<SEC-DOCUMENT>0000855887-19-000011.txt : 20190729
<SEC-HEADER>0000855887-19-000011.hdr.sgml : 20190729
<ACCEPTANCE-DATETIME>20190729144500
ACCESSION NUMBER:		0000855887-19-000011
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20190531
FILED AS OF DATE:		20190729
DATE AS OF CHANGE:		20190729
EFFECTIVENESS DATE:		20190729

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BNY MELLON 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-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05877
		FILM NUMBER:		19980697

	BUSINESS ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286
		BUSINESS PHONE:		2129226400

	MAIL ADDRESS:	
		STREET 1:		C/O BNY MELLON INVESTMENT ADVISER, INC.
		STREET 2:		240 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10286

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.
		DATE OF NAME CHANGE:	20181030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREYFUS STRATEGIC MUNICIPAL BOND FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>lp1852.htm
<DESCRIPTION>SEMI-ANNUAL REPORT
<TEXT>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 24pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" 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: 11pt" face="Times New Roman">FORM N-CSR</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT<BR>INVESTMENT COMPANIES</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="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">BNY Mellon 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 BNY Mellon Investment Adviser, Inc.</FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" face="Times New Roman">240 Greenwich Street</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; 10286</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">240 Greenwich Street</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; 10286</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">11/30</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">05/31/2019</FONT></P></TD>

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<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; Reports to Stockholders.</FONT></B></P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 24pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#292526>BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></P>

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   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 16pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=arial>SEMIANNUAL REPORT</FONT></B></P>

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 16pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=arial>May 31, 2019</FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-STYLE: normal">BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></B></P>

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-STYLE: normal">Protecting Your Privacy<BR>Our Pledge to You</FONT></B></P>

   <P style="TEXT-ALIGN: justify; MARGIN-LEFT: 5.75pt"><FONT><B><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=bembo>THE FUND IS COMMITTED TO YOUR PRIVACY.</FONT></B></FONT><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=bembo> On this page, you will find the Fund&#8217;s policies and practices for collecting, disclosing, and safeguarding &#8220;nonpublic personal information,&#8221; which may include financial or other customer information. These policies apply to individuals who purchase Fund shares for personal, family, or household purposes, or have done so in the past. This notification replaces all previous statements of the Fund&#8217;s consumer privacy policy, and may be amended at any time. We&#8217;ll keep you informed of changes as required by law.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN-LEFT: 5.75pt"><FONT><B><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=bembo>YOUR ACCOUNT IS PROVIDED IN A SECURE ENVIRONMENT.</FONT></B></FONT><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=bembo> The Fund maintains physical, electronic and procedural safeguards that comply with federal regulations to guard nonpublic personal information. The Fund&#8217;s agents and service providers have limited access to customer information based on their role in servicing your account.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN-LEFT: 5.75pt"><FONT><B><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=bembo>THE FUND COLLECTS INFORMATION IN ORDER TO SERVICE AND ADMINISTER YOUR ACCOUNT. </FONT></B></FONT><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=bembo>The Fund collects a variety of nonpublic personal information, which may include:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN-LEFT: 19.7pt; TEXT-INDENT: -13.7pt"><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=bembo>&#8226;<FONT style="WORD-SPACING: 7.85pt">&nbsp;</FONT>Information we receive from you, such as your name, address, and social security number.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN-LEFT: 19.7pt; TEXT-INDENT: -13.7pt"><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=bembo>&#8226;<FONT style="WORD-SPACING: 7.85pt">&nbsp;</FONT>Information about your transactions with us, such as the purchase or sale of Fund shares.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN-LEFT: 19.7pt; TEXT-INDENT: -13.7pt"><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=bembo>&#8226;<FONT style="WORD-SPACING: 7.85pt">&nbsp;</FONT>Information we receive from agents and service providers, such as proxy voting information.</FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 5.75pt"><B><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=bembo>THE FUND DOES NOT SHARE NONPUBLIC PERSONAL INFORMATION WITH ANYONE, EXCEPT AS PERMITTED BY LAW.</FONT></B></P>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 5.75pt"><B><I><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: top" face=bembo>Thank you for this opportunity to serve you.</FONT></I></B></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal">The views expressed in this report reflect those of the portfolio manager(s) only through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon Family of Funds.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 9.5pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal">Not FDIC-Insured &#8226; Not Bank-Guaranteed &#8226; May Lose Value</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 108pt"><FONT style="FONT-SIZE: 28pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>Contents</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 108pt"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">THE FUND</FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 108pt">
   <A href="#1"><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal">A Letter from the President of </FONT></A></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 108pt"><FONT><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">BNY Mellon Investment Adviser, Inc.</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right">
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   <A href="#4"><FONT><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">Statement of Assets and Liabilities</FONT></FONT></A></P></TD>

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   <A href="#7"><FONT><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">Statement of Changes in Net Assets</FONT></FONT></A></P></TD>

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   <A href="#9"><FONT><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">Notes to Financial Statements</FONT></FONT></A></P></TD>

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   <A href="#10"><FONT><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">Proxy Results</FONT></FONT></A></P></TD>

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   <A href="#11"><FONT><FONT style="FONT-SIZE: 10.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">Officers and Directors</FONT></FONT></A></P></TD>

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<P style="TEXT-ALIGN: left; MARGIN-LEFT: 108pt"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">FOR MORE INFORMATION </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN-LEFT: 108pt"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Back Cover</FONT></P>

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   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#141414 face=arial><BR><FONT>BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT><BR></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 28pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>The Fund</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left"><A name="1"></A><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>A LETTER FROM THE PRESIDENT OF BNY MELLON INVESTMENT ADVISER, INC.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>Dear Shareholder:</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>We are pleased to present this semiannual report for BNY Mellon Strategic Municipal Bond Fund, Inc. (formerly Dreyfus Strategic Municipal Bond Fund, Inc.), covering the six-month period from December 1, 2018 through May 31, 2019. For information about how the fund performed during the reporting period, as well as general market perspectives, we provide a Discussion of Fund Performance on the pages that follow.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>U.S. equity markets experienced a sharp sell-off in December 2018, triggered in part by heightened concerns over rising interest rates, trade tensions and slowing global growth. The slump largely erased prior gains on U.S. indices, while losses deepened in international markets. In December, it appeared that the U.S. Federal Reserve (the &#8220;Fed&#8221;) would maintain its hawkish stance on monetary policy. However, comments made by the Fed in January indicated that it would slow the pace of interest-rate increases; this helped stimulate a rebound across equity markets that continued through much of the reporting period. However, in May, escalating trade tensions once again disrupted equity market progress, causing stock prices to pull back.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>At the end of 2018, equity volatility and global growth concerns triggered a flight to quality in many areas of the bond market, raising Treasury prices and flattening the yield curve. After encouraging comments by the Fed in January, fixed-income markets rallied, and bond prices benefited from falling rates through the end of the period.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>We remain positive on the near-term economic outlook for the U.S. but will monitor relevant data for any signs of a change. As always, we encourage you to discuss the risks and opportunities in today&#8217;s investment environment with your financial advisor.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>Thank you for your continued confidence and support.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>Sincerely,</FONT></P>

<P style="TEXT-ALIGN: justify">
<IMG src="x19072912452500.jpg"></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414>Renee LaRoche-Morris<BR></FONT><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414>President<BR></FONT><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414>BNY Mellon Investment Adviser, Inc.<BR></FONT><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414>June 17, 2019</FONT></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>2</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>DISCUSSION OF FUND PERFORMANCE</FONT></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> </FONT><FONT><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>(Unaudited)</FONT></FONT></P>

<P style="TEXT-ALIGN: left"><A name="2"></A></P>

<P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal">For the period from December 1, 2018 through May 31, 2019, as provided by Daniel Rabasco and Jeffrey Burger, Portfolio Managers</FONT></I></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 9pt; FONT-STYLE: normal" face=arial>Market and Fund Performance Overview</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">For the six-month period ended May 31, 2019, BNY Mellon Strategic Municipal Bond Fund, Inc. (formerly, Dreyfus Strategic Municipal Bond Fund, Inc.) achieved a total return of 7.24% on a net-asset-value basis.<SUP><FONT style="FONT-SIZE: 9pt">1</FONT><FONT style="FONT-SIZE: 9pt"> </FONT></SUP>Over the same period, the fund provided aggregate income dividends of $0.21 per share, which reflects an annualized distribution rate of 5.28%.<FONT style="FONT-SIZE: 9pt"><SUP>2</SUP></FONT></FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Municipal bonds encountered bouts of volatility during the reporting period stemming from shifting Federal Reserve policy and changing supply-and-demand dynamics in the municipal securities market.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 9pt; FONT-STYLE: normal" face=arial>The Fund&#8217;s Investment Approach</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund seeks to maximize current income exempt from federal income tax to the extent believed by BNY Mellon Investment Adviser, Inc. to be consistent with the preservation of capital. In pursuing this goal, the fund invests at least 80% of its assets in municipal bonds. Under normal market conditions, the weighted average maturity of the fund&#8217;s portfolio is expected to exceed 10 years. Under normal market conditions, the fund invests at least 80% of its net assets in municipal bonds considered investment grade or the unrated equivalent as determined by BNY Mellon Investment Adviser, Inc.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund also has issued auction-rate preferred stock (ARPS), a percentage of which remains outstanding from its initial public offering, and has invested the proceeds in a manner consistent with its investment objective. This, along with the fund&#8217;s participation in secondary inverse floater structures, has the effect of leveraging the portfolio, which can magnify gain and loss potential depending on market conditions.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Over time, many of the fund&#8217;s older, higher-yielding bonds have matured or were redeemed by their issuers. We have attempted to replace those bonds with investments consistent with the fund&#8217;s investment policies. We have also sought to upgrade the fund with newly issued bonds that, in our opinion, have better structural or income characteristics than existing holdings. When such opportunities arise, we usually look to sell bonds that are close to their optional redemption date or maturity.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 9pt; FONT-STYLE: normal" face=arial>A Shift in Federal Reserve Policy Drove Municipal Bonds</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Municipal bonds struggled during the first half of the reporting period, as the economy continued to perform well, and the Federal Reserve (the &#8220;Fed&#8221;) continued on a path of raising short-term interest rates. The Fed hiked the federal funds policy rate once during the reporting period, bringing the target range to 2.25%-2.50%. Flows into municipal bond funds remained robust, however, driven in part by the effects of the Tax Cuts and Jobs Act of 2017, which capped the federal tax deductibility of state and local taxes. Supply also was manageable, as new issuance for 2018 came in approximately 24% below that of 2017.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Toward the end of 2018, economic data became more mixed, and investors became increasingly concerned about the effect of the Fed&#8217;s hawkish stance on interest rates. This resulted in some volatility in capital markets that resulted in a flight to quality in which higher-quality securities, including municipal bonds, rallied strongly. The Fed&#8217;s shift to a more dovish stance also fed demand, as it confirmed investor concerns about a possible weakening of the economy.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">As 2019 progressed, supply continued to be manageable, while demand rallied. Fund flows surged, hitting record levels. Contributing to this was ongoing demand, especially in high-tax states, from higher-income earners seeking shelter from the effects of the new cap on the deductibility of state and </FONT></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>3</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>DISCUSSION OF FUND PERFORMANCE</FONT></FONT><FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> </FONT></FONT><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>(Unaudited)</FONT><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial> (continued)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">local taxes. The stability of the municipal bond market relative to that of the equity markets also attracted investors.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The flight to quality caused rates to fall, and investors then began to reach for yield. As a result, longer-term municipals, especially those 10 years and longer, experienced a greater compression of yields than did shorter maturities, resulting in a flatter municipal bond yield curve. Investors also began to reach for the yield available from lower-quality issues, resulting in a tightening of quality spreads. The ratio of municipal bond yields to Treasury yields fell significantly, especially for longer-dated bonds, reflecting the outperformance of municipal bonds versus Treasuries.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Although long-term obligations, including pension and health care liabilities, remain a concern, credit quality remained stable to strong during the reporting period. Driven by continued economic strength, tax revenues were healthy, allowing many issuers to increase their &#8220;rainy day&#8221; funds.</FONT></FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 9pt; FONT-STYLE: normal" face=arial>Allocation and Interest-Rate Strategies Supported Fund Results</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund&#8217;s performance was supported by its longer duration and its yield curve positioning, as longer-dated bonds outperformed during the period. Asset allocation strategies, on the other hand, produced a largely neutral effect.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">On the other hand, some of the fund&#8217;s holdings weighed to a degree on the fund&#8217;s results. Most notably, security selection in the tobacco sector hindered returns, as did a lack of exposure to Puerto Rico bonds, which outperformed. Higher interest rates also detracted from results, as this raised the cost of the fund&#8217;s borrowings.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 9pt; FONT-STYLE: normal" face=arial>A Constructive Investment Posture</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The economy remains strong, employment continues to be robust, and we expect this to continue for the remainder of the year. One risk to this outlook is a deterioration in trade relations, which could derail the economy&#8217;s momentum. Despite record-low unemployment, inflation remains subdued, so we anticipate that the Fed will leave short-term interest rates unchanged.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">With demand for municipal bonds likely to remain strong and supply likely to be manageable, the municipal bond market is likely to perform relatively well. In addition, the cap on federal deductibility of state and local taxes will continue to help drive demand for municipal securities, encouraging the reinvestment of the proceeds of a large number of bonds that are due to mature in the coming months. We expect to keep the fund&#8217;s duration slightly long relative to the benchmark, and we will continue to focus on security selection, emphasizing undervalued issues and relying on our credit research capabilities.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal">June 17, 2019</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">1</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Total return includes reinvestment of dividends and any capital gains paid, based upon net asset value per share. Past performance is no guarantee of future results. Income may be subject to state and local taxes, and some income may be subject to the federal alternative minimum tax (AMT) for certain investors. Capital gains, if any, are fully taxable. Return figures provided reflect the absorption of certain fund expenses by BNY Mellon Investment Adviser, Inc. pursuant to an undertaking in effect through November 30, 2019, at which time it may be extended, terminated, or modified. Had these expenses not been absorbed, the fund&#8217;s returns would have been lower.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">2</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Distribution rate per share is based upon dividends per share paid from net investment income during the period, annualized and divided by the market price per share at the end of the period, adjusted for any capital gain distributions.</FONT></I></P>

<P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Bonds are subject generally to interest-rate, credit, liquidity, and market risks, to varying degrees, all of which are more fully described in the fund&#8217;s prospectus. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes, and rate increases can cause price declines.</FONT></I></P>

<P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer&#8217;s perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.</FONT></I></P>

<P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">The use of leverage may magnify the fund&#8217;s gains or losses. For derivatives with a leveraging component, adverse changes in the value or level of the underlying asset can result in a loss that is much greater than the original investment in the derivative.</FONT></I></P>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>4</FONT></B></P>

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<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>STATEMENT OF INVESTMENTS</FONT></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>May 31, 2019 (Unaudited)</FONT></P>

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   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Alabama - 4.3% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Birmingham Special Care Facilities Financing Authority,<BR>Revenue Bonds (Methodist Home for the Aging Obligated Group)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2030</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,800,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,044,242</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Birmingham Special Care Facilities Financing Authority,<BR>Revenue Bonds (Methodist Home for the Aging Obligated Group)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2050</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,750,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,086,132</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Jefferson County,<BR>Revenue Bonds, Refunding, Ser. F</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>0/7.75</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>a</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,620,680</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Lower Alabama Gas District,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,656,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>17,407,054</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Arizona - 3.3% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Arizona Industrial Development Authority,<BR>Revenue Bonds, Refunding (BASIS Schools Projects) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,610,670</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Phoenix Industrial Development Authority,<BR>Revenue Bonds (Legacy Traditional Schools Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.75</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2044</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,142,390</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Phoenix Industrial Development Authority,<BR>Revenue Bonds, Refunding (BASIS Schools Projects)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,052,330</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Phoenix Industrial Development Authority,<BR>Revenue Bonds, Refunding (BASIS Schools Projects) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,103,560</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Pima County Industrial Development Authority,<BR>Revenue Bonds (American Leadership Academy Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2052</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,534,215</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XF2537),<BR>(Salt Verde Financial Corporation, Senior Gas Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12.49</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2037</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,550,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,857,033</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>13,300,198</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>California - 9.3% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>California,<BR>GO (Various Purpose)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3/1/2033</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,250,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,327,580</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>5</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>California - 9.3% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>California,<BR>GO (Various Purpose)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2035</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,095,500</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Golden State Tobacco Securitization Corporation,<BR>Revenue Bonds, Refunding, Ser. A-1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>995,010</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>San Buenaventura,<BR>Revenue Bonds (Community Memorial Health System)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2041</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,669,200</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0379),<BR>(Los Angeles Department of Water and Power, Water System Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.41</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,505,050</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0387),<BR>(Los Angeles Department of Airports, Senior Revenue Bonds (Los Angeles International Airport)) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.20</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/15/2038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,636,105</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0390),<BR>(The Regents of the University of California, General Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.41</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/15/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,260,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7,053,690</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0440),<BR>(Los Angeles Department of Airports, Senior Revenue Bonds (Los Angeles International Airport)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/15/2031</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,247,500</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,423,355</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tobacco Securitization Authority,<BR>Revenue Bonds, Refunding, Ser. C</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>0.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>26,185,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,084,855</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>37,790,345</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Colorado - 4.2% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Belleview Station Metropolitan District Number 2,<BR>GO, Refunding</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,375,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,464,039</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Colorado Educational &amp; Cultural Facilities Authority,<BR>Revenue Bonds, Refunding (Johnson &amp; Wales University) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4/1/2031</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,685,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,888,067</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Denver City and County,<BR>Revenue Bonds, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2048</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,300,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,721,061</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>6</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Colorado - 4.2% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Dominion Water and Sanitation District,<BR>Revenue Bonds</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,210,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,377,297</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Sterling Ranch Community Authority,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,250,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,271,588</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0385),<BR>(Board of Governors of the Colorado State University, System Enterprise Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.26</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3/1/2038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,960,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,427,071</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>17,149,123</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Connecticut - .5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Connecticut Housing Finance Authority,<BR>Revenue Bonds, Refunding, Ser. A-1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.65</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2032</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>2,133,820</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>District of Columbia - 4.0% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0437),<BR>(District of Columbia, Income Tax Secured Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.01</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2035</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14,834,680</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>16,339,753</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Florida - 8.5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlantic Beach,<BR>Revenue Bonds (Fleet Landing Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2053</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,781,775</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Cape Coral Health Facilities Authority,<BR>Revenue Bonds, Refunding (Gulf Care, Inc. Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.88</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,600,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,738,752</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Florida Higher Educational Facilities Financial Authority,<BR>Revenue Bonds, Refunding (Saint Leo University Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3/1/2049</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,494,960</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Mid-Bay Bridge Authority,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2021</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,643,300</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Palm Beach County Health Facilities Authority,<BR>Revenue Bonds (Acts Retirement - Life Communities, Inc. Obligated Group)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,775,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,618,381</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>7</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Florida - 8.5% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Palm Beach County Health Facilities Authority,<BR>Revenue Bonds (Adult Communities Total Services, Inc. Retirement - Life Communities, Inc. Obligated Group)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2020</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,825,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7,216,345</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Saint Johns County Industrial Development Authority,<BR>Revenue Bonds (Presbyterian Retirement Communities Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/1/2020</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,678,850</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>South Lake County Hospital District,<BR>Revenue Bonds (South Lake Hospital, Inc.) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4/1/2039</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,506,975</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>34,679,338</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Georgia - 5.1% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlanta,<BR>Revenue Bonds (Proctor Creek Watershed Project) Ser. D</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2028</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,025,790</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlanta,<BR>Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2034</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>275,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>279,120</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlanta,<BR>Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>725,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>736,310</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlanta,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,865,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,955,732</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlanta Development Authority,<BR>Revenue Bonds (Georgia Proton Treatment Center Project) Ser. A1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,607,655</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Atlanta Development Authority,<BR>Revenue Bonds (New Downtown Atlanta Stadium Project) Ser. A1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,172,890</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Burke County Development Authority,<BR>Revenue Bonds, Refunding (Oglethorpe Power Corp-Vogtle) Ser. D</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,200,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,425,414</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0435),<BR>(Private Colleges and Universities Authority, Revenue Bonds (Emory University)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.01</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,649,050</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>20,851,961</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>8</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Hawaii - 1.8% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Hawaii Department of Budget and Finance,<BR>Revenue Bonds (Hawai'i Pacific Health Obligated Group) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.63</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2020</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,609,525</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Hawaii Department of Budget and Finance,<BR>Revenue Bonds (Hawaiian Electric Company, Inc. and Subsidiary Projects)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2039</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,008,320</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Hawaii Department of Budget and Finance,<BR>Revenue Bonds, Refunding (Hawaiian Electric Company, Inc.)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3/1/2037</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,585,725</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>7,203,570</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Illinois - 14.1% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago,<BR>GO, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,485,610</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago,<BR>GO, Refunding, Ser. C</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2024</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,265,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,378,534</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago,<BR>GO, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2049</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,408,630</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago,<BR>Revenue Bonds, Refunding, Ser. C</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2039</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,330,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,554,053</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago Board of Education,<BR>GO, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2033</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,250,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,398,038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago O'Hare International Airport,<BR>Revenue Bonds (General Airport Third Lien) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.63</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2035</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>580,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>615,177</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago O'Hare International Airport,<BR>Revenue Bonds (General Airport Third Lien) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.63</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2021</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,420,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,579,478</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chicago O'Hare International Airport,<BR>Revenue Bonds, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2048</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,681,200</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Illinois,<BR>GO, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2029</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,316,760</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Illinois,<BR>GO, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/1/2038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,850,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,166,464</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Illinois,<BR>GO, Ser. C</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2029</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,292,715</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Illinois Finance Authority,<BR>Revenue Bonds, Refunding (Plymouth Place, Inc.)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/15/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,057,420</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>9</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Illinois - 14.1% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Pier and Exposition Authority,<BR>Revenue Bonds (Capital Appreciation-McCormick Place Expansion Project) (Insured; National Public Finance Corporation) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>0.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/15/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,339,450</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Pier and Exposition Authority,<BR>Revenue Bonds (McCormick Place Expansion Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2053</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,683,200</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Pier and Exposition Authority,<BR>Revenue Bonds, Refunding (McCormick Place Expansion Project) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/15/2028</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,666,225</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Pier and Exposition Authority,<BR>Revenue Bonds, Refunding (McCormick Place Expansion Project) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2052</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,550,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,706,129</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Railsplitter Tobacco Settlement Authority,<BR>Revenue Bonds</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2021</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,600,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,917,448</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2017-XM0492),<BR>(Illinois Finance Authority, Revenue Bonds (The University of Chicago)) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.26</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,343,610</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>57,590,141</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Indiana - 1.0% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Indiana Finance Authority,<BR>Revenue Bonds (Parkview Health System Obligated Group) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>4,106,165</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Iowa - 1.4% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Iowa Finance Authority,<BR>Revenue Bonds, Refunding (Iowa Fertilizer Company Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2025</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,125,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>5,574,719</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Kentucky - 1.5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Christian County,<BR>HR Revenue Bonds, Refunding (Jennie Stuart Medical Center Obligated Group)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/1/2044</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,800,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,111,136</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Kentucky Public Energy Authority,<BR>Revenue Bonds, Ser. A-1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2025</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,560,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,810,086</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>5,921,222</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>10</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Louisiana - 2.9% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Louisiana Local Government Environmental Facilities and Community Development Authority,<BR>Revenue Bonds, Refunding (Westlake Chemical Corporation Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2032</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,400,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,486,352</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XF2584),<BR>(Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan Missionaries of Our Lady Health System Project)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.82</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8,195,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,320,942</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>11,807,294</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Maine - .5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Maine Health and Higher Educational Facilities Authority,<BR>Revenue Bonds (Maine General Medical Center)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2032</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>2,214,720</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Maryland - 2.0% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Maryland Health and Higher Educational Facilities Authority,<BR>Revenue Bonds (Adventist HealthCare Obligated Group) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,250,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,766,847</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0391),<BR>(Mayor and City Council of Baltimore, Project Revenue Bonds (Water Projects)) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.23</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2042</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,490,540</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>8,257,387</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts - 10.6% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts Development Finance Agency,<BR>Revenue Bonds, Refunding (Suffolk University) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2030</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,730,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,736,176</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts Development Finance Agency,<BR>Revenue Bonds, Refunding (Suffolk University) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,270,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,281,903</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts Development Finance Agency,<BR>Revenue Bonds, Refunding (Tufts Medical Center) Ser. I</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2021</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,505,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,637,199</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>11</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts - 10.6% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts Development Finance Agency,<BR>Revenue Bonds, Refunding (Tufts Medical Center) Ser. I</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2021</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>995,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,082,401</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts Development Finance Agency,<BR>Revenue Bonds, Refunding (UMass Memorial Health Care Obligated Group) Ser. K</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,130,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,433,546</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Massachusetts Development Finance Agency,<BR>Revenue Bonds, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2029</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,228,520</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0368),<BR>(Massachusetts Development Finance Agency, Revenue Bonds (Harvard University Issue)) Non-recourse, Underlying Coupon Rate (%) 5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.27</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/1/2034</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,619,975</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0372),<BR>(Massachusetts, Consolidated Loan) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.26</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4/1/2027</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,400,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,805,008</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0386),<BR>(University of Massachusetts Building Authority, Project and Refunding Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.24</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7,409,991</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8,163,344</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XF0610),<BR>(Massachusetts Transportation Fund, Revenue Bonds (Rail Enhancement &amp; Accelerated Bridge Programs)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.56</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,250,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6,194,025</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>43,182,097</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Michigan - 4.4% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Detroit,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,290,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,459,369</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Detroit,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2031</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,780,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,991,718</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Great Lakes Water Authority,<BR>Revenue Bonds, Refunding, Ser. C</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,323,800</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>12</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Michigan - 4.4% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Michigan Finance Authority,<BR>Revenue Bonds, Refunding (Detroit Water and Sewerage Department, Water Supply System Revenue Bonds Senior Lien Local Project Bonds) (Insured; National Public Finance Guarantee Corp.) Ser. D6</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,128,630</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Michigan Strategic Fund,<BR>Revenue Bonds (AMT-I-75 Improvement Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/30/2048</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,815,850</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Michigan Strategic Fund,<BR>Revenue Bonds, Refunding (Genesee Power Station Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2021</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,395,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,388,988</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>18,108,355</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Minnesota - 1.1% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Duluth Economic Development Authority,<BR>Revenue Bonds, Refunding (Essentia Health Obligated Group) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/15/2058</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>4,556,840</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Missouri - 2.3% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Missouri Health and Educational Facilities Authority,<BR>Revenue Bonds, Refunding (Lutheran Senior Services Projects) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,200,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,398,946</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Missouri Health and Educational Facilities Authority,<BR>Revenue Bonds, Refunding (Lutheran Senior Services Projects) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2.88</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/1/2022</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,365,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,373,463</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Saint Louis Land Clearance Redevelopment Authority,<BR>Revenue Bonds (National Geospatial-Intelligence Agency Site Improvements Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,925,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,465,272</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>9,237,681</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Multi-State - .6% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Federal Home Loan Mortgage Corp. Multifamily Variable Rate Certificate,<BR>Revenue Bonds, Ser. M-048, (Supported by pools of tax-exempt multifamily housing)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.15</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>2,612,550</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>13</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Nevada - 1.3% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Reno,<BR>Sales Tax Revenue Bonds, Refunding (Reno Transportation Rail Access Project) (Insured; Assured Guaranty Municipal Corporation) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2058</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>5,254,300</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>New Hampshire - .5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Hampshire Health and Education Facilities Authority,<BR>Revenue Bonds (University System of New Hampshire) (Liquidity Facility; State Street Bank and Trust Co.) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2.18</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2033</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>f</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey - 5.4% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Essex County Improvement Authority,<BR>Revenue Bonds (Covanta Holding Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,009,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey Economic Development Authority,<BR>Revenue Bonds, Refunding (American Water Company, Inc. Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.70</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2039</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,038,010</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey Economic Development Authority,<BR>Revenue Bonds, Refunding, Ser. AA</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/15/2029</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,690,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,692,079</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey Economic Development Authority,<BR>Revenue Bonds, Refunding, Ser. AA</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,310,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,314,104</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey Housing &amp; Mortgage Finance Agency,<BR>Revenue Bonds, Refunding (Single-Family Housing) Ser. D</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2024</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,370,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,570,383</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey Transportation Trust Fund Authority,<BR>Revenue Bonds, Ser. S</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,365,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,552,073</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey Transportation Trust Fund Authority,<BR>Revenue Bonds, Ser. S</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,743,990</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>South Jersey Port Corporation,<BR>Revenue Bonds, Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2042</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,025,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,277,983</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>14</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

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   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

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   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>New Jersey - 5.4% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XF2538),<BR>(New Jersey Economic Development Authority, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.55</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,250,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,703,402</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>21,901,024</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>New Mexico - 1.3% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Farmington,<BR>Revenue Bonds, Refunding (Public Service Company of New Mexico San Juan Project) Ser. D</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.90</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>5,192,000</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>New York - 11.5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New York City Educational Construction Fund,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4/1/2028</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,785,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,028,493</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New York Convention Center Development Corporation,<BR>Revenue Bonds (Insured; Assured Guaranty Municipal Corp.) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>0.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2049</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,600,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,009,840</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New York Counties Tobacco Trust V,<BR>Revenue Bonds, Ser. S2</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>0.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2050</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>27,625,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,992,365</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New York Liberty Development Corporation,<BR>Revenue Bonds, Refunding (3 World Trade Center Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2044</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,400,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,717,866</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New York Transportation Development Corporation,<BR>Revenue Bonds (LaGuardia Airport Terminal B Redevelopment Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,294,960</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New York Transportation Development Corporation,<BR>Revenue Bonds, Refunding (American Airlines Inc.)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/1/2026</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>528,390</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Niagara Area Development Corporation,<BR>Revenue Bonds, Refunding (Convanta Holding Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.75</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2042</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,032,090</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Port Authority of New York and New Jersey,<BR>Revenue Bonds (JFK International Air Terminal LLC Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2036</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,710,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,989,115</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>15</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>New York - 11.5% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0370),<BR>(New York City Transitional Finance Authority, Future Tax Secured Subordinate Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.27</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2025</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,260,650</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0436),<BR>(New York City Municipal Water Finance Authority, Water and Sewer System Second General Resolution Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.01</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/15/2044</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12,600,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13,581,445</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0438),<BR>(New York City Transitional Finance Authority, Future Tax Secured Subordinate Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.97</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2027</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,274,662</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>46,709,876</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>North Carolina - 2.5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0444),<BR>(North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds (Duke University Health System)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.65</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2042</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>10,329,700</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Ohio - 5.2% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Buckeye Tobacco Settlement Financing Authority,<BR>Tobacco Settlement Asset-Backed Bonds, Ser. A2</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.88</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2030</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,909,060</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Buckeye Tobacco Settlement Financing Authority,<BR>Tobacco Settlement Asset-Backed Bonds, Ser. A2</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,085,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,084,909</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Butler County,<BR>Revenue Bonds (UC Health)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2020</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>960,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,012,887</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Butler County,<BR>Revenue Bonds, Refunding (UC Health)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2020</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,040,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,152,384</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Centerville,<BR>Revenue Bonds, Refunding (Graceworks Lutheran Services)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2047</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,623,795</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>16</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

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   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Ohio - 5.2% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Cuyahoga County,<BR>Revenue Bonds, Refunding (The Metrohealth System)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/15/2057</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,097,810</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ohio Air Quality Development Authority,<BR>Revenue Bonds (Ohio Valley Electric Corporation Project) Ser. E</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.63</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,200,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,231,038</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>21,111,883</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Oregon - .4% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Warm Springs Reservation Confederated Tribes,<BR>Revenue Bonds (Pelton Round Butte Project) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.38</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2033</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>1,520,685</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Pennsylvania - 4.9% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Crawford County Hospital Authority,<BR>HR Revenue Bonds, Refunding (Meadville Medical Center Project) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,139,190</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Pennsylvania Higher Educational Facilities Authority,<BR>Revenue Bonds, Refunding (University of Sciences in Philadelphia)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2033</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,805,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,177,448</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Pennsylvania Housing Finance Agency,<BR>Revenue Bonds (Single-Family Housing) Ser. 114A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.35</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2026</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,040,600</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Philadelphia,<BR>GO, Refunding</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/1/2020</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,700,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,969,310</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0373),<BR>(Geisinger Authority, Health System Revenue Bonds (Geisinger Health System)) Non-recourse , Underlying Coupon Rate (%) 5.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.77</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6/1/2041</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,177,105</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XM0594),<BR>(Berks County Industrial Development Authority, Health System Revenue Bonds, Refunding (Tower Health Project)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12.70</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2050</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,920,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,625,159</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>20,128,812</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>17</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>South Carolina - 2.8% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0384),<BR>(South Carolina Public Service Authority, Revenue Bonds Obligations (Santee Cooper)) Non-recourse, Underlying Coupon Rate (%) 5.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,200,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>11,248,832</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Tennessee - 2.2% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Government of Nashville and Davidson County Health and Educational Facilities Board,<BR>Revenue Bonds, Refunding (The Vanderbilt University) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,050,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,077,449</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Government of Nashville and Davidson County Health and Educational Facilities Board,<BR>Revenue Bonds, Refunding (The Vanderbilt University) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>450,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>455,877</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Metropolitan Government of Nashville and Davidson County Health and Educational Facilities Board,<BR>Revenue Bonds, Refunding (The Vanderbilt University) Ser. B</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/1/2019</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,040,170</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0388),<BR>(Metropolitan Government of Nashville and Davidson County, Water and Sewer Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.81</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,340,275</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>8,913,771</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Texas - 13.7% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Central Texas Regional Mobility Authority,<BR>Revenue Bonds</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2048</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,882,550</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Central Texas Regional Mobility Authority,<BR>Revenue Bonds, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,683,600</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Clifton Higher Education Finance Corporation,<BR>Revenue Bonds (International Leadership of Texas) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.75</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/15/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,676,950</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Clifton Higher Education Finance Corporation,<BR>Revenue Bonds (International Leadership) Ser. D</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/15/2048</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,268,290</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>18</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Texas - 13.7% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Clifton Higher Education Finance Corporation,<BR>Revenue Bonds (Uplift Education) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2044</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,567,275</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Harris County-Houston Sports Authority,<BR>Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>0.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2051</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,885,500</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Love Field Airport Modernization Corporation,<BR>Revenue Bonds (Southwest Airlines Company - Love Field Modernization Program Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/1/2028</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,094,190</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>New Hope Cultural Education Facilities Finance Corporation,<BR>Revenue Bonds (National Campus and Community Development Corporation - College Station Properties LLC) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2035</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom"><SUP>&nbsp;</SUP></FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>464,870</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tarrant County Cultural Education Facilities Finance Corporation,<BR>Revenue Bonds (Buckingham Senior Living Community, Inc. Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/15/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>g</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,100,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0377),<BR>(San Antonio, Electric and Gas Systems Junior Lien Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.26</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12,450,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13,696,997</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2016-XM0443),<BR>(Texas A&amp;M University System Board of Regents, Financing System Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.66</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/15/2039</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13,157,245</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13,586,014</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2017-XF2422),<BR>(Leander Independent School District, Unlimited Tax School Building Bonds (Permanent School Fund Guarantee Program)) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.14</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/15/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,997,299</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,066,099</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>55,972,335</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>19</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>U.S. Related - 1.2% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Puerto Rico Commonwealth,<BR>GO, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2035</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,607,250</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Puerto Rico Highway &amp; Transportation Authority,<BR>Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corporation) Ser. CC</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2034</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,199,300</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>4,806,550</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Utah - .5% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Utah Infrastructure Agency,<BR>Revenue Bonds, Refunding, Ser. A</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10/15/2040</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>2,141,100</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Virginia - 5.6% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chesterfield County Economic Development Authority,<BR>Revenue Bonds, Refunding (Brandermill Woods Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2043</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>700,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>718,550</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Henrico County Industrial Development Authority,<BR>Revenue Bonds, Refunding (Bon Secours Health System, Inc.) (Insured; Assured Guaranty Municipal Corp.) (Escrowed To Maturity)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.26</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8/23/2027</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5,450,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7,308,995</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XM0593),<BR>(Hampton Roads Transportation Accountability Commission, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>16.60</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2057</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7,500,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,200,025</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Virginia College Building Authority,<BR>Revenue Bonds (Marymount University Project) (Green Bonds)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2045</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,056,740</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Virginia Small Business Financing Authority,<BR>Revenue Bonds (Transform 66 P3 Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/31/2049</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,100,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,581,053</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>22,865,363</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Washington - 5.6% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>King County School District,<BR>GO (No 210 Federal Way)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12/1/2034</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,244,360</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2017-XF2423),<BR>(King County, Server Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.35</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1/1/2029</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8,575,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,041,323</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>20</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=10><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Description </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Coupon <BR>Rate (%)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Maturity<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Date</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Principal<BR></FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Amount ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value ($)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Long-Term Municipal Investments - 150.0% (continued)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Washington - 5.6% (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tender Option Bond Trust Receipts (Series 2018-XM0680),<BR>(Washington Convention Center Public Facilities District, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.78</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2058</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b,c</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11,554,500</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>22,840,183</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Wisconsin - 2.0% </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Public Finance Authority,<BR>Revenue Bonds (CHF- Wilmington, LLC. - University of North Carolina) (Insured; Assured Guaranty Municipal Corp.)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7/1/2058</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,665,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,113,339</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Public Finance Authority,<BR>Revenue Bonds (Denver International Airport Great Hall Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9/30/2049</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,000,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,274,780</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Public Finance Authority,<BR>Revenue Bonds (Gannon University Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.00</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/1/2042</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>750,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>829,815</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Public Finance Authority,<BR>Revenue Bonds, Refunding (Mary's Woods At Marylhurst Project)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5/15/2042</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>750,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>810,188</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=7><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>8,028,122</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Total Investments </FONT></B></FONT><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>(cost $573,240,615)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>150.0%</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>610,988,869</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Liabilities, Less Cash and Receivables</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>(37.9%)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>(154,363,671)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Preferred Stock, at redemption value</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>(12.1%)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>(49,300,000)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Net Assets Applicable to Common Shareholders</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>100.0%</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>407,325,198</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">a</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">b</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2019, these securities were valued at $262,348,330 or 64.41% of net assets.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">c</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Collateral for floating rate borrowings. The coupon rate given represents the current interest rate for the inverse floating rate security.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">d</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Security issued with a zero coupon. Income is recognized through the accretion of discount.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">e</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">f</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">The Variable Rate shall be determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">g</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Non-income producing&#8212;security in default.</FONT></I></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>21</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>STATEMENT OF INVESTMENTS (Unaudited) (continued)</FONT></I></FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Portfolio Summary (Unaudited) <FONT style="FONT-SIZE: 8pt"><SUP>&#8224;</SUP></FONT></FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value (%)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Education</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>25.4</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Water</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.2</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Medical</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.8</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Prerefunded</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>13.3</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Special Tax</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9.6</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>General Obligation</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9.0</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Development</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.8</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Nursing Homes</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.3</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Transportation</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.9</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Airport</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.3</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Utility-Electric Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.2</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Other</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.6</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Tobacco Settlement</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.7</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Power</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.8</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>School District</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3.4</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Pollution</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.9</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Single Family Housing</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.7</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Housing</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.4</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Industrial Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.4</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Lease Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.3</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Multifamily Housing</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.6</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>County</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.4</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>150.0</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&#8224;</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Based on net assets.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">See notes to financial statements.</FONT></I></P>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>22</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=2 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT><B><FONT style="FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=arial>Summary of Abbreviations </FONT></B></FONT><FONT style="FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>(Unaudited)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>ABAG</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Association of Bay Area Governments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>ACA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>American Capital Access</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>AGC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>ACE Guaranty Corporation</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>AGIC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Asset Guaranty Insurance Company</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>AMBAC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>American Municipal Bond Assurance Corporation</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>ARRN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Adjustable Rate Receipt Notes</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>BAN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Bond Anticipation Notes</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>BPA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Bond Purchase Agreement</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>CIFG</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>CDC Ixis Financial Guaranty</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>COP</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Certificate of Participation</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>CP</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Commercial Paper</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>DRIVERS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Derivative Inverse Tax-Exempt Receipts</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>EDR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Economic Development Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>EIR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Environmental Improvement Revenue</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>EURIBOR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Euro Interbank Offered Rate</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>FGIC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Financial Guaranty Insurance Company</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>FHA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Federal Housing Administration</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>FHLB</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Federal Home Loan Bank</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>FHLMC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Federal Home Loan Mortgage Corporation</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>FNMA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Federal National Mortgage Association</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>GAN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Grant Anticipation Notes</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>GIC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Guaranteed Investment Contract</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>GNMA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Government National Mortgage Association</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>GO</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>General Obligation</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>HR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Hospital Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>IDB</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Industrial Development Board</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>IDC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Industrial Development Corporation</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>IDR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Industrial Development Revenue</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>LIBOR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>London Interbank Offered Rate</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>LIFERS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Long Inverse Floating Exempt Receipts</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>LOC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Letter of Credit</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>LOR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Limited Obligation Revenue</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>LR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Lease Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>MERLOTS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Municipal Exempt Receipts Liquidity Option Tender</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>MFHR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Multi-Family Housing Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>MFMR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Multi-Family Mortgage Revenue</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>MUNIPSA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Securities Industry and Financial Markets Association Municipal Swap Index Yield</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>PCR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Pollution Control Revenue</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>PILOT</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Payment in Lieu of Taxes</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>P-FLOATS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Puttable Floating Option Tax-Exempt Receipts</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>PUTTERS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Puttable Tax-Exempt Receipts</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>RAC</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Revenue Anticipation Certificates</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>RAN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Revenue Anticipation Notes</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>RAW</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Revenue Anticipation Warrants</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>RIB</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Residual Interest Bonds</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>ROCS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Reset Options Certificates</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>RRR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Resources Recovery Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SAAN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>State Aid Anticipation Notes</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SBPA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Standby Bond Purchase Agreement</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SFHR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Single Family Housing Revenue</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SFMR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Single Family Mortgage Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SOFRRATE</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Secured Overnight Financing Rate</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SONYMA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>State of New York Mortgage Agency</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SPEARS</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Short Puttable Exempt Adjustable Receipts</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>SWDR</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Solid Waste Disposal Revenue</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>TAN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Tax Anticipation Notes</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>TAW</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Tax Anticipation Warrants</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>TRAN</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Tax and Revenue Anticipation Notes</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" face=cambria>XLCA</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>XL Capital Assurance</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">See notes to financial statements.</FONT></I></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>23</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>STATEMENT OF ASSETS AND LIABILITIES</FONT></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>May 31, 2019 (Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><A name="4"></A></P>

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<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



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   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Cost</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Value</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Assets ($): </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Investments in securities&#8212;See Statement of Investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>573,240,615 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>610,988,869 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Cash</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>702,816 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Interest receivable</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8,773,596 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Prepaid expenses</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>37,984 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>620,503,265 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Liabilities ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Due to BNY Mellon Investment Adviser, Inc. and affiliates&#8212;Note 2(b)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>255,104 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Payable for floating rate notes issued&#8212;Note 3</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>162,356,715 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Interest and expense payable related to <BR>floating rate notes issued&#8212;Note 3</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,115,918 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Commissions payable&#8212;Note 1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>36,000 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Directors fees and expenses payable</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15,904 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Dividends payable to Preferred Shareholders</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12,156 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Accrued expenses</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>86,270 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>163,878,067 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Auction Preferred Stock, Series A, B and C, par value $.001 per share (1,972 shares issued and outstanding at $25,000 per share liquidation value)&#8212;Note 1</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>49,300,000 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Assets Applicable to Common Shareholders ($)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>407,325,198 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Composition of Net Assets ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Common Stock, par value, $.001 per share <BR>(49,369,459 shares issued and outstanding)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>49,369 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Paid-in capital </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>391,816,907 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Total distributable earnings (loss)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15,458,922 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Assets Applicable to Common Shareholders ($)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>407,325,198 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Shares Outstanding</FONT></B></P></TD>

   <TD style="BORDER-TOP: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(110 million shares of $.001 par value Common Stock authorized)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>49,369,459 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Net Asset Value Per Share of Common Stock ($)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>8.25</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal" color=#000000>See notes to financial statements.</FONT></I></P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal" color=#000000></FONT></I></SUP></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal" color=#000000></FONT></I></SUP></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal" color=#000000></FONT></I></SUP></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>24</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>STATEMENT OF OPERATIONS</FONT></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>Six Months Ended May 31, 2019 (Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><A name="5"></A></P>

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<TR>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Investment Income ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Interest Income</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>13,981,116 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Expenses:</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Investment advisory fee&#8212;Note 2(a)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,112,685 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Interest and expense related to floating rate notes issued&#8212;Note 3</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,815,108 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Administration fee&#8212;Note 2(a)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>556,342 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Commission fees&#8212;Note 1</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>61,011 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Directors&#8217; fees and expenses&#8212;Note 2(c)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>52,947 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Professional fees</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>32,636 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Registration fees</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>32,329 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Shareholders&#8217; reports</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8,744 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Shareholder servicing costs</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8,471 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Custodian fees&#8212;Note 2(b)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4,108 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Miscellaneous</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>28,486 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Total Expenses</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>3,712,867 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Less&#8212;reduction in expenses due to undertaking&#8212;Note 2(a)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(222,573)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Less&#8212;reduction in fees due to earnings credits&#8212;Note 2(b)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(4,108)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Expenses</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>3,486,186 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Investment Income&#8212;Net</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>10,494,930 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Realized and Unrealized Gain (Loss) on Investments&#8212;Note 3 ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Net realized gain (loss) on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(248,914)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Net realized gain (loss) on futures</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(245,411)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Realized Gain (Loss)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>(494,325)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Net unrealized appreciation (depreciation) on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>18,022,413 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Realized and Unrealized Gain (Loss) on Investments</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>17,528,088 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Dividends to Preferred Shareholders</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>(680,158)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Increase in Net Assets Resulting from Operations</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>27,342,860 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD colSpan=2>

   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal" color=#000000>See notes to financial statements.</FONT></I></P></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>25</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>STATEMENT OF CASH FLOWS</FONT></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>Six Months Ended May 31, 2019 (Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><A name="6"></A></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Cash Flows from Operating Activities ($): </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Purchases of portfolio securities</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>(104,626,517)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Proceeds from sales of portfolio securities</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>104,984,570 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Net proceeds for sales of short-term securities</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>2,247 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Dividends paid to Preferred Shareholders</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>(681,067)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Interest received</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>15,617,552 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Paid to BNY Mellon Investment Adviser, Inc.</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>(873,278)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Operating expenses paid</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>(917,229)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Net Unrealized and Realized Gain (Loss) on futures</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>(245,411)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Cash Provided by Operating Activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=cambria>13,260,867 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Cash Flows from Financing Activities ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Dividends paid to Common Shareholders</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(10,367,588)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Interest and expense related to floating </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>rate notes issued paid </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(2,706,245)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Cash Provided in Financing Activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=cambria>(13,073,833)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Net Increase (Decrease) in cash</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=cambria>187,034 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Cash at beginning of period</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>515,782 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Cash at end of period</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=cambria>702,816 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Reconciliation of Net Increase (Decrease) in Net Assets Applicable to</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Common Shareholders Resulting from Operations to</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Net Cash Provided by Operating Activities ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Net Increase in Net Assets Resulting From Operations</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>27,342,860 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Adjustments to reconcile net increase in net assets</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>applicable to Common Shareholder resulting from</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>operations to net cash provided by operating activities ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Decrease in investments in securities at cost</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>3,535,228 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Decrease in interest receivable</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,250,122 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Increase in prepaid expenses</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(17,202)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Increase in BNY Mellon Investment Adviser, Inc. and affiliates</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>16,834 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Decrease in payable for investment securities purchased</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(2,582,900)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Interest and expense related to floating rate notes issued</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,815,108 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Decrease in dividends payable to Preferred Shareholders</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(909)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Increase in Directors fees and expense payable</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>9,109 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Decrease in commissions payable and accrued expenses</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(128,170)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Net unrealized appreciation on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(18,022,413)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Net amortization of premiums on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>43,200 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" face=cambria>Net Cash Provided by Operating Activities</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-STYLE: normal" color=#000000 face=cambria>13,260,867 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal" color=#000000></FONT></I>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal" color=#000000></FONT></I>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=arial></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=arial></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=arial></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=arial></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=arial></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD colSpan=2>

   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal" color=#000000>See notes to financial statements.</FONT></I></P></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>26</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>STATEMENT OF CHANGES IN NET ASSETS</FONT></P>

<P style="TEXT-ALIGN: left"><A name="7"></A></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#969696 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Six Months Ended <BR>May 31, 2019 (Unaudited)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria>Year Ended<BR>November 30, 2018</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Operations ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Investment income&#8212;net</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10,494,930 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>23,227,071 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Net realized gain (loss) on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(494,325)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,157,286 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Net unrealized appreciation (depreciation) <BR>on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>18,022,413 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(23,902,914)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Dividends to Preferred Shareholders</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(680,158)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(1,304,861)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Net Increase (Decrease) in Net Assets Applicable<BR>to Common Shareholders Resulting from <BR>Operations</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>27,342,860 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>176,582 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=9>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Distributions ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Distributions to Common Shareholders</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>(10,367,588)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>(21,374,989)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=9>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Capital Stock Transactions ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Proceeds from Auction Preferred Stock <BR>to Common Shareholders</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>- </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,185,000 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Distributions reinvested</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>- </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>268,131 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Increase (Decrease) in Net Assets <BR>from Capital Stock Transactions</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>- </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>2,453,131 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Total Increase (Decrease) in Net Assets <BR>Applicable to Common Shareholders</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>16,975,272 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>(18,745,276)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #f2f2f2 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=9>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Net Assets Applicable to Common Shareholders ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Beginning of Period</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>390,349,926 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>409,095,202 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>End of Period</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>407,325,198 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>390,349,926 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=9>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Capital Share Transactions (Common Shares):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Shares issued for distributions reinvested</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>- </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>32,286 </FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=4>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Net Increase (Decrease) in Shares Outstanding</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>- </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>32,286 </FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD colSpan=2>

   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal" color=#000000>See notes to financial statements.</FONT></I></P></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>27</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>FINANCIAL HIGHLIGHTS</FONT></P>

<P style="TEXT-ALIGN: justify"><A name="8"></A></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The following table describes the performance for the fiscal periods indicated. Total return shows how much your investment in the fund would have increased (or decreased) during each period, assuming you had reinvested all dividends and distributions. These figures have been derived from the fund&#8217;s financial statements, and with respect to common stock, market price data for the fund&#8217;s common shares.</FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Six Months Ended</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>May 31, 2019</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Year Ended November 30,</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(Unaudited)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2018</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2017</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2016</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2015</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2014</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Per Share Data ($):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Net asset value, beginning of period</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.91</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.29</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.19</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.59</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.57</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.94</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Investment Operations:</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Investment income&#8212;net<FONT style="FONT-SIZE: 8pt"><SUP>a</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.21</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.47</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.49</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.50</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.52</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.52</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Net realized and unrealized <BR>gain (loss) on investments</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.33</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.43)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.39)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.00)<FONT style="FONT-SIZE: 8pt"><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.68</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Dividends to Preferred Shareholders <BR>from investment income&#8212;net</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.01</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.03)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.02)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.01)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.00)<FONT style="FONT-SIZE: 8pt"><SUP>b</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.00)<FONT style="FONT-SIZE: 8pt"><SUP>b</SUP></FONT></FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Total from Investment Operations</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.55</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.01</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.60</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.10</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.52</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.20</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Distributions to Common Shareholders:</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Dividends from investment <BR>income&#8212;net</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.21)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.43)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.50)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.50)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.50)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(.57)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Net asset value resulting from Auction <BR>Preferred Stock tender as a discount</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.04</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Net asset value, end of period</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.25</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.91</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.29</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.19</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.59</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.57</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Market value, end of period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.96</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.13</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.40</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>8.07</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.95</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.88</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Total Return (%)<FONT style="FONT-SIZE: 8pt"><SUP>c</SUP></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>14.79<FONT style="FONT-SIZE: 8pt"><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(10.14)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>10.46</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.55</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.41</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.77</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>28</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Six Months Ended</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>May 31, 2019</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=5>

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Year Ended November 30,</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(Unaudited)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2018</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2017</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2016</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2015</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2014</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Ratios/Supplemental Data (%):</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of total expenses to <BR>average net assets <BR>applicable to Common Stock<FONT><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.87<FONT>f</FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.73</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.41</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.24</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.19</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.21</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of net expenses to <BR>average net assets <BR>applicable to Common Stock<FONT><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.76<FONT>f</FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.62</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.28</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.12</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.07</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.09</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of interest and expense related to <BR>floating rate notes issued to average net <BR>assets applicable to Common Stock<FONT><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.92<FONT>f</FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.72</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.35</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.21</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.15</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.16</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of net investment income to <BR>average net assets <BR>applicable to Common Stock<FONT><SUP>e</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.30<FONT><SUP>f</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.78</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.87</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.67</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.10</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>6.25</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of total expenses to <BR>total average net assets</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.67<FONT><SUP>f</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.51</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.15</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.02</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.98</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.99</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of net expenses to <BR>total average net assets</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.57<FONT><SUP>f</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.41</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1.05</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.92</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.88</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.89</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of interest and expense related to <BR>floating rate notes issued to <BR>total average net assets</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.82<FONT><SUP>f</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.63</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.29</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.17</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.13</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>.13</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ratio of net investment income to <BR>total average net assets</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.72<FONT><SUP>f</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.02</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.79</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.66</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>4.99</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>5.07</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Portfolio Turnover Rate</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>23.18<FONT><SUP>d</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>24.57</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11.20</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>12.90</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>15.27</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>7.29</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Asset Coverage of Preferred Stock,<BR>end of period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>926</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>892</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>540</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>533</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>553</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>552</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Net Assets, applicable to <BR>Common Shareholders, <BR>end of period ($ x 1,000)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>407,325</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>390,350</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>409,095</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>402,531</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>421,432</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>420,435</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Preferred Stock Outstanding, <BR>end of period ($ x 1,000)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>49,300</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>49,300</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>93,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>93,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>93,000</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>93,000</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Floating Rate Notes Outstanding, <BR>end of period ($ x 1,000)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>162,357</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>162,357</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>109,669</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>93,369</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>98,469</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #ffffff 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>103,469</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">a</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Based on average common shares outstanding.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">b</FONT></I></SUP></FONT><FONT style="WORD-SPACING: 6.4pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Amount represents less than $.01 per share.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">c</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Calculated based on market value.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">d</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Not annualized.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">e</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Does not reflect the effect of dividends to Preferred Shareholders.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">f</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Annualized.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">See notes to financial statements.</FONT></I></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>29</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>NOTES TO FINANCIAL STATEMENTS </FONT><FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>(Unaudited)</FONT></FONT></P>

<P style="TEXT-ALIGN: left"><A name="9"></A><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>NOTE 1&#8212;Significant Accounting Policies:</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">BNY Mellon Strategic Municipal Bond Fund, Inc. (the &#8220;fund&#8221;) is registered under the Investment Company Act of 1940, as amended (the &#8220;Act&#8221;), is a diversified closed-end management investment company. The fund&#8217;s investment objective is to seek to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. BNY Mellon Investment Adviser, Inc. (the &#8220;Adviser&#8221;), a wholly-owned subsidiary of The Bank of New York Mellon Corporation (&#8220;BNY Mellon&#8221;), serves as the fund&#8217;s investment adviser. The fund&#8217;s Common Stock trades on the New York Stock Exchange (the &#8220;NYSE&#8221;) under the ticker symbol DSM.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Effective June 3, 2019, the fund changed its name from Dreyfus Strategic Municipal Bond Fund, Inc. to BNY Mellon Strategic Municipal Bond Fund, Inc. In addition, The Dreyfus Corporation, the fund&#8217;s investment adviser and administrator, changed its name to &#8220;BNY Mellon Investment Adviser, Inc.&#8221; </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund has outstanding 698 Series A shares, 662 Series B shares and 612 Series C shares, Auction Preferred Stock (&#8220;APS&#8221;), with a liquidation preference of $25,000 per share (plus an amount equal to accumulated but unpaid dividends upon liquidation). APS dividend rates are determined pursuant to periodic auctions or by reference to a market rate. Deutsche Bank Trust Company America, as Auction Agent, receives a fee from the fund for its services in connection with such auctions. The fund also compensates broker-dealers generally at an annual rate of .15%-.25% of the purchase price of shares of APS.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund is subject to certain restrictions relating to the APS. Failure to comply with these restrictions could preclude the fund from declaring any distributions to shareholders of Common Stock (&#8220;Common Shareholders&#8221;) or repurchasing shares of Common Stock and/or could trigger the mandatory redemption of APS at liquidation value. Thus, redemptions of APS may be deemed to be outside of the control of the fund. </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The holders of APS, voting as a separate class, have the right to elect at least two directors. The holders of APS will vote as a separate class on certain other matters, as required by law. The fund&#8217;s Board of Directors (the &#8220;Board&#8221;) has designated Joni Evans and Robin A. Melvin as director to be elected by the holders of APS.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification is the exclusive reference of authoritative U.S. </FONT></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>30</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund</FONT><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#ff0000> </FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">enters into contracts that contain a variety of indemnifications. The fund&#8217;s maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements. </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(a) Portfolio valuation:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> 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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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></P>

<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 18pt"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">Level 1</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">&#8212;unadjusted quoted prices in active markets for identical investments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 18pt"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">Level 2</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">&#8212;other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 18pt"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">Level 3</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">&#8212;significant unobservable inputs (including the fund&#8217;s own assumptions in determining the fair value of investments).</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>31</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>NOTES TO FINANCIAL STATEMENTS (Unaudited) </FONT><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>(continued)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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:</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Investments in securities are valued each business day by an independent pricing service (the &#8220;Service&#8221;) approved by the Board. 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 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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The Service is engaged under the general oversight of the Board.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The following is a summary of the inputs used as of May 31, 2019</FONT><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#ff0000> </FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">in valuing the fund&#8217;s investments:</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>32</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=0 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Level 1 - Unadjusted Quoted Prices</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Level 2 - Other Significant Observable Inputs</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Level 3 -Significant Unobservable Inputs</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Total</FONT></P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-STYLE: normal" color=#000000 face=cambria>Assets ($)</FONT></B></P></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Investments in Securities:</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Municipal Bonds<FONT style="FONT-SIZE: 8pt"><SUP>&#8224;</SUP></FONT></FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>610,988,869</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>610,988,869</FONT></B></P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Liabilities ($)</FONT></B></P></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Floating Rate Notes<FONT style="FONT-SIZE: 8pt"><SUP>&#8224;&#8224;</SUP></FONT></FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(162,356,715)</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>-</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><B><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>(162,356,715)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&#8224;</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">See Statement of Investments for additional detailed categorizations.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&#8224;&#8224;</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Certain of the fund&#8217;s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes.</FONT></I></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">At May 31, 2019, there were no transfers between levels of the fair value hierarchy. It is the fund&#8217;s policy to recognize transfers between levels at the end of the reporting period.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(b) Securities transactions and investment income:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Interest income, adjusted for accretion of discount and amortization of premium on investments, is earned from settlement date and recognized on the accrual basis. Securities purchased or sold on a when issued or delayed delivery basis may be settled a month or more after the trade date.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(c) Dividends and distributions to Common shareholders:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> Dividends and distributions are recorded on the ex-dividend date. Dividends from investment income-net are normally declared and paid monthly. Dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Common shareholders will have their distributions reinvested in additional shares of the fund, unless such Common shareholders elect to receive cash, at the lower of the market price or net asset value per share (but not less than 95% of the market price). If market price is equal to or exceeds net asset value, shares will be issued at net asset value. If net asset value exceeds market price, Computershare Inc., the transfer agent for the fund&#8217;s Common Stock, will buy fund shares in the open market and reinvest those shares accordingly.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>33</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>NOTES TO FINANCIAL STATEMENTS (Unaudited) </FONT><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>(continued)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">On May 30, 2019, the Board declared a cash dividend of $.035 per share from investment income-net, payable on June 28, 2019 to Common shareholders of record as of the close of business on June 14, 2019. The ex-dividend date was June 13, 2019.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(d) Dividends and distributions to shareholders of APS:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> Dividends, which are cumulative, are generally reset every 7 days for each Series of APS pursuant to a process specified in related fund charter documents. Dividend rates as of May 31, 2019, for each Series of APS were as follows: Series A-2.713%, Series B-2.668% and Series C-2.713%. These rates reflect the &#8220;maximum rates&#8221; under the governing instruments as a result of &#8220;failed auctions&#8221; in which sufficient clearing bids are not received. The average dividend rates for the period ended May 31, 2019 for each Series of APS were as follows: Series A-2.762%, Series B-2.775% and Series C-2.764%.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(e) Federal income taxes:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> It is the policy of the fund to continue to qualify as a regulated investment company, which can distribute tax-exempt dividends, by complying with the applicable provisions of the Code, and to make distributions of income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">As of and during the period ended May 31, 2019, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended May 31, 2019, the fund did not incur any interest or penalties.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Each tax year in the three-year period ended November 30, 2018 remains subject to examination by the Internal Revenue Service and state taxing authorities.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Under the Regulated Investment Company Modernization Act of 2010 (the &#8220;2010 Act&#8221;), the fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 (&#8220;post-enactment losses&#8221;) for an unlimited period. Furthermore, post-enactment capital loss carryovers retain their character as either short-term or long-term capital losses rather than short-term as they were under previous statute. The 2010 Act requires post-enactment losses to be utilized before the utilization of losses incurred in taxable years prior to the effective date of the 2010 Act (&#8220;pre-enactment losses&#8221;). As a result of this ordering rule, pre-enactment losses may be more likely to expire unused.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund has an unused capital loss carryover of $22,637,777 available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to November 30, 2018. If not applied, </FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>34</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">$21,871,958 of the carryover expires in fiscal year 2019. The fund has $765,819 of post-enactment short-term capital losses which can be carried forward for an unlimited period.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The tax character of distributions paid to shareholders during the fiscal year ended November 30, 2018 was as follows: tax-exempt income $22,441,441 and ordinary income $238,409. The tax character of current year distributions will be determined at the end of the current fiscal year. </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(f) New Accounting Pronouncements:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> In March 2017, the FASB issued Accounting Standards Update 2017-08, Receivables&#8212;Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization On Purchased Callable Debt Securities (&#8220;ASU 2017-08&#8221;). The update shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. ASU 2017-08 will be effective for fiscal years beginning after December 15, 2018. </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Also in August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework&#8212;Changes to the Disclosure Requirements for Fair Value Measurement (&#8220;ASU 2018-13&#8221;). The update provides guidance that modifies certain disclosure requirements for fair value measurements. ASU 2018-13 will be effective for fiscal years beginning after December 15, 2019. Management is currently assessing the potential impact of these changes to future financial statements.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>NOTE 2&#8212;Investment Advisory Fee, Administration Fee and Other Transactions with Affiliates:</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(a) </FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Pursuant to an investment advisory agreement with the Adviser, the management fee is computed at the annual rate of .50% of the value of the fund&#8217;s average weekly net assets, inclusive of the outstanding APS, and is payable monthly. The fund also has an administration agreement with the Adviser and a custody agreement with The Bank of New York Mellon (the &#8220;Custodian&#8221;), a subsidiary of BNY Mellon and an affiliate of the Adviser. The fund pays in the aggregate for administration, custody and transfer agency services, a monthly fee based on an annual rate of .25% of the value of the fund&#8217;s average weekly net assets, inclusive of the outstanding APS. All out-of-pocket transfer agency and custody expenses, including custody transaction expenses, are paid separately by the fund.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The Adviser has currently undertaken, from December 1, 2018 through November 30, 2019, to waive receipt of a portion of the fund&#8217;s investment advisory fee, in the amount of .10% of the value of the fund&#8217;s average weekly net assets (including net assets representing APS outstanding). The </FONT></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>35</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>NOTES TO FINANCIAL STATEMENTS (Unaudited) </FONT><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>(continued)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">reduction in expenses, pursuant to the undertaking, amounted to $222,573 during the period ended May 31, 2019. </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(b) </FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund compensates the Custodian under a custody agreement for providing custodial services for the fund. These fees are determined based on transaction activity. During the period ended May 31, 2019</FONT><FONT><FONT style="FONT-SIZE: 11pt; FONT-WEIGHT: normal; FONT-STYLE: normal">, </FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">the fund was charged $4,108 for out-of-pocket and custody transaction expenses, pursuant to the custody agreement. These fees were partially offset by earnings credits of $4,108.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>The fund has an arrangement with the Custodian whereby</FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#121212> the fund may receive earnings credits when positive cash balances are maintained, which are used to offset custody fees. For financial reporting purposes, the fund includes net earnings credits as an expense offset in the Statement of Operations.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">During the period ended May 31, 2019, the fund was charged $3,026 for services performed by the Chief Compliance Officer and his staff. These fees are included in Miscellaneous in the Statement of Operations.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The components of &#8220;Due to BNY Mellon Investment Adviser, Inc. and affiliates&#8221; in the Statement of Assets and Liabilities consist of: investment advisory fees $192,799, Administration fees $96,399, Custodian fees $2,054 and Chief Compliance Officer fees $2,454, which are offset against an expense reimbursement currently in effect in the amount of $38,602.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">(c)</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> Each Board member also serves as a Board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets. </FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>NOTE 3&#8212;Securities Transactions:</FONT></B></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The aggregate amount of purchases and sales of investment securities, excluding short-term securities and futures, during the period ended May 31, 2019, amounted to $101,970,742 and $104,984,570, respectively.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">Inverse Floater Securities:</FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> 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 </FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>36</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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 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: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The average amount of borrowings outstanding under the inverse floater structure during the period ended May 31, 2019 was approximately $162,356,715, with a related weighted average annualized interest rate of 2.24%.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">Derivatives:</FONT></B></FONT><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#ff0000> </FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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 during the period ended May 31, 2019 is discussed below.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><B><FONT style="FONT-SIZE: 10.5pt; FONT-STYLE: normal">Futures: </FONT></B></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">In the normal course of pursuing its investment objective, the fund is exposed to market risk, including interest rate risk</FONT><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#7030a0> </FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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 </FONT></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>37</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>NOTES TO FINANCIAL STATEMENTS (Unaudited) </FONT><FONT><I><FONT style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face=arial>(continued)</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">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. At May 31, 2019, there were no futures outstanding.</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>The following summarizes the average market value of derivatives outstanding during</FONT></FONT><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#ff0000> </FONT></FONT><FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>the period ended May 31, 2019</FONT></FONT><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000>:</FONT></P>

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<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 0.5pt solid">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Average Market Value ($)</FONT></P></TD></TR>

<TR>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>&nbsp;Interest rate futures</FONT></P></TD>

   <TD>

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

   <TD>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 7.5pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>67,518&nbsp;</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">At May 31, 2019, accumulated net unrealized appreciation on investments was $37,748,254, consisting of $39,690,445 gross unrealized appreciation and $1,942,191 gross unrealized depreciation. </FONT></P>

<P style="TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">At May 31, 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: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>38</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>PROXY RESULTS (Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><A name="10"></A><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Common Shareholders and holders of APS voted together as a single class (except as noted below) on the following proposal presented at the annual shareholders&#8217; meeting held on June 12, 2019.</FONT></P>

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   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=calibri></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=calibri></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-BOTTOM: #000000 0.5pt solid; BACKGROUND-COLOR: #d9d9d9" colSpan=3>

   <P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Shares</FONT></P>

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD></TR>

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   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>For </FONT></P></TD>

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   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>Authority Withheld </FONT></P></TD></TR>

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   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>To elect one Class I Directors:<FONT><SUP> <FONT style="FONT-SIZE: 8pt">&#8224;</FONT></SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Alan H. Howard</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>43,620,273</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,223,683</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9" colSpan=2>

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>To elect three Class II Director:<FONT><SUP> <FONT style="FONT-SIZE: 8pt">&#8224;&#8224;</FONT></SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ehud Houminer</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>43,022,046</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,821,910</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Gordon J. Davis</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>43,796,394</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>2,047,562</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Robin A. Melvin<FONT style="FONT-SIZE: 8pt"><SUP>&#8224;&#8224;&#8224;</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>425</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>1,522</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&#8224;</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">The terms of these Class I Directors expire in 2021.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&#8224;&#8224;</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">The term of this Class II Director expires in 2022.</FONT></I></P>

<P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><SUP><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&#8224;&#8224;&#8224;</FONT></I></SUP></FONT><FONT><SUP><FONT style="WORD-SPACING: 8pt"><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">&nbsp;</FONT></I></FONT></SUP></FONT><I><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal">Elected solely by APS holders; Common Shareholders not entitled to vote. The term of this Class II Director expires in 2022.</FONT></I></P>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>39</FONT></B></FONT></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>NOTES</FONT></P>

<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>40</FONT></B></P>

<P>&nbsp;</P>
<PAGE>

<P style="TEXT-ALIGN: left"><FONT><FONT style="FONT-SIZE: 11.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>OFFICERS AND DIRECTORS</FONT></FONT><FONT style="FONT-SIZE: 11pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial><BR>BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10.5pt; FONT-WEIGHT: normal; FONT-STYLE: normal">200 Park Avenue<BR>New York, NY 10166</FONT></P>

<DIV align=left>

<TABLE style="CLEAR: both" cellSpacing=0 cellPadding=2 width="100%" border=0>



<TR>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD>

   <TD><FONT style="FONT-SIZE: 1pt">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><A name="11"></A><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Directors</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Officers (continued)</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Joseph S. DiMartino, Chairman</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Assistant Treasurers (continued)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Gordon J. Davis</FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face="agency fb"><SUP>&#8224;</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Robert Salviolo</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Joni Evans<FONT style="FONT-SIZE: 8pt"><SUP>&#8224;&#8224;</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Robert Svagna</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Joan Gulley</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chief Compliance Officer</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Ehud Houminer</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Joseph W. Connolly</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Alan H. Howard</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Portfolio Managers</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Robin A. Melvin </FONT></FONT><FONT><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face="agency fb"><SUP>&#8224;&#8224;</SUP></FONT></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Daniel A. Rabasco</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Burton N. Wallack</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Jeffrey B. Burger</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Benaree Pratt Wiley</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal"><SUP>&#8224; </SUP></FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal">Interested Board Member</FONT></I></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: top">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; TEXT-INDENT: -10.8pt"><FONT><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal"><SUP>&#8224;&#8224;</SUP></FONT></I></FONT><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal"><SUP> </SUP>Elected by APS Holders</FONT></I></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Investment Adviser and Administrator</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Officers</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>BNY Mellon Investment Adviser, Inc.</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>President</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Custodian</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Renee Laroche-Morris</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>The Bank of New York Mellon</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Chief Legal Officer</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Counsel</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Bennett A. MacDougall</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Proskauer Rose LLP</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Vice President and Secretary</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Transfer Agent,</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>James Bitetto</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Dividend -Paying Agent</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

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   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Vice President and Secretaries</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Disbursing Agent and Registrar</FONT></B></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Sonalee Cross</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Computershare Inc.</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Deirdre Cunnane</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9">

   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>(Common Stock)</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Sarah S. Kelleher</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Deutsche Bank Trust Company America</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Jeff Prusnofsky</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>(Auction Preferred Stock)</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Peter M. Sullivan</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Auction Agent</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Natalya Zelensky</FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Deutsche Bank Trust Company America</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Vice President</FONT></P></TD>

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   <TD style="BACKGROUND-COLOR: #d9d9d9"><FONT style="FONT-SIZE: 1pt; VERTICAL-ALIGN: bottom">&nbsp;</FONT></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>David Dipetrillo</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>(Auction Preferred Stock)</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Treasurer</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#141414 face=cambria>Stock Exchange Listing</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>James Windels</FONT></P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>NYSE Symbol: DSM</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Assistant Treasurers</FONT></P></TD>

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   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 9pt; VERTICAL-ALIGN: bottom; FONT-STYLE: normal" color=#000000 face=cambria>Initial SEC Effective Date</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Gavin C. Reilly</FONT></P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#000000 face=cambria>11/22/89</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN-LEFT: 7.2pt; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#141414 face=cambria>Robert S. Robol</FONT></P></TD>

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   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal">The fund&#8217;s net asset value per share appears in the following publications: Barron&#8217;s, Closed-End Bond Funds section under the heading &#8220;Municipal Bond Funds&#8221; every Monday; and The Wall Street Journal, Mutual Funds section under the heading &#8220;Closed-End Funds&#8221; every Monday.</FONT></I></P></TD></TR>

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   <P style="TEXT-ALIGN: left"><I><FONT style="FONT-SIZE: 8pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal">Notice is hereby given in accordance with Section 23(c) of the Act that the fund may purchase shares of its Common Stock in the open market when it can do so at prices below the then current net asset value per share.</FONT></I></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT><B><FONT style="FONT-SIZE: 8pt; FONT-STYLE: normal" face=arial>41</FONT></B></FONT></P>

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<DIV style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 36pt; FONT-WEIGHT: normal; FONT-STYLE: normal" face=arial>For More Information</FONT></DIV></DIV>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>BNY Mellon Strategic Municipal Bond Fund, Inc.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">240 Greenwich Street<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">New York, NY 10286</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>Adviser and Administrator</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">BNY Mellon Investment Advisers, Inc.<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">240 Greenwich Street<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">New York, NY 10286</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>Custodian</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The Bank of New York Mellon<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">240 Greenwich Street<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">New York, NY 10286</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>Transfer Agent &amp;<BR>Registrar (Common Stock)</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Computershare Inc.<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">480 Washington Boulevard<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Jersey City, NJ 07310</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" face=arial>Dividend Disbursing Agent (Common Stock)</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">Computershare Inc.<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">P.O. Box 30170<BR></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">College Station, TX 77842</FONT></P>

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   <P style="TEXT-ALIGN: left"><B><FONT style="FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-STYLE: normal">Ticker Symbol:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal">DSM</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. The fund&#8217;s Forms N-PORT are available on the SEC&#8217;s website at </FONT><FONT><U><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">www.sec.gov</FONT></U></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">A description of the policies and procedures that the fund uses to determine how to vote proxies relating to portfolio securities and information regarding how the fund voted these proxies for the most recent 12-month period ended June 30 is available at </FONT><FONT><U><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal">www.bnymellonfundsim.com</FONT></U></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> and on the SEC&#8217;s website at </FONT><FONT><U><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal" color=#0000ff>www.sec.gov</FONT></U></FONT><FONT style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal"> and without charge, upon request, by calling 1-800-373-9387.</FONT></P>

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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; Code of Ethics.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><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; Not applicable.</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; Audit Committee Financial Expert.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><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; Not applicable.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Accountant Fees and Services.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><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; Not applicable.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit Committee of Listed Registrants.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><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; Not applicable.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)</FONT><B><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; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="MARGIN: 0in 0in 12pt 0.75in; TEXT-INDENT: -0.75in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><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; Not applicable.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Portfolio Managers of Closed-End Management Investment Companies.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt 0.75in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="MARGIN: 0in 0in 12pt 0.75in; TEXT-INDENT: -0.75in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><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; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">None.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Submission of Matters to a Vote of Security Holders.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><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; There have been no material changes to the procedures applicable to Item 10.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 11.&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-CSR 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-CSR 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 second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt 1in; TEXT-INDENT: -1in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; The fund did not participate in a securities lending program during this period.</FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<a name="page_5"></a><a name="_bclPageBorder5"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 13.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibits.</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(a)(1)&#160;&#160;&#160;&#160; Not applicable.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(a)(2)&#160;&#160;&#160;&#160; Certifications of principal executive and
principal financial officers as required by Rule 30a-2(a) under the Investment
Company Act of 1940.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(a)(3)&#160;&#160;&#160;&#160; Not applicable.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certification of principal executive and
principal financial officers as required by Rule 30a-2(b) under the Investment
Company Act of 1940.</font></p>




<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:24.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SIGNATURES<br>
<br>
</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the Registrant has duly caused this Report to be signed on
its behalf by the undersigned, thereunto duly authorized.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">BNY Mellon Strategic
Municipal Bond Fund, Inc.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/ Renee
LaRoche-Morris</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Renee
LaRoche-Morris</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
(Principal Executive Officer)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Date:&#160;&#160;&#160;&#160;&#160; July 26, 2019</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this Report has been signed below by the following persons
on behalf of the Registrant and in the capacities and on the dates indicated.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/
Renee LaRoche-Morris</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Renee
LaRoche-Morris</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
(Principal Executive Officer)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Date:&#160;&#160;&#160;&#160;&#160; July 26, 2019</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/ James
Windels</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; James Windels</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Treasurer
(Principal Financial Officer)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Date:&#160;&#160;&#160;&#160;&#160; July 26, 2019</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>





</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_6"></a><a name="_bclPageBorder7"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=center style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">EXHIBIT INDEX</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(a)(2)&#160;&#160;&#160;&#160; Certifications of principal executive and
principal financial officers as required by Rule 30a-2(a) under the Investment
Company Act of 1940.&#160; (EX-99.CERT)</font></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certification of principal executive and
principal financial officers as required by Rule 30a-2(b) under the Investment
Company Act of 1940.&#160; (EX-99.906CERT)</font></p>




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<BODY bgcolor="#ffffff">
<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=right style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">[EX-99.CERT]&#8212;Exhibit&#160;
(a)(2)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SECTION 302 CERTIFICATION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">I, Renee
LaRoche-Morris, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.&#160;
I have reviewed this report on Form N-CSR of BNY Strategic Municipal Bond Fund,
Inc.;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2.&#160; 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-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3.&#160; Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations, changes in
net assets, and cash flows (if the financial statements are required to include
a statement of cash flows) of the registrant as of, and for, the periods
presented in this report;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">4.&#160; 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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(d) Disclosed in this report any change in
the registrant's internal control over financial reporting that occurred during
the second fiscal quarter of the period covered by this report that has
materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">5.&#160; 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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:6.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/
Renee LaRoche-Morris</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Renee
LaRoche-Morris</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
(Principal Executive Officer)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date:&#160;&#160;&#160;&#160;&#160; July
26, 2019</font></p>





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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_2"></a><a name="_bclPageBorder2"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">SECTION 302 CERTIFICATION</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">I,
James Windels, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1.&#160;
I have reviewed this report on Form N-CSR of BNY Mellon Strategic Municipal
Bond Fund, Inc.;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">2.&#160; 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-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">3.&#160; Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations, changes in
net assets, and cash flows (if the financial statements are required to include
a statement of cash flows) of the registrant as of, and for, the periods
presented in this report;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">4.&#160; 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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(d) Disclosed in this report any change in
the registrant's internal control over financial reporting that occurred during
the second fiscal quarter of the period covered by this report that has
materially affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">5.&#160; 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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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-bottom:12.0pt;margin-left:13.7pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(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;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/
James Windels</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; James
Windels</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Treasurer
(Principal Financial Officer)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date:&#160;&#160;&#160;&#160;&#160; July
26, 2019</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>




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<DOCUMENT>
<TYPE>EX-99.906 CERT
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<FILENAME>exhibit906852.htm
<DESCRIPTION>CERTIFICATION REQUIRED BY SECTION 906
<TEXT>

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<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">[EX-99.906CERT]</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">Exhibit (b)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:24.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=FR style="font-size:11.0pt;">SECTION 906
CERTIFICATIONS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=FR style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">In connection with
this report on Form N-CSR for the Registrant as furnished to the Securities and
Exchange Commission on the date hereof (the &quot;Report&quot;), the
undersigned hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002, that:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
Report fully complies with the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as applicable; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
information contained in the Report fairly presents, in all material respects,
the financial condition and results of operations of the Registrant.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/
Renee LaRoche-Morris</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Renee
LaRoche-Morris</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President
(Principal Executive Officer)<br>
<br>
</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date:&#160;&#160;&#160;&#160;&#160; July
26, 2019</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">/s/
James Windels</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; James
Windels</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Treasurer
(Principal Financial Officer)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Date:&#160;&#160;&#160;&#160;&#160; July
26, 2019</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">This certificate is
furnished pursuant to the requirements of Form N-CSR and shall not be deemed
&quot;filed&quot; for purposes of Section 18 of the Securities Exchange Act of
1934, or otherwise subject to the liability of that section, and shall not be
deemed to be incorporated by reference into any filing under the Securities Act
of 1933 or the Securities Exchange Act of 1934.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>




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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
