Student Housing Revenue Bonds, Capital Projects Loan Program &#8211; Florida Universities, Series 2001F, 5.000%, 10/01/31 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,436,062</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Trust Agency, Florida, Revenue Bonds, Tuscan Gardens Palm Coast Senior Living Community Project, Series 2017A, 7.000%, 10/01/49, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">971,520</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Capital Trust Agency, Florida, Senior Living Facilities Revenue Bonds, Elim Senior Housing, Inc. Project, Series 2017, 5.875%, 8/01/52, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/24 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,019,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celebration Pointe Community Development District 1, Alachua County, Florida, Special Assessment Revenue Bonds, Series 2014, 5.125%, 5/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,005,890</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Collier County Industrial Development Authority, Florida, Continuing Care Community Revenue Bonds, Arlington of Naples Project, Series 2014A, 7.750%, 5/15/35, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,204,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">940</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Copperstone Community Development District, Manatee County, Florida, Capital Improvement Revenue Bonds, Series 2007, 5.200%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">939,991</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">970</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cordoba Ranch Community Development District, Hillsborough County, Florida, Special Assessment Revenue Bonds, Series 2006, 5.550%, 5/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">939,047</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fishhawk Community Development District IV, Hillsborough County, Florida, Special Assessment Revenue Bonds, Series 2013A, 7.000%, 5/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">837,608</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,850</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Elementary School Project, Series 2014A, 6.500%, 7/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,878,823</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">100</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="MARGIN: 0px"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="za37f520cd0644d96900a65d9677caea1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Elementary School Project, Series 2017A, 5.750%, 7/01/44, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">992,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">565</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Florida Charter Foundation Inc. Projects, Series 2016A, 5.000%, 7/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">535,230</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2010A, 6.000%, 9/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,037,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2011A, 7.625%, 6/15/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,186,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2013A, 8.500%, 6/15/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/23 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,582,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Florida, Development Finance Corporation, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project &#8211; South Segment, Series 2017., 0.000%, 1/01/47, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 105.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,720,849</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, Doral Breeze Project Series 2012, 5.500%, 11/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,688,075</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Improvement Bonds, Assessment Area Two Project, Refunding Series 2014A-2, 6.500%, 5/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,048,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Harmony Community Development District, Florida, Capital Improvement Revenue Bonds, Special Assessment, Refunding Series 2014, 5.250%, 5/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/24 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,014,740</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jacksonville Economic Development Commission, Florida, Industrial Development Revenue Bonds, Gerdau Ameristeel US Inc. Project, Series 2007, 5.300%, 5/01/37 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lakes by the Bay South Community Development District, Florida, Special Assessment Bonds, Series 2012, 5.750%, 11/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,038,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">665</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lakewood Ranch Stewardship District, Florida, Special Assessment Revenue Bonds, Lakewood Centre North Project, Series 2015, 4.875%, 5/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/25 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">665,978</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2007A, 5.375%, 6/15/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,999,960</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">630</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lee County Industrial Development Authority, Florida, Healthcare Facilities Revenue Bonds, Preserve Project, Series 2017A., 5.750%, 12/01/52, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 105.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">637,365</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,190</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami Beach, Florida, Resort Tax Revenue Bonds, Series 2015, 5.000%, 9/01/45 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,437,281</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami Dade County Industrial Development Authority, Florida, Educational Facilities Revenue Bonds, South Florida Autism Charter School Project, Series 2017, 6.000%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">729,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,085</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami World Center Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, Series 2017, 5.250%, 11/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,142,342</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County Industrial Development Authority, Florida, Revenue Bonds, Youth Co-Op Charter Schools Project, Series 2015A, 6.000%, 9/15/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">758,385</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Series 2008, Tender Option Bond Trust 2016-XG0010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">486</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">13.371%, 10/01/38, 144A &#8211; AGC Insured (Pre-refunded 10/01/18) (Alternative Minimum Tax) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">512,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">84</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">13.371%, 10/01/38, 144A &#8211; AGC Insured (Alternative Minimum Tax) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">88,591</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">430</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">13.371%, 10/01/38, 144A &#8211; AGC Insured (Pre-refunded 10/01/18)(Alternative Minimum Tax) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">453,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,430</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, General Obligation Bonds, Series 2015D, 5.000%, 7/01/45 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,912,029</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Tender Option Bond Trust 2016-XG0030, 12.735%, 10/01/39, 144A &#8211; AGM Insured (Pre-refunded 10/01/20) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+ (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,604,125</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">930</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Northern Palm Beach County Improvement District, Florida, Water Control and Improvement Bonds, Development Unit 53, Series 2015, 5.500%, 8/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">968,046</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">101</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zbcfd64deeff245dc844f687acd319f98" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z8acd1b91ecf2412f993a13d9d0e277e4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Florida </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of Boca Raton Project, Series 2014A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 6/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">708,759</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.500%, 6/01/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,600,789</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,680</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pine Island Community Development District, Florida, Special Assessment Bonds, Bella Collina, Series 2004, 5.750%, 5/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,628,995</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Reunion West Community Development District, Florida, Special Assessment Bonds, Series 2004A-1, 6.250%, 5/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,831,923</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rolling Oaks Community Development District, Florida, Special Assessment Bonds, Series 2016, 6.000%, 11/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,636,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">990</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Shingle Creek Community Development District, Florida, Special Assessment Revenue Bonds, Series 2015, 5.400%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">994,237</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">890</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sweetwater Creek Community Development District, Saint John&#8217;s County, Florida, Capital Improvement Revenue Bonds, Series 2007A, 5.500%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">890,027</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,515</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (10)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,380,221</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (10)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,222,991</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.375%, 5/01/18 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.650%, 5/01/40 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,845</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007A-2, 5.250%, 5/01/39 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007-1. RMKT, 6.650%, 5/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">116,366</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007A-1. RMKT, 5.250%, 5/01/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">526,554</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,740</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,978,686</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,507,121</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,505</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,660</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, 5.400%, 5/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,663,697</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,475</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Twin Creeks North Community Development District, Florida, Special Assessment Bonds, Master Infrastructure Improvements, Series 2016A-2, 6.375%, 11/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/31 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,644,545</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Venetian Parc Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, Area One Project, Series 2013, 6.500%, 11/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,299,540</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Waterset North Community Development District, Hillsborough County, Florida, Special Assessment Revenue Bonds, Series 2014, 5.500%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,054,630</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Windsor at Westside Community Development District, Osceola County, Florida, Special Assessment Bonds, Area 1 Project, Series 2015, 5.125%, 11/01/45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">979,070</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">129,310</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Florida</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">127,032,268</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Georgia &#8211; 1.0% (0.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta Urban Residential Finance Authority, Georgia, Multifamily Housing Revenue Bonds, Trestletree Village Apartments, Series 2013A, 5.000%, 11/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,009,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31 (Pre-refunded 1/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">828,736</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,402,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">102</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zeea0ca4d39914fb5bd30b8b0d4c55d4e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Georgia </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Douglas County Development Authority, Georgia, Charter School Revenue Bonds, Brighten Academy Project, Series 2013A, 7.125%, 10/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,975,523</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fulton County Development Authority, Georgia, Revenue Bonds, Amana Academy Project, Series 2013A, 6.500%, 4/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">952,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2014:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">392</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/15/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">394,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">767</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/15/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">771,359</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">842</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/15/36</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">847,053</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,931</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Georgia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8,181,306</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Guam &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,445</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam Government, General Obligation Bonds, 2009 Series A, 7.000%, 11/15/39 (Pre-refunded 11/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,628,619</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">330</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">375,454</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,775</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Guam</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,004,073</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Hawaii &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,655</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Series 2009, 6.500%, 7/01/39</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,736,658</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Idaho &#8211; 0.1% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Idaho Health Facilities Authority, Revenue Bonds, Saint Luke&#8217;s Health System Project, Tender Option Bond Trust 2016-XG0066, 11.427%, 3/01/47, 144A &#8211; AGM Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">605,115</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois &#8211; 19.5% (13.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">730</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Bolingbrook, Illinois, Sales Tax Revenue Bonds, Series 2005, 6.250%, 1/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">722,912</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,670</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Capital Improvement Revenues, Series 2017, 6.000%, 4/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,426,069</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2010F, 5.000%, 12/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,002,370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,385</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,671,826</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,025</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,290,538</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,910</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,676,656</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Metropolitan Water Reclamation District, Illinois, General Obligation Bonds, Series 2015A, 5.000%, 12/01/44 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,266,040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,002,950</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,595</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, Certificates of Participation Tax Increment Bonds, 35th and State Redevelopment Project, Series 2012, 6.100%, 1/15/29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,593,327</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,567</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, Certificates of Participation, Tax Increment Allocation Revenue Bonds, Diversey-Narragansett Project, Series 2006, 7.460%, 2/15/26 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,864,279</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2014A, 5.250%, 1/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,081,240</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project &amp; Refunding Series 2017A, 6.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,408,808</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2005D, 5.500%, 1/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,052,260</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Refunding Series 2008A, 5.250%, 1/01/37 &#8211; FGIC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,882,256</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">130</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, 5.000%, 1/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">132,729</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">103</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z46736c5915da40069a3ad41404f32ba2" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z55329c68e6c64239887cac3d56173290" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Illinois </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Chicago, Illinois, General Obligation Bonds, Variable Rate Demand Series 2007F, 5.500%, 1/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,566,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">City of Chicago, Illinois, Chicago O&#8217;Hare International Airport, Senior Special Facilities Revenue Bonds, TRIPs Obligated Group, Series 2018., 5.000%, 7/01/48 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,444,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,250,560</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority Revenue Bonds, Ness Healthcare NFP, Series 2016A, 6.375%, 11/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,662,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,062,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Lake Forest College, Series 2012A, 6.000%, 10/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,068,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Healthcare, Series 2017A, 4.000%, 7/15/47 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,084,350</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, Presence Health Network, Series 2016C, 4.000%, 2/15/41 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,108,285</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.750%, 8/15/34 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26,828</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.750%, 8/15/34 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,085,277</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 8/15/38 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,124,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 8/15/44 (Pre-refunded 8/15/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,095,091</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Tender Option Bond Trust 2015-XF0121:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: 1.35pt">16.619%, 8/15/41, 144A &#8211; AGM Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">355,715</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,685</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: 1.35pt">16.609%, 8/15/41, 144A &#8211; AGM Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,396,980</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2016B, 4.000%, 8/15/41 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,954,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, November Series 2016:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,022,930</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 11/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020,820</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">630</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, Series 2012A, 5.000%, 3/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">635,853</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,945</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, General Obligation Bonds, Series 2017D, 5.000%, 11/01/27 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,372,734</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,445</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Illinois State, Sales Tax Revenue Bonds, Series 2016C, 4.000%, 6/15/31 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,600,836</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lombard Public Facilities Corporation, Illinois, Conference Center and Hotel Revenue Bonds, First Tier Series 2005A-2., 5.500%, 1/01/36 &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,842,840</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,431</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lombard Public Facilities Corporation, Illinois, Third Tier Conference Center and Hotel Revenue Bonds, Series 2005C-3, 12.000%, 1/01/36, 144A (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 12/15/33 &#8211; NPFG Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,810,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 6.000%, 6/01/28 (Pre-refunded 6/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">892,328</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">930</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rantoul, Champaign County, Illinois, Tax Increment Revenue Bonds, Evans Road Series 2013B, 7.000%, 12/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">954,896</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sales Tax Securitization Corporation, Illinois, Sales Tax Securitization Bonds, Series 2018A, 5.000%, 1/01/31 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,031,641</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, Inc., Series 2013, 7.125%, 11/01/43 (Pre-refunded 11/01/23)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,240,820</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Springfield, Sangamon County, Illinois, Special Service Area, Legacy Pointe, Special Assessment Bonds, Series 2009, 7.875%, 3/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">758,902</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">895</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Yorkville United City Business District, Illinois, Storm Water and Water Improvement Project Revenue Bonds, Series 2007, 6.000%, 1/01/26 (13)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">474,350</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">160,148</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Illinois</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">164,020,950</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">104</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
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</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="za5acc8c0397540c299cebf03fbf2ec10" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Indiana &#8211; 2.3% (1.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Carmel Redevelopment District, Indiana, Tax Increment Revenue Bonds, Series 2004A, 6.650%, 1/15/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,415,489</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Bond Bank, Special Program Bonds, Hendricks Regional Health Project, Tender Option Bond Trust 2016-XL0019, 13.721%, 4/01/30, 144A &#8211; AMBAC Insured (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,862,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Bond Bank, Special Program Gas Revenue Bonds, JP Morgan Ventures Energy Corporation Guaranteed, Tender Option Bond Trust 2015-XF0115, 12.702%, 10/15/20, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,608,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Educational Facilities Revenue Bonds, Discovery Charter School Project, Series 2015A, 7.250%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,008,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2011, 6.000%, 12/01/19</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,035,580</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,014,760</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Indiana Finance Authority, Hospital Revenue Bonds, King&#8217;s Daughters&#8217; Hospital and Health Services, Series 2010, 5.500%, 8/15/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">520,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group Revenue Bonds, Tender Option Bond Trust 2015-XF0106:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,290</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">12.767%, 12/01/37, 144A (Pre-refunded 12/01/20) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,669,273</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.767%, 12/01/38, 144A (Pre-refunded 12/01/19) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,509,512</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Shoals, Indiana, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Series 2013, 7.250%, 11/01/43 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,124,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">970</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">St. Joseph County, Indiana, Economic Development Revenue Bonds, Chicago Trail Village Apartments, Series 2005A, 7.500%, 7/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">965,228</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,375</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Terre Haute, Indiana, Economic Development Solid Waste Facility Revenue Bonds, Pyrolyx USA Indiana, LLC Project, Series 2017A, 7.250%, 12/01/28 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,364,880</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">17,095</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Indiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19,099,267</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Iowa &#8211; 0.8% (0.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,030</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Alcoa Inc. Project, Series 2012, 4.750%, 8/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,056,605</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.250%, 12/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,131,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.375%, 6/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,002,450</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,900</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.625%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,915,022</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,930</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Iowa</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,105,157</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kansas &#8211; 0.7% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,305</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">University of Kansas Hospital Authority, Health Facilities Revenue Bonds, KU Health System, Refunding &amp; Improvement, Series 2015, 5.000%, 9/01/45 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,822,556</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kentucky &#8211; 6.4% (4.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">565</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A, 5.000%, 6/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">599,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,665</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Series 2017A, 5.000%, 6/01/45 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,373,987</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A, 6.000%, 6/01/30 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">539,910</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">105</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z24f3c9255fc448a4912c46d004b1c403" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zea3dc4a7a6cc44ddad68d399b0462e30" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Kentucky </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Series 2015A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/37 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,655,710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,295</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 7/01/40 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,817,844</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">16,800</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.000%, 1/01/45 (UB)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">17,702,160</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">50,825</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Kentucky</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">53,688,861</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Louisiana &#8211; 1.9% (1.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.000%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,453,257</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 12/15/37 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,900,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,115</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 12/15/37 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">780,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007B, 9.000%, 12/15/18 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">70,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Series 2010A-1, 6.500%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">550,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Womans Hospital Foundation Project, Tender Option Bonds Trust 2016-XF2336:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">15.895%, 10/01/40, 144A (Pre-refunded 10/01/20) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020,330</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">15.886%, 10/01/40, 144A (Pre-refunded 10/01/20) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020,165</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.500%, 7/01/36, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,108,640</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,865</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Lake Charles Charter Academy Foundation Project, Series 2011A, 7.750%, 12/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,007,822</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Revenue Bonds, Southwest Louisiana Charter Academy Foundation Project, Series 2013A, 8.125%, 12/15/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,261,561</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Louisiana Public Facilities Authority, Solid Waste Disposal Facility Revenue Bonds, Louisiana Pellets Inc. Project, Series 2015, 7.000%, 7/01/24, 144A (Alternative Minimum Tax) (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19,470</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Louisiana</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">16,173,105</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maine &#8211; 0.4% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,155</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Portland Housing Development Corporation, Maine, Section 8 Assisted Senior Living Revenue Bonds, Avesta Housing Development Corporation, Series 2004A, 6.000%, 2/01/34</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Baa2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,159,228</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Maryland &#8211; 0.8% (0.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Economic Development Corporation, Port Facilities Revenue Bonds, CNX Marine Terminals Inc. Port of Baltimore Facility, Refunding Series 2010, 5.750%, 9/01/25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,131,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference Center, Series 2006A, 5.000%, 12/01/31 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,400,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference Center, Series 2006B, 5.250%, 12/01/31 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Maryland</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,031,850</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Massachusetts &#8211; 1.8% (1.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,735</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2017B, 4.250%, 7/01/46 (Alternative Minimum Tax) (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,770,156</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A, 5.000%, 1/01/27 &#8211; AMBAC Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">486,010</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2016E,</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,985</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2016E, 4.000%, 4/01/33 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,126,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">106</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="ze76dfbe711f24364af48184684004d74" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Massachusetts </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2016A, 5.000%, 3/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,517,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Massachusetts</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">14,899,506</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Michigan &#8211; 1.3% (0.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Detroit Local Development Finance Authority, Michigan, Tax Increment Bonds, Series 1998A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">485</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/01/21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">479,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 5/01/21 &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,880</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">88</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit, Michigan, General Obligation Bonds, Series 2003A, 5.250%, 4/01/22 &#8211; SYNCORA GTY Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">84,894</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">116</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Detroit, Michigan, General Obligation Bonds, Series 2004A-1, 5.250%, 4/01/19 &#8211; AMBAC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">115,702</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">930</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Hope Academy Project, Series 2011, 8.125%, 4/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">782,883</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Voyageur Academy Project, Refunding Series 2017. Private Placement of 2017, 5.900%, 7/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,018,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Public Educational Facilities Authority, Charter School Revenue Bonds, American Montessori Academy, Series 2007, 6.500%, 12/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,618,105</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, Chandler Park Academy Project, Series 2008, 6.500%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,001,180</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, Richfield Public School Academy, Series 2007, 5.000%, 9/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">981,110</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">825</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, David Ellis Academy-West Charter School Project, Series 2007, 5.875%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">793,411</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">905</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Thermal LLC Project, Series 2013, 8.500%, 12/01/30, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">956,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,021,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Summit Academy, Michigan, Revenue Bonds, Public School Academy Series 2005, 6.375%, 11/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500,310</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">University of Michigan, General Revenue Bonds, Series 2015, 5.000%, 4/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">AAA</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,361,592</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,929</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Michigan</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,724,522</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Minnesota &#8211; 0.8% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">665</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brooklyn Park, Minnesota, Charter School Lease Revenue Bonds, Athlos Leadership Academy Project, Series 2015A, 5.500%, 7/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">662,021</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Columbus, Minnesota, Charter School Lease Revenue Bonds, New Millennium Academy Project, Series 2015A, 6.000%, 7/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">829,480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">505</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Greenwood, Minnesota, Charter School Lease Revenue Bonds, Main Street School of Performing Arts Project, Series 2016A, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">463,696</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Paul Housing &amp; Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Community School of Excellence, Series 2016A, 5.750%, 7/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,841,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Paul Port Authority, Minnesota, Solid Waste Disposal Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012-7, 4.500%, 10/01/37, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,811,360</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,170</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Minnesota</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,607,897</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Mississippi &#8211; 0.2% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">647</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mississippi Home Corporation, Multifamily Housing Revenue Bonds, Tupelo Personal Care Apartments, Series 2004-2, 6.125%, 9/01/34 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">592,528</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Warren County, Mississippi, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Series 2008A, 6.500%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,016,800</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,647</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Mississippi</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,609,328</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">107</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="za63ff7fd14b445f1ac5b4c771670fec6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z9db78cabe420422f841aa59ad18d90d1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Missouri &#8211; 2.3% (1.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri, Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,032,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Joplin Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Joplin Recovery TIF Redevelopment Project, Series 2013B, 5.875%, 4/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,101,960</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">655</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kansas City Industrial Development Authority, Missouri, Sales Tax Revenue Bonds, Ward Parkway Center Community Improvement District, Senior Refunding &amp; Improvement Series 2016, 5.000%, 4/01/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">663,083</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Liberty, Missouri, Special Obligation Tax Increment and Special Districts Bonds, Liberty Commons Project, Subordinate Lien Series 2015B, 8.500%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,978,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Mercy Health, Series 2017C, 4.000%, 11/15/49 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,086,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Louis Industrial Development Authority, Missouri, Confluence Academy Project, Series 2007A, 5.350%, 6/15/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,022,571</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Louis Land Clearance for Redevelopment Authority, Missouri, Tax-Exempt Recovery Zone Facilities Improvement, Special Revenue Bonds, Kiel Opera House Project, Series 2010B, 7.000%, 9/01/35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,035,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,353</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Fashion Square Redevelopment Project, Series 2008A, 6.300%, 8/22/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,338,239</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">732</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Grace Lofts Redevelopment Projects, Series 2007A, 6.000%, 3/27/26</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">387,960</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19,840</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Missouri</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19,646,963</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Nevada &#8211; 0.5% (0.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Clark County, Nevada, General Obligation Bank Bonds, Southern Nevada Water Authority Loan, Tender Option Bond Trust 2016-XG0031, 12.935%, 6/01/33, 144A (Pre-refunded 6/01/18) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,526,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Sparks Tourism Improvement District 1, Legends at Sparks Marina, Nevada, Senior Sales Tax Revenue Bonds Series 2008A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">435</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 6/15/20, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">436,370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 6/15/28, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,504,515</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,435</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Nevada</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,467,485</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Jersey &#8211; 7.0% (4.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Lease Revenue Bonds, Series 2018A, 5.000%, 6/15/47 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,652,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Lease Revenue Bonds, Series 2018C, 5.000%, 6/15/47 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,305,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2017DDD, 5.000%, 6/15/42 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,092,610</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 5.250%, 9/15/29 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/22 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,281,041</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000A &amp; 2000B, 5.625%, 11/15/30 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/24 at 101.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,210,280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A, 5.875%, 6/01/42 (Pre-refunded 6/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,079,420</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 7.500%, 12/01/32 (Pre-refunded 6/01/19)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">635,154</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,225,896</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,230</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph&#8217;s Healthcare System Obligated Group Issue, Refunding Series 2016, 5.000%, 7/01/41</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,698,122</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">108</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf4d04079436e4d8d8502c0d805833ccc" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Jersey </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph&#8217;s Healthcare System Obligated Group Issue, Series 2008:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">355</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 7/01/18 (ETM)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">357,410</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.625%, 7/01/38 (Pre-refunded 7/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3 (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,015,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">480</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2008A, 6.125%, 6/01/30 &#8211; AGC Insured (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">481,133</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">40,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/36 &#8211; AMBAC Insured (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,538,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,200</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B., 5.000%, 6/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,313,784</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">80,245</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New Jersey</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">58,887,340</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New Mexico &#8211; 0.7% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">375</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mariposa East Public Improvement District, New Mexico, Revenue Bonds, Capital Appreciation Taxable Series 2015D, 0.000%, 9/01/32 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/18 at 50.09</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">56,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">60</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mariposa East Public Improvement District, New Mexico, Special Levy Revenue Bonds, Series 2015A, 5.900%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">59,768</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">280</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mariposa East Public Improvement District, New Mexico, Special Levy Revenue Bonds, Series 2015B, 5.900%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">277,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">435</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mariposa East Public Improvement District, New Mexico, Special Levy Revenue Bonds, Series 2015C, 5.900%, 9/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">414,716</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,210</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mesa Del Sol Public Improvement District 1, Albuquerque, New Mexico, Special Levy Revenue Bonds, Series 2013, 7.250%, 10/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,251,321</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">965</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Mexico Hospital Equipment Loan Council, First Mortgage Revenue Bonds, La Vida LLena Project, Series 2010A, 5.875%, 7/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,021,202</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Volterra Public Improvement District, Albuquerque, New Mexico, Special Levy Revenue Bonds, Series 2014, 6.750%, 10/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,044,919</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,575</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Winrock Town Center Tax Increment Development District, Albuquerque, New Mexico, Gross Receipts Tax Increment Bonds, Senior Lien Series 2015, 6.000%, 5/01/40, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/20 at 103.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,593,932</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,920</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New Mexico</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,719,983</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York &#8211; 11.4% (7.9% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,830</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Refunding Series 2016A, 5.000%, 7/15/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,182,475</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 6.375%, 7/15/43 (Pre-refunded 1/15/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+ (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,075,120</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Build NYC Resource Corporation, New York, Revenue Bonds, Albert Einstein College of Medicine, Inc., Series 2015, 5.500%, 9/01/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,322,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017, 5.000%, 12/01/36, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">215,096</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B, 4.000%, 7/01/41 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,058,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1, 5.000%, 11/15/56 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,997,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 10/01/37 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">465,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 10/01/46 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/37 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,550,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special Needs Facilities Pooled Program, Series 2008A-1, 5.800%, 7/01/23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">639,535</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">109</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb1c9e92e44c34717a13bdbb84c9b5d1f" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z291d1d8fc89b432c81b1c50e83aa8f02" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>New York </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Series 2016S-1, 5.000%, 7/15/43 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18,962,990</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,075</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York City, New York, General Obligation Bonds, Series 2016A-1, 5.000%, 8/01/38 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,002,320</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, Liberty Revenue Bonds, Secured by Port Authority Consolidated Bonds, Tender Option Bonds Trust 2016-XG0062, 12.960%, 12/15/41, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">662,575</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,156,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 2 Series 2014, 5.150%, 11/15/34, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,542,078</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 3 Series 2014, 7.250%, 11/15/44, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,130,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,375</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Liberty Development Corporation, New York, Liberty Revenue Bonds, Bank of America Tower at One Bryant Park Project, Second Priority Refunding Series 2010, 6.375%, 7/15/49</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,454,929</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">New York Liberty Development Corporation, Second Priority Liberty Revenue Refunding Bonds, Bank of America Tower at One Bryant Park Project, Tender Option Bond Trust 2016-XG0018:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">625</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.625%, 1/15/44, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">738,763</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">13.625%, 1/15/44, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">295,505</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,900</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016, 5.000%, 8/01/26 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,006,989</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/46 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,071,590</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,985</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal Project, Series 2016A, 5.000%, 7/01/46 &#8211; AGM Insured (Alternative Minimum Tax) (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,370,341</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,265</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Series 2017, 5.000%, 4/15/57 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,649,225</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">530</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">579,963</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,975</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Series 2016, 5.000%, 11/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,536,194</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">91,910</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total New York</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">95,667,308</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>North Carolina &#8211; 0.4% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">940</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Tender Option Bond Trust 2016-XF2222, 13.981%, 1/15/42, 144A (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,222,207</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Series 2008A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">970</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">973,434</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 6/01/31 (Pre-refunded 6/01/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,104</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.125%, 6/01/35 (Pre-refunded 6/01/18)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB+ (6)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,003,560</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,940</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total North Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,229,305</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>North Dakota &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Williston, North Dakota, Multifamily Housing Revenue Bonds, Eagle Crest Apartments LLC Project, Series 2013, 7.750%, 9/01/38 (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">800,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Ohio &#8211; 6.6% (4.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Second Subordinate Capital Appreciation Turbo Term Series 2007C, 0.000%, 6/01/52</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,164,185</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">110</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z503dfe34ba5d4064bd0c97ca760af635" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Ohio </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,996,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.750%, 6/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,834,713</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,005</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.500%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,033,070</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.875%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,500,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,455</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Caa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,576,865</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Butler County Port Authority, Ohio, Public Infrastructure Revenue Bonds, Liberty Center Project, Liberty Community Authority, Series 2014C, 6.000%, 12/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,463,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Medina County Port Authority, Ohio, Development Revenue Bond, Fiber Network Project, Series 2010B, 6.000%, 12/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,347,648</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,295,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/18 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,920,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2008C, 3.950%, 11/01/32 (Mandatory put 5/01/20) (Alternative Minimum Tax) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,196,875</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System Obligated Group, Tender Option Bond Trust 2015-XF0105, 12.867%, 1/01/39, 144A (Pre-refunded 1/01/19) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,372,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory put 7/01/21) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,387,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">255</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2008B, 3.625%, 10/01/33 (Mandatory put 4/01/20) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">117,938</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010B, 4.375%, 6/01/33 (Mandatory put 6/01/22) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,880,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">State of Ohio, Solid Waste Disposal Revenue Bonds (USG Corporation Project) Series 1997 Remarketed, 5.600%, 8/01/32 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,004,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding &amp; Improvement Series 2015, 6.000%, 3/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,023,220</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc., Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax) (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">60</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">96,160</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Ohio</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">55,113,949</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Oklahoma &#8211; 0.3% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 8.500%, 8/25/26, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,341,640</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Pennsylvania &#8211; 2.0% (1.4% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 11/01/24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">512,905</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.875%, 5/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,040,160</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A, 3.500%, 4/01/41 (Mandatory put 6/01/20) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,156,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,720</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory put 6/01/20) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">795,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">111</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z47a414816ae94725981960789e2a2a82" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z854dfb765d5f46b8bbd00bba096edeee" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Pennsylvania </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">185</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Tender Option Bond Trust 2017-XF2454, 14.383%, 8/01/38, 144A (Pre-refunded 8/01/20) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">239,251</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor., Series 2006A, 2.550%, 11/01/41 (Mandatory put 12/03/18) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">D</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,313</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,323,993</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,115</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, USG Corporation Project, Series 1999, 6.000%, 6/01/31 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,123,065</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Nueva Esperanza, Inc. &#8211; Esperanza Academy Charter School, Series 2013, 8.000%, 1/01/33</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,775,425</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">510</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Ba1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">554,717</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">180</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">The Redevelopment Authority of the City of Scranton, Lackawanna county, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2016A, 5.000%, 11/15/28</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BB+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">182,239</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18,465</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Pennsylvania</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">16,705,818</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Rhode Island &#8211; 0.4% (0.3% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rhode Island Health &amp; Educational Building Corporation, Health Facilities Revenue Bonds, Tockwotton Home, Series 2011, 8.375%, 1/01/46 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Aaa</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,160,850</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18,260</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">CCC+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,071,780</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19,260</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Rhode Island</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,232,630</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>South Carolina &#8211; 2.3% (1.6% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County, South Carolina, Special Assessment Bonds, Edgewater II Improvement District, Series 2007A, 7.750%, 11/01/39 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">840,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,477</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lancaster County, South Carolina, Special Assessment Bonds, Edgewater II Improvement District, Series 2007B, 7.700%, 11/01/18 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">730,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, Midland Valley Preparatory School Project, Series 2014, 7.750%, 11/15/45, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,091,750</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2011A, 6.500%, 8/01/39 (Pre-refunded 8/01/21) &#8211; AGM Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,414,563</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority Santee Cooper Revenue Obligations, Series 2014A, 5.000%, 12/01/49 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,311,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,250</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Federally Taxable Build America Series 2016B, 5.000%, 12/01/46 (UB)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A+</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10,070,105</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23,977</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total South Carolina</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">19,458,288</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Tennessee &#8211; 5.3% (3.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds, Mountain States Health Alliance, Refunding Series 2010A, 6.500%, 7/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,220,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,835</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,248,182</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11,095</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University, Series 2016A, 5.000%, 7/01/40 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">The Health and Educational Facilities Board of the City of Franklin, Tennessee, Revenue Bonds, Provision Cares Proton Therapy Center, Nashville Project, Series 2017A, 7.500%, 6/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,303,300</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">112</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zed804b30c5fd43bfb4800f276daa4d86" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Tennessee </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,024</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006B, 5.625%, 9/01/26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,871,697</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">950</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wilson County Health and Educational Facilities Board, Tennessee, Senior Living Revenue Bonds, Rutland Place Inc. Project, Series 2015A, 5.500%, 1/01/46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">880,156</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">40,904</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Tennessee</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">44,733,028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas &#8211; 5.5% (3.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,005</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 2001D, 8.250%, 5/01/33 (Alternative Minimum Tax) (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celina, Texas, Special Assessment Revenue Bonds, Creeks of Legacy Public Improvement District Phase 1 Project, Series 2014, 7.000%, 9/01/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/22 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,001,570</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 1/01/41 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,115,680</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/01/41 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+ (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">274,440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Tejano Center for Community Concerns, Inc.-Raul Yzaguirre School for Success, Refunding Series 2009A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">8.750%, 2/15/28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,104,872</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">9.000%, 2/15/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,004,340</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,165</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Series 2016A, 5.000%, 12/01/48 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,636,353</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2013A:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">430</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.625%, 9/01/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">490,987</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.375%, 9/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/23 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,115,470</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT, 4.750%, 5/01/38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,534,725</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1998, 8.000%, 4/01/28 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,009,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">865</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Heart of Texas Education Finance Corporation, Texas, Gateway Charter Academy, Series 2006A, 6.000%, 2/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">849,153</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,635</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Jefferson County Industrial Development Corporation, Texas, Hurricane Ike Disaster Area Revenue Bonds, Port of Beaumont Petroleum Transload Terminal, LLC Project, Series 2012, 8.250%, 7/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,727,765</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Series 2016B, 5.750%, 10/01/31, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/18 at 103.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,038,170</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Mission Economic Development Corporation, Texas, Water Supply Revenue Bonds, Enviro Water Minerals Project, Green Bonds, Series 2015, 7.750%, 1/01/45, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/26 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,689,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi I, L.L.C.-Texas A&amp;M University-Corpus Christi Project, Series 2014A, 5.000%, 4/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/24 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,021,550</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation &#8211; San Antonio 1, L.L.C. &#8211; Texas A&amp;M University &#8211; San Antonio Project, Series 2016A, 5.000%, 4/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,018,270</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,445</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, NCCD &#8211; College Station Properties LLC &#8211; Texas A&amp;M University Project, Series 2015A, 5.000%, 7/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">CCC</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,020,108</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,250</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">North Texas Tollway Authority, Special Projects System Revenue Bonds, Tender Option Bond Trust 2016-XG0036, 14.771%, 9/01/41, 144A (Pre-refunded 9/01/21) (IF)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,216,825</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Red River Health Facilities Development Corporation, Texas, First Mortgage Revenue Bonds, Eden Home Inc., Series 2012, 7.000%, 12/15/32 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,160,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">175</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Rowlett, Texas, Special Assessment Revenue Bonds, Bayside Public Improvement District North Improvement Area, Series 2016, 5.750%, 9/15/36</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/24 at 102.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">168,460</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Sabine River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Energy Company LLC Project, Series 2003B, 6.150%, 8/01/22 (4)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott &amp; White Healthcare Project, Series 2016A, 5.000%, 11/15/45 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,417,080</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">113</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z45ba88479b7248749a3ddec70891e223" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z52c85988d8ff4258a09c3374c94ecf09" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Texas </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,810</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Senior Lien Series 2009, 6.875%, 12/31/39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,022,408</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 6/30/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,100,050</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 6/30/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,941,225</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">835</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Texas Public Finance Authority Charter School Finance Corporation, Charter School Revenue Bonds, School of Excellence Education Project, Series 2004A, 7.000%, 12/01/34</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">836,495</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Travis County Health Facilities Development Corporation, Texas, Revenue Bonds, Westminster Manor, Series 2010:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">85</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 11/01/30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">91,285</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">440</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 11/01/30 (Pre-refunded 11/01/20)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">491,731</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">340</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Trinity River Authority of Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 20003, 6.250%, 5/01/28 (Alternative Minimum Tax) (4)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">C</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">50,830</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Texas</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">46,098,015</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Utah &#8211; 1.1% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,690</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah State Charter School Finance Authority, Charter School Revenue Bonds, North Davis Preparatory Academy, Series 2010, 6.375%, 7/15/40</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/20 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,789,828</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,980</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah State Charter School Finance Authority, Charter School Revenue Bonds, Summit Academy High School, Series 2011A, 8.125%, 5/15/31</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,148,181</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,550</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Utah State Charter School Finance Authority, Revenue Bonds, Summit Academy Project, Series 2007A, 5.800%, 6/15/38</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,560,157</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,220</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Utah</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,498,166</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Vermont &#8211; 0.8% (0.5% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,605</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, University of Vermont Medical Center Project, Green Series 2016B, 5.000%, 12/01/46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,757,748</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, University of Vermont Medical Center Project, Series 2016B, 5.000%, 12/01/46 (UB) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,723,578</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,155</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, Vermont Law School Project, Series 2011A, 6.250%, 1/01/41 (Pre-refunded 1/01/21)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1/21 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,275,339</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,160</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Vermont</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,756,665</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Virgin Islands &#8211; 0.1% (0.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2014C, 5.000%, 10/01/19</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">822,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Virginia &#8211; 1.6% (1.1% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">762</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Celebrate Virginia North Community Development Authority, Special Assessment Revenue Bonds, Series 2003B, 6.250%, 3/01/19 (14)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">457,200</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,400</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien Revenue Bonds, Series 2009B, 0.000%, 10/01/38 &#8211; AGC Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB+</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,866,032</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">B&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">990,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,380</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, 5.000%, 12/31/56 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Baa3</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,935,124</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.000%, 1/01/37 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">89,126</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">130</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 1/01/42 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">141,510</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18,752</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Virginia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">13,478,992</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">114</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd6adb4a4ba19449daa38283434f3dca1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Washington &#8211; 2.5% (1.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,415</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Tender Option Bond Trust 2016-XL0006, 14.632%, 6/01/34, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,742,836</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Tender Option Bond Trust 2016-XL0007, 14.632%, 6/01/39, 144A (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/19 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">565,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kalispel Indian Tribe, Washington, Priority Distribution Bonds, Series 2008, 6.750%, 1/01/38 (Pre-refunded 6/04/18)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,635,964</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">King County Public Hospital District 4, Washington, Hospital Revenue Bonds, Snoqualmie Valley Hospital, Series 2015A, 6.250%, 12/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/25 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,002,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Kitsap County Consolidated Housing Authority, Washington, Pooled Tax Credit Housing Revenue Bonds, Series 2007, 5.600%, 6/01/37 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/18 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000,680</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">275</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Tacoma Consolidated Local Improvement District 65, Washington, Special Assessment Bonds, Series 2013, 5.750%, 4/01/43</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/19 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">275,847</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,215</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Economic Development Finance Authority, Environmental Facilities Revenue Bonds, Columbia Pulp I, LLC Project, Series 2017A, 7.500%, 1/01/32, 144A (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1/28 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,786,884</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,330</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017, 4.000%, 8/15/42 (UB)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/27 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,262,124</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Washington State Housing Finance Commission, Non-Profit Housing Revenue Bonds, Mirabella Project, Series 2012A, 6.750%, 10/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">10/22 at 100.00</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,087,030</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,335</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Washington</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">21,360,205</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>West Virginia &#8211; 0.2% (0.2% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,422</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Berkeley, Hardy and Jefferson Counties, West Virginia, as Joint Issuers, Commercial Development Revenue Bonds, Scattered Site Housing Projects, Series 2010, 5.750%, 12/01/44</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/23 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,444,397</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Monongalia County Commission, West Virginia, Special District Excise Tax Revenue, University Town Centre Economic Opportunity Development District, Refunding &amp; Improvement Series 2017A, 5.750%, 6/01/43, 144A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6/27 at 100.00</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">518,945</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,922</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total West Virginia</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,963,342</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin &#8211; 5.3% (3.7% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Green Bay Redevelopment Authority, Wisconsin, Industrial Development Revenue Bonds, Fort James Project, Series 1999, 5.600%, 5/01/19 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">30,791</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Lac Courte Oreilles Band of Lake Superior Chippewa Indians, Wisconsin, General Revenue Bonds, Refunding Series 2017, 6.750%, 6/01/32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,959,020</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, North Carolina Charter Educational Foundation Project, Series 2016A, 5.000%, 6/15/46, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/26 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,505,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,650</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Thomas Jefferson Classical Academy of Mooresboro, North Carolina, Series 2011, 7.125%, 7/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/19 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BBB&#8211;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,680,773</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/56, 144A &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">366</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/57, 144A &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B.:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/46, 144A &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">726</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/61, 144A &#8211; ACA Insured</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">678</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,700</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Contract Revenue Bonds, Mercer Crossing Public Improvement District Project, Series 2017, 7.000%, 3/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/27 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,591,336</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">830</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Educational Facility Revenue Bonds, Cottonwood Classical Preparatory School in Albuquerque, New Mexico, Series 2012A, 6.250%, 12/01/42</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/22 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">836,831</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">335</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2016, 4.000%, 8/01/35 (Alternative Minimum Tax)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8/26 at 100.00</td>
<td>&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">324,816</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">115</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb01bbd38d46b46f088c48e76ddc88a70" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z567defed82dd4a13bec21cd865137385" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 50%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Limited Obligation Grant Revenue Bonds, American Dream @ Meadowlands Project, Series 2017A, 6.750%, 8/01/31, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">No Opt. Call</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,075,350</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">6.750%, 12/01/42, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,299,920</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">7.000%, 12/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,202,620</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Gulf Coast Zoo, Series 2018A., 6.500%, 9/01/48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,499,580</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">500</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Proton Therapy Center, Senior Series 2017A., 7.000%, 10/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10/27 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">505,100</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,060</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Public Finance Authority of Wisconsin, Revenue Bonds, Roseman University of Health Sciences, Series 2015, 5.875%, 4/01/45</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/25 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">BB</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,137,921</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B:</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 37.76</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">379</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/47, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 47.50</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">715</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 35.85</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">331</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/48, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 45.66</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/49, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 34.04</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">326</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/49, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 43.89</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">704</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 32.32</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">315</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/50, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 42.18</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">693</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/51, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 30.69</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">309</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/51, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 40.54</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">759</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">659</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 7/01/51, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">654,143</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/52, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 29.14</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">401</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/52, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 38.97</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">753</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/53, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 27.67</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">396</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/53, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 37.46</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">742</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/54, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 26.27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">382</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/54, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 36.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">737</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/55, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 24.94</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">374</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/55, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 34.60</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">726</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/56, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 33.26</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">716</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">585</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">5.500%, 7/01/56, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">582,293</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/57, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 31.97</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">710</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/58, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 21.35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">395</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/58, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 30.73</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">699</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/59, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 20.27</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">384</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/59, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 29.53</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">694</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/60, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 19.25</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">376</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/60, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 28.39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">688</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/61, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 18.28</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">370</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/62, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 17.35</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">360</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/62, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 26.23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">673</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/63, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 16.48</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">351</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/63, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 25.21</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">662</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/64, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 15.65</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">343</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/64, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 24.23</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">656</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/65, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 14.86</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">338</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/65, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 23.29</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">651</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/66, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 14.11</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">364</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/66, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 22.38</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">641</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">148</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/67, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 13.39</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,380</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">281</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">0.000%, 1/01/67, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3/28 at 21.51</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,338</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Community Health, Inc. Obligated Group, Tender Option Bond Trust 2015-XF0118, 13.662%, 4/01/39, 144A (Pre-refunded 4/01/19) (IF) (5)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4/19 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">AA&#8211; (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,125,570</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">116</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z9235bc450dc9445c9d61b52d0a358b75" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 50%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%"><b>Optional Call</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Provisions (2)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Wisconsin </b>(continued)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Public Finance Authority, Revenue Bonds, SearStone Retirement Community of Cary North Carolina, Series 2012A, 8.625%, 6/01/47 (Pre-refunded 6/01/22)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 100.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R (6)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,455,600</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Wisconsin Public Finance Authority, Revenue Bonds, SearStone Retirement Community of Cary North Carolina, Series 2016, 6.000%, 6/01/49, 144A</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6/22 at 104.00</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,033,530</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">43,014</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Wisconsin</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">44,535,510</td>
<td style="BORDER-TOP: black 1pt solid; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,277,265</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Municipal Bonds (cost $1,179,469,619)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,199,392,142</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z49668866856649be8ece8ba69ecea7ca" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 70%"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 11%"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>COMMON STOCKS &#8211; 1.2% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Airlines &#8211; 1.2% (0.8% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">227,514</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">American Airlines Group Inc., (15)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,767,176</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Total Common Stocks (cost $6,316,916)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,767,176</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z668652751da94db4b82ea6723c10c6c5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Principal</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 43%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount (000)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Description (1)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Coupon</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Maturity</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Ratings (3)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>CORPORATE BONDS &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Transportation &#8211; 0.0% (0.0% of Total Investments)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Monorail Company, Senior Interest Bonds (8), (16)</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.500%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7/15/19</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,657</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Las Vegas Monorail Company, Senior Interest Bonds (8), (16)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5.500%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7/15/55</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">N/R</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,601</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">33</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Total Corporate Bonds (cost $2,021)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,258</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Total Long-Term Investments (cost $1,185,788,556)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>1,209,179,576</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Floating Rate Obligations &#8211; (35.9)%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(302,258,000</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Adjustable Rate MuniFund Term Preferred Shares, net of deferred offering costs &#8211; (10.3)% (17)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>(86,867,364</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Other Assets Less Liabilities &#8211; 2.4%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>20,768,754</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Net Assets Applicable to Common Shares &#8211; 100%</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>$</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>840,822,966</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">117</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z7bef1e8d39804fd3b52bf9d1caddb6dc" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 13%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 87%"><b>Nuveen Municipal High Income Opportunity Fund</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>Portfolio of Investments (continued)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial"><b>April 30, 2018 (Unaudited)</b></td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z2944c133605b417b93227fc1e2095648" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left; WIDTH: 7%">(1)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 93%">All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(2)</td>
<td style="FONT-FAMILY: Arial">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(3)</td>
<td style="FONT-FAMILY: Arial">The ratings disclosed are the lowest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(4)</td>
<td style="FONT-FAMILY: Arial">As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(5)</td>
<td style="FONT-FAMILY: Arial">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(6)</td>
<td style="FONT-FAMILY: Arial">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(7)</td>
<td style="FONT-FAMILY: Arial">The coupon for this security increased 0.25% effective January 1, 2016 and increased an additional 0.25% effective May 11, 2016.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(8)</td>
<td style="FONT-FAMILY: Arial">Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 &#8211; Investment Valuation and Fair Value Measurements for more information.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(9)</td>
<td style="FONT-FAMILY: Arial">On December 1, 2016, the Fund&#8217;s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security&#8217;s interest rate of accrual from 9.000% to 6.750%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(10)</td>
<td style="FONT-FAMILY: Arial">Step-up coupon bond, a bond with a coupon that increases (&#8220;steps up&#8221;), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(11)</td>
<td style="FONT-FAMILY: Arial">On July 28, 2015, the Fund&#8217;s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security&#8217;s interest rate of accrual from 6.125% to 3.675%. On December 9, 2015, the Fund&#8217;s Adviser determined it was likely that this borrower would fulfill a greater portion of its obligation on this security, and therefore increased the security&#8217;s interest rate of accrual from 3.675% to 4.900%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(12)</td>
<td style="FONT-FAMILY: Arial">On June 1, 2013, the Fund&#8217;s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on the security, and therefore reduced the security&#8217;s interest rate of accrual from 7.250% to 1.813%. On May 7, 2015, the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(13)</td>
<td style="FONT-FAMILY: Arial">On July 1, 2014, the Fund&#8217;s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security&#8217;s interest rate of accrual from 6.000% to 4.200%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(14)</td>
<td style="FONT-FAMILY: Arial">On September 1, 2013, the Fund&#8217;s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security&#8217;s interest rate of accrual from 6.250% to 4.688%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(15)</td>
<td style="FONT-FAMILY: Arial">On November 28, 2011, AMR Corp. (&#8220;AMR&#8221;), the parent company of American Airlines Group, Inc. (&#8220;AAL&#8221;) filed for federal bankruptcy protection. On December 9, 2013, AMR emerged from federal bankruptcy with the acceptance of its reorganization plan by the bankruptcy court. Under the settlement agreement established to meet AMR&#8217;s unsecured bond obligations, the bondholders, including the Fund, received a distribution of AAL preferred stock which was converted to AAL common stock over a 120-day period. Every 30 days, a quarter of the preferred stock was converted to AAL common stock based on the 5-day volume-weighted average price and the amount of preferred shares tendered during the optional preferred conversion period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(16)</td>
<td style="FONT-FAMILY: Arial">During January 2010, Las Vegas Monorail Company (&#8220;Las Vegas Monorail&#8221;) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund&#8217;s Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund&#8217;s records.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">(17)</td>
<td style="FONT-FAMILY: Arial">Adjustable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 7.2%.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">144A</td>
<td style="FONT-FAMILY: Arial">Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">ETM</td>
<td style="FONT-FAMILY: Arial">Escrowed to maturity.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">IF</td>
<td style="FONT-FAMILY: Arial">Inverse floating rate security issued by a tender option bond (&#8220;TOB&#8221;) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">PIK</td>
<td style="FONT-FAMILY: Arial">Payment-in-kind (&#8220;PIK&#8221;) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">UB</td>
<td style="FONT-FAMILY: Arial">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="TEXT-ALIGN: right; FONT: 10pt Arial; MARGIN: 0px">See <i>accompanying </i>notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">118</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT-FAMILY: Arial; MARGIN: 0px">&#160;</p>

<p style="MARGIN: 0px"></p>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Statement of Assets and Liabilities</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">April 30, 2018 (Unaudited)</p>

<table id="z753f4bc0691c4f459b81f20345bfecce" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 63%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Assets</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Long-term investments, at value (cost $4,828,747,168, $3,326,675,340 and $1,185,788,556, respectively)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,138,970,126</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,541,215,568</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,209,179,576</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Short-term investments, at value (cost $10,000,000, $&#8212; and $&#8212;, respectively)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,796,338</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,395,119</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,309,306</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash collateral at brokers for investments in swaps<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(1)</sup></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,451,906</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Interest rate swaps premiums paid</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Unrealized appreciation on interest rate swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Receivable for:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Dividends and interest</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">72,653,881</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">52,119,366</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,417,757</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments sold</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,359,191</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,107,959</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,839,064</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Deferred offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">206,036</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Other assets</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,609,071</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">735,212</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">105,982</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 25.9pt; TEXT-INDENT: -8.65pt">Total assets</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,255,618,047</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,623,573,224</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,238,057,721</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Liabilities</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Floating rate obligations</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">192,750,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,620,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">302,258,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Payable for:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Dividends</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,977,080</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,478,922</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,762,152</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Interest</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">759,268</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">182,295</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments purchased</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,140,228</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">25,628,284</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,992,497</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">126,163</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Variation margin on swap contracts</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">156,249</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Adjustable Rate MuniFund Term Preferred (&#8220;AMTP&#8221;) Shares, net of deferred offering costs (liquidation preference $&#8212;, $&#8212;, $87,000,000, respectively)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">86,867,364</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">MuniFund Term Preferred (&#8220;MFP&#8221;) Shares, net of deferred offering costs (liquidation preference $405,400,000, $305,000,000 and $&#8212;, respectively)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405,094,990</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">304,389,774</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate MuniFund Term Preferred (&#8220;VMTP&#8221;) Shares, net of deferred offering costs (liquidation preference $&#8212;, $336,000,000 and $&#8212;, respectively)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">335,980,501</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, net of deferred offering costs (liquidation preference $1,411,600,000, $727,000,000 and $&#8212;, respectively)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,407,633,477</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">721,949,584</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Accrued expenses:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Management fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,626,201</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,805,479</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">678,923</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Trustees fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">848,098</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">566,657</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">85,169</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Shelf offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">140,360</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">932,415</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">651,637</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">187,645</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 25.9pt; TEXT-INDENT: -8.65pt">Total liabilities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,033,158,738</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,425,956,269</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">397,234,755</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,222,459,309</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2,197,616,955</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">840,822,966</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares outstanding</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">202,552,895</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">142,125,906</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">64,078,935</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net asset value (&#8220;NAV&#8221;) per common share outstanding</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">15.91</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">15.46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">13.12</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Net assets applicable to common shares consist of:</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares, $0.01 par value per share</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,025,529</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,421,259</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">640,789</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Paid-in-surplus</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,906,044,544</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,009,134,254</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">815,495,040</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Undistributed (Over-distribution of) net investment income</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(2,668,662</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,179,396</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,984,930</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Accumulated net realized gain (loss)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">602,163</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(28,658,182</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(688,813</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net unrealized appreciation (depreciation)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">316,455,735</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">214,540,228</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23,391,020</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,222,459,309</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2,197,616,955</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">840,822,966</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Authorized shares:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Common</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Unlimited</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Unlimited</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Unlimited</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Preferred</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Unlimited</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Unlimited</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Unlimited</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 8pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z7ba4968b4378474a981154a01236225d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(1)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Cash pledged to collateralize the net payment obligations for investments in swaps.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">119</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Statement of Operations</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Six Months Ended April 30, 2018 (Unaudited)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zdfcfd98a1f2749ad9cd1512a5bcad12a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 63%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Investment Income</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">119,394,697</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">84,277,908</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">32,397,930</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial"><b>Expenses</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Management fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,769,743</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,754,254</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,104,196</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Interest expense and amortization of offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,214,796</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,195,236</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,494,848</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Liquidity fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,334,388</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">961,289</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Remarketing fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">529,224</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">111,819</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Custodian fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">243,127</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">177,112</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">67,777</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Trustees fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">66,485</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">47,472</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,587</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Professional fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">122,053</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">92,639</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">57,580</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Shareholder reporting expenses</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">151,037</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">104,691</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">43,883</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Shareholder servicing agent fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">53,856</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">35,426</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,439</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Stock exchange listing fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">28,142</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">19,746</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">657</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Investor relations expenses</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">168,866</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">118,787</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">31,830</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Other</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">175,095</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">264,764</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">34,485</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Total expenses</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">37,856,812</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">25,883,235</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">7,855,282</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Net investment income (loss)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">81,537,885</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">58,394,673</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">24,542,648</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial"><b>Realized and Unrealized Gain (Loss)</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Net realized gain (loss) from:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,096,512</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(3,700,798</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">787,743</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,980</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Change in net unrealized appreciation (depreciation) of:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(106,750,634</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(74,340,430</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(22,757,010</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,084,704</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Net realized and unrealized gain (loss)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(89,548,438</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(78,041,228</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(21,969,267</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from operations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(8,010,553</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(19,646,555</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2,573,381</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">120</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Statement of Changes in Net Assets (Unaudited)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z8141b21d4b8d46598fba5431c4f53434" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; WIDTH: 27%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 9%"><b>Six Months</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 9%"><b>Year</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 9%"><b>Six Months</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 9%"><b>Year</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 9%"><b>Six Months</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 9%"><b>Year</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Ended</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Ended</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Ended</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Ended</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Ended</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Ended</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>4/30/18</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>10/31/17</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>4/30/18</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>10/31/17</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>4/30/18</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>10/31/17</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Operations</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net investment income (loss)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">81,537,885</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">170,282,507</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">58,394,673</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">124,118,718</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,542,648</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">48,542,922</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net realized gain (loss) from:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,096,512</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,532,777</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(3,700,798</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,067,720</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">787,743</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,675,860</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,980</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,171,946</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Change in net unrealized appreciation (depreciation) of:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(106,750,634</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(45,476,888</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(74,340,430</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(43,006,732</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(22,757,010</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(15,666,329</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,084,704</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">175,850</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from operations</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(8,010,553</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">132,686,192</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(19,646,555</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">84,179,706</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,573,381</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">37,552,453</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Distributions to Common Shareholders</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">From net investment income</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(89,305,569</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(177,152,759</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(61,640,004</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(126,776,305</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(24,855,576</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(48,660,423</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">From accumulated net realized gains</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(5,914,545</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(255,827</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Decrease in net assets applicable to common shares from distributions to common shareholders</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(89,305,569</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(183,067,304</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(61,640,004</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(127,032,132</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(24,855,576</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(48,660,423</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Capital Share Transactions</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Common shares:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Proceeds from shelf offering, net of offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,084,815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">75,368,774</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Net proceeds from shares issued to shareholders due to reinvestment of distributions</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">274,882</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">907,184</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares from capital share transactions</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">9,359,697</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">76,275,958</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net increase (decrease) in net assets applicable to common shares</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(97,316,122</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(50,381,112</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(81,286,559</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(42,852,426</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(12,922,498</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">65,167,988</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares at the beginning of period</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,319,775,431</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,370,156,543</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,278,903,514</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,321,755,940</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">853,745,464</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">788,577,476</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net assets applicable to common shares at the end of period</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,222,459,309</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,319,775,431</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2,197,616,955</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2,278,903,514</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">840,822,966</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">853,745,464</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Undistributed (Over-distribution of) net investment income at the end of period</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(2,668,662</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">5,099,022</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,179,396</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,424,727</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,984,930</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2,297,858</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">121</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Statement of Cash Flows</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Six Months Ended April 30, 2018 (Unaudited)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z55864a6b16244460b3ee0925907f75df" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; WIDTH: 63%; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Cash Flows from Operating Activities:</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(8,010,553</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(19,646,555</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,573,381</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Adjustments to reconcile the net increase (decrease) in net assets applicable to common shares from operations to net cash provided by (used in) operating activities:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Purchases of investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(419,742,535</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(479,529,894</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(122,667,574</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from sales and maturities of investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">254,401,736</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">359,148,797</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">57,766,998</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from (Purchases of) short-term investments, net</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,880,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,170,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,852,450</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Payment-in-kind distributions</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(18,611</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(316,858</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Premiums received (paid) for interest rate swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">48</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Taxes paid</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(34,884</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(48,981</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(2,745</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Amortization (Accretion) of premiums and discounts, net</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(7,276,687</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(7,577,281</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">796,900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Amortization of deferred offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">84,532</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">129,898</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">23,064</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">(Increase) Decrease in:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Cash collateral at brokers for investments in swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,162,126</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Receivable for dividends and interest</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(3,179,459</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(1,161,474</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">753,784</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Receivable for investments sold</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,405,213</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(3,789,437</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,165,186</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Other assets</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6,618</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">407,798</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(21,853</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Increase (Decrease) in:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for interest</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(377,329</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">197,642</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">47,957</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for investments purchased</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,503,723</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,918,638</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">775,737</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">126,163</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">80,350</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Payable for variation margin on swap contracts</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(251,321</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued management fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(69,345</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(34,059</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(22,818</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued Trustees fees</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(29,384</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(18,098</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(1,334</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued other expenses</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">169,185</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">100,554</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(184,456</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 10pt; TEXT-INDENT: -8.65pt">Net realized (gain) loss from investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(12,096,511</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,700,798</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(787,743</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Change in net unrealized appreciation (depreciation) of:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investments</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">106,750,634</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">74,340,430</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">22,757,010</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Swaps<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">(1)</sup></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(1,268,646</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net cash provided by (used in) operating activities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(64,972,839</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(61,583,672</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(19,412,564</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Cash Flows from Financing Activities</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from borrowings</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">120,457,485</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">140,849,018</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Repayments of borrowings</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(120,457,485</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(140,849,018</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from AMTP Shares issued, at liquidation preference</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from MFP Shares issued, at liquidation preference</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405,400,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">155,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">(Payments for) VMTP Shares redeemed, at liquidation preference</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(240,400,000</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(87,000,000</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">(Payments for) deferred offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(295,000</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(290,000</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(135,000</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Proceeds from shelf offering, net of offering cost</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,084,815</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Increase (Decrease) in:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Floating rate obligations</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(555,000</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(14,810,000</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">34,028,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Accrued shelf offering costs</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">140,360</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash distributions paid to Common shareholders</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(89,297,603</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(62,180,630</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(24,834,696</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Net cash provided by (used in) financing activities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">74,852,397</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">77,719,370</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">18,283,479</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Net Increase (Decrease) in Cash</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,879,558</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,135,698</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(1,129,085</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash at beginning of period</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,916,780</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,259,421</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">2,438,391</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash at end of period</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">12,796,338</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">19,395,119</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,309,306</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td style="TEXT-ALIGN: right">&#160;</td>
<td>&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt"><b>Supplemental Disclosure of Cash Flow Information</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Cash paid for interest (excluding amortization of offering cost)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16,490,044</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12,512,696</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,433,213</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Non-cash financing activities not included herein consists of reinvestments of common share distributions</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">274,882</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z803721f3f98c4aef9c82c34a20bb36da" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(1)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Excluding over-the-counter cleared swaps.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<p style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">122</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
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<p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="TEXT-ALIGN: center; FONT: 10pt Arial; MARGIN: 8pt 0px 0px">THIS PAGE INTENTIONALLY LEFT BLANK</p>

<p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">123</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Financial Highlights (Unaudited)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Selected data for a common share outstanding throughout each period:</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z153ad1319ef14301a194522575907822" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="8"><b>Investment Operations</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="8"><b>Less Distributions to</b><br>
<b>Common Shareholders</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="12"><b>Common Share</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Beginning</b><br>
<b>Common</b><br>
<b>Share</b><br>
<b>NAV</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Investment</b><br>
<b>Income</b><br>
<b>(Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Realized/</b><br>
<b>Unrealized</b><br>
<b>Gain (Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>From</b><br>
<b>Net</b><br>
<b>Investment</b><br>
<b>Income</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>From</b><br>
<b>Accumulated</b><br>
<b>Net</b><br>
<b>Realized</b><br>
<b>Gains</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Discount</b><br>
<b>Per</b><br>
<b>Share</b><br>
<b>Repurchased</b><br>
<b>and</b><br>
<b>Retired</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Discount</b><br>
<b>Per</b><br>
<b>Share</b><br>
<b>Repurchased</b><br>
<b>through</b><br>
<b>Tender</b><br>
<b>Offer</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Ending</b><br>
<b>NAV</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Ending</b><br>
<b>Share</b><br>
<b>Price</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 14%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2018(f)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.39</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.40</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.44</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.04</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.44</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.44</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.91</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.64</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.84</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.19</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.65</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.87</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.03</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.90</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.39</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.17</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.73</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.77</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.50</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.86</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.03</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.89</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.64</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.05</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.24</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.77</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.13</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.64</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.75</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.10</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.85</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.05</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.62</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.71</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.72</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.43</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.70</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.07</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.77</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.01</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.03</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.24</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.14</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2013</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.33</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.60</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(1.46</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.86</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.74</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.11</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.85</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.62</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2018(f)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.41</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.55</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.14</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.43</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.43</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.46</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.15</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.34</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.87</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.29</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.58</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.89</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.89</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.01</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.72</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.74</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.46</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.87</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.87</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.34</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.82</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.82</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.83</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.13</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.70</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.78</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.78</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.01</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.86</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14.32</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.72</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.47</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.19</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.72</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.72</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.82</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.80</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">15.99</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.71</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(1.63</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.92</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.75</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.75</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">14.32</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">12.66</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z704874b02e044723804e58218a8133a9" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 4%">(a)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 96%">Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Total Return Based on Common Share Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">124</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zdcc632043a24447596b83bd4acc689f5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="17"><b>Common Share Supplemental Data/</b><br>
<b>Ratios Applicable to Common Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>Common Share</b><br>
<b>Total Returns</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>Ratios to Average Net Assets</b><br>
<b>Before Reimbursement(b)</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>Ratio to Average Net Assets</b><br>
<b>After Reimbursement(b)</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Based</b><br>
<b>on</b><br>
<b>NAV</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: left"><b>(a)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Based</b><br>
<b>on</b><br>
<b>Share</b><br>
<b>Price</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(a)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Ending</b><br>
<b>Net</b><br>
<b>Assets</b><br>
<b>(000</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Expenses</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(c)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Investment</b><br>
<b>Income (Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Expenses</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(c)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Investment</b><br>
<b>Income (Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Portfolio</b><br>
<b>Turnover</b><br>
<b>Rate</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(d)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.25</td>
<td style="FONT-FAMILY: Arial">)%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.15</td>
<td style="FONT-FAMILY: Arial">%</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,222,459</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.32</td>
<td style="FONT-FAMILY: Arial">%**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.00</td>
<td style="FONT-FAMILY: Arial">%**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.25</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7.10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,319,775</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.05</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.26</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.04</td>
<td style="FONT-FAMILY: Arial">%(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.27</td>
<td style="FONT-FAMILY: Arial">%(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9.40</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.46</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,370,157</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.81</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.87</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.75</td>
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.93</td>
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.04</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.53</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">427,104</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.50</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.81</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">16.78</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">17.35</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">433,092</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.56</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(5.46</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(14.46</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">434,851</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3.87</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">32</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.87</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(2.88</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,197,617</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.31</td>
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.25</td>
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3.88</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7.61</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,278,904</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.12</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.58</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.11</td>
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.59</td>
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9.36</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.26</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,321,756</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.86</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.81</td>
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.08</td>
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.57</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6.21</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">571,790</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.48</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.24</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">26</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.90</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15.07</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">574,721</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.73</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.78</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(5.93</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(15.08</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">578,508</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.71</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4.66</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">N/A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">14</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6632eb820c584535acafbfadda1ebb17" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(b)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to preferred shares issued by the Fund.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(c)</td>
<td style="FONT-FAMILY: Arial">The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 4 &#8211; Fund Shares, Preferred Shares) and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund (as described in Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities), where applicable, as follows:</td>
</tr>
</table>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"></p>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"></p>

<table id="zd35e88c90125421e98ebf5e6f7943bb0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 87%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2018(f)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.29</td>
<td style="FONT-FAMILY: Arial">%**</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.02</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.78</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.46</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.75</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.06</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z3d9d86e54e4640da9243bb650ef69d07" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 87%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2018(f)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.27</td>
<td style="FONT-FAMILY: Arial">%**</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.09</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.84</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.46</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.72</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.75</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zc40202c7b7434de5b0cb39401a183c4e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(d)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 &#8211; Investment Transactions) divided by the average long-term market value during the period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">During the fiscal years ended October 31, 2017 and October 31, 2016, the Adviser voluntarily reimbursed the Fund for certain expenses incurred in connection with its reorganization.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(f)</td>
<td style="FONT-FAMILY: Arial">For the six months ended April 30, 2018.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">N/A</td>
<td style="FONT-FAMILY: Arial">Fund does not have or no longer has a contractual reimbursement with the Adviser.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">Rounds to less than $0.01 per share.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">Annualized.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<p style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px">&#160;</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">125</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Financial Highlights (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Selected data for a common share outstanding throughout each period:</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zd3582377b41b4d8e80d25d7d7c3366ed" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="8"><b>Investment Operations</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="8"><b>Less Distributions to</b><br>
<b>Common Shareholders</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="11"><b>Common Share</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Beginning</b><br>
<b>Common</b><br>
<b>Share</b><br>
<b>NAV</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Investment</b><br>
<b>Income</b><br>
<b>(Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Realized/</b><br>
<b>Unrealized</b><br>
<b>Gain (Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>From</b><br>
<b>Net</b><br>
<b>Investment</b><br>
<b>Income</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>From</b><br>
<b>Accumulated</b><br>
<b>Net</b><br>
<b>Realized</b><br>
<b>Gains</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Premium</b><br>
<b>Per</b><br>
<b>Share</b><br>
<b>Sold</b><br>
<b>through</b><br>
<b>Shelf</b><br>
<b>Offering</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Shelf</b><br>
<b>Offering</b><br>
<b>Costs</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Ending</b><br>
<b>NAV</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Ending</b><br>
<b>Share</b><br>
<b>Price</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 16%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 6%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2018(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.47</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.38</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.34</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.04</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.39</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.39</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.12</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12.41</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.68</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.80</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.22</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.58</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.81</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.81</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.02</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.47</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.53</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.66</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.86</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.04</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.90</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.91</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.91</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.03</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.68</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.32</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.71</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.91</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.04</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.87</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.92</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.92</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.66</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.76</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">12.36</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.93</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.33</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2.26</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.91</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(0.91</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.71</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13.21</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">13.45</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.94</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(1.20</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.26</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.88</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(0.88</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.05</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">12.36</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">11.99</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6cff1326da3a4ff0ac292afc87dd3fd9" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(a)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Total Return Based on Common Share Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.</td>
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<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">126</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

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<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="11"><b>Common Share Supplemental Data/</b><br>
<b>Ratios Applicable to Common Shares</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
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<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>Common Share</b><br>
<b>Total Returns</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>Ratios to Average Net Assets(b)</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Based</b><br>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Based</b><br>
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<b>Price</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(a)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Ending</b><br>
<b>Net</b><br>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Expenses</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(c)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Net</b><br>
<b>Investment</b><br>
<b>Income (Loss</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Portfolio</b><br>
<b>Turnover</b><br>
<b>Rate</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>(d)</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.27</td>
<td style="FONT-FAMILY: Arial">%</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(5.51</td>
<td style="FONT-FAMILY: Arial">)%</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">840,823</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.85</td>
<td style="FONT-FAMILY: Arial">%**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5.79</td>
<td style="FONT-FAMILY: Arial">%**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">%</td>
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<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4.73</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8.04</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">853,745</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.54</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6.14</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6.91</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3.34</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">788,577</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.28</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6.27</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6.54</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">11.49</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">684,109</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.25</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6.64</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18.90</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">18.31</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">686,299</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1.28</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7.14</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(1.71</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(9.71</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">618,394</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.28</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">7.34</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">16</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z801b23efc0284c85a8f9a954edab6a98" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-FAMILY: Arial; WIDTH: 5%">(b)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to preferred shares issued by the Fund.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(c)</td>
<td style="FONT-FAMILY: Arial">The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 4 &#8211; Fund Shares, Preferred Shares) and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund (as described in Note 3 &#8211; Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities), where applicable, as follows:</td>
</tr>
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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z4f0ba2e405234324843c10f9db63b5c5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 84%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2018(e)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.82</td>
<td style="FONT-FAMILY: Arial">%**</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.49</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.24</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.17</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.19</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.20</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z935e60ce54ee4b3aa31c03cced0a9e77" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(d)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 &#8211; Investment Transactions) divided by the average long-term market value during the period.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">(e)</td>
<td style="FONT-FAMILY: Arial">For the six months ended April 30, 2018.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">*</td>
<td style="FONT-FAMILY: Arial">Rounds to less than $0.01 per share.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">Annualized.</td>
</tr>
</table>

<p style="TEXT-ALIGN: right; FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">See accompanying notes to financial statements.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">127</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Financial Highlights (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zfb3fc85170a549a09b4b2fe68f2c4daa" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 22%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 5%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>iMTP Shares</b><br>
<b>at the End of Period</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>MFP Shares</b><br>
<b>at the End of Period</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>MTP Shares</b><br>
<b>at the End of Period (a)</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>VMTP Shares</b><br>
<b>at the End of Period</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>VRDP Shares</b><br>
<b>at the End of Period</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"><b>iMTP, MFP,</b><br>
<b>MTP, VMTP</b><br>
<b>and /or</b><br>
<b>VRDP Shares</b><br>
<b>at the End</b><br>
<b>of the Period</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Aggregate</b><br>
<b>Amount</b><br>
<b>Outstanding</b><br>
<b>(000</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Aggregate</b><br>
<b>Coverage</b><br>
<b>Per $5,000</b><br>
<b>Share</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Aggregate</b><br>
<b>Amount</b><br>
<b>Outstanding</b><br>
<b>(000</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Asset</b><br>
<b>Coverage</b><br>
<b>Per $100,000</b><br>
<b>Share</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Aggregate</b><br>
<b>Amount</b><br>
<b>Outstanding</b><br>
<b>(000</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Asset</b><br>
<b>Coverage</b><br>
<b>Per $10</b><br>
<b>Share</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Aggregate</b><br>
<b>Amount</b><br>
<b>Outstanding</b><br>
<b>(000</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: left"><b>)</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Asset</b><br>
<b>Coverage</b><br>
<b>Per $100,000</b><br>
<b>Share</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Aggregate</b><br>
<b>Amount</b><br>
<b>Outstanding</b><br>
<b>(000</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: left"><b>)</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Asset</b><br>
<b>Coverage</b><br>
<b>Per $100,000</b><br>
<b>Share</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right" colspan="2"><b>Asset</b><br>
<b>Coverage</b><br>
<b>Per $1</b><br>
<b>Liquidation</b><br>
<b>Preference</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NVG</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2018(b)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">405,400</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">277,351</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">1,411,600</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">277,351</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">$</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">2.77</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2017</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">240,400</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">300,955</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">1,411,600</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">300,955</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">3.01</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2016</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">240,400</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">304,005</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">1,411,600</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">304,005</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">3.04</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2015</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">179,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">338,606</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2014</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">179,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">341,951</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2013</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">108,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">31.69</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">92,500</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">316,883</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">3.17</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NZF</b></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2018(b)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">305,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">260,645</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">336,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">260,645</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">727,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">260,645</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">2.61</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2017</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">150,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">287,873</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">336,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">287,873</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">727,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">287,873</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">2.88</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2016</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">150,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">14,570</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">336,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">291,406</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">727,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">291,406</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">2.91</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2015</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">150,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">17,376</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">81,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">347,528</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">3.48</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2014</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">150,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">17,440</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">81,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">348,797</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: right">3.49</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">70,000</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">34.19</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">169,200</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">341,851</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3.42</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb80355d5431240b997a8310ee67be6df" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(a)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">The Ending and Average Market Value Per Share for each Series of the Fund&#8217;s MTP Shares were as follows:</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd02184d06d88497693b469d58c88175a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>2014</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>2013</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial"><b>Series 2014 (NVG PRCCL)</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Ending Market Value per Share</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10.09</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Average Market Value per Share</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10.05</td>
<td style="FONT-FAMILY: Arial">^</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10.11</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial"><b>Series 2016 (NZF PRC)</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Ending Market Value per Share</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10.10</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Average Market Value per Share</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">10.05</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">^^</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">10.10</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6afe40f0d3e944498b11e25a0e208ce9" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">(b)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">For the six months ended April 30, 2018.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">^</td>
<td style="FONT-FAMILY: Arial">For the period November 1, 2013 through December 23, 2013.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">^^</td>
<td style="FONT-FAMILY: Arial">For the period November 1, 2013 through April 11, 2014.</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">128</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z0c064e6e995445ef90ace7aeddf9db45" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 35%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center" colspan="5"><b>VMTP Shares</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>AMTP Shares</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="5"><b>at the End of Period</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Aggregate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Asset</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Aggregate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Asset</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Coverage</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Coverage</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Outstanding</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Per $100,000</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Outstanding</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Per $100,000</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>(000</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>Share</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>(000</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>)</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"><b>Share</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Year Ended 10/31:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2018(b)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,066,463</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,081,317</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2016</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,006,411</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">2015</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">886,333</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">2014</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">888,850</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">2013</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">87,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">810,798</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">129</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"><font style="FONT-SIZE: 18pt; FONT-FAMILY: Arial"><b>Notes to Financial Statements</b></font><b> <font style="FONT-FAMILY: Arial">(Unaudited)</font></b></p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">1. General Information and Significant Accounting Policies</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">General Information</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Fund Information</i><br>
 The funds covered in this report and their corresponding New York Stock Exchange (&#8220;NYSE&#8221;) symbols are as follows (each a &#8220;Fund&#8221; and collectively, the &#8220;Funds&#8221;):</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px 60pt">&#8226; Nuveen AMT-Free Municipal Credit Income Fund (NVG)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px 60pt">&#8226; Nuveen Municipal Credit Income Fund (NZF)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px 60pt">&#8226; Nuveen Municipal High Income Opportunity Fund (NMZ)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Funds are registered under the Investment Company Act of 1940, as amended, as diversified closed-end management investment companies. NVG, NZF and NMZ were organized as Massachusetts business trusts on July 12, 1999, March 21, 2001 and October 8, 2003, respectively. </p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The end of the reporting period for the Funds is April 30, 2018, and the period covered by these Notes to Financial Statements is the six months ended April 30, 2018 (the &#8220;current fiscal period&#8221;).</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Investment Adviser</i><br>
 The Funds&#8217; investment adviser is Nuveen Fund Advisors, LLC (the &#8220;Adviser&#8221;), a subsidiary of Nuveen, LLC (&#8220;Nuveen&#8221;). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds&#8217; portfolios, manages the Funds&#8217; business affairs and provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-advisory agreements with Nuveen Asset Management, LLC (the &#8220;Sub-Adviser&#8221;), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Investment Objectives and Principal Investment Strategies</i><br>
 Each Fund seeks to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal obligations issued by state and local government authorities or certain U.S. territories.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Significant Accounting Policies</b><br>
 Each Fund is an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (ASC) Topic 946, &#8220;Financial Services-Investment Companies.&#8221; The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Investment Transactions</i><br>
 Investment transactions are recorded on a trade date basis. Realized gains and losses from investment transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes. Investments purchased on a when-issued/delayed delivery basis may have extended settlement periods. Any investments so purchased are subject to market fluctuation during this period. The Funds have earmarked securities in their portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, the following Fund&#8217;s outstanding when-issued/delayed delivery purchase commitments were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zb7dcdf93bb76447eafacec1c666b67ac" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 83%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 3%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Outstanding when-issued/delayed delivery purchase commitments</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,025,484</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">130</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Investment Income</i><br>
 Dividend Income is recorded on the ex-dividend date. Investment income is comprised of interest income, which reflects the amortization of premiums and accretion of discounts for financial reporting purposes, and is recorded on an accrual basis. Investment income also reflects payment-in-kind (&#8220;PIK&#8221;) interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in lieu of cash.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Professional Fees</i><br>
 Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment or to pursue other claims or legal actions on behalf of Fund shareholders. If a refund is received for workout expenditures paid in a prior reporting period, such amounts will be recognized as &#8220;Legal fee refund&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Dividends and Distributions to Common Shareholders</i><br>
 Dividends from net investment income, if any, are declared monthly. Net realized capital gains and/or market discount from investment transactions, if any, are distributed to shareholders at least annually. Furthermore, capital gains are distributed only to the extent they exceed available capital loss carryforwards.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Distributions to common shareholders of net investment income, net realized capital gains and/or market discount, if any, are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Compensation</i><br>
 The Funds pay no compensation directly to those of its trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to the Funds from the Adviser or its affiliates. The Funds&#8217; Board of Trustees (&#8220;the Board&#8221;) has adopted a deferred compensation plan for independent trustees that enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Indemnifications</i><br>
 Under the Funds&#8217; organizational documents, their officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts that provide general indemnifications to other parties. The Funds&#8217; maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Netting Agreements</i><br>
 In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivative Association, Inc. (ISDA) master agreements or other similar arrangements (&#8220;netting agreements&#8221;). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities collateral on a counterparty basis.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Funds&#8217; investments subject to netting agreements as of the end of the reporting period, if any, are further described in Note 3 &#8211; Portfolio Securities and Investments in Derivatives.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Use of Estimates</i><br>
 The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets applicable to common shares from operations during the current fiscal period. Actual results may differ from those estimates.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>2. Investment Valuation and Fair Value Measurements</b><br>
 The fair valuation input levels as described below are for fair value measurement purposes.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">131</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued) </p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity&#8217;s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.</p>

<table id="zc083f5f862fc40f78148a8a745137a3e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 8%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 84%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Level 1 &#8211; </td>
<td style="FONT-FAMILY: Arial">Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Level 2 &#8211; </td>
<td style="FONT-FAMILY: Arial">Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">Level 3 &#8211; </td>
<td style="FONT-FAMILY: Arial">Prices are determined using significant unobservable inputs (including management&#8217;s assumptions in determining the fair value of investments).</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Prices of fixed income securities are provided by an independent pricing service (&#8220;pricing service&#8221;) approved by the Board. The pricing service establishes a security&#8217;s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. These securities are generally classified as Level 2. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer or market activity, provided by the Adviser. These securities are generally classified as Level 2 or Level 3 depending on the observability of the significant inputs.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Prices of swap contracts are also provided by a pricing service approved by the Board using the same methods as described above and are generally classified as Level 2.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Investments in investment companies are valued at their respective net asset value (&#8220;NAV&#8221;) on valuation date and are generally classified as Level 1.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Common stocks and other equity-type securities are valued at the last sales price on the securities exchange on which such securities are primarily traded and are generally classified as Level 1. Securities primarily traded on the Nasdaq National Market (&#8220;Nasdaq&#8221;) are valued at the Nasdaq Official Closing Price and are generally classified as Level 1. However, securities traded on a securities exchange or Nasdaq for which there were no transactions on a given day or securities not listed on a securities exchange or Nasdaq are valued at the quoted bid price and are generally classified as Level 2.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Board and/or its appointee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund&#8217;s NAV (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security&#8217;s fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the observability of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Board and/or its appointee.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of each Fund&#8217;s fair value measurements as of the end of the reporting period:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zbd3e6816b0464d489b14032a27155fd4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 45%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Level 1</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Level 2</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Level 3</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Long-Term Investments:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,138,002,568</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,138,002,568</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Corporate Bonds**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">967,558</td>
<td style="FONT-FAMILY: Arial">****</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">967,558</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Short-Term Investments:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">10,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Investments in Derivatives:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Interest Rate Swaps***</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,232,777</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">6,232,777</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">5,154,235,345</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">967,558</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">5,155,202,903</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">132</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z57a7063091e64a87bd021ae87edf39d8" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 45%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Level 1</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Level 2</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Level 3</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Total</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Long-Term Investments:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,537,594,795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,537,594,795</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Investment Companies</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,171,754</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,171,754</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Corporate Bonds**</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">449,019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">****</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">449,019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,171,754</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,537,594,795</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">449,019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,541,215,568</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z3f8fce7bed8648dd99687b0c9490c344" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 45%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 4%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Long-Term Investments:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Municipal Bonds*</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,198,320,285</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,071,857</td>
<td style="FONT-FAMILY: Arial">****</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,199,392,142</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Common Stock**</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,767,176</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,767,176</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Corporate Bonds**</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,258</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">****</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">20,258</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">9,767,176</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,198,320,285</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,092,115</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,209,179,576</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z19a106b1687d4566bc7de9bf57eec7a2" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Refer to the Fund&#8217;s Portfolio of Investments for state classifications.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">Refer to the Fund&#8217;s Portfolio of Investments for industry classifications.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">***</td>
<td style="FONT-FAMILY: Arial">Represents net unrealized appreciation (depreciation) as reported in the Fund&#8217;s Portfolio of Investments.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">****</td>
<td style="FONT-FAMILY: Arial">Refer to the Fund&#8217;s Portfolio of Investments for securities classified as Level 3.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Board is responsible for the valuation process and has appointed the oversight of the daily valuation process to the Adviser&#8217;s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board, is responsible for making fair value determinations, evaluating the effectiveness of the Funds&#8217; pricing policies and reporting to the Board. The Valuation Committee is aided in its efforts by the Adviser&#8217;s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the Funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making a fair value determination, based on the facts and circumstances specific to the portfolio instrument. Fair value determinations generally will be derived as follows, using public or private market information:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z66b3153b88a5449285891473e6fe8c77" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 3%">(i)</td>
<td style="FONT-FAMILY: Arial; WIDTH: 92%">If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">(ii)</td>
<td style="FONT-FAMILY: Arial">If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The purchase price of a portfolio instrument will be used to fair value the instrument only if no other valuation methodology is available or deemed appropriate, and it is determined that the purchase price fairly reflects the instrument&#8217;s current value.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">133</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">3. Portfolio Securities and Investments in Derivatives</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Portfolio Securities</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Inverse Floating Rate Securities</i><br>
 Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond (referred to as an &#8220;Underlying Bond&#8221;), typically with a fixed interest rate, into a special purpose tender option bond (&#8220;TOB&#8221;) trust (referred to as the &#8220;TOB Trust&#8221;) created by or at the direction of one or more Funds. In turn, the TOB Trust issues (a) floating rate certificates (referred to as &#8220;Floaters&#8221;) in face amounts equal to some fraction of the Underlying Bond&#8217;s par amount or market value, and (b) an inverse floating rate certificate (referred to as an &#8220;Inverse Floater&#8221;) that represents all remaining or residual interest in the TOB Trust. Floaters typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value, which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider (&#8220;Liquidity Provider&#8221;), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more of the Funds. The income received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse Floater holder bears substantially all of the Underlying Bond&#8217;s downside investment risk and also benefits disproportionately from any potential appreciation of the Underlying Bond&#8217;s value. The value of an Inverse Floater will be more volatile than that of the Underlying Bond because the interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest paid on the Floaters, and because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more than par in certain circumstances), and (b) have the trustee of the TOB Trust (the &#8220;Trustee&#8221;) transfer the Underlying Bond held by the TOB Trust to the Fund, thereby collapsing the TOB Trust.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Fund may acquire an Inverse Floater in a transaction where it (a) transfers an Underlying Bond that it owns to a TOB Trust created by a third party or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a &#8220;self-deposited Inverse Floater&#8221;). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first owning the Underlying Bond (referred to as an &#8220;externally-deposited Inverse Floater&#8221;).</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">An investment in a self-deposited Inverse Floater is accounted for as a &#8220;financing&#8221; transaction (i.e., a secured borrowing). For a self-deposited Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund&#8217;s Portfolio of Investments as &#8220;(UB) &#8211; Underlying bond of an inverse floating rate trust reflected as a financing transaction,&#8221; with the Fund recognizing as liabilities, labeled &#8220;Floating rate obligations&#8221; on the Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in &#8220;Investment Income&#8221; the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB Trust&#8217;s borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the Fund&#8217;s Portfolio of Investments as &#8220;(IF) &#8211; Inverse floating rate investment.&#8221; For an externally-deposited Inverse Floater, a Fund&#8217;s Statement of Assets and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in &#8220;Investment Income&#8221; only the net amount of earnings on the Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, the aggregate value of Floaters issued by each Fund&#8217;s TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z97b4ac75a326498b82e629779bd676cc" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>Floating Rate Obligations Outstanding</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Floating rate obligations: self-deposited Inverse Floaters</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">192,750,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">24,620,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">302,258,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Floating rate obligations: externally-deposited Inverse Floaters</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">104,237,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">23,195,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">134,580,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">296,987,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">47,815,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">436,838,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">134</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average annual interest rate and fees related to self-deposited Inverse Floaters, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zeb7d3f3cea4f48f4a2e78ce25f8e6037" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Self-Deposited Inverse Floaters</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Average floating rate obligations outstanding</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">192,958,011</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">29,365,746</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">285,293,956</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Average annual interest rate and fees</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.82</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.83</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.81</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that Floaters are (a) tendered to the Trustee for remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire the Floaters that were tendered and not remarketed prior to providing such a loan. In these circumstances, the Liquidity Provider remains obligated to provide a loan to the extent that the proceeds of the sale of the Underlying Bond are not sufficient to pay the purchase price of the Floaters.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust&#8217;s outstanding Floaters plus any accrued interest. In consideration of the loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be effectively borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater than the rate that would have been paid had the Floaters been successfully remarketed.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As described above, any amounts outstanding under a liquidity facility are recognized as a component of &#8220;Floating rate obligations&#8221; on the Statement of Assets and Liabilities by the Fund holding the corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the reporting period NVG and NMZ had outstanding borrowings under such liquidity facilities in the amount of $1,486,242 and $793,368, respectively, which is recognized as a component of &#8220;Floating rate obligations&#8221; on the Statement of Assets and Liabilities. There were no loans outstanding under such facilities for NZF as of the end of the reporting period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a &#8220;recourse arrangement&#8221;) (TOB Trusts involving such agreements are referred to herein as &#8220;Recourse Trusts&#8221;), under which a Fund agrees to reimburse the Liquidity Provider for the Trust&#8217;s Floaters, in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus any shortfalls in interest cash flows. Under these agreements, a Fund&#8217;s potential exposure to losses related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as &#8220;Unrealized depreciation on Recourse Trusts&#8221; on the Statement of Assets and Liabilities.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, each Fund&#8217;s maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z93510082376f478dbf777fc68babeddb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>Floating Rate Obligations &#8211; Recourse Trusts</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">152,540,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">8,775,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">233,188,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">63,310,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">12,610,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">128,580,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">215,850,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">21,385,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">361,768,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Zero Coupon Securities</i><br>
 A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Investments in Derivatives</b><br>
 In addition to the inverse floating rate securities in which each Fund may invest, which are considered portfolio securities for financial reporting purposes, each Fund is authorized to invest in certain derivative instruments such as futures, options and swap contracts. Each Fund limits its investments in futures, options on futures and swap contracts to the extent necessary for the Adviser to claim the exclusion from registration by the Commodity Futures Trading Commission as a commodity pool operator with respect to the Fund. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds&#8217; investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">135</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Interest Rate Swap Contracts</i><br>
 Interest rate swap contracts involve a Fund&#8217;s agreement with the counterparty to pay or receive a fixed rate payment in exchange for the counterparty receiving or paying a variable rate payment. Forward interest rate swap contracts involve a Fund&#8217;s agreement with a counterparty to pay, in the future, a fixed or variable rate payment in exchange for the counterparty paying the Fund a variable or fixed rate payment, the accruals for which would begin at a specified date in the future (the &#8220;effective date&#8221;).</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The amount of the payment obligation for an interest rate swap is based on the notional amount and the termination date of the swap contract. Interest rate swap contracts do not involve the delivery of securities or other underlying assets or principal. Accordingly, the risk of loss with respect to the swap counterparty on such transactions is limited to the net amount of interest payments that the Fund is to receive.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Interest rate swap contracts are valued daily. Upon entering into an interest rate swap contract (and beginning on the effective date for a forward interest rate swap contract), a Fund accrues the fixed rate payment expected to be paid or received and the variable rate payment expected to be received or paid on the interest rate swap contracts on a daily basis, and recognizes the daily change in the fair value of the Fund&#8217;s contractual rights and obligations under the contracts. For an over-the-counter (&#8220;OTC&#8221;) swap that is not cleared through a clearing house (&#8220;OTC Uncleared&#8221;), the amount recorded on these transactions is recognized on the Statement of Assets and Liabilities as a component of &#8220;Unrealized appreciation or depreciation on interest rate swaps.&#8221;</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Upon the execution of an OTC swap cleared through a clearing house (&#8220;OTC Cleared&#8221;), the Fund is obligated to deposit cash or eligible securities, also known as &#8220;initial margin,&#8221; into an account at its clearing broker equal to a specified percentage of the contract amount. Cash deposited by the Fund to cover initial margin requirements on open swap contracts, if any, is recognized as a component of &#8220;Cash collateral at brokers for investments in swaps&#8221; on the Statement of Assets and Liabilities. Investments in OTC Cleared swaps obligate the Fund and the clearing broker to settle monies on a daily basis representing changes in the prior day&#8217;s &#8220;mark-to-market&#8221; of the swap contract. If the Fund has unrealized appreciation, the clearing broker will credit the Fund&#8217;s account with an amount equal to the appreciation. Conversely, if the Fund has unrealized depreciation, the clearing broker will debit the Fund&#8217;s account with an amount equal to the depreciation. These daily cash settlements are also known as &#8220;variation margin.&#8221; Variation margin for OTC Cleared swaps is recognized as a receivable and/or payable for &#8220;Variation margin on swap contracts&#8221; on the Statement of Assets and Liabilities. Upon the execution of an OTC Uncleared swap, neither the Fund nor the counterparty is required to deposit initial margin as the trades are recorded bilaterally between both parties to the swap contract, and the terms of the variation margin are subject to a predetermined threshold negotiated by the Fund and the counterparty. Variation margin for OTC Uncleared swaps is recognized as a component of &#8220;Unrealized appreciation or depreciation on interest rate swaps&#8221; as described in the preceding paragraph.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The net amount of periodic payments settled in cash are recognized as a component of &#8220;Net realized gain (loss) from swaps&#8221; on the Statement of Operations, in addition to the net realized gain or loss recorded upon the termination of the swap contract. For tax purposes, payments expected to be received or paid on the swap contracts are treated as ordinary income or expense, respectively. Changes in the value of the swap contracts during the fiscal period are recognized as a component of &#8220;Change in net unrealized appreciation (depreciation) of swaps&#8221; on the Statement of Operations. In certain instances, payments are made or received upon entering into the swap contract to compensate for differences between the stated terms of the swap agreements and prevailing market conditions (credit spreads, currency exchange rates, interest rates, and other relevant factors). Payments received or made at the beginning of the measurement period, if any, are recognized as &#8220;Interest rate swaps premiums paid and/or received&#8221; on the Statement of Assets and Liabilities.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current fiscal period, NVG continued to invest in forward interest rate swap contracts, as part of its duration management strategies, to help reduce price volatility risk to movements in U.S. interest rates relative to the Fund&#8217;s benchmark.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The average notional amount of interest rate swap contracts outstanding during the current fiscal period was as follows:</p>

<table id="z687be6a608e3444ca94132cfa8502469" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 86%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Average notional amount of interest rate swap contracts outstanding*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">122,400,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf163b6ed7b9d4dd7ad7bcc084f7bd023" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal period and at the end of each fiscal quarter within the current fiscal period.</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">136</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The following table presents the fair value of all swap contracts held by NVG as of the end of the reporting period, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zbe4559c3b1eb428b967c8d96135eb225" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="11"><b>Location on the Statement of Assets and Liabilities</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="4"><b>Asset Derivatives</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="4"><b>(Liability) Derivatives</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 14%"><b>Underlying</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 16%"><b>Derivative</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 21%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 7%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 24%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 7%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Risk Exposure</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Instrument</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Location</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Location</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Value</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Interest rate</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Swaps (OTC</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Unrealized appreciation</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Uncleared)</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">on interest rate swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Interest rate</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Swaps (OTC</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Payable for variation margin</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4,456,260</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Cleared)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">on swap contracts*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,456,260</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z234d51fb4aa345c3a7271ff79d5f74be" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Some swap contracts require a counterparty to pay or receive a premium, which is disclosed on the Statement of Assets and Liabilities and is not reflected in the cumulative unrealized appreciation (depreciation) presented above. Value represents the unrealized appreciation (depreciation) of swaps as reported in the Fund&#8217;s Portfolio of Investments and not the asset and/or liability amount as described in the table above.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The following table presents the Fund&#8217;s swap contracts subject to netting agreements, and the collateral delivered related to those swap contracts as of the end of the reporting period.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zc3e4af4becfa4755b0902017428adadd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="8"><b>Gross Amounts Not Offset</b><br>
<b>on the Statement of</b><br>
<b>Assets and Liabilities</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 7%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left; WIDTH: 11%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%"><b>Gross</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%"><b>Gross</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%"><b>Net Unrealized</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Unrealized</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Unrealized</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Appreciation</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Collateral</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Appreciation on</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>(Depreciation) on</b></td>
<td style="FONT-FAMILY: Arial"></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>(Depreciation) on</b></td>
<td></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Pledged</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Interest Rate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Interest Rate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Interest Rate</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Financial</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>to (from</b></td>
<td style="FONT-FAMILY: Arial"><b>)</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Net</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>Counterparty</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Swaps</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>**</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Swaps</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>**</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Swaps</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Instruments</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>***</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Counterparty</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Exposure</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left">JPMorgan Chase</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,776,517</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(1,701,391</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">75,126</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: left">Bank, N.A.</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z87e183525ec54c3a95f1faf9b809ee90" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">**</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Represents gross unrealized appreciation (depreciation) for the counterparty as reported in the Fund&#8217;s Portfolio of Investments.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">***</td>
<td style="FONT-FAMILY: Arial">Represents inverse floating rate securities available for offset, when applicable.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on swap contracts on the Statement of Operations during the current fiscal period, and the primary underlying risk exposure.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z18a6170f3a744a50a00d4b67501d1552" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 47%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%"><b>Change in Net</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Net Realized</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Unrealized Appreciation</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: left"><b>Underlying</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Derivative</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>Gain (Loss) from</b></td>
<td style="FONT-FAMILY: Arial"></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right"><b>(Depreciation) of</b></td>
<td style="FONT-FAMILY: Arial"></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><b>Risk Exposure</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Instrument</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Swaps</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Swaps</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: left">Interest rate</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">Swaps</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">20,980</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">5,084,705</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Market and Counterparty Credit Risk</i><br>
 In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund&#8217;s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">137</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"></p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">4. Fund Shares</p>

<p style="FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">Common Shares </p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Common Shares Equity Shelf Programs and Offering Costs</i><br>
 NMZ has filed a registration statement with the Securities and Exchange Commission (&#8220;SEC&#8221;) authorizing the Fund to issue additional common shares through one or more equity shelf programs (&#8220;Shelf Offering&#8221;), which became effective with the SEC during the current and prior fiscal period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Under this Shelf Offering, the Fund, subject to market conditions, may raise additional equity capital by issuing additional common shares from time to time in varying amounts and by different offering methods at a net price at or above the Fund&#8217;s NAV per common share. In the event the Fund&#8217;s Shelf Offering registration statement is no longer current, the Fund may not issue additional common shares until a post-effective amendment to the registration statement has been filed with the SEC.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Additional authorized common shares, common shares sold and offering proceeds, net of offering costs under the Fund&#8217;s Shelf Offering during the Fund&#8217;s current and prior fiscal period were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2c73216edb3349c88ff3e0c05eff828b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"><b>NMZ</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 75%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Six Months</b><br>
<b>Ended</b><br>
<b>4/30/18</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Year</b><br>
<b>Ended</b><br>
<b>10/31/17</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Additional authorized common shares</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">15,700,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">21,200,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Common shares sold</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">669,558</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5,696,100</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Offering proceeds, net of offering costs</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">9,084,815</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">75,368,774</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Costs incurred by the Fund in connection with its initial shelf registration is recorded as a prepaid expense and recognized as &#8220;Deferred offering costs&#8221; on the Statement of Assets and Liabilities. These costs are amortized pro rata as shares are sold and are recognized as a component of &#8220;Proceeds from shelf offering, net of offering costs&#8221; on the Statement of Changes in Net Assets. Any deferred offering costs remaining one year after effectiveness of the initial shelf registration will be expensed. Costs incurred by the Funds to keep the shelf registration current are expensed as incurred and recognized as a component of &#8220;Other expenses&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Common Share Transactions</i><br>
 Transactions in common shares for the Funds during the Funds&#8217; current and prior fiscal period, where applicable, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z3eeba4042a814486a9dbbbe1ba591ab4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"><b>NMZ</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 8.65pt; WIDTH: 75%; TEXT-INDENT: -8.65pt">Common shares:</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Six Months</b><br>
<b>Ended</b><br>
<b>4/30/18</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Year</b><br>
<b>Ended</b><br>
<b>10/31/17</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Issued to shareholders due to reinvestment of distributions</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">20,267</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">68,955</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Sold through shelf offering</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">669,558</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">5,696,100</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 8.65pt; TEXT-INDENT: -8.65pt">Weighted average common share:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">Premium to NAV per shelf offering share sold</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.13</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.30</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: italic 10pt Arial; MARGIN: 8pt 0px 0px">Preferred Shares</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Adjustable Rate MuniFund Term Preferred Shares</i><br>
 NMZ have issued and have outstanding Adjustable Rate MuniFund Term Preferred (&#8220;AMTP&#8221;) Shares, with a $100,000 liquidation preference per share. AMTP Shares are issued via private placement and are not publicly available.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, NMZ had $86,867,364 AMTP Shares outstanding, at liquidation preference, net of deferred offering costs. Further details of NMZ&#8217;s AMTP Shares outstanding as of the end of the reporting period, were as follows:&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z73fd0dc66d5a4bc78edcbab8a4456fdd" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 60%"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b><br>
<b>Outstanding</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Liquidation</b><br>
<b>Preference</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">NMZ</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">870</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">138</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Fund is obligated to redeem its AMTP Shares by the date as specified in its offering document (&#8220;Term Redemption Date&#8221;), unless earlier redeemed by the Fund. AMTP Shares are subject to optional and mandatory redemption in certain circumstances. The AMTP Shares may be redeemed at the option of the Fund, subject to payment of premium for approximately six months following the date of issuance (&#8220;Premium Expiration Date&#8221;), and at the redemption price per share thereafter. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">AMTP Shares are short-term or short/intermediate-term instruments that pay a variable dividend rate tied to a short-term index, plus an additional fixed &#8220;spread&#8221; amount which is initially established at the time of issuance and may be adjusted in the future based upon a mutual agreement between the majority owner and the Fund. From time-to-time the majority owner may propose to the Fund an adjustment to the dividend rate. Should the majority owner and the Fund fail to agree upon an adjusted dividend rate, and such proposed dividend rate adjustment is not withdrawn, the Fund will be required to redeem all outstanding shares upon the end of a notice period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">In addition, the Fund may be obligated to redeem a certain amount of the AMTP Shares if the Fund fails to maintain certain asset coverage and leverage ratio requirements and such failures are not cured by the applicable cure date. The Term Redemption Date and Premium Expiration Date for the Fund&#8217;s AMTP Shares are as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z58506f10b8ea479db7666a5db9e114eb" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 52%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%"><b>Notice</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Term</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 12%"><b>Premium</b></td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Period</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Redemption Date</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Expiration Date</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">NMZ</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">360-day</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">March 1, 2028*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">August 31, 2018</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z66a0370dc2444e8398711f387fb5830b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Subject to early termination by either the Fund or the holder.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The average liquidation preference of AMTP Shares outstanding and annualized dividend rate for the Fund during the current fiscal period were as follows:</p>

<table id="zd25add2c798d449e9f93c462ace02c0a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 86%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>*</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Average liquidation preference of AMTP Shares outstanding</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Annualized dividend rate</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.30</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zc5d328d87de14d50b151c291039dfb0c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">For the period February 26, 2018 through April 30, 2018</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">AMTP Shares are subject to restrictions on transfer, generally do not trade, and market quotations are generally not available. The fair value of AMTP Shares is expected to be approximately their liquidation preference so long as the fixed &#8220;spread&#8221; on the AMTP Shares remains roughly in line with the &#8220;spread&#8221; being demanded by investors on instruments having similar terms in the current market environment. In present market conditions, the Funds&#8217; Adviser has determined that the fair value of AMTP Shares is approximately their liquidation preference, but their fair value could vary if market conditions change materially. For financial reporting purposes, the liquidation preference of AMTP Shares is a liability and is recognized as a component of &#8220;Adjustable Rate MuniFund Term Preferred (&#8220;AMTP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">AMTP Share dividends are treated as interest payments for financial reporting purposes. Unpaid dividends on AMTP Shares are recognized as a component of &#8220;Interest payable&#8221; on the Statement of Assets and Liabilities. Dividends accrued on AMTP Shares are recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">NMZ incurred offering costs of $135,000 in connection with its offering of AMTP Shares were recorded as deferred charges which are amortized over the life of the shares and are recognized as components of &#8220;Adjustable Rate MuniFund Term Preferred (&#8220;AMTP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px"><i>MuniFund Preferred Shares</i><br>
 The following Funds have issued and have outstanding MuniFund Preferred (&#8220;MFP&#8221;) Shares, with a $100,000 liquidation preference per share. These MFP Shares were issued via private placement and are not publically available.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">The Funds are obligated to redeem their MFP Shares by the date as specified in its offering documents (&#8220;Term Redemption Date&#8221;), unless earlier redeemed by the Funds. MFP Shares are initially issued in a pre-specified mode, however, MFP Shares can be subsequently designated as an alternative mode at a later date at the discretion of the Funds. The modes within MFP Shares detail the dividend mechanics and are described as follows. At a subsequent date, the Fund may establish additional mode structures with the MFP Share.</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="ze6b13d10acb64f6aa732eb9fecca1192" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">&#8226;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Variable Rate Remarketed Mode (&#8220;VRRM&#8221;) &#8211; Dividends for MFP Shares within this mode will be established by a remarketing agent; therefore, market value of the MFP Shares is expected to approximate its liquidation preference. Shareholders have the ability to request a best-efforts tender of its shares upon seven days notice. If the remarketing agent is unable to identify an alternative purchaser, the shares will be retained by the shareholder requesting tender and the subsequent dividend rate will increase to its step-up dividend rate. If after one consecutive year of unsuccessful remarketing attempts, the Fund will be required to designate an alternative mode or redeem the shares.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">139</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z256cc46107a84e09ab32d656a44c9629" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Each Fund will pay a remarketing fee on the aggregate principal amount of all MFP Shares while designated in VRRM. Payments made by the Fund to the remarketing agent are recognized as &#8220;Remarketing fees&#8221; on the Statement of Operations.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#8226;</td>
<td style="FONT-FAMILY: Arial">Variable Rate Mode (&#8220;VRM&#8221;) &#8211; Dividends for MFP Shares designated in this mode are based upon a short-term index plus an additional fixed &#8220;spread&#8221; amount established at the time of issuance or renewal / conversion of its mode. At the end of the period of the mode, the Fund will be required to either extend the term of the mode, designate an alternative mode or redeem the MFP Shares.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">The fair value of MFP Shares while in VRM are expected to approximate their liquidation preference so long as the fixed &#8220;spread&#8221; on the shares remains roughly in line with the &#8220;spread&#8221; being demanded by investors on instruments having similar terms in the current market. In current market conditions, the Adviser has determined that the fair value of the shares are approximately their liquidation preference, but their fair value could vary if market conditions change materially.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#8226;</td>
<td style="FONT-FAMILY: Arial">Variable Rate Demand Mode (&#8220;VRDM&#8221;) &#8211; Dividends for MFP Shares designated in this mode will be established by a remarketing agent; therefore, the market value of the MFP Shares is expected to approximate its liquidation preference. While in this mode, Shares will have an unconditional liquidity feature that enable its shareholders to require a liquidity provider, which the Fund has entered into a contractual agreement, to purchase shares in the event that the shares are not able to be successfully remarketed. In the event that shares within this mode are unable to be successfully remarketed and are purchased by the liquidity provider, the dividend rate will be the maximum rate which is designed to escalate according to a specified schedule in order to enhance the remarketing agent&#8217;s ability to successfully remarket the shares. Each Fund is required to redeem any shares that are still owned by a liquidity provider after six months of continuous, unsuccessful remarketing.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">The Fund will pay a liquidity and remarketing fee on the aggregate principal amount of all MFP shares while within VRDM. Payments made by the Fund to the liquidity provider and remarketing agent are recognized as &#8220;Liquidity fees&#8221; and &#8220;Remarketing fees&#8221;, respectively, on the Statement of Operations.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For financial reporting purposes, the liquidation preference of MFP Shares is recorded as a liability and is recognized as a component of &#8220;MuniFund Preferred (&#8220;MFP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities. Dividends on the MFP shares are treated as interest payments for financial reporting purposes. Unpaid dividends on MFP shares are recognized as a component on &#8220;Interest payable&#8221; on the Statement of Assets and Liabilities. Dividends accrued on MFP Shares are recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Subject to certain conditions, MFP Shares may be redeemed, in whole or in part, at any time at the option of the Fund. The Fund may also be required to redeem certain MFP shares if the Fund fails to maintain certain asset coverage requirements and such failures are not cured by the applicable cure date. The redemption price per share in all circumstances is equal to the liquidation preference per share plus any accumulated but unpaid dividends.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">NVG and NZF incurred offering costs of $295,000 and $290,000, respectively in connection with their offering of MFP Shares, which were recorded as a deferred charge and are being amortized over the life of the shares. These offering costs are recognized as a component of &#8220;MuniFund Preferred (&#8220;MFP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, NVG and NZF had $405,094,990 and $304,389,774 MFP Shares at liquidation preference, net of deferred offering costs, respectively. Further details of each Fund&#8217;s MFP Shares outstanding as of the end of the reporting period, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zdd397d1c470d466e86c15a1801dfc7d0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 27%"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>Shares</b><br>
<b>Outstanding</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>Liquidation</b><br>
<b>Preference</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>Term</b><br>
<b>Redemption Date</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>Mode</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>Mode</b><br>
<b>Termination</b><br>
<b>Date</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,054</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">405,400,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">January 3, 2028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">VRM</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">January 3, 2028*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">150,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">May 1, 2047</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">VRM</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">May 1, 2047*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,550</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">155,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">February 3, 2048</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">VRM</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">February 3, 2048*</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z739dbc7c348d48609c011923c3eff4b5" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Subject to earlier termination by either the Fund or the holder.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The average liquidation preference of MFP Shares outstanding and annualized dividend rate for the Funds during the current fiscal period were as follows:&#160;</p>

<table id="z96fd509c8b3d456b96063ac0a235d8b6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>**</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Average liquidation preference of MFP Shares outstanding</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">405,400,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">213,370,166</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Annualized dividend rate</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.02</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.04</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z17d6e04b2f3b4d2c8baf26ab9348fe54" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">**</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">For the period January 29, 2018 (first issuance of shares) through April 30,2018.</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">140</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Variable Rate MuniFund Term Preferred Shares</i><br>
 The Funds have issued and have outstanding Variable Rate MuniFund Term Preferred (&#8220;VMTP&#8221;) Shares, with a $100,000 liquidation preference per share. VMTP Shares are issued via private placement and are not publicly available.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">On January 29, 2018, NVG redeemed all of its outstanding Series 2018 VMTP Shares and on February 26, 2018, NMZ redeemed all of its outstanding Series 2018 VMTP Shares. Each Fund&#8217;s VMTP Shares were redeemed at their $100,000 liquidation value per share, plus dividend amounts owed, using proceeds from its issuance of MFP Shares (as described above in MuniFund Preferred Shares).</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, NZF had $335,980,501 VMTP Shares outstanding, at liquidation preference, net of deferred offering costs. Further details of NVG&#8217;s VMTP Shares outstanding as of the end of the reporting period, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z19a6633650344407b809062e14364024" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 60%"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b><br>
<b>Outstanding</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Liquidation</b><br>
<b>Preference</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,360</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">336,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Fund is obligated to redeem its VMTP Shares by the date as specified in its offering document (&#8220;Term Redemption Date&#8221;), unless earlier redeemed by the Fund. VMTP Shares are subject to optional and mandatory redemption in certain circumstances. The VMTP Shares may be redeemed at the option of the Fund, subject to payment of premium for approximately one year following the date of issuance (&#8220;Premium Expiration Date&#8221;), and at the redemption price per share thereafter. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends. The Fund may be obligated to redeem a certain amount of the VMTP Shares if the Fund fails to maintain certain asset coverage and leverage ratio requirements and such failures are not cured by the applicable cure date. The Term Redemption Date and Premium Expiration Date for the Fund&#8217;s VMTP Shares are as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z0f1430f3e03743a1b18f59e8d1e3372e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 60%"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Term</b><br>
<b>Redemption Date</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Premium</b><br>
<b>Expiration Date</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">July 1, 2019</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">May 31, 2017</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The average liquidation preference of VMTP Shares outstanding and annualized dividend rate for each Fund during the current fiscal period were as follows:</p>

<table id="zf7f6fe587e0c4ea293702e4801c29ba0" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>*</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>**</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Average liquidation preference of VMTP Shares outstanding</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">240,400,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">336,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Annualized dividend rate</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.09</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.29</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.03</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z1b45754dfcdd4a1f857b8a344aa6a163" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">For the period November 1, 2017 through January 28, 2018.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">**</td>
<td style="FONT-FAMILY: Arial">For the period November 1, 2017 through February 25, 2018.</td>
</tr>
</table>

<p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">VMTP Shares are subject to restrictions on transfer, generally do not trade, and market quotations are generally not available. VMTP Shares are short-term or short/intermediate-term instruments that pay a variable dividend rate tied to a short-term index, plus an additional fixed &#8220;spread&#8221; amount established at the time of issuance. The fair value of VMTP Shares is expected to be approximately their liquidation preference so long as the fixed &#8220;spread&#8221; on the VMTP Shares remains roughly in line with the &#8220;spread&#8221; being demanded by investors on instruments having similar terms in the current market environment. In present market conditions, the Funds&#8217; Adviser has determined that fair value of VMTP Shares is approximately their liquidation preference, but their fair value could vary if market conditions change materially. For financial reporting purposes, the liquidation preference of VMTP Shares is a liability and is recognized as a component of &#8220;Variable Rate MuniFund Term Preferred (&#8220;VMTP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Dividends on the VMTP shares (which are treated as interest payments for financial reporting purposes) are set weekly. Unpaid dividends on VMTP Shares are recognized as a component of &#8220;Interest payable&#8221; on the Statement of Assets and Liabilities. Dividends accrued on VMTP Shares are recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Costs incurred in connection with each Fund&#8217;s offering of VMTP Shares were recorded as deferred charges, which are amortized over the life of the shares and are recognized as components of &#8220;Variable Rate MuniFund Term Preferred (&#8220;VMTP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">In conjunction with NVG&#8217;s and NMZ&#8217;s redemption of VMTP Shares, the remaining deferred cost of $6,931 and $6,482, respectively, were fully expensed during the current fiscal period, as the redemptions were deemed an extinguishment of debt.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">141</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Variable Rate Demand Preferred Shares</i><br>
 The following Funds have issued and have outstanding Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, with a $100,000 liquidation preference per share. VRDP Shares are issued via private placement and are not publicly available.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of the end of the reporting period, NVG and NZF had $1,407,633,477 and $721,949,584 VRDP Shares at liquidation preference, net of deferred offering costs, respectively. Further details of the Funds&#8217; VRDP Shares outstanding as of the end of the reporting period, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z34e2213d973c4349af80bcc40a84c93d" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 42%"><b>Fund</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b><br>
<b>Outstanding</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Liquidation</b><br>
<b>Preference</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 15%"><b>Maturity</b></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,790</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">179,000,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">December 1, 2043</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,854</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">385,400,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">December 1, 2040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">4</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,800</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">180,000,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">June 1, 2046</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,405</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">340,500,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">December 1, 2040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">6</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3,267</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">326,700,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">December 1, 2040</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,688</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">268,800,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">March 1, 2040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">2,622</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">262,200,000</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">March 1, 2040</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,960</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">196,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">June 1, 2040</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">VRDP Shares include a liquidity feature that allows VRDP shareholders to have their shares purchased by a liquidity provider with whom each Fund has contracted in the event that the VRDP Shares are not able to be successfully remarketed. Each Fund is required to redeem any VRDP Shares that are still owned by the liquidity provider after six months of continuous, unsuccessful remarketing. Each Fund pays an annual remarketing fee of 0.10% on the aggregate principal amount of all VRDP Shares outstanding. Each Fund&#8217;s VRDP Shares have successfully remarketed since issuance.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">NVG&#8217;s Series 1 and Series 4 VRDP Shares are considered to be Special Rate Period VRDP, which are sold to institutional investors. During the special rate period, the VRDP Shares will not be remarketed by a remarketing agent, be subject to optional or mandatory tender events, or be supported by a liquidity provider. During the special rate period, VRDP dividends will be set monthly as a floating rate based on the predetermined formula. Following the initial special rate period, Special Rate Period VRDP Shares will transition to traditional VRDP Shares with dividends set at weekly remarketings, and be supported by a designated liquidity provider, unless the Board approves a subsequent special rate period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current fiscal period, NZF designated a special rate period until November 7, 2018, for the Fund&#8217;s Series 1 and 2 VRDP Shares. In connection with the transition to the special rate period, the series of VRDP Shares have been remarketed and sold to an institutional investor. During the special rate period, the VRDP Shares will not be remarketed by a remarketing agent, be subject to optional or mandatory tender events, or be supported by a liquidity provider. During the period, VRDP dividends will be set monthly as a floating rate based on the predetermined formula. Following the initial special rate period, Special Rate Period VRDP Shares will transition to traditional VRDP Shares with dividends set at weekly remarketings, and be supported by designated liquidity provider, unless the Board approves a subsequent special rate period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Dividends on the VRDP Shares (which are treated as interest payments for financial reporting purposes) are set at a rate established by a remarketing agent; therefore, the market value of the VRDP Shares is expected to approximate its liquidation preference. In the event that VRDP Shares are unable to be successfully remarketed, the dividend rate will be the maximum rate which is designed to escalate according to a specified schedule in order to enhance the remarketing agent&#8217;s ability to successfully remarket the VRDP Shares.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Subject to certain conditions, VRDP Shares may be redeemed, in whole or in part, at any time at the option of each Fund. Each Fund may also redeem certain of the VRDP Shares if the Fund fails to maintain certain asset coverage requirements and such failures are not cured by the applicable cure date. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The average liquidation preference of VRDP Shares outstanding and annualized dividend rate for each Fund during the current fiscal period were as follows:</p>

<table id="z0d98e35efbf44e239d8716f822b99f03" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Average liquidation preference of VRDP Shares outstanding</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,411,600,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">727,000,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Annualized dividend rate</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.58</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1.79</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For financial reporting purposes, the liquidation preference of VRDP Shares is a liability and is recognized as a component of &#8220;Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities. Unpaid dividends on VRDP Shares are recognized as a component of &#8220;Interest payable&#8221; on the Statement of Assets and Liabilities, when applicable. Dividends accrued on VRDP Shares are recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations. Costs incurred by the Funds in connection with their offerings of VRDP Shares were recorded as a deferred charge, which are amortized over the life of the shares and are recognized as a component of &#8220;Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of offerings costs&#8221; on the Statement of Operations. In addition to interest expense, each Fund also pays a per annum liquidity fee to the liquidity provider, as well as a remarketing fee, which are recognized as &#8220;Liquidity fees&#8221; and &#8220;Remarketing fees,&#8221; respectively, on the Statement of Operations.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">142</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"></p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Preferred Share Transactions</i><br>
 Transactions in preferred shares for the Funds during the Funds&#8217; current and prior fiscal period, where applicable, are noted in the following tables.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Transactions in AMTP Shares for the Funds, where applicable, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zaed1735be50245cfb32eb1865552259c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>Six Months Ended</b><br>
<b>April 30, 2018</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">AMTP Shares issued</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">870</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">87,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Transactions in iMTP Shares for the Funds, where applicable, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="z290edea7dd36467caa42e386a3dc8e3b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"><b>Year Ended</b><br>
<b>October 31, 2017</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">iMTP Shares redeemed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2017</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(30,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(150,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Transactions in MFP Shares for the Funds, where applicable, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6b11d44b584943f6a53d1fbe3114ea2c" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center" colspan="9"><b>Six Months Ended</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>April 30, 2018</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">MFP Shares issued</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,054</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">405,400,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zeda193d8645049208ff991997e5eb73f" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td colspan="8">
<p style="TEXT-ALIGN: center; FONT: bold 10pt Arial; MARGIN: 0px">Six Months Ended</p>
</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="8"><b>April 30, 2018</b></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">MFP Shares issued</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">B</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,550</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">155,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Transactions in MFP Shares for the Funds, where applicable, were as follows:&#160;</p>

<table id="zae9c0fbc21ce4dbda7b5914a2c989499" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center" colspan="9"><b>Year Ended</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>October 31, 2017</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">MFP Shares issued</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">A</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,500</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">150,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Transactions in VMTP Shares for the Funds, where applicable, were as follows:&#160;</p>

<table id="z76c58330aab645f38c3165f87fc918a8" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center" colspan="9"><b>Six Months Ended</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>April 30, 2018</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">VMTP Shares redeemed</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2018</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(2,404</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(240,400,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zb48dc0993bac474b96ba86f1a4ccf9d7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center" colspan="9"><b>Six Months Ended</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>April 30, 2018</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">VMTP Shares exchanged</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2018</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(870</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">(87,000,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">)</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Transactions in VRDP Shares for the Funds, where applicable, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zf7412126854c43cab5ab37ade18c350b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center" colspan="9"><b>Year Ended</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="9"><b>October 31, 2017</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Series</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Shares</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>Amount</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">VRDP Shares issued</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">5</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,405</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">340,500,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">6</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">3,267</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">326,700,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">VRDP Shares exchanged</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(6,672</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(667,200,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Net increase (decrease)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right"></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid"></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">143</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>5. Investment Transactions</b><br>
 Long-term purchases and sales (including maturities but excluding derivative transactions, where applicable) during the current fiscal period were as follows:</p>

<table id="z7f140b7f736146e0bcc98f5b5ad191e2" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Purchases</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">419,742,535</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">479,529,894</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">122,667,574</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Sales and maturities</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">254,401,736</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">359,148,797</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">57,766,998</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>6. Income Tax Information</b><br>
 Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. Furthermore, each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the NAVs of the Funds.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The tables below present the cost and unrealized appreciation (depreciation) of each Fund&#8217;s investment portfolio, as determined on a federal income tax basis, as of April 30, 2018.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in value of those derivatives have generally been fully realized for tax purposes.</p>

<table id="za81ba5117d84481185920de05c67ae73" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Tax cost of investments</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">4,637,400,128</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">3,295,562,512</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">878,675,682</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Gross unrealized:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; PADDING-LEFT: 10pt">Appreciation</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">343,102,442</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">256,816,367</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">78,583,104</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 10pt">Depreciation</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(24,281,499</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(35,783,334</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">(50,335,607</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Net unrealized appreciation (depreciation) of investments</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">318,820,943</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">221,033,033</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">28,247,497</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Tax cost of swaps</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,017</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Net unrealized appreciation (depreciation) of swaps</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">6,232,777</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Permanent differences, primarily due to federal taxes paid, nondeductible offering costs, nondeductible reorganization expenses, taxable market discount, distribution reallocations, and expiration of capital loss carryforwards, resulted in reclassifications among the Funds&#8217; components of common share net assets as of October 31, 2017, the Funds&#8217; last tax year end, as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd62c75bbaafb4027a5ade4d8c3767212" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Paid-in-surplus</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(592,189</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(483,872</td>
<td style="FONT-FAMILY: Arial">)</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(30,940,085</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Undistributed (Over-distribution of) net investment income</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">469,433</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">113,435</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">(13,567</td>
<td style="FONT-FAMILY: Arial">)</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Accumulated net realized gain (loss)</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">122,756</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">370,437</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">30,953,652</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">144</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of October 31, 2017, the Funds&#8217; last tax year end, were as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z2ad80b41c09c41a69c72a81cc9555df1" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Undistributed net tax-exempt income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1</sup></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">9,073,422</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">7,707,977</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,041,123</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Undistributed net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,319,977</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,543,414</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">594,321</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Undistributed net long-term capital gains</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z40d10a5ac5c14d4abf55a8320ab3e7d4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">1</sup></td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on October 2, 2017, and paid on November 1, 2017.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></td>
<td style="FONT-FAMILY: Arial">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The tax character of distributions paid during the Funds&#8217; last tax year ended October 31, 2017, was designated for purposes of the dividends paid deduction as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6a665704ac6c48a888adafcb8d595724" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Distributions from net tax-exempt income</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">197,183,447</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">141,959,988</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">49,678,186</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">Distributions from net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">231,498</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">286,558</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">306,114</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Distributions from net long-term capital gains</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">5,905,855</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">255,176</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zd2295787a7424960bb092f6907c996f4" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">2</sup></td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of October 31, 2017, the Funds&#8217; last tax year end, the Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as shown in the following table. The losses not subject to expiration will be utilized first by a Fund.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z8d0932928028432c9067104b6b7473fe" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 60%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 2%"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">3</sup></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 1%"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">3</sup></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Expiration:</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; PADDING-TOP: 2pt; PADDING-LEFT: 17.3pt; TEXT-INDENT: -8.65pt">October 31, 2018</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">1,362,739</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">Not subject to expiration</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">11,069,711</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">24,481,773</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Total</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">11,069,711</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">24,481,773</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">1,362,739</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z6b29066d4d3a48b7af42c426e532beed" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-SIZE: smaller; VERTICAL-ALIGN: text-top; LINE-HEIGHT: 1">3</sup></td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">A portion of NZF&#8217;s and NMZ&#8217;s capital loss carryforward is subject to an annual limitation under the Internal Revenue Code and related regulations.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">As of October 31, 2017, the Funds&#8217; last tax year end, the following Funds&#8217; capital loss carryforwards expired as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="zbaeb21f2c150459d918e6909fa10d9ff" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Expired capital loss carryforwards</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">322,087</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">30,734,989</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the Funds&#8217; last tax year ended October 31, 2017, the following Funds utilized capital loss carryforwards as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z308f80561ecf4318a3af63aac7e5acec" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NMZ</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Utilized capital loss carryforwards</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">624,345</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">4,671,028</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">7. Management Fees and Other Transactions with Affiliates</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Management Fees</i><br>
 Each Fund&#8217;s management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund&#8217;s management fee consists of two components &#8211; a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables Fund shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">145</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued)</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The annual fund-level fee, payable monthly, for each Fund is calculated according to the following schedules:</p>

<table id="z0fe4f86ba04c4c668216626b38ecec6e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 81%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>NVG</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>NZF</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Average Daily Managed Assets*</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right" colspan="2"><b>Fund-Level Fee Rate</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">For the first $125 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.5000</td>
<td style="FONT-FAMILY: Arial">%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">For the next $125 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4875</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">For the next $250 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">For the next $500 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4625</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">For the next $1 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4500</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">For the next $3 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">For managed assets over $5 billion</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.4125</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 0px">&#160;</p>

<table id="zfeed2b23ecf94914b0b5bcfa497904c7" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 81%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 15%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right" colspan="2"><b>NMZ</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Average Daily Managed Assets*</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right" colspan="2"><b>Fund-Level Fee Rate</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">For the first $125 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.5500</td>
<td style="FONT-FAMILY: Arial">%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">For the next $125 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.5375</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">For the next $250 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.5250</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">For the next $500 million</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.5125</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">For the next $1 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.5000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">For the next $3 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.4750</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">For managed assets over $5 billion</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.4625</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The annual complex-level fee, payable monthly, for each Fund is calculated by multiplying the current complex-wide fee rate, determined according to the following schedule by the Fund&#8217;s daily managed assets:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z649e4d9e49634095adc8ecca4a29811a" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Complex-Level Eligible Asset Breakpoint Level*</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right" colspan="3"><b>Effective Complex-Level Fee Rate at Breakpoint Level</b></td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; WIDTH: 50%">$55 billion</td>
<td style="FONT-FAMILY: Arial; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right; WIDTH: 46%">0.2000</td>
<td style="FONT-FAMILY: Arial; WIDTH: 1%">%</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$56 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1996</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$57 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1989</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$60 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1961</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$63 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1931</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$66 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1900</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$71 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1851</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$76 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1806</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$80 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1773</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$91 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1691</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$125 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1599</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial">$200 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1505</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">$250 billion</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">0.1469</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$300 billion</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">0.1445</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z22f5d979cfb94885bfc911a70cdf774e" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 5%">*</td>
<td style="FONT-FAMILY: Arial; WIDTH: 95%">For the complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the funds&#8217; use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust&#8217;s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen open-end and closed-end funds that constitute &#8220;eligible assets.&#8221; Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of a determined amount (originally $2 billion) added to the Nuveen fund complex in connection with the Adviser&#8217;s assumption of the management of the former First American Funds effective January 1, 2011. As of April 30, 2018, the complex-level fee for each Fund was 0.1595%.</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Other Transactions with Affiliates</i><br>
 Each Fund is permitted to purchase or sell securities from or to certain other funds managed by the Adviser (&#8220;inter-fund trade&#8221;) under specified conditions outlined in procedures adopted by the Board. These procedures have been designed to ensure that any inter-fund trade of securities by the Fund from or to another fund that is, or could be, considered an affiliate of the Fund under certain limited circumstances by virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7 of the 1940 Act. Further, as defined under these procedures, each inter-fund trade is effected at the current market price as provided by an independent pricing service. Unsettled</p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">146</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">inter-fund trades as of the end of the reporting period are recognized as a component of &#8220;Receivable for investments sold&#8221; and/or &#8220;Payable for investments purchased&#8221; on the Statement of Assets and Liabilities, when applicable.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current fiscal period, the following Fund engaged in inter-fund trades pursuant to these procedures as follows:</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<table id="z46692a2dad7d4a72b7f1cc9f6e7c6bad" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 86%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Inter-Fund Trades</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Purchases</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">37,045,331</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Sales</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">38,218,714</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">8. Borrowing Arrangements</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Committed Line of Credit</i><br>
 The Funds, along with certain other funds managed by the Adviser (&#8220;Participating Funds&#8221;), have established a 364-day, approximately $3 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for various purposes other than leveraging for investment purposes. A large portion of this facility&#8217;s capacity (and its associated costs as described below) is currently dedicated for use by a small number of Participating Funds, which does not include any of the Funds covered by this shareholder report. The remaining capacity under the facility (and the corresponding portion of the facility&#8217;s annual costs) is separately dedicated to most of the other open-end funds in the Nuveen fund family, along with a number of Nuveen closed-end funds, including all of the Funds covered by this shareholder report. The credit facility expires in July 2018 unless extended or renewed.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The credit facility has the following terms: a fee of 0.15% per annum on unused commitment amounts, and interest at a rate equal to the higher of (a) one-month LIBOR (London Inter-Bank Offered Rate) plus 1.00% per annum or (b) the Fed Funds rate plus 1.00% per annum on amounts borrowed. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of &#8220;Other expenses&#8221; on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility&#8217;s aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each Participating Fund.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current fiscal period, the following Funds utilized this facility. The Fund&#8217;s maximum outstanding balance during the utilization period was as follows:&#160;</p>

<table id="zc8c92b85b4824c1fa863abcd590ec09b" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Maximum Outstanding Balance</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">42,557,485</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">$</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">78,500,000</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the Fund&#8217;s utilization period, during the current fiscal period, the average daily balance outstanding and average annual interest rate on the Borrowings were as follows:</p>

<table id="zb7102209c9dc48f287163443bd98d3d6" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; WIDTH: 73%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 2%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 10%">&#160;</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: center; WIDTH: 1%">&#160;</td>
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<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial">Average daily balance outstanding</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">14,600,000</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">$</td>
<td style="FONT-FAMILY: Arial; TEXT-ALIGN: right">13,215,152</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Average annual interest rate</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.46</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">2.31</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">%</td>
</tr>
</table>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Borrowings outstanding as of the end of the reporting period are recognized as &#8220;Borrowings&#8221; on the Statement of Assets and Liabilities, where applicable. NMZ did not utilize this facility during the current fiscal period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>Inter-Fund Borrowing and Lending</i><br>
 The SEC has granted an exemptive order permitting registered open-end and closed-end Nuveen funds to participate in an inter-fund lending facility whereby the Nuveen funds may directly lend to and borrow money from each other for temporary purposes (e.g., to satisfy redemption requests or when a sale of securities &#8220;fails,&#8221; resulting in an unanticipated cash shortfall) (the &#8220;Inter-Fund Program&#8221;). The closed-end Nuveen funds, including the Funds covered by this shareholder report, will participate only as lenders, and not as borrowers, in the Inter-Fund Program because such closed-end funds rarely, if ever, need to borrow cash to meet redemptions. The Inter-Fund Program is subject to a number of conditions, including, among other things, the requirements that (1) no fund may borrow or lend money through the Inter-Fund Program unless it receives a more favorable interest rate than is typically available from a bank or other financial institution for a comparable transaction; (2) no fund may borrow on an unsecured basis through the Inter-Fund Program unless the fund&#8217;s outstanding borrowings from all sources immediately after the inter-fund borrowing total 10% or less of its total assets; provided that if the borrowing fund has a secured borrowing outstanding from any other lender, including but not limited to another fund, the inter-fund loan must be secured on at least an equal priority basis with at least an equivalent percentage of collateral to loan value; (3) if a fund&#8217;s total outstanding borrowings immediately after an inter-fund borrowing would be greater than 10% of its total assets, the fund may borrow through the inter-fund loan on a secured basis only; (4) no fund may lend money if the loan would cause its aggregate outstanding loans through the Inter-Fund Program to exceed 15% of its net assets at the time of the loan; (5) a fund&#8217;s inter-fund loans to any one fund shall not exceed 5% of the lending fund&#8217;s</p>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">147</div>

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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Notes to Financial Statements (Unaudited) (continued) </p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">net assets; (6) the duration of inter-fund loans will be limited to the time required to receive payment for securities sold, but in no event more than seven days; and (7) each inter-fund loan may be called on one business day&#8217;s notice by a lending fund and may be repaid on any day by a borrowing fund. In addition, a Nuveen fund may participate in the Inter-Fund Program only if and to the extent that such participation is consistent with the fund&#8217;s investment objective and investment policies. The Board is responsible for overseeing the Inter-Fund Program.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The limitations detailed above and the other conditions of the SEC exemptive order permitting the Inter-Fund Program are designed to minimize the risks associated with Inter-Fund Program for both the lending fund and the borrowing fund. However, no borrowing or lending activity is without risk. When a fund borrows money from another fund, there is a risk that the loan could be called on one day&#8217;s notice or not renewed, in which case the fund may have to borrow from a bank at a higher rate or take other actions to payoff such loan if an inter-fund loan is not available from another fund. Any delay in repayment to a lending fund could result in a lost investment opportunity or additional borrowing costs.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">During the current reporting period, none of the Funds covered by this shareholder report have entered into any inter-fund loan activity.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">9. New Accounting Pronouncements</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>FASB Accounting Standards Update (&#8220;ASU&#8221;) 2017-08 (&#8220;ASU 2017-08&#8221;) Premium Amortization on Purchased Callable Debt Securities</i><br>
 The FASB has issued ASU 2017-08, which shortens the premium amortization period for purchased non-contingently callable debt securities. ASU 2017-08 specifies that the premium amortization period ends at the earliest call date, for purchased non-contingently callable debt securities. ASU 2017-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the implications of ASU 2017-08, if any.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>FASB ASU 2016-18: Statement of Cash Flows &#8211; Restricted Cash (&#8220;ASU 2016-18&#8221;) </i><br>
 The FASB has issued ASU 2016-18, which will require entities to include the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the beginning and ending cash balances in the Statement of Cash Flows. The guidance will be applied retrospectively and is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. Management is currently evaluating the implications of ASU 2016-18, if any.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">10. Subsequent Events</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>VRDP Shares</i><br>
 On June 21, 2018, NVG&#8217;s Series 4 VRDP Shares transitioned out of the special rate period.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><i>VMTP and MFP Shares</i><br>
 On June 28, 2018, NZF redeemed all of its outstanding Series 2019 VMTP Shares at their $100,000 liquidation value per share, plus dividend amounts owed, with the $336,000,000 of proceeds from newly issued Series C MFP Shares.</p>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: left">148</div>

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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Additional Fund Information</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 19%"><b>Board of Trustees</b></td>
<td style="FONT-FAMILY: Arial; WIDTH: 16%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 14%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 14%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 12%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 25%">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">Margo Cook*</td>
<td style="FONT-FAMILY: Arial">Jack B. Evans</td>
<td style="FONT-FAMILY: Arial">William C. Hunter</td>
<td style="FONT-FAMILY: Arial">Albin F. Moschner</td>
<td style="FONT-FAMILY: Arial">John K. Nelson</td>
<td style="FONT-FAMILY: Arial">William J. Schneider</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">Judith M. Stockdale</td>
<td style="FONT-FAMILY: Arial">Carole E. Stone</td>
<td style="FONT-FAMILY: Arial">Terence J. Toth</td>
<td style="FONT-FAMILY: Arial">Margaret L. Wolff</td>
<td style="FONT-FAMILY: Arial">Robert L. Young</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">* Interested Board Member.</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>
</table>

<p style="MARGIN: 0px">&#160;</p>

<table id="zc8ca94f33e4c4508a1d3875c748dd634" style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial"><b>Fund Manager</b></td>
<td style="FONT-FAMILY: Arial"><b>Custodian</b></td>
<td style="FONT-FAMILY: Arial"><b>Legal Counsel</b></td>
<td style="FONT-FAMILY: Arial" colspan="2"><b>Independent Registered</b></td>
<td style="FONT-FAMILY: Arial"><b>Transfer Agent and</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">Nuveen Fund Advisors, LLC</td>
<td style="FONT-FAMILY: Arial">State Street Bank</td>
<td style="FONT-FAMILY: Arial">Chapman and Cutler LLP</td>
<td style="FONT-FAMILY: Arial" colspan="2"><b>Public Accounting Firm</b></td>
<td style="FONT-FAMILY: Arial"><b>Shareholder Services</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 19%">333 West Wacker Drive</td>
<td style="FONT-FAMILY: Arial; WIDTH: 16%">and Trust Company</td>
<td style="FONT-FAMILY: Arial; WIDTH: 16%">Chicago, IL 60603</td>
<td style="FONT-FAMILY: Arial; WIDTH: 15%">KPMG LLP</td>
<td style="FONT-FAMILY: Arial; WIDTH: 9%">&#160;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 25%">ComputerShare Trust</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">Chicago, IL 60606</td>
<td style="FONT-FAMILY: Arial">One Lincoln Street</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">200 East</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Company, N.A.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Boston, MA 02111</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Randolph Street</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">250 Royall Street</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Chicago, IL 60601</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">Canton, MA 02021</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">(800) 257-8787</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid">&#160;</td>
</tr>
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<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Quarterly Form N-Q Portfolio of Investments Information</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. You may obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov or in person at the SEC&#8217;s Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC-0330 for room hours and operation.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Nuveen Funds&#8217; Proxy Voting Information</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen toll-free at (800) 257-8787 or on Nuveen&#8217;s website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen toll free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov.</p>

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<tr style="VERTICAL-ALIGN: top">
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 19%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 16%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 16%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 15%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 9%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 25%">&#160;</td>
</tr>
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<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">CEO Certification Disclosure</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund&#8217;s Chief Executive Officer (CEO) has submitted to the New York Stock Exchange (NYSE) the annual CEO certification as required by Section 303A.12(a) of the NYSE Listed Company Manual. Each Fund has filed with the SEC the certification of its CEO and Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act.</p>

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<tr style="VERTICAL-ALIGN: top">
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 19%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 16%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 16%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 15%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 9%">&#160;</td>
<td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 25%">&#160;</td>
</tr>
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<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Common Share Repurchases</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Each Fund intends to repurchase, through its open-market share repurchase program, shares of its own common stock at such times and in such amounts as is deemed advisable. During the period covered by this report, each Fund repurchased shares of its common stock as shown in the accompanying table. Any future repurchases will be reported to shareholders in the next annual or semi-annual report.</p>

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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; WIDTH: 49%">&#160;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 32%"><b>NVG</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 9%"><b>NZF</b></td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"><b>NMZ</b></td>
</tr>

<tr style="VERTICAL-ALIGN: top; BACKGROUND-COLOR: rgb(204,238,255)">
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid">Common shares repurchased</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1.5pt solid; TEXT-ALIGN: right">&#8212;</td>
</tr>
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<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">FINRA BrokerCheck</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The Financial Industry Regulatory Authority (FINRA) provides information regarding the disciplinary history of FINRA member firms and associated investment professionals. This information as well as an investor brochure describing FINRA BrokerCheck is available to the public by calling the FINRA BrokerCheck Hotline number at (800) 289-9999 or by visiting www.FINRA.org.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"></p>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial'; TEXT-ALIGN: right">149</div>

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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: bold 18pt Arial; MARGIN: 8pt 0px 0px">Glossary of Terms Used in this Report</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

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<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial; WIDTH: 3%">&#9632;</td>
<td style="FONT-FAMILY: Arial; WIDTH: 97%"><b>Auction Rate Bond: </b>An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have &#8220;failed,&#8221; with current holders receiving a formula-based interest rate until the next scheduled auction.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#9632;</td>
<td style="FONT-FAMILY: Arial"><b>Average Annual Total Return: </b>This is a commonly used method to express an investment&#8217;s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment&#8217;s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#160;</td>
<td style="FONT-FAMILY: Arial">&#160;</td>
</tr>

<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Arial">&#9632;</td>
<td style="FONT-FAMILY: Arial"><b>Duration: </b>Duration is a measure of the expected period over which a bond&#8217;s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond&#8217;s or bond fund&#8217;s value to changes when market interest rates change. Generally, the longer a bond&#8217;s or fund&#8217;s duration, the more the price of the bond or fund will change as interest rates change.</td>
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<td style="FONT-FAMILY: Arial"><b>Effective Leverage: </b>Effective leverage is a fund&#8217;s effective economic leverage, and includes both regulatory leverage (see leverage) and the leverage effects of certain derivative investments in the fund&#8217;s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage.</td>
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<td style="FONT-FAMILY: Arial"><b>Forward Interest Rate Swap: </b>A contractual agreement between two counterparties under which one party agrees to make periodic payments to the other for an agreed period of time based on a fixed rate, while the other party agrees to make periodic payments based on a floating rate of interest based on an underlying index. Alternatively, both series of cash flows to be exchanged could be calculated using floating rates of interest but floating rates that are based upon different underlying indexes.</td>
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<td style="FONT-FAMILY: Arial"><b>Industrial Development Revenue Bond (IDR): </b>A unique type of revenue bond issued by a state or local government agency on behalf of a private sector company and intended to build or acquire factories or other heavy equipment and tools.</td>
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<td style="FONT-FAMILY: Arial"><b>Inverse Floating Rate Securities: </b>Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond&#8217;s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an &#8220;inverse floater&#8221;) to an investor (such as a fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates&#8217; holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond&#8217;s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond&#8217;s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.</td>
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<td style="FONT-FAMILY: Arial"><b>Leverage: </b>Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.</td>
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<td style="FONT-FAMILY: Arial"><b>NVG and NZF Custom Blended Fund Performance Benchmark: </b>The Fund Performance Benchmark is an unleveraged index consisting of the returns of the S&amp;P Municipal Bond Index prior to 4/11/16 and thereafter the returns of an 60%/40% blend of the S&amp;P Municipal Bond Investment Grade Index and the S&amp;P Municipal Bond High Yield Index, respectively. The S&amp;P Municipal Bond Index is an unmanaged, market value-weighted index designed to measure the performance of tax-exempt municipal bonds. The</td>
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<td style="FONT-FAMILY: Arial; WIDTH: 97%">S&amp;P Municipal Bond Investment Grade Index is an unmanaged, market value-weighted index designed to measure the performance of tax-exempt municipal bonds rated investment grade by Standard &amp; Poor&#8217;s, Moody&#8217;s and/or Fitch. The S&amp;P Municipal Bond High Yield Index is an unmanaged, market value-weighted index designed to measure the performance of the tax-exempt, high yield municipal bonds. Index returns assume compounding and do not include the effects of any fees or expenses.</td>
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<td style="FONT-FAMILY: Arial"><b>Net Asset Value (NAV) Per Share: </b>A fund&#8217;s Net Assets is equal to its total assets (securities, cash, accrued earnings and receivables) less its total liabilities. NAV per share is equal to the fund&#8217;s Net Assets divided by its number of shares outstanding.</td>
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<td style="FONT-FAMILY: Arial"><b>Pre-Refunding: </b>Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond&#8217;s credit rating and thus its value.</td>
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<td style="FONT-FAMILY: Arial"><b>Regulatory Leverage: </b>Regulatory leverage consists of preferred shares issued by or borrowings of a fund. Both of these are part of a fund&#8217;s capital structure. Regulatory leverage is subject to asset coverage limits set in the Investment Company Act of 1940.</td>
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<td style="FONT-FAMILY: Arial"><b>S&amp;P Municipal Bond High Yield Index: </b>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment grade U.S. high yield municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.</td>
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<td style="FONT-FAMILY: Arial"><b>S&amp;P Municipal Bond Index: </b>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.</td>
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<td style="FONT-FAMILY: Arial"><b>The S&amp;P Municipal Yield Index: </b>An unleveraged, market value-weighted index containing all bonds in the S&amp;P Municipal Bond Index that are non-rated bonds or whose ratings are BB+ by S&amp;P and BA-1 by Moody&#8217;s Investors Service, Inc. or lower. This index does not contain bonds that are pre-refunded or escrowed to maturity. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or fees.</td>
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<td style="FONT-FAMILY: Arial"><b>Total Investment Exposure: </b>Total investment exposure is a fund&#8217;s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund&#8217;s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust&#8217;s issuance of floating rate securities.</td>
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<td style="FONT-FAMILY: Arial"><b>Zero Coupon Bond: </b>A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.</td>
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<td style="FONT-SIZE: 18pt; FONT-FAMILY: Arial; WIDTH: 100%"><b>Reinvest Automatically, Easily and Conveniently</b></td>
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<td style="FONT-FAMILY: Arial; BORDER-BOTTOM: black 1pt solid"><b>Nuveen makes reinvesting easy. A phone call is all it takes to set up your reinvestment account.</b></td>
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<td style="FONT-FAMILY: Arial"><b>Nuveen Closed-End Funds Automatic Reinvestment Plan </b></td>
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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Nuveen Closed-End Fund allows you to conveniently reinvest distributions in additional Fund shares. By choosing to reinvest, you&#8217;ll be able to invest money regularly and automatically, and watch your investment grow through the power of compounding. Just like distributions in cash, there may be times when income or capital gains taxes may be payable on distributions that are reinvested. It is important to note that an automatic reinvestment plan does not ensure a profit, nor does it protect you against loss in a declining market.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Easy and convenient </p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">To make recordkeeping easy and convenient, each month you&#8217;ll receive a statement showing your total distributions, the date of investment, the shares acquired and the price per share, and the total number of shares you own.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">How shares are purchased</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">The shares you acquire by reinvesting will either be purchased on the open market or newly issued by the Fund. If the shares are trading at or above net asset value at the time of valuation, the Fund will issue new shares at the greater of the net asset value or 95% of the then-current market price. If the shares are trading at less than net as -set value, shares for your account will be purchased on the open market. If the Plan Agent begins purchasing Fund shares on the open market while shares are trading below net asset value, but the Fund&#8217;s shares subsequently trade at or above their net asset value before the Plan Agent is able to complete its purchases, the Plan Agent may cease open-market purchases and may invest the uninvested portion of the distribution in newly-issued Fund shares at a price equal to the greater of the shares&#8217; net asset value or 95% of the shares&#8217; market value on the last business day imme -diately prior to the purchase date. Distributions received to purchase shares in the open market will normally be invested shortly after the distribution payment date. No interest will be paid on distributions awaiting reinvestment. Because the market price of the shares may increase before purchases are completed, the average purchase price per share may exceed the market price at the time of valuation, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund. A pro rata portion of any applicable brokerage commissions on open market purchases will be paid by Plan participants. These commissions usually will be lower than those charged on individual transactions.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Flexible</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">You may change your distribution option or withdraw from the Plan at any time, should your needs or situation change. You can reinvest whether your shares are registered in your name, or in the name of a brokerage firm, bank, or other nominee. Ask your investment advisor if his or her firm will participate on your behalf. Participants whose shares are registered in the name of one firm may not be able to transfer the shares to another firm and continue to participate in the Plan. The Fund reserves the right to amend or terminate the Plan at any time. Although the Fund reserves the right to amend the Plan to include a service charge payable by the participants, there is no direct service charge to participants in the Plan at this time.</p>

<p style="FONT: bold 10pt Arial; MARGIN: 8pt 0px 0px">Call today to start reinvesting distributions </p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">For more information on the Nuveen Automatic Reinvestment Plan or to enroll in or withdraw from the Plan, speak with your financial advisor or call us at (800) 257-8787.</p>

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<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">&#160;</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><img src="logo.jpg"></p>

<p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 8pt 0px 0px"></p>

<p style="FONT: bold 14pt Arial; MARGIN: 8pt 0px 0px">Nuveen:<br>
 Serving Investors for Generations</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Since 1898, financial advisors and their clients have relied on Nuveen to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality solutions designed to be integral components of a well-diversified core portfolio.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Focused on meeting investor needs.<br>
</b> Nuveen is the investment manager of TIAA. We have grown into one of the world&#8217;s premier global asset managers, with specialist knowledge across all major asset classes and particular strength in solutions that provide income for investors and that draw on our expertise in alternatives and responsible investing. Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources that a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create solutions which help them secure their financial future.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px"><b>Find out how we can help you.<br>
</b> To learn more about how the products and services of Nuveen may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money.</p>

<p style="FONT: 10pt Arial; MARGIN: 8pt 0px 0px">Learn more about Nuveen Funds at: <b>www.nuveen.com/closed-end-funds</b></p>

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<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: middle; TEXT-ALIGN: left; WIDTH: 60%">Distributed by Nuveen Securities, LLC | 333 West Wacker Drive Chicago, IL 60606 | www.nuveen.com</td>
<td style="TEXT-ALIGN: right; WIDTH: 20%">&#160;<img src="fsc.jpg"></td>
<td style="FONT-FAMILY: Arial; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 20%">ESA-C-0418D 527616-INV-B-06/19</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: block; TEXT-INDENT: 0pt">ITEM 2. CODE OF ETHICS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable to this filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable to this filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable to this filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable to this filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 6. SCHEDULE OF INVESTMENTS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(a) See Portfolio of Investments in Item 1.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(b) Not applicable.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable to this filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable to this filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Not applicable.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board implemented after the registrant last provided disclosure in response to this Item.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 11. CONTROLS AND PROCEDURES.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")(17 CFR 240.13a-15(b) or 240.15d-15(b)).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN: 0px 0pt 10px; DISPLAY: block; LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt">ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN: 0px 0pt; DISPLAY: block; LINE-HEIGHT: 14pt; TEXT-INDENT: 0pt">Not applicable.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ITEM 13. EXHIBITS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">File the exhibits listed below as part of this Form.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See Ex-99.CERT attached hereto.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the&#160;&#160;report by or on behalf of the registrant to 10 or more persons: Not applicable.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left">If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: See Ex-99.906 CERT attached hereto.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; DISPLAY: block; TEXT-INDENT: 0pt">SIGNATURES</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Registrant) <font style="TEXT-DECORATION: underline; DISPLAY: inline">Nuveen AMT-Free Municipal Credit Income Fund</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By (Signature and Title)<font style="FONT-SIZE: 10pt; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>&#160;<font style="FONT-FAMILY: 'Times New Roman'; DISPLAY: inline">/s/ Gifford R. Zimmerman</font></u></font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Gifford R. Zimmerman</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Vice President and Secretary</div>

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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">July 9, 2018</font></font><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Cedric H. Antosiewicz</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Cedric H. Antosiewicz</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">July 9, 2018</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ Stephen D. Foy</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Stephen D. Foy</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;(principal financial officer)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;<font style="TEXT-DECORATION: underline; DISPLAY: inline">July 9, 2018</font><br>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>ex99cert.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I, Cedric H. Antosiewicz, certify that:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I have reviewed this report on Form N-CSR of Nuveen AMT-Free Municipal Credit Income Fund;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(c)&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(d)&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(a)&#160;&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;July 9, 2018</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; TEXT-DECORATION: underline; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">/s/ Cedric H. Antosiewicz</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Cedric H. Antosiewicz</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I, Stephen D. Foy, certify that:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">I have reviewed this report on Form N-CSR of Nuveen AMT-Free Municipal Credit Income Fund;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;July 9, 2018</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Stephen D. Foy</div>

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<TYPE>EX-99.906 CERT
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Certification Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002; provided by the Chief Executive Officer and Chief Financial Officer, based on each such officer's knowledge and belief.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The undersigned officers of Nuveen AMT-Free Municipal Credit Income Fund (the &#8220;Fund&#8221;), certify that, to the best of each such officer's knowledge and belief:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The Form N-CSR of the Fund for the period ended&#160;April 30, 2018&#160;(the &#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date:&#160;July 9,&#160;2018</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(principal executive officer)</div>

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<DOCUMENT>
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end
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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>sign.jpg
<TEXT>
begin 644 sign.jpg
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end
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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>william.jpg
<TEXT>
begin 644 william.jpg
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
