<SEC-DOCUMENT>0000855887-19-000006.txt : 20190417
<SEC-HEADER>0000855887-19-000006.hdr.sgml : 20190417
<ACCEPTANCE-DATETIME>20190417131625
ACCESSION NUMBER:		0000855887-19-000006
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190228
FILED AS OF DATE:		20190417
DATE AS OF CHANGE:		20190417
EFFECTIVENESS DATE:		20190417

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.
		CENTRAL INDEX KEY:			0000855887
		IRS NUMBER:				051287040
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05877
		FILM NUMBER:		19752733

	BUSINESS ADDRESS:	
		STREET 1:		THE DREYFUS CORPORATION
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129226400

	MAIL ADDRESS:	
		STREET 1:		C/O DREYFUS CORP
		STREET 2:		200 PARK AVENUE, 7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>lp1852.htm
<DESCRIPTION>FORM N-Q
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 24pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C.&nbsp; 20549</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FORM N-Q</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT<BR>INVESTMENT COMPANY</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Investment Company Act file number</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">811-</FONT><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face="Times New Roman">05877</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(Exact name of Registrant as specified in charter)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">c/o The Dreyfus Corporation</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">200 Park Avenue</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">New York, New York&nbsp; 10166</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Zip code)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Bennett A. MacDougall, Esq.</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">200 Park Avenue</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">New York, New York&nbsp; 10166</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(Name and address of agent for service)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Registrant's telephone number, including area code:&nbsp; </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(212) 922-6400</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Date of fiscal year end:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; 11/30</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; 02/28/19</FONT></P></TD>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule of Investments.</FONT></B></P>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS</FONT><BR><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>Dreyfus Strategic Municipal Bond Fund, Inc.</FONT><BR><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>February 28, 2019 (Unaudited)</FONT></P>

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   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=2 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4%</FONT></B>&nbsp;</TD>

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   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Alabama - 4.1%</FONT></B>&nbsp;</TD>

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   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Birmingham Special Care Facilities</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Financing Authority,</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Improvement Revenue Bonds</FONT>&nbsp;</TD>

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   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Methodist Home for the Aging)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2030</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,800,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,975,302</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Birmingham Special Care Facilities</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Financing Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Improvement Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Methodist Home for the Aging)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2050</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,750,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,979,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Jefferson County,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Subordinate Lien Sewer Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds Convertible Capital</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Appreciation Warrants, Ser. F</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">0/7.75</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">a</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,280,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Lower Alabama Gas District,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Gas Project Revenue Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,853,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">16,088,722</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Arizona - 2.8%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Arizona Industrial Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(BASIS Schools Projects) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2047</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,544,910</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Phoenix Industrial Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education Facility Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Legacy Traditional Schools Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.75</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2044</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,091,570</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Phoenix Industrial Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education Facility Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (BASIS Schools Projects)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,014,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Phoenix Industrial Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education Facility Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (BASIS Schools Projects)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,026,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XF2537),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Salt Verde Financial Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Gas Revenue Bonds) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2032</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,550,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,380,490</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">11,057,870</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">California - 13.1%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">California,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.75</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2031</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,800,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,823,946</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="38%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">California - 13.1% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">California,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3/1/2033</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,250,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,347,470</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">California,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2035</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,143,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">California,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2033</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,290,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,298,382</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">California,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,710,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,720,488</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Golden State Tobacco Securitization</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding, Ser. A-1</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2047</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">965,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Golden State Tobacco Securitization</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tobacco Settlement Asset-Backed</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">0.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2047</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,607,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">San Buenaventura,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Community</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Memorial Health System)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2041</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,635,645</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0379),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Los Angeles Department of Water</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">and Power, Water System Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,451,212</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0387),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Los Angeles Department of Airports,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Revenue Bonds (Los Angeles</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">International Airport)) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,552,585</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0390),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(The Regents of the University of</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">California, General Revenue Bonds)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,260,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,977,881</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0440),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Los Angeles Department of Airports,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Revenue Bonds (Los Angeles</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">International Airport)) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/15/2027</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,247,500</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,455,152</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tobacco Securitization Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">North Tobacco Settlement Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Capital Appreciation-2nd</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Sub-Asset Backed C)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">0.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">26,185,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,788,179</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">51,766,960</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Colorado - 4.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Belleview Station Metropolitan District</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Number 2,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,375,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,413,166</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="39%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

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   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; TEXT-INDENT: 3.96pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="64%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Colorado - 4.3% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Colorado Educational &amp; Cultural</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Johnson and Wales</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University Project) Ser. B</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2031</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,685,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,851,631</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Denver City and County,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Airport Revenue Bonds, Refunding,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2048</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,300,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,576,368</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Dominion Water and Sanitation</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">District,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tap Fee Revenue Bonds</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,210,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,332,545</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Sterling Ranch Community Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Board Supported Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2047</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,250,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,251,137</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0385),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Board of Governors of the Colorado</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">State University, System Enterprise</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds) Non-recourse</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,960,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,437,598</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">16,862,445</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">District of Columbia - 4.1%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0437),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(District of Columbia, Income Tax</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Secured Revenue Bonds) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>12/20/2021</FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">14,834,680</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">16,296,717</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Florida - 7.5%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlantic Beach,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Fleet Landing</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2053</FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,637,525</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Cape Coral Health Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Housing Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Gulf Care, Inc. Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.88</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,600,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,690,960</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Mid-Bay Bridge Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Springing Lien Revenue Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,689,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Palm Beach County Health Facilities</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Retirement Community Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Acts Retirement - Life</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Communities, Inc. Obligated Group)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2045&nbsp; </FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,775,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,274,999</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Palm Beach County Health Facilities</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Retirement Community Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Adult Communities Total</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Services, Inc. Retirement - Life</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Communities, Inc. Obligated Group)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,825,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,260,435</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Saint Johns County Industrial</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Development Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Presbyterian</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Retirement Communities Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="11%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,707,480</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="38%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Florida - 7.5% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">South Lake County Hospital District,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (South Lake Hospital,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Inc.) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2039</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,506,575</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">29,767,324</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Georgia - 5.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlanta,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Subordinate Lien Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Proctor Creek Watershed Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. D</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2028</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,004,520</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlanta,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Municipal Corp.) Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2034</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">275,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">281,064</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlanta,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Municipal Corp.) Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">725,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">742,487</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlanta,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,865,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,006,134</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlanta Development Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Health Care Facilities Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Georgia Proton Treatment</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Center Project) Ser. A1</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,464,435</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Atlanta Development Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Lien Revenue Bonds (New</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Downtown Atlanta Stadium Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A1</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,131,260</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Burke County Development Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Pollution Control Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Oglethorpe Power Corp-</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Vogtle) Ser. D</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,200,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,128,138</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0435),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Private Colleges and Universities</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority, Revenue Bonds (Emory</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University)) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/20/2022</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,622,215</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">20,380,253</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Hawaii - 1.8%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Purpose Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Hawaii Pacific Health Obligated</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Group) Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.63</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,628,975</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Purpose Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Hawaiian Electric Company, Inc. and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Subsidiary Projects)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2039</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,033,020</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="39%"></TD>

   <TD width="12%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; TEXT-INDENT: 3.96pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="65%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Hawaii - 1.8% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Purpose Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Hawaiian Electric</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Company)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3/1/2037</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,513,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">7,175,595</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Illinois - 12.7%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO, Refunding (Project and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding Series) Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2038</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,375,930</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO, Refunding, Ser. C</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2024</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,265,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,356,928</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Second Lien Wastewater</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Transmission Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding, Ser. C</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2039</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,330,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,510,435</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago Board of Education,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO, Refunding, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2033</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,250,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,315,912</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago O'Hare International Airport,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (General Airport</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Third Lien)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.63</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2035</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">580,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">613,594</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago O'Hare International Airport,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (General Airport</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Third Lien)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.63</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,420,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,595,353</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chicago O'Hare International Airport,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Lien Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2048</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,428,160</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Illinois,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/1/2038</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,850,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,961,264</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Illinois,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO, Ser. C</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2029</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,894,405</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Illinois Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Plymouth Place, Inc.)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,033,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Pier and Exposition</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Dedicated Tax Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Capital Appreciation-McCormick</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Place Expansion Project) (Insured;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">MBIA Insurance Corporation) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">0.00&nbsp;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>12/15/2036</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,124,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Pier and Exposition</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (McCormick Place</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Expansion Project) Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/15/2053</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,603,325</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Pier and Exposition</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(McCormick Place Expansion Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00&nbsp;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>12/15/2028</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,618,550</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="39%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Illinois - 12.7% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Pier and Exposition</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(McCormick Place Expansion Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/15/2052</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,550,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,614,184</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Railsplitter Tobacco Settlement</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tobacco Settlement Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,600,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,938,940</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2017-XM0492),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Illinois Finance Authority, Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (The University of Chicago))</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,124,977</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">50,109,507</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Indiana - 1.0%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Parkview Health</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">System Group) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2043</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">3,908,765</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Iowa - 1.4%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Iowa Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Midwestern Disaster Area Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Iowa Fertilizer Company</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2025</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,125,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">5,439,777</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Kentucky - 1.4%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Christian County,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">HR, Refunding (Jennie Stuart Medical</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Center)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2/1/2044</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,800,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,996,420</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Kentucky Public Energy Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. A-1</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2025</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,560,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,738,074</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">5,734,494</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Louisiana - 3.1%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Louisiana Local Government</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Environmental Facilities and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Community Development Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Westlake</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chemical Corporation Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2032</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,400,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,369,328</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Orleans,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water System Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,079,280</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XF2584),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Louisiana Public Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hospital Revenue Bonds (Franciscan</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Missionaries of Our Lady Health</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">System Project)) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2025</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8,195,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8,894,316</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">12,342,924</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="39%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Maine - .6%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Maine Health and Higher Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Maine General</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Medical Center Obligated Group)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2032</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">2,212,480</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Maryland - 2.0%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Maryland Health and Higher</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Educational Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Adventist</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">HealthCare Obligated Group) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,250,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,610,327</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0391),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Mayor and City Council of Baltimore,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project Revenue Bonds (Water</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Projects)) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,445,270</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">8,055,597</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Massachusetts - 10.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Agency,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Tufts Medical Center</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Obligated Group)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2032</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">995,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,092,271</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Agency,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Tufts Medical Center</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Obligated Group)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,505,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,652,129</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Agency,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding, Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2029</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,175,130</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Massachusetts Health and Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Suffolk</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University Issue)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2030</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,730,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,755,916</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Massachusetts Health and Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Suffolk</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University Issue)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,270,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,320,064</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0368),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Agency, Revenue Bonds (Harvard</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University Issue)) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/18/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,674,175</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0372),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Massachusetts, GO Consolidated</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Loan) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/4/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,400,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6,833,296</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0386),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(University of Massachusetts Building</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority, Project and Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,409,991</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8,105,783</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="39%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="64%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Massachusetts - 10.3% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XF0610),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Massachusetts Transportation Fund,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Rail Enhancement &amp;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Accelerated Bridge Programs))</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2025</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,250,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,928,698</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">40,537,462</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Michigan - 4.5%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Detroit,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water Supply System Senior Lien</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2036</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,290,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,451,934</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Detroit,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water Supply System Senior Lien</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2031</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,780,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,985,292</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Great Lakes Water Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Sewage Disposal System Second Lien</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding, Ser. C</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2036</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,236,820</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Michigan Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Local Government Loan Program</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Detroit</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water and Sewerage Department,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water Supply System Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Lien Local Project Bonds)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Insured; National Public Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2036</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,089,240</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Michigan Strategic Fund,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (AMT-I-75</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Improvement Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/30/2048</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,463,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Michigan Strategic Fund,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">SWDR, Refunding (Genesee Power</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Station Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,395,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,375,986</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">17,603,022</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Minnesota - 2.1%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Duluth Economic Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Essentia</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Health Group) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2/15/2058</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,326,920</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Minneapolis,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Fairview</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Health Services Obligated Group)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(LOC; Wells Fargo Bank NA) Ser. C</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1.72 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2048</FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">f</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,000,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">8,326,920</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Missouri - 2.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Missouri Health and Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Lutheran Senior</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Services Projects) Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2.88</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2/1/2022</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,365,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,367,416</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="39%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="64%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Missouri - 2.2% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Missouri Health and Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Lutheran</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Services Projects)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,200,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,290,288</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Saint Louis Land Clearance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Redevelopment Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Annual Appropriation</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Redevelopment Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(National Geospatial-Intelligence</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Agency Site Improvements Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,925,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,246,307</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">8,904,011</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Nevada - 1.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Reno,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Sales Tax Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Reno Transportation Rail Access</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project) (Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Municipal Corporation) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2058</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">5,002,500</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">New Jersey - 5.4%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Essex County Improvement Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">SWDR (Covanta Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,004,370</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">School Facilities Construction</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>12/15/2029</FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,690,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,705,937</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">School Facilities Construction</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/15/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,310,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,346,443</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water Facilities Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (New Jersey - American</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water Company, Inc. Project) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.70</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2039</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,060,660</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Jersey Housing &amp; Mortgage</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Finance Agency,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Single-</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Family Housing) Ser. D</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2024</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,370,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,538,507</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Jersey Transportation Trust Fund</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. AA</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/15/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,365,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,440,403</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Jersey Transportation Trust Fund</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. AA</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/15/2043</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,631,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">South Jersey Port Subordinated Marine</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Terminal,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="11%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2042</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,025,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,173,473</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="39%"></TD>

   <TD width="12%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; TEXT-INDENT: 3.96pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="65%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">New Jersey - 5.4% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XF2538),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority, Revenue Bonds) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=center><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>12/15/2023</FONT></TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,250,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,515,174</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">21,415,992</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">New Mexico - 1.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Farmington,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">PCR, Refunding (Public Service</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Company of New Mexico San Juan</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project) Ser. D</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.90</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">5,210,750</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">New York - 12.7%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Long Island Power Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Electric System General Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,010,710</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New York City Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Construction Fund,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/1/2028</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,785,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,048,322</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New York Convention Center</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Development Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Subordinate Lien Hotel Unit Fee,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Insured; Assured</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=center><FONT size=1 face="Cambria,Times New Roman,Times,serif">0.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2049</FONT></TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,600,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,603,784</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New York Counties Tobacco Trust V,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Capital Appreciation Subordinate</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Pass Through Revenue Bonds, Ser. S2</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">0.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2050</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">27,625,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,567,769</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New York Liberty Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (3 World</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Trade Center Project) Ser. 1</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=center><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2044</FONT></TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,400,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,545,078</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New York Transportation Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Facility Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(LaGuardia Airport Terminal B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Redevelopment Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,177,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New York Transportation Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Facility Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (American Airlines, Inc.</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">John F. Kennedy International Airport</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/1/2026</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">523,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Niagara Area Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Solid Disposal Facility Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds, Refunding (Convanta Holding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project) Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.75</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2042</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">992,910</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Port Authority of New York and New</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Jersey,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Project Revenue Bonds (JFK</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">International Air Terminal LLC</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2036</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,710,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,986,430</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="38%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">New York - 12.7% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0370),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(New York City Transitional Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Subordinate Revenue Bonds) Non-</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/5/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,281,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0436),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(New York City Municipal Water</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Finance Authority, Water and Sewer</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">System Second General Resolution</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4/9/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12,600,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">13,502,727</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0438),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(New York City Transitional Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Subordinate Revenue Bonds)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2027</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,302,512</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Triborough Bridge &amp; Tunnel Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">General Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(LOC; State Street B&amp;T Co., NA) Ser. C</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1.70</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2032</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">f</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">50,042,817</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">North Carolina - 2.6%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0444),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(North Carolina Medical Care</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Commission, Health Care Facilities</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Duke University</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Health System)) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2042</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">10,394,680</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Ohio - 5.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Buckeye Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tobacco Settlement Asset-Backed</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds, Ser. A2</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.88</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2030</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,888,060</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Buckeye Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tobacco Settlement Asset-Backed</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds, Ser. A2</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2047</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9,085,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9,051,204</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Butler County,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hospital Facilities Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(UC Health)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,040,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,165,480</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Butler County,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hospital Facilities Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(UC Health)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">960,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,019,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Centerville,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Health Care Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Graceworks Lutheran</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Services)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2047</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,552,635</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="39%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Ohio - 5.3% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Cuyahoga County Hospital,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (The</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metrohealth System)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2/15/2057</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,041,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ohio Air Quality Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Air Quality Revenue Bonds (Ohio</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Valley Electric Corporation Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. E</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.63</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,200,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,248,552</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">20,966,731</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Oregon - .4%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Warm Springs Reservation</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Confederated Tribes,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hydroelectric Revenue Bonds (Pelton</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Round Butte Project) Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.38</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2033</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">1,529,115</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Pennsylvania - 4.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Crawford County Hospital Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">HR, Refunding (Meadville Medical</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Center Project) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2046</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,071,910</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Pennsylvania Housing Finance Agency,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Single-Family</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Housing) Ser. 114A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3.35</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2026</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,025,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Philadelphia,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">GO</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,700,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,013,913</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0373),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Geisinger Authority, Health System</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Geisinger Health</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">System)) Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2035</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,184,380</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XM0594),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Berks County Industrial</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Development Authority, Health</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">System Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Tower Health Project)) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2025</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,920,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,355,322</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">16,650,925</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Rhode Island - 1.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Rhode Island Health and Educational</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Building Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Hospital Financing Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Lifespan Obligated Group) (Insured;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Assured Guaranty Corp.) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">5,053,050</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">South Carolina - 2.8%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0384),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(South Carolina Public Service</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority, Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Obligations (Santee Cooper)) Non-</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2037</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,200,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">10,895,912</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<TR>

   <TD width="38%"></TD>

   <TD width="13%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="38%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; TEXT-INDENT: 3.96pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="65%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Tennessee - 2.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Government of Nashville</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">and Davidson County Health and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Educational Facilities Board,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (The Vanderbilt</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,050,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,096,391</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Government of Nashville</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">and Davidson County Health and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Educational Facilities Board,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (The Vanderbilt</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">450,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">459,923</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Metropolitan Government of Nashville</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">and Davidson County Health and</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Educational Facilities Board,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (The Vanderbilt</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University) Ser. B</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10/1/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,067,890</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0388),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Metropolitan Government of</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Nashville and Davidson County,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Water and Sewer Revenue Bonds)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Non-recourse</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,308,993</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">8,933,197</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Texas - 14.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Central Texas Regional Mobility</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Lien Revenue Bonds, Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,631,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Clifton Higher Education Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(International Leadership of Texas)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.75</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/15/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,533,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Clifton Higher Education Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education Revenue Bonds (Uplift</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Education) Ser. A</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">4.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12/1/2044</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,466,075</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Clifton Higher Education Finance</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (International</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Leadership) Ser. D</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="13%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/15/2048</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,063,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Harris County-Houston Sports</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Lien Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Insured; Assured</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Guaranty Municipal Corp.) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">0.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2051&nbsp; </FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,687,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Houston,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Combined Utility System First Lien</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Insured;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="18%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="38%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Assured Guaranty Corp.) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2036 &nbsp;</FONT></TD>

   <TD bgColor=#d9d9d9 width="18%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">230,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">232,029</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="39%"></TD>

   <TD width="12%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="65%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Texas - 14.3% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Houston,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Combined Utility System First Lien</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds, Refunding (Insured;</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Assured Guaranty Corp.) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,770,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,811,547</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Love Field Airport Modernization</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Special Facilities Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Southwest Airlines Company - Love</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Field Modernization Program</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">11/1/2028</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,083,830</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">New Hope Cultural Education Facilities</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Finance Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Student Housing Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(National Campus and Community</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Development Corporation - College</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Station Properties LLC - Texas A&amp;M</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">University Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2035</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">451,675</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tarrant County Cultural Education</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Facilities Finance Corporation,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Retirement Facility Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Buckingham Senior Living</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Community, Inc. Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>11/15/2045</FONT></TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,370,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0377),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(San Antonio, Electric and Gas</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Systems Junior Lien Revenue Bonds)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Non-recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2/1/2021</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">12,450,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">13,540,001</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2016-XM0443),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Texas A&amp;M University System Board</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">of Regents, Financing System</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2039</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">13,157,245</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">13,668,570</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2017-XF2422),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Leander Independent School</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">District, Unlimited Tax School</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Building Bonds (Permanent School</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Fund Guarantee Program)) Recourse</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/15/2040</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9,997,299</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,144,549</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">56,684,196</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">U.S. Related - 1.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Public Improvement GO, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Municipal Corp.) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2035</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,595,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Puerto Rico Highway &amp; Transportation</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Highway Revenue Bonds, Refunding</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Municipal Corporation) Ser. CC</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2034</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,218,920</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">4,813,920</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="39%"></TD>

   <TD width="12%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; TEXT-INDENT: 3.96pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="65%" colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Utah - .5%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Utah Infrastructure Agency,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Telecommunication Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Special Limited</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Obligations) Ser. A</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=center><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>10/15/2040</FONT></TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">2,081,000</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Virginia - 5.6%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Chesterfield County Economic</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Development Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Retirement Facilities First Mortgage</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Brandermill Woods</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.13</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2043</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">700,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">710,696</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Henrico County Industrial Development</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Bon Secours Health</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">System, Inc.) (Insured; Assured</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Guaranty Municipal Corp.) (Escrowed</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">To Maturity)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">7.15</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8/23/2027</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5,450,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">g</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,141,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XM0593),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Hampton Roads Transportation</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Accountability Commission, Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds) Recourse</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.50</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1/1/2026</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7,500,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8,828,662</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Virginia College Building Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Educational Facilities Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Marymount University Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Green Bonds)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2045</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">1,028,860</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Virginia Small Business Financing</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Private Activity Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Transform 66 P3 Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=center><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00 </FONT></TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face=Cambria>12/31/2049</FONT></TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,100,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">4,426,729</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">22,136,572</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Washington - 5.1%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2017-XF2423),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(King County, Server Revenue Bonds)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Recourse</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/1/2020</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">8,575,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9,082,185</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Tender Option Bond Trust Receipts</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Series 2018-XM0680),</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(Washington Convention Center</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Public Facilities District, Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds) Recourse</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">6.09</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2026</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">10,980,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">20,062,235</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Wisconsin - 1.9%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Public Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Higher Education Facilities Revenue</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bonds (Gannon University Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/1/2042</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">750,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">797,197</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Public Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Revenue Bonds (Denver</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">International Airport Great Hall</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="39%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 14.52pt" bgColor=#d9d9d9 width="12%" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">9/30/2049</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,000,000</FONT></TD>

   <TD bgColor=#d9d9d9 width="4%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="13%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2,156,960</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><I><FONT size=2 face=Arial,Italic,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="36%"></TD>

   <TD width="11%"></TD>

   <TD width="13%"></TD>

   <TD width="15%"></TD>

   <TD width="3%"></TD>

   <TD width="14%"></TD>

   <TD width="3%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Coupon</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=3 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Long-Term Municipal Investments - 152.4% (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Wisconsin - 1.9% (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Public Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Senior Living Revenue Bonds,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Refunding (Mary's Woods At</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Marylhurst Project)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.25</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5/15/2042</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">750,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">781,882</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Public Finance Authority,</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Student Housing Revenue Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(CHF- Wilmington, LLC. - University</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">of North Carolina) (Insured; Assured</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">5.00</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">7/1/2058</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,665,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">3,916,969</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">7,653,008</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Total Long-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.874pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(cost $577,182,508)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">602,097,445</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Annualized</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Principal</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Yield (%)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Date</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Amount ($)</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 colSpan=2 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Short-Term Municipal Investments - .1%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">U. S. Government Securities</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">U.S. Treasury Bills</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(cost $347,574)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">2.45</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">6/13/2019</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">350,000</FONT></TD>

   <TD bgColor=#d9d9d9 align=left><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">h,i</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">347,587</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Total Investments </FONT></B><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(cost $577,530,082)</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">152.5</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">602,445,032</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Liabilities, Less Cash and Receivables</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">(40.0</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">%)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">(158,138,400</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Preferred Stock, at redemption value</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">(12.5</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">%)</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">(49,300,000</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 colSpan=2 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">Net Assets Applicable to Common Shareholders</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">100.0</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">%</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">395,006,632</FONT></B></TD>

   <TD bgColor=#d9d9d9 align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>a </SUP>Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>b </SUP>Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10.8pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2019, these securities were valued</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10.8pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">at $256,891,192 or 65.03% of net assets.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>c </SUP>Collateral for floating rate borrowings.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>d </SUP>These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10.8pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10.8pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">the bonds in full at the earliest refunding date.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>e </SUP>Security issued with a zero coupon. Income is recognized through the accretion of discount.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>f </SUP>The Variable Rate shall be determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10.799pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">may, but need not, be established by reference to one or more financial indices.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>g </SUP>Variable rate security&#8212;rate shown is the interest rate in effect at period end.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>h </SUP>Held by a counterparty for open exchange traded derivative contracts.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif"><SUP>i </SUP>Security is a discount security. Income is recognized through the accretion of discount.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>STATEMENT OF FINANCIAL FUTURES</FONT><BR><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>Dreyfus Strategic Municipal Bond Fund, Inc.</FONT><BR><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>February 28, 2019 (Unaudited)</FONT></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="24%"></TD>

   <TD width="14%"></TD>

   <TD width="12%">&nbsp;</TD>

   <TD width="17%"></TD>

   <TD width="15%"></TD>

   <TD width="17%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="24%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Number of</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Notional</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="15%" align=left>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Unrealized</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="24%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Description</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="14%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Contracts </FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="12%" align=right><FONT size=1 face=Cambria>Expiration</FONT>&nbsp;&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="15%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Value ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#d9d9d9 width="17%" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Appreciation ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="24%" align=left><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">Futures Short</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="15%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="24%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">U.S. Treasury Ultra Long</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="15%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" bgColor=#d9d9d9 width="24%" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Bond</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">78 </FONT></TD>

   <TD bgColor=#d9d9d9 width="12%" align=right><FONT color=#141414 size=1 face=Cambria>3/19</FONT>&nbsp;&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">12,489,099</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="15%" align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">12,365,438</FONT>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">123,661</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#d9d9d9 width="24%" align=left><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">Gross Unrealized Appreciation</FONT></B>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="14%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="12%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="15%" align=left>&nbsp;</TD>

   <TD bgColor=#d9d9d9 width="17%" align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">123,661</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>STATEMENT OF FINANCIAL FUTURES</FONT><BR><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>Dreyfus Strategic Municipal Bond Fund, Inc.</FONT><BR><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>February 28, 2019 (Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The following is a summary of the inputs used as of February 28, 2019 in valuing the fund&#8217;s investments:</FONT></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="27%"></TD>

   <TD width="16%"></TD>

   <TD width="16%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="3%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Level 2 - Other</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Level 3 -</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Level 1 -</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Significant</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Significant</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Unadjusted</FONT>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Observable</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Unobservable</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Quoted Prices</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Inputs</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Inputs</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Cambria,Times New Roman,Times,serif">Total</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">Assets ($)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Investments in Securities:</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Municipal Bonds</FONT><SUP><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">&#8224;</FONT></SUP>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">-</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">602,445,032</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">-</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">602,445,032</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Other Financial Instruments:</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT size=1 face="Cambria,Times New Roman,Times,serif">Futures</FONT><SUP><FONT size=1 face="Cambria,Times New Roman,Times,serif">&#8224;&#8224;</FONT></SUP>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">123,661</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">-</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">-</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">123,661</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT size=1 face="Cambria,Bold,Times New Roman,Times,serif">Liabilities ($)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">Floating Rate Notes</FONT><SUP><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">&#8224;&#8224;&#8224;</FONT></SUP>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">-</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">(162,356,715</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">)</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face="Cambria,Times New Roman,Times,serif">-</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">(162,356,715</FONT></B></TD>

   <TD align=left><B><FONT color=#141414 size=1 face="Cambria,Bold,Times New Roman,Times,serif">)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="2%"></TD>

   <TD width="97%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><SUP><I><FONT size=1 face="Agency FB,Arial,Helvetica,sans-serif">&#8224;</FONT></I>&nbsp;</SUP></TD>

   <TD style="TEXT-INDENT: 1.44pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">See Statement of Investments for additional detailed categorizations.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><SUP><I><FONT size=1 face="Agency FB,Arial,Helvetica,sans-serif">&#8224;&#8224;</FONT></I>&nbsp;</SUP></TD>

   <TD style="TEXT-INDENT: 1.44pt" align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">Amount shown represents unrealized appreciation at period end.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><SUP><I><FONT size=1 face="Agency FB,Arial,Helvetica,sans-serif">&#8224;&#8224;&#8224;</FONT></I>&nbsp;</SUP></TD>

   <TD align=left><I><FONT size=1 face="Garamond,Italic,Times New Roman,Times,serif">Certain of the fund&#8217;s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>NOTES</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification is the exclusive reference of authoritative U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (&#8220;SEC&#8221;) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund&#8217;s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This 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).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">Various inputs are used in determining the value of the fund&#8217;s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below: </FONT><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif"></FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif">Level 1</FONT></B><FONT size=2 face="Garamond,Times New Roman,Times,serif">&#8212;unadjusted quoted prices in active markets for identical investments.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif">Level 2</FONT></B><FONT size=2 face="Garamond,Times New Roman,Times,serif">&#8212;other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif">Level 3</FONT></B><FONT size=2 face="Garamond,Times New Roman,Times,serif">&#8212;significant unobservable inputs (including the fund&#8217;s own assumptions in determining the fair value of investments).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund&#8217;s investments are as follows: Investments in securities are valued each business day by an independent pricing service (the &#8220;Service&#8221;) approved by the fund's Board Members (the &#8220;Board&#8221;). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at</FONT></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>NOTES</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">fair value as determined by the Service, based on methods which include consideration of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. All of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The Service is engaged under the general supervision of the Board.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif">Inverse Floater Securities: </FONT></B><FONT size=2 face="Garamond,Times New Roman,Times,serif">The fund participates in secondary inverse floater structures in which fixed-rate, tax-exempt municipal bonds are transferred to a trust (the &#8220;Inverse Floater Trust&#8221;). The Inverse Floater Trust typically issues two variable rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt municipal bonds. One of these variable rate securities pays interest based on a short-term floating rate set by a remarketing agent at predetermined intervals (&#8220;Trust Certificates&#8221;). A residual interest tax-exempt security is also created by the Inverse Floater Trust, which is transferred to the fund, and is paid interest based on the remaining cash flows of the Inverse Floater Trust, after payment of interest on the other securities and various expenses of the Inverse Floater Trust. An Inverse Floater Trust may be collapsed without the consent of the fund due to certain termination events such as bankruptcy, default or other credit event.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The fund accounts for the transfer of bonds to the Inverse Floater Trust as secured borrowings, with the securities transferred remaining in the fund&#8217;s investments, and the Trust Certificates reflected as fund liabilities in the Statement of Assets and Liabilities.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">The fund may invest in inverse floater securities on either a non-recourse or recourse basis. These securities are typically supported by a liquidity facility provided by a bank or other financial institution (the &#8220;Liquidity Provider&#8221;) that allows the holders of the Trust Certificates to tender their certificates in exchange for payment from the Liquidity Provider of par plus accrued interest on any business day prior to a termination event. When the fund invests in inverse floater securities on a non-recourse basis, the Liquidity</FONT></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=3 face=Arial,Arial,Helvetica,sans-serif>NOTES</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">Provider is required to make a payment under the liquidity facility due to a termination event to the holders of the Trust Certificates. When this occurs, the Liquidity Provider typically liquidates all or a portion of the municipal securities held in the Inverse Floater Trust. A liquidation shortfall occurs if the Trust Certificates exceed the proceeds of the sale of the bonds in the Inverse Floater Trust (&#8220;Liquidation Shortfall&#8221;). When a fund invests in inverse floater securities on a recourse basis, the fund typically enters into a reimbursement agreement with the Liquidity Provider where the fund is required to repay the Liquidity Provider the amount of any Liquidation Shortfall. As a result, a fund investing in a recourse inverse floater security bears the risk of loss with respect to any Liquidation Shortfall.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif">Derivatives: </FONT></B><FONT size=2 face="Garamond,Times New Roman,Times,serif">A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at February 28, 2019 is discussed below.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Garamond,Bold,Times New Roman,Times,serif">Futures: </FONT></B><FONT size=2 face="Garamond,Times New Roman,Times,serif">In the normal course of pursuing its investment objective, the fund is exposed to market risk, including interest rate risk as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">At February 28, 2019, accumulated net unrealized appreciation on investments was $24,914,950, consisting of $26,857,933 gross unrealized appreciation and $1,942,983 gross unrealized depreciation.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">At February 28, 2019, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement of Investments).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Garamond,Times New Roman,Times,serif">Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.</FONT></P></DIV>

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<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controls and Procedures.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.</FONT></P></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 24pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">SIGNATURES<BR><BR></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">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.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Dreyfus Strategic Municipal Bond Fund, Inc.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Bradley J. Skapyak</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; April 16, 2019</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">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.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Bradley J. Skapyak</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; April 16, 2019</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/s/ James Windels</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; April 16, 2019</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">EXHIBIT INDEX</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.&nbsp; (EX-99.CERT)</FONT></P></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">SECTION 302 CERTIFICATION</FONT></B></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">I, Bradley J. Skapyak, certify that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.&nbsp; I have reviewed this report on Form N-Q of Dreyfus Strategic Municipal Bond Fund, Inc.;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">2.&nbsp; 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;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">3.&nbsp; Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">4.&nbsp; The registrant's other certifying officer(s) 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:</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(a) 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;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(b) 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;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(c) 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</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; </FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">5.&nbsp; The registrant's other certifying officer(s) 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):</FONT></P>

<P style="MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(a) 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</FONT></P>

<P style="MARGIN: 0in 0in 0pt 13.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(b) 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.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Bradley J. Skapyak</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; April 16, 2019</FONT></P></DIV>

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<P style="TEXT-ALIGN: center; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">SECTION 302 CERTIFICATION</FONT></B></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">I, James Windels, certify that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.&nbsp; I have reviewed this report on Form N-Q of Dreyfus Strategic Municipal Bond Fund, Inc.;</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.&nbsp; 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;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">3.&nbsp; Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">4.&nbsp; The registrant's other certifying officer(s) 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:</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(a) 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;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(b) 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;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(c) 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</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; </FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">5.&nbsp; The registrant's other certifying officer(s) 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):</FONT></P>

<P style="MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(a) 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</FONT></P>

<P style="MARGIN: 0in 0in 0pt 13.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">(b) 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.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/s/ James Windels</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; April 16, 2019</FONT></P></DIV>

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