EX-BLE


Security	Par (000)		Value
Municipal Bonds

Alabama — 2.2%
County of Jefferson Alabama Sewer Revenue, Refunding RB
Series A, Senior Lien, (AGM), 5.00%, 10/01/44	$	540	$	599,076
Series A, Senior Lien, (AGM), 5.25%, 10/01/48		1,320		1,469,701
Series D, Sub Lien, 7.00%, 10/01/51		3,220		3,831,350
Lower Alabama Gas District, RB, Series A, 5.00%, 09/01/46		1,170		1,741,580

				7,641,707

Arizona — 3.1%
Industrial Development Authority of the City of Phoenix, RB, Series A, 5.00%, 07/01/46^(a)		1,825		1,942,402
Salt Verde Financial Corp., RB
5.00%, 12/01/32		5,635		7,549,153
5.00%, 12/01/37		1,000		1,412,830

				10,904,385

Arkansas — 0.6%
Arkansas Development Finance Authority, RB, AMT, 4.50%, 09/01/49^(a)		1,920		2,023,507


California — 5.1%
California Educational Facilities Authority, RB, Series V-1, 5.00%, 05/01/49		2,315		3,849,729
California Health Facilities Financing Authority, Refunding RB
Series A, 5.00%, 07/01/33		1,365		1,520,787
Series A, 4.00%, 04/01/45		430		488,635
California Municipal Finance Authority, RB, S/F Housing
Series A, 5.25%, 08/15/39		160		177,563
Series A, 5.25%, 08/15/49		395		427,165
California Pollution Control Financing Authority, RB, Series A, AMT, 5.00%, 11/21/45^(a)		1,655		1,730,220
California State Public Works Board, RB, Series I, 5.00%, 11/01/38		825		926,599
Golden State Tobacco Securitization Corp., Refunding RB
Series A-1, 5.25%, 06/01/47		590		610,626
Series A-2, 5.00%, 06/01/47		3,195		3,295,643
San Marcos Unified School District, GO, CAB^(b)
Series B, 0.00%, 08/01/33		3,000		2,431,620
Series B, 0.00%, 08/01/43		2,500		1,546,425
State of California, GO, 6.00%, 03/01/33		425		425,068
Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23^(c)		380		444,813

				17,874,893

Colorado — 1.8%
Arapahoe County School District No.6 Littleton, GO, Series A, (SAW), 5.50%, 12/01/43		1,915		2,519,872
Colorado Health Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/44		1,945		2,161,789
State of Colorado, COP, Series O, 4.00%, 03/15/44		1,405		1,651,395

				6,333,056

Connecticut — 1.4%
State of Connecticut Special Tax Revenue, RB Series A, 4.00%, 05/01/36		365		441,300


Security	Par (000)		Value

Connecticut (continued)
State of Connecticut Special Tax Revenue, RB (continued) Series A, 4.00%, 05/01/39	$	230	$	275,887
State of Connecticut, GO, Series A, 4.00%, 01/15/38		3,435		4,072,811

				4,789,998

Delaware — 2.0%
County of Sussex Delaware, RB, 6.00%, 10/01/40		1,240		1,242,591
Delaware State Economic Development Authority, RB, 5.38%, 10/01/45		4,275		4,283,593
Delaware Transportation Authority, RB, 5.00%, 06/01/55		1,260		1,449,630

				6,975,814

District of Columbia — 5.5%
District of Columbia Tobacco Settlement Financing Corp., Refunding RB, 6.75%, 05/15/40		11,500		11,829,245
District of Columbia, Refunding RB
5.00%, 04/01/35		465		556,293
5.00%, 10/01/48		2,525		3,008,639
Series A, 6.00%, 07/01/23^(c)		820		941,688
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB
Series A, 5.00%, 10/01/53		2,195		2,283,963
Series B, Subordinate, 4.00%, 10/01/49		845		936,632

				19,556,460

Florida — 3.6%
Capital Projects Finance Authority, Refunding RB
Series A-1, 5.00%, 10/01/32		215		244,399
Series A-1, 5.00%, 10/01/33		240		270,960
Series A-1, 5.00%, 10/01/34		240		269,978
Series A-1, 5.00%, 10/01/35		80		89,574
Collier County Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45		1,450		1,635,296
Florida Development Finance Corp., RB
Series A, 5.00%, 06/15/40		240		270,463
Series A, 5.00%, 06/15/50		795		890,178
Series A, 5.00%, 06/15/55		475		531,786
Jacksonville Port Authority, Refunding RB, AMT, 5.00%, 11/01/22^(c)		1,665		1,809,555
Mid-Bay Bridge Authority, RB, Series A, 7.25%, 10/01/21^(c)		3,300		3,492,126
Stevens Plantation Community Development District, SAB, Series A, 7.10%, 05/01/35^(d)(e)		1,795		987,250
Volusia County Educational Facility Authority, Refunding RB, 5.00%, 10/15/49		1,930		2,339,720

				12,831,285

Georgia — 2.4%
Gainesville & Hall County Hospital Authority, Refunding RB, Series A, (GTD), 5.50%, 08/15/54		555		648,207
Georgia Housing & Finance Authority, RB, S/F Housing, Series B, 2.50%, 06/01/50		795		806,838
Main Street Natural Gas, Inc., RB
Series A, 5.00%, 05/15/35		540		746,539
Series A, 5.00%, 05/15/36		540		753,230
Series A, 5.00%, 05/15/37		595		836,784
Series A, 5.00%, 05/15/38		325		460,450
Series A, 5.00%, 05/15/49		1,095		1,645,347


Security	Par (000)		Value

Georgia (continued)
Municipal Electric Authority of Georgia, RB, 4.00%, 01/01/49	$	1,720	$	1,926,022
Municipal Electric Authority of Georgia, Refunding RB, Sub-Series A, 4.00%, 01/01/49		670		751,646

				8,575,063

Hawaii — 0.4%
State of Hawaii Harbor System Revenue, ARB, Series A, 5.25%, 07/01/30		1,480		1,485,476


Idaho — 0.3%
Idaho Health Facilities Authority, RB, Series 2017, 5.00%, 12/01/46		805		957,861


Illinois — 10.7%
Chicago Board of Education, GO
Series C, 5.25%, 12/01/35		1,600		1,677,168
Series D, 5.00%, 12/01/46		2,090		2,164,457
Series H, 5.00%, 12/01/36		495		526,774
Chicago Board of Education, Refunding GO
Series C, 5.00%, 12/01/25		705		761,322
Series D, 5.00%, 12/01/27		920		1,010,031
Series F, 5.00%, 12/01/22		675		698,693
Series G, 5.00%, 12/01/34		495		527,759
Chicago O’Hare International Airport, ARB
Series A, 3rd Lien, 5.75%, 01/01/21^(c)		4,200		4,218,732
Series A, 3rd Lien, 5.75%, 01/01/39		800		803,560
Series C, 3rd Lien, 6.50%, 01/01/21^(c)		2,545		2,557,903
Chicago O’Hare International Airport, Refunding RB, Series A, Senior Lien, 4.00%, 01/01/37		1,035		1,204,864
Chicago Transit Authority Sales Tax Receipts Fund, RB, 5.25%, 12/01/21^(c)		1,150		1,207,673
Cook County Community College District No.508, GO, 5.50%, 12/01/38		845		906,592
Illinois State Toll Highway Authority, RB, Series C, 5.00%, 01/01/37		3,005		3,486,942
Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57		960		1,049,635
Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 06/15/50		1,475		1,521,610
Metropolitan Pier & Exposition Authority, Refunding RB, CAB, Series B, (AGM), 0.00%, 06/15/43^(b)		5,700		2,632,317
Railsplitter Tobacco Settlement Authority, RB, 6.00%, 06/01/21^(c)		1,255		1,291,244
State of Illinois, GO 5.00%, 02/01/39		1,640		1,691,135
Series A, 5.00%, 04/01/35		2,500		2,568,875
Series A, 5.00%, 04/01/38		3,885		3,977,075
University of Illinois, RB, Series A, 5.00%, 04/01/44		1,050		1,153,047

				37,637,408

Indiana — 3.9%
City of Valparaiso Indiana, RB
AMT, 6.75%, 01/01/34		845		920,847
AMT, 7.00%, 01/01/44		3,535		3,881,642
Indiana Finance Authority, RB
Series A, 1st Lien, 5.25%, 10/01/38		3,510		3,644,925
Series A, AMT, 5.00%, 07/01/44		485		518,489


Security	Par (000)		Value

Indiana (continued)
Indiana Finance Authority, RB (continued)
Series A, AMT, 5.00%, 07/01/48	$	1,610	$	1,717,484
Series A, AMT, 5.25%, 01/01/51		435		467,277
Indiana Finance Authority, Refunding RB, 4.75%, 05/01/22^(c)		1,180		1,212,627
Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40		1,380		1,502,889

				13,866,180

Iowa — 1.7%
Iowa Finance Authority, Refunding RB
5.25%, 12/01/25		500		546,560
5.88%, 12/01/26^(a)		445		459,663
Series B, 5.25%, 12/01/50^(f)		3,060		3,327,015
Iowa Tobacco Settlement Authority, Refunding RB, Series C, 5.63%, 06/01/46		1,610		1,611,562

				5,944,800

Kentucky — 0.7%
Kentucky Economic Development Finance Authority, RB, Series A, 5.25%, 01/01/23^(c)		1,060		1,172,053
Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C, Convertible, 6.75%, 07/01/43^(g)		1,280		1,389,030

				2,561,083

Louisiana — 1.5%
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.50%, 05/15/30		875		877,074
Series A, 5.25%, 05/15/31		935		952,812
Series A, 5.25%, 05/15/32		1,195		1,265,959
Series A, 5.25%, 05/15/33		1,300		1,376,388
Series A, 5.25%, 05/15/35		795		869,984

				5,342,217

Maryland — 0.8%
Maryland Health & Higher Educational Facilities Authority, RB, Series 2017, 5.00%, 12/01/46		455		538,988
Maryland Health & Higher Educational Facilities Authority, Refunding RB, 6.25%, 01/01/21^(c)		2,400		2,411,688

				2,950,676

Michigan — 2.5%
City of Detroit Michigan Sewage Disposal System Revenue, Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22^(c)		4,825		5,209,552
Michigan Finance Authority, Refunding RB, Series A, 4.00%, 12/01/49		895		1,023,245
Michigan State University, Refunding RB, Series B, 5.00%, 02/15/48		1,100		1,351,009
Michigan Strategic Fund, RB, AMT, 5.00%, 06/30/48		1,165		1,355,594

				8,939,400

Minnesota — 1.1%
Duluth Economic Development Authority, Refunding RB
Series A, 4.25%, 02/15/48		1,115		1,238,553
Series A, 5.25%, 02/15/53		2,230		2,646,274

				3,884,827


Security	Par (000)		Value

Missouri — 1.7%
370/Missouri Bottom Road/Taussig Road Transportation Development District, RB, 7.20%, 05/01/33^(d)(e)	$	6,000	$	2,130,000
Health & Educational Facilities Authority of the State of Missouri, RB, 4.00%, 06/01/53		3,180		3,586,118
Health & Educational Facilities Authority of the State of Missouri, Refunding RB, 5.50%, 05/01/43		265		279,527

				5,995,645

Nebraska — 0.8%
Central Plains Energy Project, RB
5.25%, 09/01/37		895		967,925
5.00%, 09/01/42		1,570		1,687,624

				2,655,549

New Hampshire^(a)— 0.8%
New Hampshire Business Finance Authority, Refunding RB
Series B, 4.63%, 11/01/42		1,860		1,909,569
Series C, AMT, 4.88%, 11/01/42		975		1,007,458

				2,917,027

New Jersey — 15.8%
Casino Reinvestment Development Authority, Inc., Refunding RB
5.25%, 11/01/39		1,805		1,877,778
5.25%, 11/01/44		1,640		1,695,924
Hudson County Improvement Authority, RB, 4.00%, 10/01/46		1,830		2,178,121
New Jersey Economic Development Authority, RB 4.00%, 11/01/38		560		607,925
4.00%, 11/01/39		450		486,927
5.00%, 06/15/49		2,535		2,934,693
Series EEE, 5.00%, 06/15/48		4,020		4,594,659
AMT, 5.13%, 09/15/23		1,645		1,719,008
New Jersey Economic Development Authority, Refunding ARB, AMT, 5.00%, 10/01/47		1,570		1,689,414
New Jersey Economic Development Authority, Refunding SAB, 6.50%, 04/01/28		7,475		8,204,784
New Jersey Transportation Trust Fund Authority, RB
Series AA, 5.00%, 06/15/44		2,085		2,232,726
Series B, 5.25%, 06/15/36		2,690		2,747,835
Series BB, 4.00%, 06/15/50		1,645		1,744,457
Series BB, 5.00%, 06/15/50		5,395		6,160,982
New Jersey Turnpike Authority, RB
Series A, 5.00%, 01/01/43		770		817,132
Series E, 5.00%, 01/01/45		2,810		3,202,360
Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 05/01/23^(c)		570		635,368
State of New Jersey, GO
Series A, 4.00%, 06/01/31		620		755,594
Series A, 3.00%, 06/01/32		1,430		1,598,368
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.25%, 06/01/46		580		697,038
Sub-Series B, 5.00%, 06/01/46		7,830		9,031,200

				55,612,293

New York — 13.1%
City of New York, GO, Series C, 5.00%, 08/01/42		1,230		1,570,439
Metropolitan Transportation Authority, RB
Series B, 5.25%, 11/15/38		2,555		2,742,384
Series B, 5.25%, 11/15/39		910		975,456
Metropolitan Transportation Authority, Refunding RB Series C-1, 4.75%, 11/15/45		1,760		1,977,307


Security	Par (000)		Value

New York (continued)
Metropolitan Transportation Authority, Refunding RB (continued)
Series C-1, 5.00%, 11/15/50	$	575	$	661,106
Series C-1, 5.25%, 11/15/55		845		985,718
Monroe County Industrial Development Corp., Refunding RB
4.00%, 12/01/46		575		641,062
Series A, 4.00%, 07/01/50		1,175		1,370,579
New York City Housing Development Corp., RB, M/F Housing, Series A, 3.00%, 11/01/55		1,170		1,201,017
New York City Transitional Finance Authority Future Tax Secured Revenue, RB Series C, 4.00%, 05/01/45		1,200		1,411,044
Sub-Series C-1, 4.00%, 05/01/40		480		577,958
Sub-Series E-1, 5.00%, 02/01/42		2,680		2,813,008
New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41^(a)		2,000		2,010,100
New York Liberty Development Corp., Refunding RB^(a)
Series 1, Class 1, 5.00%, 11/15/44		4,320		4,491,331
Series 2, Class 2, 5.15%, 11/15/34		365		395,536
Series 2, Class 2, 5.38%, 11/15/40		910		972,735
New York State Environmental Facilities Corp., RB, Series B, Subordinate, 5.00%, 06/15/48		1,945		2,431,931
New York State Urban Development Corp., RB
Series A, 4.00%, 03/15/49		8,750		10,249,488
Series A, 3.00%, 03/15/50		1,420		1,501,820
New York Transportation Development Corp., RB
AMT, 5.00%, 10/01/35		385		449,334
AMT, 5.00%, 10/01/40		1,095		1,262,557
Port Authority of New York & New Jersey, ARB
6.00%, 12/01/42		1,635		1,640,510
Series 8, 6.00%, 12/01/36		1,410		1,416,035
Triborough Bridge & Tunnel Authority, RB
Series A, 4.00%, 11/15/54		290		338,413
Series A, 5.00%, 11/15/54		935		1,190,003
Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44		759		836,681

				46,113,552

North Carolina — 0.9%
North Carolina Medical Care Commission, RB
Series A, 4.00%, 10/01/40		125		136,940
Series A, 5.00%, 10/01/40		190		224,190
Series A, 4.00%, 10/01/45		115		124,386
Series A, 5.00%, 10/01/45		340		397,103
Series A, 4.00%, 10/01/50		145		156,860
Series A, 5.00%, 10/01/50		380		442,065
North Carolina Medical Care Commission, Refunding RB, Series A, 7.75%, 03/01/21^(c)		625		636,669
University of North Carolina at Chapel Hill, RB, 5.00%, 02/01/49		590		921,999

				3,040,212

North Dakota — 0.3%
County of Cass North Dakota, Refunding RB, Series B, 5.25%, 02/15/58		1,035		1,226,754


Ohio — 3.4%
Buckeye Tobacco Settlement Financing Authority, Refunding RB
Series A-2, Class 1, 4.00%, 06/01/37		315		372,922
Series A-2, Class 1, 4.00%, 06/01/38		315		371,650
Series A-2, Class 1, 4.00%, 06/01/39		315		370,771


Security	Par (000)		Value

Ohio (continued)
Buckeye Tobacco Settlement Financing Authority, Refunding RB (continued)
Series A-2, Class 1, 4.00%, 06/01/48	$	825	$	928,603
Series B-2, Class 2, 5.00%, 06/01/55		3,640		4,079,785
County of Franklin Ohio, RB
Series 2017, 5.00%, 12/01/46		435		514,414
Series A, 6.13%, 07/01/22^(c)		40		43,711
Series A, 6.13%, 07/01/40		670		712,337
Series A, 4.00%, 12/01/49		555		637,290
County of Hamilton Ohio, Refunding RB
4.00%, 08/15/50		660		763,297
Series A, 3.75%, 08/15/50		1,155		1,293,946
Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49^(a)		810		838,553
State of Ohio, RB, AMT, 5.00%, 06/30/53		870		961,280

				11,888,559

Oklahoma — 1.8%
Oklahoma Development Finance Authority, RB, Series B, 5.25%, 08/15/48		1,275		1,490,730
Oklahoma Turnpike Authority, RB
Series A, 4.00%, 01/01/48		2,230		2,491,601
Series C, 4.00%, 01/01/42		2,120		2,385,721

				6,368,052

Oregon — 0.7%
Port of Portland Oregon Airport Revenue, Refunding ARB, Series 27-A, AMT, 5.00%, 07/01/45		1,980		2,439,142


Pennsylvania — 3.8%
Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, Series A, 5.00%, 05/01/42		2,500		2,585,350
Hospitals & Higher Education Facilities Authority of Philadelphia, RB, Series A, 5.63%, 07/01/42		685		715,154
Montgomery County Higher Education and Health Authority, Refunding RB
Series A, 5.00%, 09/01/43		1,350		1,584,481
Series A, 4.00%, 09/01/49		615		665,639
Pennsylvania Economic Development Financing Authority, RB, AMT, 5.00%, 06/30/42		3,030		3,418,597
Pennsylvania Higher Educational Facilities Authority, RB, 4.00%, 08/15/49		2,545		2,930,797
Pennsylvania Turnpike Commission, RB, Series A, 5.00%, 12/01/44		1,190		1,361,134

				13,261,152

Puerto Rico — 6.5%
Children’s Trust Fund, Refunding RB
5.50%, 05/15/39		715		729,722
5.63%, 05/15/43		740		746,778
Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB
Series A, Senior Lien, 5.00%, 07/01/33		2,690		2,787,620
Series A, Senior Lien, 5.13%, 07/01/37		770		798,875
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB
Series A, Senior Lien, 6.00%, 07/01/38		795		797,639
Series A, Senior Lien, 6.00%, 07/01/44		1,445		1,449,797
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53		2,177		2,357,648
Series A-1, Restructured, 5.00%, 07/01/58		7,707		8,477,084
Series A-2, Restructured, 4.33%, 07/01/40		1,052		1,120,633


Security	Par (000)		Value

Puerto Rico (continued)
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB (continued) Series A-2, Restructured, 4.78%, 07/01/58	$	1,812	$	1,960,910
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46^(b)		6,135		1,835,837

				23,062,543

Rhode Island — 2.4%
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.00%, 06/01/35		1,690		1,897,735
Series B, 4.50%, 06/01/45		2,850		3,003,729
Series B, 5.00%, 06/01/50		3,175		3,423,539

				8,325,003

South Carolina — 4.8%
South Carolina Jobs-Economic Development Authority, Refunding RB, Series A, 5.00%, 05/01/48		3,340		3,919,757
South Carolina Public Service Authority, RB, Series A, 5.50%, 12/01/54		3,575		4,075,679
South Carolina Public Service Authority, Refunding RB
Series A, 5.00%, 12/01/50		1,545		1,783,950
Series E, 5.25%, 12/01/55		1,840		2,138,669
South Carolina State Housing Finance & Development Authority, RB, S/F Housing, Series B, 2.45%, 07/01/51		5,000		5,101,400

				17,019,455

Tennessee — 2.2%
Chattanooga Health Educational & Housing Facility Board, RB, Series A, 5.25%, 01/01/23^(c)		1,470		1,620,117
Chattanooga Health Educational & Housing Facility Board, Refunding RB, Series A, 4.00%, 08/01/44		170		189,477
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40		740		867,546
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Building, RB, Series A, 5.25%, 10/01/58		1,055		1,188,605
Tennessee Housing Development Agency, RB, S/F Housing, 2.45%, 07/01/50		4,000		4,070,360

				7,936,105

Texas — 8.3%
Central Texas Regional Mobility Authority, RB, Series E, Senior Lien, 4.00%, 01/01/50		2,390		2,738,080
Central Texas Regional Mobility Authority, Refunding RB^(c)
Senior Lien, 6.25%, 01/01/21		2,350		2,361,398
Sub Lien, 5.00%, 01/01/23		390		428,169
City of Austin Texas Airport System Revenue, ARB, AMT, 5.00%, 11/15/39		665		752,454
City of Houston Texas Airport System Revenue, Refunding RB, AMT, 5.00%, 07/01/29		460		482,416
City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, Series A, 5.00%, 02/01/48		1,260		1,589,477
Harris County Cultural Education Facilities Finance Corp., RB, Series B, 7.00%, 01/01/23^(c)		485		552,832
Harris County-Houston Sports Authority, Refunding RB^(b)
Series A, 3rd Lien, (NPFGC), 0.00%, 11/15/24^(c)		2,300		1,107,427
Series A, 3rd Lien, (NPFGC), 0.00%, 11/15/36		13,075		5,699,000
Midland County Fresh Water Supply District No.1, RB, CAB, Series A, 0.00%, 09/15/37^(b)		6,055		3,257,287


Security	Par (000)		Value

Texas (continued)
New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.13%, 08/15/47^(a)	$	1,085	$	1,091,391
San Antonio Water System, Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48		1,370		1,699,649
Tarrant County Cultural Education Facilities Finance Corp., RB, Series B, 5.00%, 07/01/48		4,955		6,033,258
Texas Transportation Commission, RB, Series A, 5.00%, 08/01/57		1,270		1,490,193

				29,283,031

Utah — 1.1%
County of Utah UT, RB
Series A, 4.00%, 05/15/43		240		285,317
Series A, 3.00%, 05/15/50		1,085		1,156,501
Salt Lake City Corp. Airport Revenue, ARB
Series A, AMT, 5.00%, 07/01/47		995		1,179,722
Series A, AMT, 5.00%, 07/01/48		955		1,156,324

				3,777,864

Vermont — 1.2%
Vermont Educational & Health Buildings Financing Agency, Refunding RB
5.00%, 11/01/49		1,915		2,408,170
4.00%, 11/01/50		1,725		2,003,708

				4,411,878

Virginia — 1.4%
Front Royal & Warren County Industrial Development Authority, RB, 4.00%, 01/01/50		865		949,476
Virginia Small Business Financing Authority, RB
AMT, Senior Lien, 5.25%, 01/01/32		1,755		1,857,281
AMT, Senior Lien, 6.00%, 01/01/37		2,120		2,260,811

				5,067,568

Washington — 4.0%
City of Bellingham Washington Water & Sewer Revenue, RB, 5.00%, 08/01/36		5,050		5,212,206
Grant County Public Utility District No.2 Priest Rapids Hydroelectric Project, Refunding RB, Series A, 5.00%, 01/01/26^(c)		2,335		2,893,999
Port of Seattle Washington, ARB
Series A, AMT, 5.00%, 05/01/43		1,615		1,878,842
Series C, AMT, 5.00%, 04/01/40		815		914,316
Washington Health Care Facilities Authority, RB, Series A, 5.75%, 01/01/23^(c)		2,445		2,727,862
Washington Health Care Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/44		375		419,029

				14,046,254

Total Municipal Bonds — 126.3% (Cost: $415,171,665)				445,523,734


Municipal Bonds Transferred to Tender Option Bond Trusts^(h)

California — 2.2%
Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/42⁽ⁱ⁾		3,358		3,842,991
Sacramento Area Flood Control Agency, Refunding SAB, 5.00%, 10/01/47		3,345		4,010,688

				7,853,679


Security	Par (000)		Value

Colorado — 0.9%
City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.25%, 12/01/48⁽ⁱ⁾	$	2,463	$	3,032,821


District of Columbia — 0.6%
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, (AGM), 4.00%, 10/01/53		1,978		2,237,175


Georgia — 0.9%
Dalton Whitfield County Joint Development Authority, RB, 4.00%, 08/15/48		1,321		1,485,655
Georgia Housing & Finance Authority, Refunding RB, Series A, 3.60%, 12/01/44		1,582		1,740,726

				3,226,381

Illinois — 0.5%
Illinois Finance Authority, Refunding RB
Series C, 4.00%, 02/15/27^(c)		4		4,340
Series C, 4.00%, 02/15/41		1,540		1,730,378

				1,734,718

Massachusetts — 3.1%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, Series A, 4.00%, 06/01/45		2,237		2,483,510
Massachusetts Development Finance Agency, Refunding RB, 5.00%, 07/01/47		4,979		5,841,905
Massachusetts School Building Authority, RB, Series B, 5.00%, 10/15/21^(c)		2,461		2,563,826

				10,889,241

New York — 15.6%
Hudson Yards Infrastructure Corp., RB (i)
5.75%, 02/15/21^(c)		1,083		1,095,234
5.75%, 02/15/47		666		673,755
New York City Water & Sewer System, Refunding RB, Series HH, 5.00%, 06/15/31⁽ⁱ⁾		9,150		9,373,077
New York Liberty Development Corp., ARB, 5.25%, 12/15/43		11,670		12,173,568
New York Liberty Development Corp., Refunding RB, 5.75%, 11/15/51⁽ⁱ⁾		7,040		7,378,040
New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60		1,459		1,701,476
New York State Dormitory Authority, Refunding RB, Series D, 4.00%, 02/15/47		6,576		7,655,874
New York State Thruway Authority, Refunding RB, Series B, Subordinate, 4.00%, 01/01/50		3,164		3,582,189
New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/46		7,217		8,255,807
Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55		2,790		3,258,274

				55,147,294

North Carolina — 0.9%
North Carolina Capital Facilities Finance Agency, Refunding RB, Series B, 5.00%, 10/01/25^(c)		2,740		3,359,267


Pennsylvania — 0.9%
Pennsylvania Turnpike Commission, RB, Sub-Series A, 5.50%, 12/01/42		2,521		3,044,596


Rhode Island — 0.5%
Narragansett Bay Commission, Refunding RB, Series A, 4.00%, 09/01/22^(c)		1,695		1,808,718


Security	Par (000)		Value

Texas — 6.2%
Board of Regents of the University of Texas System, Refunding RB, Series B, 5.00%, 08/15/43	$	3,346	$	3,590,330
City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/23^(c)		2,660		2,930,203
Lower Colorado River Authority, Refunding RB, 4.00%, 05/15/43		2,241		2,317,556
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Refunding RB, Series A, 5.00%, 11/01/21^(c)		3,720		3,881,411
Texas Water Development Board, RB, Series A, 4.00%, 10/15/49		7,600		9,089,144

				21,808,644

Virginia — 2.5%
Hampton Roads Transportation Accountability Commission, RB, Series A, Senior Lien, 4.00%, 07/01/60⁽ⁱ⁾		2,370		2,796,126
Virginia Small Business Financing Authority, Refunding RB, Series A, 4.00%, 12/01/49		5,320		6,024,049

				8,820,175

Wisconsin — 1.0%
Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46		3,072		3,386,903


Total Municipal Bonds Transferred to Tender Option Bond Trusts — 35.8% (Cost: $118,407,077)				126,349,612


Total Long-Term Investments — 162.1% (Cost: $533,578,742)				571,873,346


	Shares

Short-Term Securities

Money Market Funds — 0.6%
BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%^(j)(k)		2,316,217		2,316,448


Total Short-Term Securities — 0.6% (Cost: $2,316,289)				2,316,448


Total Investments — 162.7% (Cost: $535,895,031)				574,189,794

Other Assets Less Liabilities — 1.6%				5,358,672

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (21.4)%				(75,369,344	)

VMTP Shares at Liquidation Value — (42.9)%				(151,300,000	)


Net Assets Applicable to Common Shares — 100.0%			$	352,879,122

^(a)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

^(b)	Zero-coupon bond.

^(c)	U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

^(d)	Issuer filed for bankruptcy and/or is in default.

^(e)	Non-income producing security.

^(f)	Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^(g)	Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.

^(h)	Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.

⁽ⁱ⁾	All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between December 15, 2020 to February 15, 2047, is $16,914,023.

^(j)	Affiliate of the Trust.

^(k)	Annualized 7-day yield as of period end.

Investments in issuers considered to be affiliate(s) of the Trust during the period ended November 30, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust’s investments categorized in the disclosure hierarchy. The breakdown of the Trust’s investments into major categories is disclosed in the Schedule of Investments above.

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:


Affiliated Issuer	Value at 08/31/20		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 11/30/20		Shares Held at 11/30/20		Income		Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, MuniCash, Institutional Class	$	14,396,675	$	—	$	(12,080,127	)^(a)	$	172	$	(272	)	$	2,316,448		2,316,217	$	205	$	—


Portfolio Abbreviation

AGM		Assured Guaranty Municipal Corp.

AMT		Alternative Minimum Tax

ARB		Airport Revenue Bonds

CAB		Capital Appreciation Bonds

COP		Certificates of Participation

GO		General Obligation Bonds

GTD		GTD Guaranteed

M/F		Multi-Family

NPFGC		National Public Finance Guarantee Corp.

RB		Revenue Bond


Portfolio Abbreviation (continued)

S/F		Single-Family

SAB		Special Assessment Bonds

SAW		State Aid Withholding

UT		Unlimited Tax


	Level 1		Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Municipal Bonds	$	—	$	445,523,734	$	—	$	445,523,734
Municipal Bonds Transferred to Tender Option Bond Trusts		—		126,349,612		—		126,349,612
Short-Term Securities
Money Market Funds		2,316,448		—		—		2,316,448

	$	2,316,448	$	571,873,346	$	—	$	574,189,794