Top 10 Holdings %

Coupon RateMaturity%
Plain City Oh5.375%09/22/20265.6%
Duluth Independent School District No 7094.000%09/30/20265.5%
County of Belmont Oh4.500%08/11/20265.5%
City of Richmond Heights Oh4.500%07/30/20265.5%
Decatur Park District5.000%12/15/20265.0%
Columbiana Exempted Village School District5.000%12/01/20264.5%
Marysville Oh5.375%08/06/20264.5%
Canyons School District5.000%06/15/20274.1%
Twin Lakes School Building Corp5.000%07/15/20264.0%
Cook County School District No 153 Homewood5.000%12/15/20263.9%

State Allocation

HI3.4%
IL11.1%
IN9.2%
MN5.5%
OH36.2%
UT4.1%

Credit Quality Breakdown

Moody's/S&P

U.S. Treasury0.0%
U.S. Agency0.0%
Aaa/AAA6.5%
Aa/AA50.6%
SP-1+12.4%
Not Rated30.5%
The credit-quality ratings are derived from the underlying securities of the portfolio, and are rated by Moody's. If a rating from Moody's is unavailable, S&P's rating is used.

Composition By Security Type

Cash Equivalents1.7%
Daily Demand Notes8.3%
Weekly Demand Notes20.4%
Municipal Bonds69.6%

The composition of the Portfolio is as of December 31, 2025 and is subject to change.

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