Pioneer Municipal High
|
||
Income Trust
|
||
NQ| January 31, 2019
|
||
Ticker Symbol: MHI
|
Principal
|
||||
Amount
|
||||
USD ($)
|
Value
|
|||
UNAFFILIATED ISSUERS - 142.7%
|
||||
DEBTOR IN POSSESSION FINANCING - 1.2% of Net Assets
|
||||
Building Materials - 1.2%
|
||||
2,522,000
|
Texas Pellets, Inc. / German Pellets Texas LLC, 8.0%, 9/30/18 (144A)
|
$2,522,000
|
||
745,000
|
Texas Pellets, Inc. / German Pellets Texas LLC, 8.0%, 3/29/19 (144A)
|
745,000
|
||
Total Building Materials
|
$3,267,000
|
|||
TOTAL DEBTOR IN POSSESSION FINANCING
|
||||
(Cost $3,267,000)
|
$3,267,000
|
|||
TAX EXEMPT OBLIGATIONS - 141.5% of Net Assets(a)
|
||||
Arizona - 2.9%
|
||||
1,000,000
|
Arizona Industrial Development Authority, Bridgewater Avondale Project, 5.375%, 1/1/38
|
$1,009,370
|
||
4,000,000(b)
|
City of Phoenix, 5.0%, 7/1/27
|
4,807,120
|
||
2,250,000
|
City of Phoenix, Industrial Development Authority, 3rd & Indian School Assisted Living Project, 5.4%, 10/1/36
|
2,326,770
|
||
24,000
|
County of Pima, Industrial Development Authority, Arizona Charter Schools Project, Series C, 6.75%, 7/1/31
|
24,211
|
||
Total Arizona
|
$8,167,471
|
|||
California - 8.2%
|
||||
10,000,000(c)
|
California County Tobacco Securitization Agency, Capital Appreciation, Stanislaus County, Subordinated, Series A, 6/1/46
|
$2,014,700
|
||
1,450,000
|
California Enterprise Development Authority, Sunpower Corp., 8.5%, 4/1/31
|
1,534,433
|
||
530,000
|
California Municipal Finance Authority, Santa Rosa Academy Project, Series A, 5.75%, 7/1/30
|
563,597
|
||
4,750,000
|
California Pollution Control Financing Authority, 5.0%, 7/1/37 (144A)
|
4,758,027
|
||
1,725,000(d)
|
California School Finance Authority, Classical Academies Project, Series A, 7.375%, 10/1/43
|
2,069,379
|
||
1,400,000
|
California Statewide Communities Development Authority, Lancer Plaza Project, 5.625%, 11/1/33
|
1,503,530
|
||
568,006(e)
|
California Statewide Communities Development Authority, Microgy Holdings Project, 9.0%, 12/1/38
|
6
|
||
2,000,000(b)
|
Los Angeles Community College District, Series G, 4.0%, 8/1/39
|
2,056,520
|
||
1,605,000
|
Los Angeles County Metropolitan Transportation Authority, Series A, 5.0%, 7/1/30
|
1,949,882
|
||
6,750,000
|
Tobacco Securitization Authority of Southern California, Series A-1, 5.0%, 6/1/37
|
6,751,688
|
||
Total California
|
$23,201,762
|
|||
Colorado - 1.4%
|
||||
1,500,000(d)
|
Colorado Educational & Cultural Facilities Authority, Rocky Mountain Classical Academy Project, 8.0%, 9/1/43
|
$1,894,950
|
||
1,665,000(f)
|
Tender Option Bond Trust Receipts/Certificates, RIB, Series 2018, 0%, 6/1/39 (144A)
|
1,965,249
|
||
Total Colorado
|
$3,860,199
|
|||
Connecticut - 3.3%
|
||||
2,915,000
|
Mohegan Tribal Finance Authority, 7.0%, 2/1/45 (144A)
|
$2,999,448
|
||
5,000,000(b)
|
State of Connecticut, Series E, 4.0%, 9/1/30
|
5,208,100
|
||
1,000,000
|
Town of Hamden, Whitney Center Project, Series A, 7.75%, 1/1/43
|
1,025,940
|
||
Total Connecticut
|
$9,233,488
|
|||
District of Columbia - 6.4%
|
||||
3,705,000
|
District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.5%, 5/15/33
|
$3,979,133
|
||
6,000,000
|
District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.75%, 5/15/40
|
6,213,600
|
||
25,000,000(c)
|
District of Columbia Tobacco Settlement Financing Corp., Capital Appreciation, Asset-Backed, Series A, 6/15/46
|
3,827,500
|
||
3,975,000
|
District of Columbia, Deed Tax Housing Product Trust Fund, Series A, 4.25%, 6/1/37 (NATL Insured)
|
3,995,789
|
||
Total District of Columbia
|
$18,016,022
|
|||
Florida - 6.1%
|
||||
1,500,000
|
Alachua County Health Facilities Authority, Terraces Bonita Springs Project, Series A, 8.125%, 11/15/41
|
$1,629,435
|
||
1,500,000
|
Alachua County Health Facilities Authority, Terraces Bonita Springs Project, Series A, 8.125%, 11/15/46
|
1,627,395
|
||
2,500,000(d)
|
County of Miami-Dade, Aviation Revenue, Series B, 5.5%, 10/1/41
|
2,564,600
|
||
5,000,000
|
County of Miami-Dade, Water & Sewer System Revenue, Series A, 4.0%, 10/1/44
|
5,151,200
|
||
5,000,000
|
Florida's Turnpike Enterprise, Department of Transportation, Series A, 4.0%, 7/1/34
|
5,260,050
|
||
1,000,000(d)
|
Hillsborough County Industrial Development Authority, Various Health Facilities, 8.0%, 8/15/32
|
1,043,070
|
||
Total Florida
|
$17,275,750
|
|||
Georgia - 2.5%
|
||||
2,500,000
|
Clayton County Development Authority, Delta Air Lines, Series A, 8.75%, 6/1/29
|
$2,705,975
|
||
4,000,000
|
Private Colleges & Universities Authority, Emory University, Series A, 5.0%, 10/1/43
|
4,396,920
|
||
Total Georgia
|
$7,102,895
|
|||
Idaho - 1.8%
|
||||
5,000,000
|
Power County Industrial Development Corp., FMC Corp. Project, 6.45%, 8/1/32
|
$5,026,500
|
||
Total Idaho
|
$5,026,500
|
|||
Illinois - 16.5%
|
||||
2,087,000(f)
|
Illinois Finance Authority, Clare Oaks Project, Series B, 4.0%, 11/15/52
|
$1,811,620
|
||
1,305,000(c)
|
Illinois Finance Authority, Clare Oaks Project, Series C-1, 11/15/52
|
55,750
|
||
261,000
|
Illinois Finance Authority, Clare Oaks Project, Series C-2, 4.0%, 11/15/52
|
80,276
|
||
261,000(c)
|
Illinois Finance Authority, Clare Oaks Project, Series C-3, 11/15/52
|
50,201
|
||
2,000,000(d)
|
Illinois Finance Authority, Northwestern Memorial Hospital, Series A, 6.0%, 8/15/39
|
2,045,500
|
||
2,500,000(d)
|
Illinois Finance Authority, Roosevelt University Project, 6.5%, 4/1/39
|
2,579,100
|
||
3,865,000(d)
|
Illinois Finance Authority, Swedish Covenant, Series A, 6.0%, 8/15/38
|
4,031,929
|
||
3,500,000
|
Illinois Finance Authority, The Admiral at the Lake Project, 5.25%, 5/15/42
|
3,453,415
|
||
4,000,000
|
Illinois Finance Authority, The Admiral at the Lake Project, 5.5%, 5/15/54
|
4,007,560
|
||
1,700,000(d)
|
Illinois Finance Authority, The Admiral at the Lake Project, Series A, 7.625%, 5/15/25
|
1,814,155
|
||
Principal
|
||||
Amount
|
||||
USD ($)
|
Value
|
|||
Illinois - (continued)
|
||||
600,000(d)
|
Illinois Finance Authority, The Admiral at the Lake Project, Series A, 7.75%, 5/15/30
|
$643,098
|
||
2,000,000(d)
|
Illinois Finance Authority, The Admiral at the Lake Project, Series A, 8.0%, 5/15/40
|
2,151,080
|
||
3,200,000(d)
|
Illinois Finance Authority, The Admiral at the Lake Project, Series A, 8.0%, 5/15/46
|
3,444,416
|
||
1,610,000(g)
|
Metropolitan Pier & Exposition Authority, McCormick Place, 5.65%, 6/15/22 (NATL-RE Insured)
|
1,804,729
|
||
13,785,000
|
Metropolitan Pier & Exposition Authority, McCormick Place, 5.65%, 6/15/22 (NATL-RE Insured)
|
15,144,339
|
||
1,000,000
|
Metropolitan Pier & Exposition Authority, McCormick Place, Series B, 5.0%, 6/15/52 (ST APPROP Insured)
|
1,017,390
|
||
1,485,000(g)
|
Metropolitan Pier & Exposition Authority, McCormick Place, Series B, 5.65%, 6/15/22 (NATL Insured)
|
1,684,406
|
||
820,000
|
Southwestern Illinois Development Authority, Village of Sauget Project, 5.625%, 11/1/26
|
808,463
|
||
Total Illinois
|
$46,627,427
|
|||
Indiana - 1.7%
|
||||
250,000
|
City of Carmel, Barrington Carmel Project, Series A, 7.0%, 11/15/32
|
$220,000
|
||
750,000
|
City of Carmel, Barrington Carmel Project, Series A, 7.125%, 11/15/42
|
660,000
|
||
500,000
|
City of Carmel, Barrington Carmel Project, Series A, 7.125%, 11/15/47
|
440,000
|
||
1,000,000
|
City of Evansville, Silver Birch Evansville Project, 5.45%, 1/1/38
|
1,004,220
|
||
1,500,000
|
City of Mishawaka, Silver Birch Mishawaka Project, 5.375%, 1/1/38 (144A)
|
1,508,460
|
||
1,000,000
|
Indiana Finance Authority, Multipurpose Educational Facilities, Avondale Meadows Academy Project, 5.375%, 7/1/47
|
1,010,390
|
||
Total Indiana
|
$4,843,070
|
|||
Kentucky - 1.9%
|
||||
5,000,000(d)
|
Kentucky Economic Development Finance Authority, Owensboro Medical Health System, Series A, 6.375%, 6/1/40
|
$5,299,600
|
||
Total Kentucky
|
$5,299,600
|
|||
Louisiana - 0.7%
|
||||
2,260,000
|
Jefferson Parish Hospital Service District No. 2, East Jefferson General Hospital, 6.375%, 7/1/41
|
$2,118,140
|
||
Total Louisiana
|
$2,118,140
|
|||
Maine - 2.3%
|
||||
1,500,000
|
Maine Health & Higher Educational Facilities Authority, Maine General Medical Center, 7.5%, 7/1/32
|
$1,620,750
|
||
4,480,000
|
Maine Turnpike Authority, Series A, 5.0%, 7/1/42
|
4,834,502
|
||
Total Maine
|
$6,455,252
|
|||
Maryland - 0.5%
|
||||
1,390,000
|
Maryland Health & Higher Educational Facilities Authority, City Neighbors, Series A, 6.75%, 7/1/44
|
$1,510,833
|
||
Total Maryland
|
$1,510,833
|
|||
Massachusetts - 10.2%
|
||||
7,000,000(c)
|
Massachusetts Bay Transportation Authority, Series A, 7/1/28
|
$5,265,190
|
||
1,550,000
|
Massachusetts Development Finance Agency, Harvard University, Series A, 5.0%, 7/15/36
|
2,010,583
|
||
5,000,000
|
Massachusetts Development Finance Agency, Harvard University, Series A, 5.0%, 7/15/40
|
6,507,900
|
||
1,000,000
|
Massachusetts Development Finance Agency, Partners Healthcare System, 4.0%, 7/1/41
|
1,015,750
|
||
7,100,000
|
Massachusetts Development Finance Agency, WGBH Foundation, Series A, 5.75%, 1/1/42 (AMBAC Insured)
|
9,658,698
|
||
240,000
|
Massachusetts Educational Financing Authority, Series I, 6.0%, 1/1/28
|
249,098
|
||
3,100,000
|
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute of Technology, Series K, 5.5%, 7/1/32
|
4,137,136
|
||
Total Massachusetts
|
$28,844,355
|
|||
Michigan - 3.2%
|
||||
2,640,000
|
Michigan State University, Series A, 5.0%, 8/15/41
|
$2,905,558
|
||
6,100,000
|
Michigan Tobacco Settlement Finance Authority, Series A, 6.0%, 6/1/48
|
6,008,378
|
||
Total Michigan
|
$8,913,936
|
|||
Minnesota - 4.6%
|
||||
2,000,000
|
Bloomington Port Authority, Radisson Blu Mall of America, 9.0%, 12/1/35
|
$2,169,660
|
||
1,000,000
|
City of Ham Lake, DaVinci Academy, Series A, 5.0%, 7/1/47
|
1,024,510
|
||
2,300,000
|
City of Rochester, Mayo Clinic, Series B, 5.0%, 11/15/35
|
2,875,874
|
||
6,000,000(b)
|
State of Minnesota, Series B, 4.0%, 8/1/27
|
6,818,520
|
||
Total Minnesota
|
$12,888,564
|
|||
Mississippi - 2.3%
|
||||
600,000(f)
|
Mississippi Business Finance Corp., Chevron USA, Inc. Project, Series C, 1.45%, 12/1/30
|
$600,000
|
||
5,800,000(f)
|
Mississippi Business Finance Corp., Chevron USA, Inc. Project, Series C, 1.45%, 12/1/30
|
5,800,000
|
||
Total Mississippi
|
$6,400,000
|
|||
Montana - 0.0%†
|
||||
1,600,000(e)
|
Two Rivers Authority, Inc., 7.375%, 11/1/27
|
$64,000
|
||
Total Montana
|
$64,000
|
|||
New Hampshire - 0.3%
|
||||
1,000,000
|
New Hampshire Health & Education Facilities Authority Act, Catholic Medical Centre, 3.75%, 7/1/40
|
$950,960
|
||
Total New Hampshire
|
$950,960
|
|||
New Jersey - 2.5%
|
||||
1,000,000
|
New Jersey Economic Development Authority, Charter Marion P Thomas, 5.375%, 10/1/50 (144A)
|
$1,014,600
|
||
3,000,000
|
New Jersey Economic Development Authority, Continental Airlines, 5.25%, 9/15/29
|
3,238,320
|
||
2,500,000
|
New Jersey Economic Development Authority, Continental Airlines, 5.75%, 9/15/27
|
2,702,200
|
||
Total New Jersey
|
$6,955,120
|
|||
Principal
|
||||
Amount
|
||||
USD ($)
|
Value
|
|||
New Mexico - 1.6%
|
||||
1,500,000
|
County of Otero, Otero County Jail Project, 9.0%, 4/1/23
|
$1,494,525
|
||
2,960,000(f)
|
County of Otero, Otero County Jail Project, 9.0%, 4/1/28
|
2,930,696
|
||
Total New Mexico
|
$4,425,221
|
|||
New York - 8.2%
|
||||
2,000,000(d)
|
Hempstead Local Development Corp., Molloy College Project, 5.75%, 7/1/39
|
$2,035,060
|
||
8,000,000
|
New York State Dormitory Authority, Series A, 4.0%, 7/1/41
|
8,417,120
|
||
7,500,000
|
New York State Dormitory Authority, Series C, 5.0%, 3/15/39
|
8,356,500
|
||
1,500,000
|
New York State Dormitory Authority, Trustees of Columbia University, 5.0%, 10/1/45
|
1,928,100
|
||
2,410,177
|
Westchester County Healthcare Corp., Series A, 5.0%, 11/1/44
|
2,544,207
|
||
Total New York
|
$23,280,987
|
|||
North Carolina - 2.9%
|
||||
3,300,000(f)
|
Charlotte-Mecklenburg Hospital Authority, North Carolina Health Care System Revenue, 1.65%, 1/15/38
|
$3,300,000
|
||
4,225,000(f)
|
Tender Option Bond Trust Receipts/Certificates, RIB, Series 2018, 0%, 1/1/38 (144A)
|
4,875,988
|
||
Total North Carolina
|
$8,175,988
|
|||
North Dakota - 1.0%
|
||||
2,525,000(d)
|
County of Burleigh, St. Alexius Medical Center, 5.0%, 7/1/38
|
$2,774,723
|
||
Total North Dakota
|
$2,774,723
|
|||
Ohio - 5.2%
|
||||
1,325,000
|
Buckeye Tobacco Settlement Financing Authority, Asset-Backed, Series A-2, 5.75%, 6/1/34
|
$1,215,687
|
||
2,500,000
|
Buckeye Tobacco Settlement Financing Authority, Asset-Backed, Series A-2, 5.875%, 6/1/47
|
2,321,875
|
||
1,700,000
|
Buckeye Tobacco Settlement Financing Authority, Asset-Backed, Series A-2, 6.0%, 6/1/42
|
1,589,500
|
||
6,000,000
|
Buckeye Tobacco Settlement Financing Authority, Asset-Backed, Series A-2, 6.5%, 6/1/47
|
5,880,000
|
||
1,000,000
|
Ohio Housing Finance Agency, Sanctuary Springboro Project, 5.45%, 1/1/38 (144A)
|
1,009,950
|
||
2,500,000(b)(d)
|
State of Ohio, Common Schools, Series B, 5.0%, 6/15/29
|
2,756,050
|
||
Total Ohio
|
$14,773,062
|
|||
Oregon - 2.4%
|
||||
1,000,000
|
Oregon Health & Science University, Series A, 5.0%, 7/1/42
|
$1,128,530
|
||
5,190,000
|
Oregon Health & Science University, Series E, 5.0%, 7/1/32
|
5,669,919
|
||
Total Oregon
|
$6,798,449
|
|||
Pennsylvania - 5.1%
|
||||
3,000,000
|
Geisinger Authority, Geisinger Health System, series A-1, 5.0%, 2/15/45
|
$3,317,040
|
||
1,280,000(e)
|
Langhorne Manor Borough Higher Education Authority, Lower Bucks Hospital, 7.35%, 7/1/22
|
422,400
|
||
5,000,000
|
Pennsylvania Economic Development Financing Authority, USG Corp. Project, 6.0%, 6/1/31
|
5,001,200
|
||
500,000
|
Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc., Project, Series A, 6.625%, 6/1/50
|
516,725
|
||
2,000,000
|
Philadelphia Authority for Industrial Development, Nueva Esperanze, Inc., 8.2%, 12/1/43
|
2,190,380
|
||
1,000,000
|
Philadelphia Authority for Industrial Development, Performing Arts Charter School Project, 6.5%, 6/15/33 (144A)
|
1,026,660
|
||
2,000,000
|
Philadelphia Authority for Industrial Development, Performing Arts Charter School Project, 6.75%, 6/15/43 (144A)
|
2,053,420
|
||
Total Pennsylvania
|
$14,527,825
|
|||
Puerto Rico - 1.0%
|
||||
6,255,000(b)(e)
|
Commonwealth of Puerto Rico, Series A, 8.0%, 7/1/35
|
$2,877,300
|
||
Total Puerto Rico
|
$2,877,300
|
|||
Rhode Island - 2.7%
|
||||
5,900,000(e)
|
Central Falls Detention Facility Corp., 7.25%, 7/15/35
|
$931,610
|
||
2,000,000
|
Rhode Island Health & Educational Building Corp., Brown University, Series A, 4.0%, 9/1/37
|
2,111,580
|
||
1,500,000(d)
|
Rhode Island Health & Educational Building Corp., Tockwatten Home Issue, 8.375%, 1/1/46
|
1,731,300
|
||
2,500,000(f)
|
Tender Option Bond Trust Receipts/Certificates, RIB, 0%, 9/1/47 (144A)
|
2,758,500
|
||
Total Rhode Island
|
$7,532,990
|
|||
Texas - 9.8%
|
||||
1,000,000
|
Arlington Higher Education Finance Corp., Universal Academy, Series A, 7.0%, 3/1/34
|
$1,047,130
|
||
2,500,000(d)
|
Central Texas Regional Mobility Authority, Sub Lien, 6.75%, 1/1/41
|
2,734,325
|
||
1,490,000(b)
|
County of Harris, Series A, 5.0%, 10/1/26
|
1,760,912
|
||
5,000,000(b)
|
Goose Creek Consolidated Independent School District, Series C, 4.0%, 2/15/26 (PSF-GTD Insured)
|
5,456,500
|
||
725,078(e)
|
Gulf Coast Industrial Development Authority, Microgy Holdings Project, 7.0%, 12/1/36
|
7
|
||
3,400,000(f)
|
Harris County Health Facilities Development Corp., The Methodist Hospital System, Series A-2, 1.65%, 12/1/41
|
3,400,000
|
||
3,785,000
|
North Texas Tollway Authority, Series A, 5.0%, 1/1/35
|
4,228,905
|
||
1,500,000(d)
|
Red River Health Facilities Development Corp., MRC Crestview, Series A, 8.0%, 11/15/41
|
1,755,075
|
||
3,960,000+(e)
|
Sanger Industrial Development Corp., Texas Pellets Project, Series B, 8.0%, 7/1/38
|
1,520,640
|
||
1,000,000(e)
|
Tarrant County Cultural Education Facilities Finance Corp., Mirador Project, Series A, 4.875%, 11/15/48
|
450,000
|
||
1,000,000(e)
|
Tarrant County Cultural Education Facilities Finance Corp., Mirador Project, Series A, 5.0%, 11/15/55
|
450,000
|
||
2,000,000(d)
|
Tarrant County Cultural Education Facilities Finance Corp., MRC Crestview Project, 8.0%, 11/15/34
|
2,215,380
|
||
2,500,000(d)
|
Travis County Health Facilities Development Corp., Longhorn Village Project, 7.125%, 1/1/46
|
2,738,225
|
||
Total Texas
|
$27,757,099
|
|||
Utah - 0.4%
|
||||
1,000,000
|
Salt Lake City Corp., Airport Revenue, Series B, 5.0%, 7/1/35
|
$1,138,230
|
||
Total Utah
|
$1,138,230
|
|||
Virginia - 4.9%
|
||||
2,200,000(b)
|
County of Arlington, 4.0%, 8/15/35
|
$2,347,400
|
||
1,415,000(b)
|
County of Fairfax, Series A, 4.0%, 10/1/33 (ST AID WITHHLDG Insured)
|
1,530,860
|
||
Principal
|
||||
Amount
|
||||
USD ($)
|
Value
|
|||
Virginia - (continued)
|
||||
5,000,000
|
University of Virginia, Series A, 5.0%, 4/1/42
|
$5,716,000
|
||
4,000,000
|
Upper Occoquan Sewage Authority, 4.0%, 7/1/41
|
4,148,480
|
||
Total Virginia
|
$13,742,740
|
|||
Washington - 11.2%
|
||||
3,745,000
|
City of Seattle, Water System Revenue, 4.0%, 8/1/32
|
$4,065,347
|
||
2,500,000(b)
|
King County, Issaquah School District No. 411, 4.0%, 12/1/31 (SCH BD GTY Insured)
|
2,681,925
|
||
14,315,000(b)(c)
|
State of Washington, Motor Vehicle Sales Tax, Series C, 6/1/22 (NATL Insured)
|
13,301,784
|
||
3,285,000(f)
|
Tender Option Bond Trust Receipts/Certificates, RIB, Series 2018, 0%, 1/1/45 (144A)
|
3,681,762
|
||
2,500,000
|
University of Washington, Series B, 5.0%, 6/1/29
|
2,898,350
|
||
3,795,000(d)
|
Washington State Health Care Facilities Authority, Fred Hutchinson Cancer Research Center, Series A, 6.0%, 1/1/33
|
3,864,525
|
||
1,150,000
|
Washington State Housing Finance Commission, Mirabella Project, Series A, 6.75%, 10/1/47 (144A)
|
1,224,083
|
||
Total Washington
|
$31,717,776
|
|||
Wisconsin - 5.8%
|
||||
1,500,000
|
Public Finance Authority, Gardner Webb University, 5.0%, 7/1/31 (144A)
|
$1,512,255
|
||
5,000,000
|
Public Finance Authority, Glenridge Palmer Ranch, Series A, 8.25%, 6/1/46 (144A)
|
5,574,950
|
||
750,000
|
Public Finance Authority, Roseman University Health Sciences Project, 5.875%, 4/1/45
|
816,442
|
||
1,000,000
|
Public Finance Authority, SearStone CCRC Project, Series A, 5.3%, 6/1/47
|
1,002,660
|
||
1,490,000(d)
|
Public Finance Authority, SearStone CCRC Project, Series A, 8.625%, 6/1/47
|
1,783,426
|
||
5,000,000
|
Wisconsin Department of Transportation, Series A, 5.0%, 7/1/28
|
5,685,500
|
||
Total Wisconsin
|
$16,375,233
|
|||
TOTAL TAX EXEMPT OBLIGATIONS
|
||||
(Cost $391,253,470)
|
$399,652,967
|
|||
TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 142.7%
|
||||
(Cost $394,520,470)
|
$402,919,967
|
|||
OTHER ASSETS AND LIABILITIES - 1.7%
|
$4,694,953
|
|||
VARIABLE RATE MUNIFUND TERM PREFERRED SHARES
|
||||
AT REDEMPTION VALUE - (44.4)%
|
($125,356,830)
|
|||
NET ASSETS APPLICABLE TO
|
||||
COMMON SHAREOWNERS - 100.0%
|
$282,258,090
|
RIB
|
Residual Interest Bond is purchased in a secondary market. The interest rate is subject to change periodically and inversely based upon prevailing market rates. The interest rate shown is the rate at January 31, 2019.
|
|
(144A)
|
Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At January 31, 2019, the value of these securities amounted to $39,230,352, or 13.9% of net assets applicable to common shareowners.
|
|
|
†
|
Amount rounds to less than 0.1%.
|
|
+
|
Securities that used significant unobservable inputs to determine their value.
|
|
(a)
|
Consists of Revenue Bonds unless otherwise indicated.
|
|
(b)
|
Represents a General Obligation Bond.
|
|
(c)
|
Security issued with a zero coupon. Income is recognized through accretion of discount.
|
|
(d)
|
Prerefunded bonds have been collateralized by U.S. Treasury or U.S. Government Agency securities which are held in escrow to pay interest and principal on the tax exempt issue and to retire the bonds in full at the earliest refunding date.
|
|
(e)
|
Security is in default.
|
|
(f)
|
The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at January 31, 2019.
|
|
(g)
|
Escrow to maturity.
|
Various inputs are used in determining the value of the Trust's investments. These inputs are summarized in the three broad levels below.
|
Level 1 - quoted prices in active markets for identical securities.
|
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).
|
Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining fair value of investments).
|
The following is a summary of the inputs used as of January 31, 2019, in valuing the Trust's investments.
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Debtor in Possession Financing
|
$
|
–
|
$
|
3,267,000
|
$
|
–
|
$
|
3,267,000
|
||||||||
Tax Exempt Obligations
|
||||||||||||||||
Texas
|
–
|
26,236,459
|
1,520,640
|
27,757,099
|
||||||||||||
All Other Tax Exempt Obligations
|
–
|
371,895,868
|
–
|
371,895,868
|
||||||||||||
Total Investments in Securities
|
$
|
–
|
$
|
401,399,327
|
$
|
1,520,640
|
$
|
402,919,967
|
Tax Exempt Obligations
|
||||
Balance as of 4/30/18
|
$
|
1,485,000
|
||
Realized gain (loss)
|
–
|
|||
Change in unrealized appreciation (depreciation)
|
39,350
|
|||
Accrued discounts/premiums
|
(3,710
|
)
|
||
Purchases
|
–
|
|||
Sales
|
–
|
|||
Transfers in to Level 3*
|
–
|
|||
Transfers out of Level 3*
|
–
|
|||
Balance as of 1/31/19
|
$
|
1,520,640
|
* |
Transfers are calculated on the beginning of period value. During the nine months ended January 31, 2019, there were no transfers between Levels 1, 2 and 3.
|
Date:
|
[Signature] [Title]
|