UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-00121
Name of Registrant: | Vanguard Wellington Fund |
Address of Registrant: | P.O. Box 2600 |
Valley Forge, PA 19482 |
Name and address of agent for service: | Anne E. Robinson, Esquire |
P.O. Box 876 | |
Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: November 30
Date of reporting period: December 1, 2022—November 30, 2023
Item 1: Reports to Shareholders
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59 |
• | For the 12 months ended November 30, 2023, Vanguard Wellington Fund returned 7.03% for Admiral Shares and 6.94% for Investor Shares. It lagged the 9.93% return of its composite benchmark index, a mix of 65% U.S. stocks and 35% U.S. bonds that reflects the fund’s target asset allocation. |
• | For much of the period, inflation continued to ease amid interest rate hikes by the Federal Reserve. Unexpected resilience in the labor market and consumer spending dialed back expectations of an imminent recession. Although the prospect of higher interest rates for longer and heightened geopolitical tensions weighed on market sentiment at times toward the close of the period, global stocks and bonds rallied in November. |
• | The stock portion of the fund’s portfolio underperformed the 13.84% return of the Standard & Poor’s 500 Index by more than 4 percentage points. An underweight allocation to and poor selection in information technology accounted for most of this underperformance. Overweight positions and selection within industrials and health care also detracted. Holdings in communications services, and to a lesser extent in real estate, energy, and consumer discretionary, helped results. |
• | The bond portion slightly underperformed the 2.68% return of the Bloomberg U.S. Credit A or Better Bond Index. The fund’s shorter credit spread duration compared to that of the benchmark detracted notably. A modest exposure to agency mortgage-backed pass-throughs also detracted. Strong selection, particularly within industrials, banking, and utilities, helped relative results. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 13.57% | 8.72% | 12.25% |
Russell 2000 Index (Small-caps) | -2.56 | 1.13 | 4.78 |
Russell 3000 Index (Broad U.S. market) | 12.61 | 8.26 | 11.77 |
FTSE All-World ex US Index (International) | 9.64 | 2.12 | 5.49 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | 1.32% | -4.46% | 0.79% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 4.28 | -0.96 | 2.03 |
FTSE Three-Month U.S. Treasury Bill Index | 5.12 | 2.08 | 1.85 |
CPI | |||
Consumer Price Index | 3.14% | 5.67% | 4.03% |
Equity Portfolio Manager
Fixed Income Portfolio Manager
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended November 30, 2023 | |||
Beginning Account Value 5/31/2023 | Ending Account Value 11/30/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Wellington Fund | |||
Investor Shares | $1,000.00 | $1,055.60 | $1.34 |
Admiral™ Shares | 1,000.00 | 1,056.20 | 0.93 |
Based on Hypothetical 5% Yearly Return | |||
Wellington Fund | |||
Investor Shares | $1,000.00 | $1,023.76 | $1.32 |
Admiral Shares | 1,000.00 | 1,024.17 | 0.91 |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $10,000 Investment | ||
Wellington Fund Investor Shares | 6.94% | 7.67% | 7.63% | $20,862 | |
Wellington Composite Index | 9.93 | 8.83 | 8.51 | 22,626 | |
Bloomberg U.S. Aggregate Bond Index | 1.18 | 0.71 | 1.37 | 11,458 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 12.62 | 11.65 | 11.10 | 28,662 |
One Year | Five Years | Ten Years | Final Value of a $50,000 Investment | ||
Wellington Fund Admiral Shares | 7.03% | 7.76% | 7.72% | $105,166 | |
Wellington Composite Index | 9.93 | 8.83 | 8.51 | 113,131 | |
Bloomberg U.S. Aggregate Bond Index | 1.18 | 0.71 | 1.37 | 57,290 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 12.62 | 11.65 | 11.10 | 143,310 |
Asset-Backed/Commercial Mortgage-Backed Securities | 1.0% |
Common Stocks | 66.0 |
Corporate Bonds | 22.2 |
Sovereign Bonds | 0.6 |
Taxable Municipal Bonds | 1.6 |
U.S. Government and Agency Obligations | 8.6 |
Shares | Market Value• ($000) | |||||
Common Stocks (65.1%) | ||||||
Communication Services (5.6%) | ||||||
* | Alphabet Inc. Class A | 29,822,305 | 3,952,350 | |||
* | Meta Platforms Inc. Class A | 5,801,950 | 1,898,108 | |||
5,850,458 | ||||||
Consumer Discretionary (6.8%) | ||||||
* | Amazon.com Inc. | 19,077,420 | 2,787,020 | |||
McDonald's Corp. | 3,383,206 | 953,523 | ||||
Home Depot Inc. | 2,992,407 | 938,090 | ||||
TJX Cos. Inc. | 8,603,005 | 758,011 | ||||
Starbucks Corp. | 4,806,393 | 477,275 | ||||
Lennar Corp. Class A | 3,031,327 | 387,767 | ||||
DR Horton Inc. | 2,409,527 | 307,624 | ||||
* | Coupang Inc. Class A | 16,703,766 | 255,233 | |||
* | Airbnb Inc. Class A | 1,991,584 | 251,617 | |||
7,116,160 | ||||||
Consumer Staples (3.7%) | ||||||
Procter & Gamble Co. | 10,249,438 | 1,573,494 | ||||
Sysco Corp. | 13,768,206 | 993,651 | ||||
Pernod Ricard SA | 4,164,889 | 719,528 | ||||
Unilever plc | 13,306,043 | 634,788 | ||||
3,921,461 | ||||||
Energy (4.5%) | ||||||
Shell plc | 44,633,929 | 1,469,652 | ||||
ConocoPhillips | 9,314,966 | 1,076,531 | ||||
EQT Corp. | 11,054,914 | 441,754 | ||||
Diamondback Energy Inc. | 2,705,793 | 417,801 | ||||
Cenovus Energy Inc. | 22,657,743 | 402,402 | ||||
EOG Resources Inc. | 2,969,296 | 365,431 | ||||
Coterra Energy Inc. | 8,127,108 | 213,337 | ||||
1 | Chesapeake Energy Corp. | 1,923,616 | 154,486 | |||
Exxon Mobil Corp. | 1,454,073 | 149,391 | ||||
4,690,785 | ||||||
Financials (8.3%) | ||||||
Progressive Corp. | 11,244,375 | 1,844,415 | ||||
JPMorgan Chase & Co. | 8,551,950 | 1,334,788 | ||||
S&P Global Inc. | 2,395,982 | 996,321 | ||||
Morgan Stanley | 11,193,175 | 888,067 | ||||
BlackRock Inc. | 1,162,080 | 872,989 | ||||
Intercontinental Exchange Inc. | 7,317,812 | 833,060 | ||||
Global Payments Inc. | 3,157,703 | 367,683 | ||||
Visa Inc. Class A | 1,351,720 | 346,959 |
Shares | Market Value• ($000) | |||||
Mastercard Inc. Class A | 812,993 | 336,441 | ||||
American Express Co. | 1,942,210 | 331,671 | ||||
Everest Group Ltd. | 757,948 | 311,176 | ||||
Goldman Sachs Group Inc. | 673,376 | 229,985 | ||||
8,693,555 | ||||||
Health Care (10.3%) | ||||||
UnitedHealth Group Inc. | 3,176,724 | 1,756,633 | ||||
Danaher Corp. | 5,246,678 | 1,171,636 | ||||
AstraZeneca plc ADR | 16,820,390 | 1,086,429 | ||||
Pfizer Inc. | 35,129,955 | 1,070,410 | ||||
Humana Inc. | 2,129,900 | 1,032,703 | ||||
HCA Healthcare Inc. | 4,086,127 | 1,023,493 | ||||
Merck & Co. Inc. | 8,915,751 | 913,686 | ||||
Novartis AG (Registered) | 9,064,508 | 884,771 | ||||
Becton Dickinson & Co. | 3,238,124 | 764,780 | ||||
Elevance Health Inc. | 1,528,996 | 733,138 | ||||
Daiichi Sankyo Co. Ltd. | 11,967,885 | 324,296 | ||||
10,761,975 | ||||||
Industrials (5.5%) | ||||||
Honeywell International Inc. | 5,260,283 | 1,030,595 | ||||
* | Uber Technologies Inc. | 17,716,431 | 998,852 | |||
Parker-Hannifin Corp. | 1,535,120 | 664,983 | ||||
Fortive Corp. | 9,614,244 | 663,191 | ||||
Illinois Tool Works Inc. | 2,457,232 | 595,166 | ||||
Johnson Controls International plc | 9,123,140 | 481,702 | ||||
RTX Corp. | 5,651,590 | 460,492 | ||||
Deere & Co. | 1,253,555 | 456,808 | ||||
Northrop Grumman Corp. | 833,254 | 395,929 | ||||
5,747,718 | ||||||
Information Technology (15.6%) | ||||||
Microsoft Corp. | 15,179,591 | 5,751,699 | ||||
Apple Inc. | 17,900,298 | 3,400,162 | ||||
Intel Corp. | 22,993,447 | 1,027,807 | ||||
Texas Instruments Inc. | 6,248,110 | 954,149 | ||||
Broadcom Inc. | 945,971 | 875,714 | ||||
* | Salesforce Inc. | 3,229,613 | 813,539 | |||
KLA Corp. | 1,479,898 | 805,982 | ||||
* | Advanced Micro Devices Inc. | 6,507,452 | 788,443 | |||
Accenture plc Class A | 1,931,925 | 643,601 | ||||
Oracle Corp. | 5,444,677 | 632,726 | ||||
Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 4,910,069 | 477,799 | ||||
CDW Corp. | 634,908 | 133,889 | ||||
16,305,510 | ||||||
Materials (1.8%) | ||||||
Glencore plc | 165,712,973 | 927,031 | ||||
Barrick Gold Corp. | 32,022,294 | 563,272 | ||||
Anglo American plc | 14,875,218 | 402,567 | ||||
1,892,870 | ||||||
Real Estate (0.9%) | ||||||
Welltower Inc. | 7,326,283 | 652,772 | ||||
VICI Properties Inc. Class A | 10,490,749 | 313,568 | ||||
966,340 | ||||||
Utilities (2.1%) | ||||||
Duke Energy Corp. | 10,710,937 | 988,405 |
Shares | Market Value• ($000) | |||||
Exelon Corp. | 24,834,902 | 956,392 | ||||
American Electric Power Co. Inc. | 3,914,516 | 311,400 | ||||
2,256,197 | ||||||
Total Common Stocks (Cost $43,522,459) | 68,203,029 | |||||
Coupon | Maturity Date | Face Amount ($000) | ||||
U.S. Government and Agency Obligations (8.5%) | ||||||
U.S. Government Securities (7.1%) | ||||||
United States Treasury Note/Bond | 4.125% | 1/31/25 | 50,000 | 49,445 | ||
United States Treasury Note/Bond | 4.625% | 2/28/25 | 27,000 | 26,857 | ||
United States Treasury Note/Bond | 1.750% | 3/15/25 | 253,740 | 243,392 | ||
United States Treasury Note/Bond | 3.875% | 3/31/25 | 175,000 | 172,430 | ||
2 | United States Treasury Note/Bond | 2.625% | 4/15/25 | 266,680 | 258,346 | |
United States Treasury Note/Bond | 0.250% | 5/31/25 | 511,720 | 477,339 | ||
United States Treasury Note/Bond | 4.250% | 5/31/25 | 145,000 | 143,595 | ||
United States Treasury Note/Bond | 4.625% | 6/30/25 | 165,000 | 164,355 | ||
United States Treasury Note/Bond | 0.250% | 7/31/25 | 145,975 | 135,323 | ||
United States Treasury Note/Bond | 4.750% | 7/31/25 | 140,000 | 139,759 | ||
United States Treasury Note/Bond | 2.000% | 8/15/25 | 61,860 | 59,009 | ||
United States Treasury Note/Bond | 3.125% | 8/15/25 | 248,870 | 241,948 | ||
United States Treasury Note/Bond | 0.250% | 8/31/25 | 125,010 | 115,517 | ||
United States Treasury Note/Bond | 5.000% | 8/31/25 | 155,000 | 155,460 | ||
United States Treasury Note/Bond | 3.500% | 9/15/25 | 5,480 | 5,358 | ||
United States Treasury Note/Bond | 5.000% | 9/30/25 | 294,334 | 295,392 | ||
United States Treasury Note/Bond | 0.375% | 11/30/25 | 78,000 | 71,614 | ||
United States Treasury Note/Bond | 4.000% | 12/15/25 | 65,000 | 64,127 | ||
United States Treasury Note/Bond | 0.375% | 1/31/26 | 626,325 | 571,717 | ||
United States Treasury Note/Bond | 4.000% | 2/15/26 | 120,000 | 118,388 | ||
United States Treasury Note/Bond | 1.625% | 5/15/26 | 31,710 | 29,565 | ||
United States Treasury Note/Bond | 4.500% | 7/15/26 | 2,120 | 2,118 | ||
United States Treasury Note/Bond | 4.375% | 8/15/26 | 218,280 | 217,496 | ||
United States Treasury Note/Bond | 0.750% | 8/31/26 | 120,380 | 108,831 | ||
United States Treasury Note/Bond | 4.625% | 10/15/26 | 105,000 | 105,394 | ||
United States Treasury Note/Bond | 2.000% | 11/15/26 | 17,430 | 16,251 | ||
United States Treasury Note/Bond | 4.625% | 11/15/26 | 190,000 | 190,831 | ||
United States Treasury Note/Bond | 2.500% | 3/31/27 | 231,318 | 217,728 | ||
United States Treasury Note/Bond | 2.750% | 4/30/27 | 136,291 | 129,114 | ||
United States Treasury Note/Bond | 2.750% | 7/31/27 | 229,865 | 217,079 | ||
United States Treasury Note/Bond | 3.125% | 8/31/27 | 50,631 | 48,416 | ||
United States Treasury Note/Bond | 4.125% | 9/30/27 | 35,000 | 34,672 | ||
United States Treasury Note/Bond | 4.125% | 10/31/27 | 182,750 | 181,065 | ||
United States Treasury Note/Bond | 2.250% | 11/15/27 | 24,532 | 22,658 | ||
United States Treasury Note/Bond | 3.875% | 11/30/27 | 67,100 | 65,873 | ||
United States Treasury Note/Bond | 3.875% | 12/31/27 | 40,552 | 39,811 | ||
United States Treasury Note/Bond | 4.000% | 2/29/28 | 78,955 | 77,869 | ||
United States Treasury Note/Bond | 3.625% | 5/31/28 | 12,367 | 12,015 | ||
United States Treasury Note/Bond | 4.000% | 6/30/28 | 19,527 | 19,262 | ||
United States Treasury Note/Bond | 4.125% | 7/31/28 | 208,959 | 207,229 | ||
United States Treasury Note/Bond | 4.375% | 8/31/28 | 253,420 | 254,132 | ||
United States Treasury Note/Bond | 4.625% | 9/30/28 | 186,993 | 189,447 | ||
United States Treasury Note/Bond | 3.875% | 9/30/29 | 4,297 | 4,187 | ||
United States Treasury Note/Bond | 4.000% | 10/31/29 | 15,799 | 15,495 | ||
United States Treasury Note/Bond | 3.500% | 4/30/30 | 8,526 | 8,114 | ||
United States Treasury Note/Bond | 3.750% | 5/31/30 | 21,836 | 21,075 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
United States Treasury Note/Bond | 4.000% | 7/31/30 | 20,804 | 20,362 | ||
United States Treasury Note/Bond | 4.875% | 10/31/30 | 4,088 | 4,212 | ||
United States Treasury Note/Bond | 4.375% | 11/30/30 | 9,420 | 9,429 | ||
United States Treasury Note/Bond | 3.875% | 8/15/33 | 9,833 | 9,461 | ||
United States Treasury Note/Bond | 1.750% | 8/15/41 | 12,610 | 8,112 | ||
United States Treasury Note/Bond | 2.000% | 11/15/41 | 367,375 | 245,969 | ||
United States Treasury Note/Bond | 2.375% | 2/15/42 | 8,898 | 6,337 | ||
United States Treasury Note/Bond | 3.250% | 5/15/42 | 20,950 | 17,146 | ||
United States Treasury Note/Bond | 3.375% | 8/15/42 | 198,343 | 164,997 | ||
United States Treasury Note/Bond | 4.000% | 11/15/42 | 140,357 | 127,615 | ||
United States Treasury Note/Bond | 3.875% | 2/15/43 | 188,834 | 168,476 | ||
United States Treasury Note/Bond | 3.875% | 5/15/43 | 178,026 | 158,693 | ||
United States Treasury Note/Bond | 4.375% | 8/15/43 | 149,291 | 142,737 | ||
United States Treasury Note/Bond | 3.000% | 8/15/52 | 109 | 82 | ||
United States Treasury Note/Bond | 4.000% | 11/15/52 | 13,049 | 11,928 | ||
United States Treasury Note/Bond | 3.625% | 2/15/53 | 53,831 | 45,933 | ||
United States Treasury Note/Bond | 3.625% | 5/15/53 | 245,310 | 209,472 | ||
United States Treasury Note/Bond | 4.125% | 8/15/53 | 107,544 | 100,604 | ||
7,396,663 | ||||||
Conventional Mortgage-Backed Securities (1.2%) | ||||||
3,4 | Fannie Mae Pool | 1.770% | 1/1/36 | 19,696 | 14,733 | |
3 | Ginnie Mae I Pool | 7.000% | 11/15/32–11/15/33 | 714 | 731 | |
3,4 | UMBS Pool | 2.000% | 4/1/36–3/1/37 | 182,737 | 160,494 | |
3,4 | UMBS Pool | 2.500% | 9/1/27–4/1/38 | 23,463 | 20,732 | |
3,4 | UMBS Pool | 3.000% | 3/1/33–11/1/46 | 26,061 | 24,706 | |
3,4 | UMBS Pool | 3.500% | 11/1/45–6/1/46 | 49 | 44 | |
3,4 | UMBS Pool | 4.000% | 3/1/46–8/1/51 | 39,485 | 36,822 | |
3,4,5 | UMBS Pool | 4.500% | 7/1/48–12/25/53 | 407,134 | 382,640 | |
3,4 | UMBS Pool | 5.000% | 8/1/43–5/1/53 | 610,211 | 589,613 | |
3,4 | UMBS Pool | 5.500% | 3/1/53–9/1/53 | 88,254 | 87,215 | |
1,317,730 | ||||||
Nonconventional Mortgage-Backed Securities (0.2%) | ||||||
3,4 | Fannie Mae REMICS | 1.500% | 8/25/41–11/25/42 | 3,233 | 2,931 | |
3,4 | Fannie Mae REMICS | 1.700% | 6/25/43 | 926 | 886 | |
3,4 | Fannie Mae REMICS | 2.000% | 6/25/44 | 140 | 137 | |
3,4 | Fannie Mae REMICS | 2.500% | 8/25/46 | 11,059 | 8,450 | |
3,4 | Fannie Mae REMICS | 3.000% | 12/25/39–9/25/57 | 39,474 | 34,454 | |
3,4 | Fannie Mae REMICS | 3.500% | 4/25/31–11/25/57 | 56,627 | 52,441 | |
3,4 | Fannie Mae REMICS | 4.000% | 7/25/53 | 1,978 | 1,914 | |
3,4 | Freddie Mac REMICS | 1.500% | 10/15/42 | 4,939 | 4,301 | |
3,4 | Freddie Mac REMICS | 3.000% | 6/15/44–7/15/45 | 8,765 | 7,405 | |
3,4 | Freddie Mac REMICS | 3.500% | 3/15/31–12/15/46 | 12,933 | 11,431 | |
3,4 | Freddie Mac REMICS | 4.000% | 12/15/30–2/15/31 | 3,864 | 3,733 | |
3 | Ginnie Mae REMICS | 2.500% | 10/20/49 | 71,273 | 60,788 | |
188,871 | ||||||
Total U.S. Government and Agency Obligations (Cost $9,310,025) | 8,903,264 | |||||
Asset-Backed/Commercial Mortgage-Backed Securities (1.0%) | ||||||
3,6 | Aaset Trust Series 2019-1 | 3.844% | 5/15/39 | 4,478 | 3,381 | |
3,6 | Affirm Asset Securitization Trust Series 2021-Z1 | 1.070% | 8/15/25 | 1,760 | 1,732 | |
3,6 | Affirm Asset Securitization Trust Series 2021-Z2 | 1.170% | 11/16/26 | 3,447 | 3,382 | |
3,6 | Aligned Data Centers Issuer LLC Series 2021-1A | 1.937% | 8/15/46 | 60,180 | 53,099 | |
3 | American Express Credit Account Master Trust Series 2023-4 | 5.150% | 9/15/30 | 43,970 | 44,358 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3,6 | American Tower Trust #1 | 5.490% | 3/15/28 | 66,310 | 66,384 | |
3,6 | Angel Oak Mortgage Trust Series 2019-5 | 2.593% | 10/25/49 | 1,349 | 1,292 | |
3,6 | Angel Oak Mortgage Trust Series 2019-6 | 2.620% | 11/25/59 | 3,305 | 3,172 | |
3,6 | Angel Oak Mortgage Trust Series 2021-6 | 1.458% | 9/25/66 | 21,911 | 16,976 | |
3,6,7 | BX Commercial Mortgage Trust Series 2021-VOLT, TSFR1M + 0.814% | 6.137% | 9/15/36 | 25,090 | 24,337 | |
3,6,7 | BX Trust Series 2021-ARIA, TSFR1M + 1.014% | 6.337% | 10/15/36 | 14,785 | 14,357 | |
3,6 | Castlelake Aircraft Structured Trust Series 2019-1A | 3.967% | 4/15/39 | 18,256 | 15,975 | |
3,6 | CF Hippolyta Issuer LLC Series 2020-1 | 1.690% | 7/15/60 | 5,132 | 4,697 | |
3,6 | CF Hippolyta Issuer LLC Series 2021-1A | 1.530% | 3/15/61 | 36,873 | 32,662 | |
3,6 | CF Hippolyta Issuer LLC Series 2022-1A | 5.970% | 8/15/62 | 3,603 | 3,522 | |
3,6 | DB Master Finance LLC Series 2019-1A | 4.021% | 5/20/49 | 13,640 | 12,983 | |
3,6 | Domino's Pizza Master Issuer LLC Series 2021-1A | 2.662% | 4/25/51 | 13,411 | 11,527 | |
3,6 | Domino's Pizza Master Issuer LLC Series 2021-1A | 3.151% | 4/25/51 | 23,556 | 19,531 | |
3,6 | Enterprise Fleet Financing LLC Series 2023-3 | 6.400% | 3/20/30 | 47,500 | 47,930 | |
3,4,7 | Fannie Mae Connecticut Avenue Securities Series 2016-C03, SOFR30A + 6.014% | 11.343% | 10/25/28 | 1,897 | 2,020 | |
3,6 | FirstKey Homes Trust Series 2021-SFR1 | 1.538% | 8/17/38 | 64,087 | 56,852 | |
3,4 | Freddie Mac Multifamily Structured Pass-Through Certificates Series K156 | 4.430% | 2/25/33 | 28,605 | 27,426 | |
3,4,5 | Freddie Mac Multifamily Structured Pass-Through Certificates Series K511 | 4.860% | 10/25/28 | 40,745 | 40,632 | |
3,4 | Freddie Mac Multifamily Structured Pass-Through Certificates Series K-1512 | 3.059% | 4/25/34 | 6,000 | 4,983 | |
3,4 | Freddie Mac Multifamily Structured Pass-Through Certificates Series K-1513 | 2.797% | 8/25/34 | 7,500 | 6,048 | |
3,4 | Freddie Mac Multifamily Structured Pass-Through Certificates Series K-1521 | 2.184% | 8/25/36 | 17,705 | 12,900 | |
3 | GM Financial Consumer Automobile Receivables Trust Series 2023-2 | 4.470% | 2/16/28 | 9,420 | 9,275 | |
3,6 | GM Financial Revolving Receivables Trust Series 2023-2 | 5.770% | 8/11/36 | 21,405 | 21,885 | |
3,6 | Home Partners of America Trust Series 2021-2 | 1.901% | 12/17/26 | 32,770 | 28,975 | |
3,6 | Horizon Aircraft Finance II Ltd. Series 2019-1 | 3.721% | 7/15/39 | 8,096 | 7,033 | |
3,6 | Horizon Aircraft Finance III Ltd. Series 2019-2 | 3.425% | 11/15/39 | 9,658 | 7,567 | |
3,6,7 | Life Mortgage Trust Series 2021-BMR, TSFR1M + 0.814% | 6.137% | 3/15/38 | 9,146 | 8,918 | |
3,6 | MACH 1 Cayman Ltd. Series 2019-1 | 3.474% | 10/15/39 | 8,233 | 7,098 | |
3,6 | MAPS Ltd. Series 2019-1A | 4.458% | 3/15/44 | 2,469 | 2,215 | |
3,6 | New Economy Assets Phase 1 Sponsor LLC Series 2021-1 | 1.910% | 10/20/61 | 125,560 | 108,826 | |
3,6 | New Economy Assets Phase 1 Sponsor LLC Series 2021-1 | 2.410% | 10/20/61 | 10,325 | 8,808 | |
3,6 | OneMain Direct Auto Receivables Trust Series 2021-1A | 0.870% | 7/14/28 | 28,353 | 27,120 | |
3,6 | Retained Vantage Data Centers Issuer LLC Series 2023-1A | 5.000% | 9/15/48 | 58,946 | 54,137 | |
3 | Seasoned Credit Risk Transfer Trust Series 2019-3 | 3.500% | 10/25/58 | 22,177 | 20,429 | |
3,6 | SFAVE Commercial Mortgage Securities Trust Series 2015-5AVE | 4.144% | 1/5/43 | 27,300 | 18,730 | |
3,6 | SoFi Professional Loan Program Trust Series 2021-B | 1.140% | 2/15/47 | 13,718 | 11,340 | |
3,6 | Start II Ltd. Series 2019-1 | 4.089% | 3/15/44 | 9,072 | 7,959 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3,6 | Taco Bell Funding LLC Series 2021-1A | 1.946% | 8/25/51 | 19,129 | 16,908 | |
3,6 | Taco Bell Funding LLC Series 2021-1A | 2.294% | 8/25/51 | 35,385 | 29,416 | |
3,6 | Vantage Data Centers Issuer LLC Series 2019-1A | 3.188% | 7/15/44 | 10,461 | 10,233 | |
3,6 | Vantage Data Centers Issuer LLC Series 2020-1A | 1.645% | 9/15/45 | 29,505 | 26,958 | |
3,6 | Vantage Data Centers Issuer LLC Series 2021-1A | 2.165% | 10/15/46 | 48,430 | 42,841 | |
3,6 | Wheels Fleet Lease Funding LLC Series 2023-1A | 5.800% | 4/18/38 | 34,995 | 34,902 | |
3,6 | Wheels Fleet Lease Funding LLC Series 2023-2A | 6.460% | 8/18/38 | 25,780 | 26,069 | |
Total Asset-Backed/Commercial Mortgage-Backed Securities (Cost $1,164,606) | 1,069,800 | |||||
Corporate Bonds (21.9%) | ||||||
Communications (1.1%) | ||||||
America Movil SAB de CV | 3.625% | 4/22/29 | 26,990 | 24,801 | ||
America Movil SAB de CV | 6.125% | 3/30/40 | 7,380 | 7,609 | ||
AT&T Inc. | 4.300% | 12/15/42 | 35,590 | 29,108 | ||
AT&T Inc. | 3.650% | 6/1/51 | 8,341 | 5,808 | ||
Charter Communications Operating LLC | 3.500% | 3/1/42 | 29,050 | 19,152 | ||
Charter Communications Operating LLC | 6.484% | 10/23/45 | 24,277 | 22,515 | ||
Charter Communications Operating LLC | 5.375% | 5/1/47 | 8,253 | 6,670 | ||
Comcast Corp. | 3.400% | 4/1/30 | 4,940 | 4,504 | ||
Comcast Corp. | 4.250% | 1/15/33 | 42,890 | 39,987 | ||
Comcast Corp. | 4.200% | 8/15/34 | 30,890 | 28,217 | ||
Comcast Corp. | 5.650% | 6/15/35 | 4,725 | 4,850 | ||
Comcast Corp. | 4.400% | 8/15/35 | 32,325 | 29,683 | ||
Comcast Corp. | 6.500% | 11/15/35 | 945 | 1,035 | ||
Comcast Corp. | 3.969% | 11/1/47 | 8,452 | 6,630 | ||
Comcast Corp. | 4.000% | 3/1/48 | 12,180 | 9,628 | ||
Comcast Corp. | 3.999% | 11/1/49 | 23,162 | 18,133 | ||
Comcast Corp. | 2.887% | 11/1/51 | 56,240 | 35,471 | ||
Comcast Corp. | 2.450% | 8/15/52 | 13,355 | 7,716 | ||
Comcast Corp. | 4.049% | 11/1/52 | 10,339 | 8,066 | ||
Comcast Corp. | 5.350% | 5/15/53 | 48,000 | 46,380 | ||
Comcast Corp. | 2.937% | 11/1/56 | 210,578 | 128,555 | ||
Comcast Corp. | 2.987% | 11/1/63 | 91,251 | 54,244 | ||
6 | Cox Communications Inc. | 3.150% | 8/15/24 | 2,503 | 2,455 | |
6 | Cox Communications Inc. | 4.800% | 2/1/35 | 30,000 | 26,905 | |
Discovery Communications LLC | 4.125% | 5/15/29 | 14,172 | 13,080 | ||
Discovery Communications LLC | 3.625% | 5/15/30 | 20,000 | 17,666 | ||
Discovery Communications LLC | 5.300% | 5/15/49 | 5,000 | 4,086 | ||
Discovery Communications LLC | 4.000% | 9/15/55 | 29,815 | 19,684 | ||
Meta Platforms Inc. | 4.950% | 5/15/33 | 49,450 | 49,176 | ||
Meta Platforms Inc. | 5.600% | 5/15/53 | 30,075 | 30,592 | ||
Meta Platforms Inc. | 5.750% | 5/15/63 | 15,440 | 15,714 | ||
NBCUniversal Media LLC | 4.450% | 1/15/43 | 6,331 | 5,431 | ||
6 | NTT Finance Corp. | 1.162% | 4/3/26 | 44,235 | 40,282 | |
6 | NTT Finance Corp. | 2.065% | 4/3/31 | 12,995 | 10,497 | |
6 | Ooredoo International Finance Ltd. | 2.625% | 4/8/31 | 23,430 | 19,704 | |
Orange SA | 9.000% | 3/1/31 | 20,280 | 24,518 | ||
6 | Sprint Spectrum Co. LLC | 4.738% | 3/20/25 | 16,224 | 16,092 | |
Telefonica Emisiones SA | 5.213% | 3/8/47 | 19,100 | 16,354 | ||
Telefonica Emisiones SA | 5.520% | 3/1/49 | 19,772 | 17,588 | ||
T-Mobile USA Inc. | 2.050% | 2/15/28 | 29,985 | 26,375 | ||
T-Mobile USA Inc. | 3.875% | 4/15/30 | 70,676 | 64,903 | ||
T-Mobile USA Inc. | 4.375% | 4/15/40 | 15,735 | 13,448 | ||
T-Mobile USA Inc. | 3.000% | 2/15/41 | 4,885 | 3,441 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
TWDC Enterprises 18 Corp. | 4.375% | 8/16/41 | 26,724 | 23,026 | ||
Verizon Communications Inc. | 4.329% | 9/21/28 | 14,919 | 14,407 | ||
Verizon Communications Inc. | 2.355% | 3/15/32 | 64,265 | 51,245 | ||
Verizon Communications Inc. | 4.812% | 3/15/39 | 24,854 | 22,746 | ||
Walt Disney Co. | 2.650% | 1/13/31 | 7,914 | 6,804 | ||
Walt Disney Co. | 3.500% | 5/13/40 | 50,260 | 40,424 | ||
Walt Disney Co. | 4.750% | 9/15/44 | 2,358 | 2,124 | ||
Walt Disney Co. | 4.750% | 11/15/46 | 14,000 | 12,573 | ||
Walt Disney Co. | 2.750% | 9/1/49 | 16,835 | 10,818 | ||
Warnermedia Holdings Inc. | 3.755% | 3/15/27 | 9,767 | 9,215 | ||
Warnermedia Holdings Inc. | 4.054% | 3/15/29 | 4,854 | 4,485 | ||
Warnermedia Holdings Inc. | 5.141% | 3/15/52 | 9,709 | 7,759 | ||
1,182,379 | ||||||
Consumer Discretionary (0.7%) | ||||||
Amazon.com Inc. | 3.600% | 4/13/32 | 84,875 | 78,083 | ||
Amazon.com Inc. | 4.800% | 12/5/34 | 37,370 | 37,651 | ||
Amazon.com Inc. | 4.950% | 12/5/44 | 22,605 | 22,193 | ||
Amazon.com Inc. | 3.950% | 4/13/52 | 17,395 | 14,237 | ||
Amazon.com Inc. | 4.250% | 8/22/57 | 37,717 | 32,304 | ||
3 | American Honda Finance Corp. | 2.000% | 3/24/28 | 19,250 | 16,975 | |
6 | BMW US Capital LLC | 1.250% | 8/12/26 | 28,900 | 26,140 | |
3 | Brown University | 2.924% | 9/1/50 | 5,205 | 3,467 | |
3 | Duke University | 2.832% | 10/1/55 | 25,700 | 16,105 | |
General Motors Financial Co. Inc. | 3.950% | 4/13/24 | 57,810 | 57,344 | ||
3 | Georgetown University | 4.315% | 4/1/49 | 5,405 | 4,500 | |
3 | Georgetown University | 2.943% | 4/1/50 | 9,430 | 6,034 | |
Georgetown University | 5.115% | 4/1/53 | 12,435 | 11,798 | ||
Home Depot Inc. | 3.900% | 12/6/28 | 10,250 | 9,860 | ||
Home Depot Inc. | 2.700% | 4/15/30 | 56 | 49 | ||
Home Depot Inc. | 3.250% | 4/15/32 | 44,440 | 39,466 | ||
Home Depot Inc. | 4.500% | 9/15/32 | 27,360 | 26,792 | ||
Home Depot Inc. | 3.300% | 4/15/40 | 18,410 | 14,351 | ||
Home Depot Inc. | 4.400% | 3/15/45 | 28,655 | 24,966 | ||
Home Depot Inc. | 4.250% | 4/1/46 | 25,000 | 21,139 | ||
Home Depot Inc. | 4.500% | 12/6/48 | 12,215 | 10,779 | ||
Home Depot Inc. | 3.125% | 12/15/49 | 2,490 | 1,715 | ||
Home Depot Inc. | 2.375% | 3/15/51 | 2,495 | 1,456 | ||
Home Depot Inc. | 2.750% | 9/15/51 | 19,955 | 12,579 | ||
Home Depot Inc. | 3.625% | 4/15/52 | 25,570 | 19,224 | ||
Home Depot Inc. | 4.950% | 9/15/52 | 36,582 | 34,660 | ||
6 | Hyundai Capital America | 0.875% | 6/14/24 | 49,225 | 47,918 | |
6 | Hyundai Capital America | 1.650% | 9/17/26 | 36,480 | 32,678 | |
3 | Johns Hopkins University | 4.083% | 7/1/53 | 7,805 | 6,314 | |
3 | Johns Hopkins University | 2.813% | 1/1/60 | 6,420 | 3,824 | |
3 | Leland Stanford Junior University | 7.650% | 6/15/26 | 29,000 | 30,407 | |
Lowe's Cos. Inc. | 3.100% | 5/3/27 | 8,700 | 8,193 | ||
Lowe's Cos. Inc. | 6.500% | 3/15/29 | 13,301 | 14,115 | ||
Lowe's Cos. Inc. | 3.750% | 4/1/32 | 7,464 | 6,680 | ||
Lowe's Cos. Inc. | 5.800% | 9/15/62 | 8,253 | 7,967 | ||
3 | Massachusetts Institute of Technology | 2.989% | 7/1/50 | 852 | 584 | |
3 | Massachusetts Institute of Technology | 2.294% | 7/1/51 | 945 | 548 | |
Massachusetts Institute of Technology | 3.067% | 4/1/52 | 405 | 280 | ||
3 | McDonald's Corp. | 4.875% | 7/15/40 | 10,000 | 9,219 | |
3 | Northeastern University | 2.894% | 10/1/50 | 6,995 | 4,505 | |
3 | Northwestern University | 2.640% | 12/1/50 | 805 | 505 | |
President & Fellows of Harvard College | 2.517% | 10/15/50 | 1,028 | 642 | ||
President & Fellows of Harvard College | 3.745% | 11/15/52 | 450 | 355 | ||
Thomas Jefferson University | 3.847% | 11/1/57 | 23,125 | 15,991 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3 | Trustees of Princeton University | 2.516% | 7/1/50 | 1,997 | 1,268 | |
Trustees of Princeton University | 4.201% | 3/1/52 | 2,157 | 1,845 | ||
3 | Trustees of the University of Pennsylvania | 2.396% | 10/1/50 | 6,430 | 3,813 | |
3 | University of Chicago | 2.761% | 4/1/45 | 5,825 | 4,098 | |
University of Southern California | 4.976% | 10/1/53 | 22,830 | 21,679 | ||
3 | Yale University | 2.402% | 4/15/50 | 361 | 217 | |
767,512 | ||||||
Consumer Staples (0.9%) | ||||||
Anheuser-Busch Cos. LLC | 6.500% | 1/1/28 | 19,550 | 20,511 | ||
3 | Anheuser-Busch Cos. LLC | 4.700% | 2/1/36 | 35,700 | 34,024 | |
3 | Anheuser-Busch Cos. LLC | 4.900% | 2/1/46 | 32,546 | 30,116 | |
Anheuser-Busch InBev Worldwide Inc. | 4.375% | 4/15/38 | 17,598 | 15,928 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.950% | 1/15/42 | 41,163 | 38,923 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.750% | 4/15/58 | 30,829 | 27,413 | ||
Anheuser-Busch InBev Worldwide Inc. | 5.800% | 1/23/59 | 10,479 | 10,952 | ||
Anheuser-Busch InBev Worldwide Inc. | 4.600% | 6/1/60 | 12,237 | 10,533 | ||
Archer-Daniels-Midland Co. | 4.500% | 3/15/49 | 35,045 | 30,613 | ||
BAT Capital Corp. | 6.343% | 8/2/30 | 10,115 | 10,378 | ||
BAT Capital Corp. | 7.079% | 8/2/43 | 11,335 | 11,535 | ||
6 | Cargill Inc. | 6.875% | 5/1/28 | 19,355 | 20,395 | |
6 | Cargill Inc. | 4.760% | 11/23/45 | 28,190 | 24,976 | |
6 | CK Hutchison International 20 Ltd. | 3.375% | 5/8/50 | 22,015 | 15,512 | |
6 | Coca-Cola Europacific Partners plc | 0.800% | 5/3/24 | 32,165 | 31,417 | |
3 | Colgate-Palmolive Co. | 7.600% | 5/19/25 | 13,920 | 14,454 | |
Conagra Brands Inc. | 4.600% | 11/1/25 | 7,855 | 7,706 | ||
Conagra Brands Inc. | 1.375% | 11/1/27 | 4,341 | 3,731 | ||
6 | Danone SA | 2.947% | 11/2/26 | 30,550 | 28,773 | |
Diageo Capital plc | 2.375% | 10/24/29 | 20,000 | 17,382 | ||
Diageo Capital plc | 2.000% | 4/29/30 | 5,830 | 4,853 | ||
Diageo Capital plc | 2.125% | 4/29/32 | 1,845 | 1,466 | ||
Diageo Capital plc | 5.625% | 10/5/33 | 34,450 | 35,601 | ||
Hormel Foods Corp. | 1.700% | 6/3/28 | 8,125 | 7,147 | ||
Kenvue Inc. | 5.000% | 3/22/30 | 33,325 | 33,466 | ||
Kenvue Inc. | 5.100% | 3/22/43 | 15,025 | 14,646 | ||
Kenvue Inc. | 5.050% | 3/22/53 | 16,335 | 15,618 | ||
McCormick & Co. Inc. | 2.500% | 4/15/30 | 3,205 | 2,719 | ||
Molson Coors Beverage Co. | 3.000% | 7/15/26 | 54,900 | 52,017 | ||
Philip Morris International Inc. | 3.375% | 8/11/25 | 14,440 | 13,981 | ||
Philip Morris International Inc. | 5.125% | 11/17/27 | 39,385 | 39,429 | ||
Philip Morris International Inc. | 5.625% | 11/17/29 | 39,305 | 39,973 | ||
Philip Morris International Inc. | 5.125% | 2/15/30 | 107,792 | 106,365 | ||
Philip Morris International Inc. | 5.750% | 11/17/32 | 50,815 | 51,944 | ||
Philip Morris International Inc. | 5.375% | 2/15/33 | 83,714 | 82,467 | ||
Philip Morris International Inc. | 4.875% | 11/15/43 | 6,185 | 5,454 | ||
6 | Sigma Alimentos SA de CV | 4.125% | 5/2/26 | 14,750 | 14,034 | |
926,452 | ||||||
Energy (1.1%) | ||||||
6 | Aker BP ASA | 6.000% | 6/13/33 | 17,570 | 17,587 | |
BP Capital Markets America Inc. | 1.749% | 8/10/30 | 12,780 | 10,479 | ||
BP Capital Markets America Inc. | 2.721% | 1/12/32 | 42,755 | 36,088 | ||
BP Capital Markets America Inc. | 4.812% | 2/13/33 | 38,275 | 37,173 | ||
BP Capital Markets America Inc. | 4.893% | 9/11/33 | 39,975 | 39,033 | ||
BP Capital Markets America Inc. | 3.060% | 6/17/41 | 20,000 | 14,626 | ||
BP Capital Markets America Inc. | 2.772% | 11/10/50 | 11,870 | 7,442 | ||
BP Capital Markets America Inc. | 2.939% | 6/4/51 | 30,385 | 19,661 | ||
BP Capital Markets America Inc. | 3.001% | 3/17/52 | 61,366 | 40,050 | ||
BP Capital Markets America Inc. | 3.379% | 2/8/61 | 12,750 | 8,516 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
6 | Cheniere Energy Partners LP | 5.950% | 6/30/33 | 23,000 | 22,837 | |
6 | Columbia Pipelines Operating Co. LLC | 5.927% | 8/15/30 | 11,830 | 11,884 | |
6 | Columbia Pipelines Operating Co. LLC | 6.497% | 8/15/43 | 39,861 | 40,386 | |
6 | Columbia Pipelines Operating Co. LLC | 6.544% | 11/15/53 | 8,253 | 8,422 | |
6 | Columbia Pipelines Operating Co. LLC | 6.714% | 8/15/63 | 8,253 | 8,533 | |
Eastern Gas Transmission & Storage Inc. | 3.000% | 11/15/29 | 19,580 | 17,059 | ||
3 | Eastern Gas Transmission & Storage Inc. | 4.800% | 11/1/43 | 4,185 | 3,532 | |
3 | Eastern Gas Transmission & Storage Inc. | 4.600% | 12/15/44 | 24,863 | 19,925 | |
6 | EIG Pearl Holdings Sarl | 3.545% | 8/31/36 | 21,220 | 17,700 | |
6 | EIG Pearl Holdings Sarl | 4.387% | 11/30/46 | 16,115 | 11,929 | |
Enbridge Inc. | 6.000% | 11/15/28 | 12,495 | 12,846 | ||
Enbridge Inc. | 6.200% | 11/15/30 | 18,500 | 19,231 | ||
Energy Transfer LP | 5.250% | 4/15/29 | 40,000 | 39,325 | ||
Energy Transfer LP | 6.550% | 12/1/33 | 15,150 | 15,865 | ||
Energy Transfer LP | 5.350% | 5/15/45 | 3,500 | 3,055 | ||
Energy Transfer LP | 5.300% | 4/15/47 | 5,745 | 4,976 | ||
Energy Transfer LP | 5.400% | 10/1/47 | 8,253 | 7,268 | ||
Energy Transfer LP | 5.000% | 5/15/50 | 5,110 | 4,301 | ||
Enterprise Products Operating LLC | 5.100% | 2/15/45 | 9,720 | 9,121 | ||
Enterprise Products Operating LLC | 3.700% | 1/31/51 | 5,935 | 4,449 | ||
Enterprise Products Operating LLC | 3.300% | 2/15/53 | 15,000 | 10,482 | ||
Exxon Mobil Corp. | 3.043% | 3/1/26 | 8,115 | 7,808 | ||
Exxon Mobil Corp. | 2.275% | 8/16/26 | 36,735 | 34,540 | ||
Exxon Mobil Corp. | 2.440% | 8/16/29 | 17,771 | 15,701 | ||
Exxon Mobil Corp. | 2.610% | 10/15/30 | 35,925 | 31,308 | ||
Exxon Mobil Corp. | 4.114% | 3/1/46 | 12,060 | 10,180 | ||
6 | Galaxy Pipeline Assets Bidco Ltd. | 2.160% | 3/31/34 | 43,699 | 36,999 | |
6 | Galaxy Pipeline Assets Bidco Ltd. | 2.940% | 9/30/40 | 41,504 | 32,681 | |
6 | Greensaif Pipelines Bidco Sarl | 6.129% | 2/23/38 | 8,839 | 8,837 | |
6 | Greensaif Pipelines Bidco Sarl | 6.510% | 2/23/42 | 26,755 | 26,827 | |
Occidental Petroleum Corp. | 6.450% | 9/15/36 | 8,253 | 8,466 | ||
Occidental Petroleum Corp. | 6.200% | 3/15/40 | 2,913 | 2,866 | ||
Occidental Petroleum Corp. | 6.600% | 3/15/46 | 9,250 | 9,477 | ||
ONEOK Inc. | 5.650% | 11/1/28 | 10,995 | 11,076 | ||
6 | Schlumberger Holdings Corp. | 3.900% | 5/17/28 | 31,025 | 29,468 | |
Schlumberger Investment SA | 3.650% | 12/1/23 | 44,520 | 44,520 | ||
Shell International Finance BV | 3.250% | 5/11/25 | 11,051 | 10,764 | ||
Shell International Finance BV | 4.125% | 5/11/35 | 43,465 | 39,829 | ||
Shell International Finance BV | 5.500% | 3/25/40 | 12,990 | 13,206 | ||
Shell International Finance BV | 2.875% | 11/26/41 | 15,000 | 10,729 | ||
Shell International Finance BV | 4.375% | 5/11/45 | 96,700 | 83,726 | ||
Shell International Finance BV | 4.000% | 5/10/46 | 10,000 | 8,149 | ||
Shell International Finance BV | 3.000% | 11/26/51 | 52,435 | 34,864 | ||
Suncor Energy Inc. | 5.950% | 12/1/34 | 20,700 | 20,642 | ||
Targa Resources Corp. | 6.150% | 3/1/29 | 29,070 | 29,712 | ||
TransCanada PipeLines Ltd. | 4.875% | 1/15/26 | 47,256 | 46,633 | ||
TransCanada PipeLines Ltd. | 4.100% | 4/15/30 | 7,125 | 6,564 | ||
1,139,353 | ||||||
Financials (10.0%) | ||||||
ACE Capital Trust II | 9.700% | 4/1/30 | 20,000 | 23,122 | ||
AerCap Ireland Capital DAC | 3.000% | 10/29/28 | 15,230 | 13,433 | ||
AerCap Ireland Capital DAC | 3.300% | 1/30/32 | 3,550 | 2,944 | ||
AerCap Ireland Capital DAC | 3.400% | 10/29/33 | 9,080 | 7,353 | ||
6 | AIA Group Ltd. | 3.600% | 4/9/29 | 50,475 | 46,699 | |
6 | AIA Group Ltd. | 3.375% | 4/7/30 | 12,460 | 11,148 | |
Allstate Corp. | 5.250% | 3/30/33 | 17,545 | 17,291 | ||
Allstate Corp. | 5.550% | 5/9/35 | 6,611 | 6,579 | ||
Allstate Corp. | 3.850% | 8/10/49 | 4,741 | 3,517 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
American Express Co. | 6.489% | 10/30/31 | 10,570 | 11,129 | ||
American Express Co. | 5.043% | 5/1/34 | 66,555 | 64,163 | ||
American International Group Inc. | 6.250% | 5/1/36 | 7,775 | 7,935 | ||
American International Group Inc. | 4.800% | 7/10/45 | 10,680 | 9,227 | ||
American International Group Inc. | 4.750% | 4/1/48 | 21,995 | 19,088 | ||
American International Group Inc. | 4.375% | 6/30/50 | 12,500 | 10,076 | ||
Ameriprise Financial Inc. | 5.700% | 12/15/28 | 21,210 | 21,706 | ||
Ameriprise Financial Inc. | 4.500% | 5/13/32 | 11,845 | 11,282 | ||
Ameriprise Financial Inc. | 5.150% | 5/15/33 | 23,715 | 23,195 | ||
Aon Corp. | 2.850% | 5/28/27 | 18,870 | 17,489 | ||
6 | Athene Global Funding | 1.000% | 4/16/24 | 22,095 | 21,622 | |
6 | Athene Global Funding | 1.985% | 8/19/28 | 290 | 243 | |
6 | Athene Global Funding | 2.717% | 1/7/29 | 33,350 | 28,227 | |
6 | Australia & New Zealand Banking Group Ltd. | 2.570% | 11/25/35 | 22,135 | 17,078 | |
6 | Aviation Capital Group LLC | 1.950% | 9/20/26 | 14,298 | 12,681 | |
Banco Santander SA | 1.849% | 3/25/26 | 14,000 | 12,761 | ||
Banco Santander SA | 2.749% | 12/3/30 | 11,800 | 9,238 | ||
Banco Santander SA | 2.958% | 3/25/31 | 10,000 | 8,200 | ||
3 | Bank of America Corp. | 3.500% | 4/19/26 | 10,000 | 9,619 | |
3 | Bank of America Corp. | 3.559% | 4/23/27 | 86,705 | 82,455 | |
3 | Bank of America Corp. | 3.593% | 7/21/28 | 47,950 | 44,771 | |
3 | Bank of America Corp. | 3.419% | 12/20/28 | 8,681 | 7,977 | |
3 | Bank of America Corp. | 4.271% | 7/23/29 | 74,365 | 70,228 | |
3 | Bank of America Corp. | 3.974% | 2/7/30 | 120,185 | 111,088 | |
3 | Bank of America Corp. | 3.194% | 7/23/30 | 35,285 | 31,010 | |
3 | Bank of America Corp. | 2.496% | 2/13/31 | 50,870 | 42,268 | |
Bank of America Corp. | 2.572% | 10/20/32 | 17,275 | 13,753 | ||
3 | Bank of America Corp. | 5.015% | 7/22/33 | 10,085 | 9,583 | |
Bank of America Corp. | 5.872% | 9/15/34 | 51,655 | 51,828 | ||
Bank of America Corp. | 3.846% | 3/8/37 | 40,872 | 34,506 | ||
3 | Bank of America Corp. | 5.875% | 2/7/42 | 9,965 | 10,229 | |
Bank of America Corp. | 3.311% | 4/22/42 | 55,635 | 41,027 | ||
3 | Bank of America Corp. | 5.000% | 1/21/44 | 39,433 | 36,641 | |
3 | Bank of America Corp. | 3.946% | 1/23/49 | 5,380 | 4,226 | |
3 | Bank of America Corp. | 4.330% | 3/15/50 | 66,970 | 55,563 | |
Bank of America Corp. | 2.972% | 7/21/52 | 65,950 | 43,268 | ||
Bank of America NA | 5.526% | 8/18/26 | 72,681 | 73,267 | ||
3 | Bank of New York Mellon Corp. | 3.000% | 2/24/25 | 27,990 | 27,149 | |
3 | Bank of New York Mellon Corp. | 5.148% | 5/22/26 | 17,665 | 17,547 | |
3 | Bank of New York Mellon Corp. | 5.834% | 10/25/33 | 18,540 | 18,887 | |
Bank of New York Mellon Corp. | 4.706% | 2/1/34 | 14,535 | 13,622 | ||
3 | Bank of New York Mellon Corp. | 4.967% | 4/26/34 | 36,300 | 34,529 | |
Bank of Nova Scotia | 2.700% | 8/3/26 | 63,160 | 59,002 | ||
5 | Bank of Nova Scotia | 5.350% | 12/7/26 | 58,000 | 57,872 | |
Bank of Nova Scotia | 1.950% | 2/2/27 | 12,470 | 11,282 | ||
6 | Banque Federative du Credit Mutuel SA | 1.604% | 10/4/26 | 34,305 | 30,823 | |
3 | Barclays plc | 3.932% | 5/7/25 | 55,605 | 55,050 | |
3 | Barclays plc | 2.852% | 5/7/26 | 9,975 | 9,507 | |
Barclays plc | 2.279% | 11/24/27 | 14,930 | 13,400 | ||
Barclays plc | 2.667% | 3/10/32 | 40,502 | 31,945 | ||
Barclays plc | 3.330% | 11/24/42 | 37,170 | 25,659 | ||
Berkshire Hathaway Finance Corp. | 2.875% | 3/15/32 | 4,750 | 4,111 | ||
BlackRock Inc. | 2.100% | 2/25/32 | 24,849 | 19,937 | ||
BlackRock Inc. | 4.750% | 5/25/33 | 68,215 | 66,366 | ||
6 | Blackstone Holdings Finance Co. LLC | 2.550% | 3/30/32 | 22,680 | 17,795 | |
6 | BNP Paribas SA | 2.819% | 11/19/25 | 45,685 | 44,268 | |
6 | BNP Paribas SA | 1.323% | 1/13/27 | 18,995 | 17,267 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
6 | BNP Paribas SA | 3.500% | 11/16/27 | 69,325 | 64,276 | |
6 | BNP Paribas SA | 2.591% | 1/20/28 | 35,220 | 31,965 | |
6 | BNP Paribas SA | 5.335% | 6/12/29 | 36,955 | 36,565 | |
6 | BNP Paribas SA | 2.159% | 9/15/29 | 27,497 | 23,278 | |
6 | BNP Paribas SA | 2.871% | 4/19/32 | 26,985 | 21,900 | |
5,6 | BNP Paribas SA | 5.894% | 12/5/34 | 65,455 | 65,680 | |
BPCE SA | 4.000% | 4/15/24 | 30,615 | 30,411 | ||
6 | BPCE SA | 5.150% | 7/21/24 | 43,790 | 43,341 | |
6 | BPCE SA | 5.029% | 1/15/25 | 71,930 | 71,212 | |
6 | BPCE SA | 2.045% | 10/19/27 | 25,245 | 22,487 | |
6 | BPCE SA | 3.500% | 10/23/27 | 64,230 | 58,875 | |
6 | BPCE SA | 2.700% | 10/1/29 | 50,000 | 42,671 | |
6 | BPCE SA | 6.714% | 10/19/29 | 33,690 | 34,339 | |
6 | Brighthouse Financial Global Funding | 1.000% | 4/12/24 | 2,425 | 2,380 | |
6 | Brighthouse Financial Global Funding | 1.750% | 1/13/25 | 16,910 | 16,086 | |
6 | Brighthouse Financial Global Funding | 1.550% | 5/24/26 | 20,210 | 18,172 | |
6 | Brighthouse Financial Global Funding | 2.000% | 6/28/28 | 16,275 | 13,685 | |
6 | Canadian Imperial Bank of Commerce | 1.150% | 7/8/26 | 33,885 | 30,709 | |
Capital One Financial Corp. | 3.750% | 4/24/24 | 55,460 | 54,936 | ||
Capital One Financial Corp. | 3.200% | 2/5/25 | 24,185 | 23,372 | ||
Capital One Financial Corp. | 7.149% | 10/29/27 | 15,235 | 15,507 | ||
Capital One Financial Corp. | 6.312% | 6/8/29 | 12,425 | 12,357 | ||
3 | Capital One Financial Corp. | 7.624% | 10/30/31 | 9,709 | 10,156 | |
Capital One Financial Corp. | 6.377% | 6/8/34 | 27,523 | 26,805 | ||
Charles Schwab Corp. | 0.750% | 3/18/24 | 30,130 | 29,688 | ||
Charles Schwab Corp. | 3.200% | 3/2/27 | 19,665 | 18,393 | ||
Charles Schwab Corp. | 2.000% | 3/20/28 | 27,375 | 23,666 | ||
Charles Schwab Corp. | 2.900% | 3/3/32 | 50,765 | 41,522 | ||
Charles Schwab Corp. | 5.853% | 5/19/34 | 18,370 | 18,132 | ||
Charles Schwab Corp. | 6.136% | 8/24/34 | 21,620 | 21,676 | ||
Chubb Corp. | 6.000% | 5/11/37 | 50,000 | 52,585 | ||
Chubb INA Holdings Inc. | 3.350% | 5/15/24 | 22,345 | 22,104 | ||
Chubb INA Holdings Inc. | 4.350% | 11/3/45 | 29,835 | 25,914 | ||
Citigroup Inc. | 0.981% | 5/1/25 | 32,820 | 32,082 | ||
Citigroup Inc. | 1.462% | 6/9/27 | 62,962 | 56,672 | ||
3 | Citigroup Inc. | 3.070% | 2/24/28 | 65,000 | 60,273 | |
Citigroup Inc. | 4.125% | 7/25/28 | 14,550 | 13,617 | ||
3 | Citigroup Inc. | 3.520% | 10/27/28 | 72,550 | 67,466 | |
3 | Citigroup Inc. | 3.878% | 1/24/39 | 37,030 | 30,271 | |
Citigroup Inc. | 2.904% | 11/3/42 | 19,370 | 13,220 | ||
6 | CNO Global Funding | 1.650% | 1/6/25 | 8,725 | 8,279 | |
6 | CNO Global Funding | 2.650% | 1/6/29 | 12,585 | 10,590 | |
6 | Commonwealth Bank of Australia | 5.071% | 9/14/28 | 36,585 | 36,724 | |
6 | Commonwealth Bank of Australia | 2.688% | 3/11/31 | 74,015 | 58,384 | |
6 | Commonwealth Bank of Australia | 3.784% | 3/14/32 | 9,885 | 8,238 | |
6 | Cooperatieve Rabobank UA | 1.106% | 2/24/27 | 46,710 | 42,122 | |
6 | Cooperatieve Rabobank UA | 4.655% | 8/22/28 | 26,667 | 25,625 | |
Corebridge Financial Inc. | 3.900% | 4/5/32 | 25,012 | 21,934 | ||
6 | Corebridge Financial Inc. | 6.050% | 9/15/33 | 5,070 | 5,131 | |
Corebridge Financial Inc. | 4.350% | 4/5/42 | 2,760 | 2,216 | ||
Corebridge Financial Inc. | 4.400% | 4/5/52 | 27,235 | 21,229 | ||
6 | Corebridge Global Funding | 5.750% | 7/2/26 | 17,660 | 17,639 | |
6 | Corebridge Global Funding | 5.900% | 9/19/28 | 8,525 | 8,622 | |
6 | Credit Agricole SA | 3.250% | 10/4/24 | 71,600 | 70,094 | |
6 | Credit Agricole SA | 5.589% | 7/5/26 | 40,520 | 40,680 | |
6 | Credit Agricole SA | 6.316% | 10/3/29 | 20,380 | 20,775 | |
Credit Suisse AG | 7.500% | 2/15/28 | 38,712 | 41,384 | ||
6 | Danske Bank A/S | 5.375% | 1/12/24 | 28,240 | 28,208 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
6 | Danske Bank A/S | 1.621% | 9/11/26 | 28,990 | 26,722 | |
6 | Danske Bank A/S | 6.259% | 9/22/26 | 35,035 | 35,250 | |
6 | Danske Bank A/S | 1.549% | 9/10/27 | 55,460 | 49,299 | |
Deutsche Bank AG | 6.720% | 1/18/29 | 9,910 | 10,086 | ||
Deutsche Bank AG | 6.819% | 11/20/29 | 32,875 | 33,487 | ||
6 | DNB Bank ASA | 1.535% | 5/25/27 | 44,030 | 39,563 | |
6 | DNB Bank ASA | 1.605% | 3/30/28 | 45,870 | 40,106 | |
6 | Equitable Financial Life Global Funding | 1.400% | 7/7/25 | 10,395 | 9,687 | |
6 | Equitable Financial Life Global Funding | 1.300% | 7/12/26 | 26,755 | 23,810 | |
6 | Equitable Financial Life Global Funding | 1.700% | 11/12/26 | 12,440 | 11,036 | |
6 | Equitable Financial Life Global Funding | 1.400% | 8/27/27 | 18,220 | 15,556 | |
6 | Equitable Financial Life Global Funding | 1.800% | 3/8/28 | 28,220 | 24,111 | |
6 | Farmers Exchange Capital | 7.050% | 7/15/28 | 25,000 | 25,182 | |
6 | Federation des Caisses Desjardins du Quebec | 5.147% | 11/27/28 | 35,825 | 36,063 | |
Fifth Third Bancorp | 4.055% | 4/25/28 | 15,040 | 14,054 | ||
Fifth Third Bancorp | 4.337% | 4/25/33 | 37,730 | 33,105 | ||
6 | Five Corners Funding Trust II | 2.850% | 5/15/30 | 30,000 | 25,674 | |
6 | Five Corners Funding Trust III | 5.791% | 2/15/33 | 26,260 | 26,732 | |
6 | Five Corners Funding Trust IV | 5.997% | 2/15/53 | 47,972 | 48,818 | |
6 | GA Global Funding Trust | 1.000% | 4/8/24 | 21,750 | 21,295 | |
Goldman Sachs Group Inc. | 3.500% | 1/23/25 | 17,545 | 17,112 | ||
3 | Goldman Sachs Group Inc. | 3.272% | 9/29/25 | 46,260 | 45,236 | |
Goldman Sachs Group Inc. | 3.850% | 1/26/27 | 17,980 | 17,267 | ||
Goldman Sachs Group Inc. | 1.431% | 3/9/27 | 60,000 | 54,410 | ||
Goldman Sachs Group Inc. | 1.542% | 9/10/27 | 97,685 | 87,070 | ||
3 | Goldman Sachs Group Inc. | 3.691% | 6/5/28 | 20,055 | 18,830 | |
3 | Goldman Sachs Group Inc. | 3.814% | 4/23/29 | 23,795 | 22,117 | |
3 | Goldman Sachs Group Inc. | 4.223% | 5/1/29 | 67,740 | 63,979 | |
Goldman Sachs Group Inc. | 3.800% | 3/15/30 | 23,040 | 20,884 | ||
Goldman Sachs Group Inc. | 1.992% | 1/27/32 | 30,600 | 23,727 | ||
Goldman Sachs Group Inc. | 2.615% | 4/22/32 | 88,125 | 70,999 | ||
Goldman Sachs Group Inc. | 2.383% | 7/21/32 | 94,160 | 74,188 | ||
Goldman Sachs Group Inc. | 2.650% | 10/21/32 | 14,050 | 11,209 | ||
Goldman Sachs Group Inc. | 3.102% | 2/24/33 | 31,457 | 25,952 | ||
Goldman Sachs Group Inc. | 6.750% | 10/1/37 | 43,995 | 46,257 | ||
Goldman Sachs Group Inc. | 6.250% | 2/1/41 | 20,135 | 21,134 | ||
3 | Goldman Sachs Group Inc. | 4.800% | 7/8/44 | 25,675 | 22,838 | |
6 | Guardian Life Global Funding | 1.250% | 5/13/26 | 6,735 | 6,120 | |
HSBC Holdings plc | 0.976% | 5/24/25 | 10,150 | 9,889 | ||
HSBC Holdings plc | 1.589% | 5/24/27 | 25,850 | 23,288 | ||
HSBC Holdings plc | 5.887% | 8/14/27 | 49,615 | 49,705 | ||
HSBC Holdings plc | 2.251% | 11/22/27 | 74,610 | 67,512 | ||
3 | HSBC Holdings plc | 4.041% | 3/13/28 | 21,805 | 20,642 | |
HSBC Holdings plc | 7.390% | 11/3/28 | 36,196 | 38,221 | ||
3 | HSBC Holdings plc | 4.583% | 6/19/29 | 40,480 | 38,514 | |
HSBC Holdings plc | 2.206% | 8/17/29 | 53,960 | 45,826 | ||
3 | HSBC Holdings plc | 2.357% | 8/18/31 | 54,320 | 43,504 | |
HSBC Holdings plc | 2.804% | 5/24/32 | 50,910 | 40,848 | ||
HSBC Holdings plc | 2.871% | 11/22/32 | 52,995 | 42,228 | ||
HSBC Holdings plc | 5.402% | 8/11/33 | 22,060 | 21,209 | ||
HSBC Holdings plc | 6.500% | 5/2/36 | 22,500 | 22,657 | ||
HSBC Holdings plc | 6.100% | 1/14/42 | 38,220 | 40,605 | ||
Huntington National Bank | 4.552% | 5/17/28 | 11,240 | 10,634 | ||
ING Groep NV | 3.950% | 3/29/27 | 44,565 | 42,322 | ||
ING Groep NV | 1.726% | 4/1/27 | 16,075 | 14,608 | ||
Intercontinental Exchange Inc. | 4.350% | 6/15/29 | 8,575 | 8,269 | ||
Intercontinental Exchange Inc. | 1.850% | 9/15/32 | 26,030 | 19,882 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Intercontinental Exchange Inc. | 4.600% | 3/15/33 | 38,595 | 36,801 | ||
Intercontinental Exchange Inc. | 2.650% | 9/15/40 | 5,860 | 4,081 | ||
Intercontinental Exchange Inc. | 3.000% | 6/15/50 | 55,205 | 36,459 | ||
Intercontinental Exchange Inc. | 4.950% | 6/15/52 | 74,200 | 68,602 | ||
6 | JAB Holdings BV | 2.200% | 11/23/30 | 3,137 | 2,445 | |
6 | JAB Holdings BV | 3.750% | 5/28/51 | 19,275 | 12,250 | |
6 | JAB Holdings BV | 4.500% | 4/8/52 | 31,940 | 23,309 | |
6 | Jackson National Life Global Funding | 1.750% | 1/12/25 | 18,915 | 17,960 | |
6 | Jackson National Life Insurance Co. | 8.150% | 3/15/27 | 18,890 | 19,744 | |
JPMorgan Chase & Co. | 3.900% | 7/15/25 | 13,870 | 13,572 | ||
JPMorgan Chase & Co. | 2.069% | 6/1/29 | 42,085 | 36,482 | ||
3 | JPMorgan Chase & Co. | 4.452% | 12/5/29 | 64,735 | 61,946 | |
3 | JPMorgan Chase & Co. | 3.702% | 5/6/30 | 16,000 | 14,651 | |
JPMorgan Chase & Co. | 2.580% | 4/22/32 | 58,675 | 47,972 | ||
JPMorgan Chase & Co. | 4.586% | 4/26/33 | 30,000 | 27,873 | ||
JPMorgan Chase & Co. | 4.912% | 7/25/33 | 37,288 | 35,424 | ||
JPMorgan Chase & Co. | 5.350% | 6/1/34 | 100,000 | 97,721 | ||
3 | JPMorgan Chase & Co. | 3.109% | 4/22/41 | 19,440 | 14,227 | |
JPMorgan Chase & Co. | 5.600% | 7/15/41 | 96,000 | 97,139 | ||
JPMorgan Chase & Co. | 5.400% | 1/6/42 | 18,035 | 17,886 | ||
JPMorgan Chase & Co. | 3.157% | 4/22/42 | 50,000 | 36,558 | ||
JPMorgan Chase & Co. | 5.625% | 8/16/43 | 16,100 | 15,991 | ||
JPMorgan Chase & Co. | 4.950% | 6/1/45 | 15,000 | 13,600 | ||
3 | JPMorgan Chase & Co. | 3.964% | 11/15/48 | 170,535 | 135,105 | |
3 | JPMorgan Chase & Co. | 3.109% | 4/22/51 | 19,885 | 13,331 | |
6 | KBC Group NV | 5.796% | 1/19/29 | 7,540 | 7,475 | |
6 | KBC Group NV | 6.324% | 9/21/34 | 28,255 | 28,420 | |
6 | Liberty Mutual Group Inc. | 4.569% | 2/1/29 | 14,170 | 13,594 | |
6 | Liberty Mutual Group Inc. | 5.500% | 6/15/52 | 26,870 | 23,515 | |
6 | Liberty Mutual Insurance Co. | 7.875% | 10/15/26 | 31,210 | 32,620 | |
6 | LSEGA Financing plc | 1.375% | 4/6/26 | 56,790 | 51,702 | |
6 | LSEGA Financing plc | 2.000% | 4/6/28 | 24,615 | 21,362 | |
6 | LSEGA Financing plc | 2.500% | 4/6/31 | 50,408 | 41,670 | |
M&T Bank Corp. | 7.413% | 10/30/29 | 34,685 | 36,130 | ||
6 | Macquarie Group Ltd. | 1.935% | 4/14/28 | 42,835 | 37,535 | |
6 | Macquarie Group Ltd. | 2.871% | 1/14/33 | 56,227 | 44,111 | |
3 | Manufacturers & Traders Trust Co. | 2.900% | 2/6/25 | 24,685 | 23,767 | |
Manufacturers & Traders Trust Co. | 4.700% | 1/27/28 | 81,471 | 76,556 | ||
Marsh & McLennan Cos. Inc. | 4.375% | 3/15/29 | 23,405 | 22,785 | ||
Marsh & McLennan Cos. Inc. | 4.900% | 3/15/49 | 10,915 | 9,916 | ||
Marsh & McLennan Cos. Inc. | 2.900% | 12/15/51 | 20,255 | 12,655 | ||
Marsh & McLennan Cos. Inc. | 5.450% | 3/15/53 | 7,835 | 7,650 | ||
6 | Massachusetts Mutual Life Insurance Co. | 3.200% | 12/1/61 | 30,000 | 17,666 | |
MetLife Inc. | 4.125% | 8/13/42 | 15,565 | 12,789 | ||
MetLife Inc. | 4.875% | 11/13/43 | 17,000 | 15,422 | ||
MetLife Inc. | 5.000% | 7/15/52 | 15,634 | 14,274 | ||
6 | Metropolitan Life Global Funding I | 3.450% | 12/18/26 | 23,660 | 22,420 | |
6 | Metropolitan Life Global Funding I | 4.400% | 6/30/27 | 9,910 | 9,550 | |
6 | Metropolitan Life Global Funding I | 3.000% | 9/19/27 | 21,455 | 19,712 | |
6 | Metropolitan Life Global Funding I | 4.300% | 8/25/29 | 15,345 | 14,521 | |
6 | Metropolitan Life Global Funding I | 2.400% | 1/11/32 | 53,825 | 42,880 | |
6 | Metropolitan Life Global Funding I | 5.150% | 3/28/33 | 16,475 | 16,078 | |
Mitsubishi UFJ Financial Group Inc. | 5.017% | 7/20/28 | 31,915 | 31,403 | ||
3 | Morgan Stanley | 3.875% | 4/29/24 | 97,010 | 96,282 | |
3 | Morgan Stanley | 3.700% | 10/23/24 | 29,050 | 28,542 | |
Morgan Stanley | 0.790% | 5/30/25 | 42,545 | 41,347 | ||
3 | Morgan Stanley | 2.720% | 7/22/25 | 53,860 | 52,737 | |
3 | Morgan Stanley | 4.000% | 7/23/25 | 29,455 | 28,798 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3 | Morgan Stanley | 2.630% | 2/18/26 | 61,765 | 59,333 | |
3 | Morgan Stanley | 3.125% | 7/27/26 | 11,435 | 10,810 | |
3 | Morgan Stanley | 6.250% | 8/9/26 | 20,000 | 20,413 | |
Morgan Stanley | 3.625% | 1/20/27 | 60,000 | 57,306 | ||
3 | Morgan Stanley | 3.772% | 1/24/29 | 56,905 | 53,091 | |
3 | Morgan Stanley | 2.699% | 1/22/31 | 74,290 | 62,756 | |
3 | Morgan Stanley | 1.928% | 4/28/32 | 50,000 | 38,442 | |
3 | Morgan Stanley | 2.239% | 7/21/32 | 81,175 | 63,524 | |
3 | Morgan Stanley | 2.511% | 10/20/32 | 36,580 | 29,033 | |
Morgan Stanley | 2.943% | 1/21/33 | 31,555 | 25,747 | ||
Morgan Stanley | 6.627% | 11/1/34 | 21,815 | 23,120 | ||
Morgan Stanley | 2.484% | 9/16/36 | 43,080 | 32,521 | ||
Morgan Stanley | 5.948% | 1/19/38 | 25,160 | 24,411 | ||
Morgan Stanley | 4.300% | 1/27/45 | 18,360 | 15,441 | ||
Nasdaq Inc. | 5.550% | 2/15/34 | 17,880 | 17,879 | ||
Nasdaq Inc. | 3.950% | 3/7/52 | 18,120 | 13,461 | ||
Nasdaq Inc. | 5.950% | 8/15/53 | 6,285 | 6,339 | ||
Nasdaq Inc. | 6.100% | 6/28/63 | 4,555 | 4,630 | ||
National Australia Bank Ltd. | 3.905% | 6/9/27 | 33,500 | 32,205 | ||
6 | National Australia Bank Ltd. | 5.134% | 11/28/28 | 51,330 | 51,666 | |
6 | National Australia Bank Ltd. | 2.332% | 8/21/30 | 75,550 | 59,300 | |
6 | National Australia Bank Ltd. | 2.990% | 5/21/31 | 62,492 | 50,026 | |
6 | National Australia Bank Ltd. | 3.347% | 1/12/37 | 38,825 | 30,402 | |
6 | National Securities Clearing Corp. | 5.100% | 11/21/27 | 52,090 | 52,267 | |
6 | Nationwide Financial Services Inc. | 3.900% | 11/30/49 | 48,905 | 35,630 | |
6 | Nationwide Mutual Insurance Co. | 4.350% | 4/30/50 | 41,675 | 30,668 | |
NatWest Group plc | 1.642% | 6/14/27 | 29,040 | 26,075 | ||
6 | NatWest Markets plc | 0.800% | 8/12/24 | 22,050 | 21,297 | |
6 | NBK SPC Ltd. | 1.625% | 9/15/27 | 67,900 | 60,638 | |
6 | New York Life Insurance Co. | 5.875% | 5/15/33 | 55,395 | 56,829 | |
6 | New York Life Insurance Co. | 3.750% | 5/15/50 | 9,245 | 6,761 | |
6 | New York Life Insurance Co. | 4.450% | 5/15/69 | 15,270 | 11,915 | |
6 | Nordea Bank Abp | 1.500% | 9/30/26 | 65,800 | 58,936 | |
6 | Northwestern Mutual Life Insurance Co. | 3.850% | 9/30/47 | 30,684 | 22,945 | |
6 | Northwestern Mutual Life Insurance Co. | 3.625% | 9/30/59 | 9,324 | 6,311 | |
6 | Pacific Life Global Funding II | 1.375% | 4/14/26 | 27,085 | 24,725 | |
6 | Pacific LifeCorp | 5.400% | 9/15/52 | 18,030 | 16,734 | |
6 | Penske Truck Leasing Co. LP | 3.450% | 7/1/24 | 16,420 | 16,165 | |
6 | Penske Truck Leasing Co. LP | 2.700% | 11/1/24 | 10,220 | 9,914 | |
6 | Penske Truck Leasing Co. LP | 3.950% | 3/10/25 | 52,010 | 50,706 | |
6 | Penske Truck Leasing Co. LP | 4.450% | 1/29/26 | 16,450 | 15,924 | |
6 | Penske Truck Leasing Co. LP | 5.875% | 11/15/27 | 45,805 | 45,774 | |
6 | Penske Truck Leasing Co. LP | 5.700% | 2/1/28 | 41,755 | 41,468 | |
6 | Penske Truck Leasing Co. LP | 6.050% | 8/1/28 | 37,310 | 37,645 | |
6 | Penske Truck Leasing Co. LP | 6.200% | 6/15/30 | 7,282 | 7,387 | |
3 | PNC Bank NA | 3.300% | 10/30/24 | 18,195 | 17,804 | |
3 | PNC Bank NA | 3.100% | 10/25/27 | 41,975 | 38,443 | |
3 | PNC Bank NA | 3.250% | 1/22/28 | 60,465 | 55,575 | |
6 | Pricoa Global Funding I | 5.100% | 5/30/28 | 33,975 | 33,913 | |
6 | Principal Life Global Funding II | 2.500% | 9/16/29 | 25,000 | 21,267 | |
Progressive Corp. | 4.950% | 6/15/33 | 54,414 | 53,474 | ||
Progressive Corp. | 4.125% | 4/15/47 | 9,955 | 8,134 | ||
6 | Protective Life Global Funding | 4.714% | 7/6/27 | 18,335 | 17,898 | |
Prudential Financial Inc. | 3.905% | 12/7/47 | 7,767 | 5,922 | ||
6 | RGA Global Funding | 2.700% | 1/18/29 | 14,330 | 12,384 | |
3 | Royal Bank of Canada | 5.000% | 2/1/33 | 49,000 | 47,214 | |
6 | Standard Chartered plc | 1.214% | 3/23/25 | 6,465 | 6,357 | |
6 | Standard Chartered plc | 6.301% | 1/9/29 | 32,130 | 32,276 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
State Street Corp. | 4.821% | 1/26/34 | 14,655 | 13,773 | ||
6 | Sumitomo Mitsui Trust Bank Ltd. | 0.850% | 3/25/24 | 58,195 | 57,307 | |
6 | Svenska Handelsbanken AB | 1.418% | 6/11/27 | 62,395 | 55,784 | |
6 | Swedbank AB | 6.136% | 9/12/26 | 33,865 | 34,086 | |
6 | Teachers Insurance & Annuity Association of America | 4.900% | 9/15/44 | 32,380 | 28,758 | |
6 | Teachers Insurance & Annuity Association of America | 4.270% | 5/15/47 | 42,390 | 34,323 | |
Toronto-Dominion Bank | 4.456% | 6/8/32 | 13,271 | 12,333 | ||
3 | Truist Financial Corp. | 3.700% | 6/5/25 | 49,000 | 47,588 | |
3 | Truist Financial Corp. | 4.873% | 1/26/29 | 34,945 | 33,512 | |
UBS AG | 1.250% | 6/1/26 | 36,125 | 32,767 | ||
UBS AG | 5.650% | 9/11/28 | 52,280 | 52,850 | ||
UBS Group AG | 3.750% | 3/26/25 | 28,568 | 27,715 | ||
6 | UBS Group AG | 2.593% | 9/11/25 | 17,585 | 17,097 | |
6 | UBS Group AG | 1.305% | 2/2/27 | 14,940 | 13,486 | |
6 | UBS Group AG | 1.494% | 8/10/27 | 40,005 | 35,540 | |
6 | UBS Group AG | 3.869% | 1/12/29 | 10,980 | 10,117 | |
6 | UBS Group AG | 2.095% | 2/11/32 | 23,650 | 18,125 | |
6 | UBS Group AG | 3.091% | 5/14/32 | 59,185 | 48,240 | |
6 | UBS Group AG | 2.746% | 2/11/33 | 16,800 | 13,072 | |
6 | UBS Group AG | 6.537% | 8/12/33 | 18,290 | 18,666 | |
6 | UBS Group AG | 9.016% | 11/15/33 | 9,250 | 10,958 | |
6 | UBS Group AG | 6.301% | 9/22/34 | 30,805 | 31,071 | |
6 | UBS Group AG | 3.179% | 2/11/43 | 36,770 | 25,170 | |
6 | UniCredit SpA | 1.982% | 6/3/27 | 35,165 | 31,652 | |
6 | UniCredit SpA | 3.127% | 6/3/32 | 35,545 | 28,695 | |
3 | US Bancorp | 3.700% | 1/30/24 | 52,500 | 52,287 | |
3 | US Bancorp | 2.677% | 1/27/33 | 16,145 | 12,725 | |
US Bancorp | 2.491% | 11/3/36 | 20,116 | 14,889 | ||
3 | Wells Fargo & Co. | 3.550% | 9/29/25 | 32,170 | 31,106 | |
Wells Fargo & Co. | 3.000% | 4/22/26 | 39,405 | 37,272 | ||
3 | Wells Fargo & Co. | 3.196% | 6/17/27 | 60,555 | 57,080 | |
3 | Wells Fargo & Co. | 3.526% | 3/24/28 | 19,500 | 18,287 | |
Wells Fargo & Co. | 6.303% | 10/23/29 | 35,415 | 36,498 | ||
3 | Wells Fargo & Co. | 2.879% | 10/30/30 | 15,000 | 12,906 | |
3 | Wells Fargo & Co. | 2.572% | 2/11/31 | 76,020 | 63,533 | |
3 | Wells Fargo & Co. | 3.350% | 3/2/33 | 7,970 | 6,674 | |
3 | Wells Fargo & Co. | 4.897% | 7/25/33 | 117,741 | 110,290 | |
Wells Fargo & Co. | 5.389% | 4/24/34 | 10,525 | 10,128 | ||
Wells Fargo & Co. | 5.606% | 1/15/44 | 71,831 | 66,826 | ||
3 | Wells Fargo & Co. | 4.650% | 11/4/44 | 10,315 | 8,504 | |
3 | Wells Fargo & Co. | 4.900% | 11/17/45 | 19,160 | 16,258 | |
3 | Wells Fargo & Co. | 4.400% | 6/14/46 | 73,300 | 57,115 | |
3 | Wells Fargo & Co. | 4.750% | 12/7/46 | 23,150 | 18,969 | |
3 | Wells Fargo & Co. | 4.611% | 4/25/53 | 84,025 | 70,389 | |
10,433,064 | ||||||
Health Care (2.0%) | ||||||
AbbVie Inc. | 3.800% | 3/15/25 | 15,725 | 15,423 | ||
3 | AdventHealth Obligated Group | 2.795% | 11/15/51 | 30,030 | 18,663 | |
3 | Advocate Health & Hospitals Corp. | 2.211% | 6/15/30 | 7,210 | 5,984 | |
3 | Advocate Health & Hospitals Corp. | 3.008% | 6/15/50 | 8,980 | 5,948 | |
6 | Alcon Finance Corp. | 2.750% | 9/23/26 | 5,830 | 5,424 | |
6 | Alcon Finance Corp. | 2.600% | 5/27/30 | 5,665 | 4,744 | |
6 | Alcon Finance Corp. | 5.375% | 12/6/32 | 8,550 | 8,492 | |
6 | Alcon Finance Corp. | 3.800% | 9/23/49 | 6,025 | 4,478 | |
6 | Alcon Finance Corp. | 5.750% | 12/6/52 | 9,480 | 9,493 | |
Amgen Inc. | 4.400% | 5/1/45 | 4,734 | 3,929 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Amgen Inc. | 4.200% | 2/22/52 | 17,717 | 13,977 | ||
Amgen Inc. | 5.750% | 3/2/63 | 13,585 | 13,310 | ||
3 | Ascension Health | 2.532% | 11/15/29 | 22,515 | 19,611 | |
3 | Ascension Health | 4.847% | 11/15/53 | 23,970 | 21,728 | |
AstraZeneca plc | 4.000% | 1/17/29 | 44,555 | 43,016 | ||
AstraZeneca plc | 6.450% | 9/15/37 | 23,385 | 26,071 | ||
Banner Health | 2.907% | 1/1/42 | 29,965 | 20,524 | ||
6 | Bayer US Finance LLC | 3.375% | 10/8/24 | 33,220 | 32,458 | |
6 | Bayer US Finance LLC | 6.125% | 11/21/26 | 11,190 | 11,219 | |
6 | Bayer US Finance LLC | 6.250% | 1/21/29 | 12,480 | 12,528 | |
6 | Bayer US Finance II LLC | 4.250% | 12/15/25 | 46,665 | 44,979 | |
3 | Beth Israel Lahey Health Inc. | 3.080% | 7/1/51 | 8,555 | 5,041 | |
3 | Bon Secours Mercy Health Inc. | 4.302% | 7/1/28 | 20,339 | 19,487 | |
3 | Bon Secours Mercy Health Inc. | 3.464% | 6/1/30 | 17,085 | 15,254 | |
3 | Bon Secours Mercy Health Inc. | 2.095% | 6/1/31 | 11,305 | 8,992 | |
Bristol-Myers Squibb Co. | 3.550% | 3/15/42 | 63,155 | 49,096 | ||
Bristol-Myers Squibb Co. | 4.550% | 2/20/48 | 5,703 | 4,946 | ||
Bristol-Myers Squibb Co. | 4.250% | 10/26/49 | 4,235 | 3,505 | ||
3 | Cedars-Sinai Health System | 2.288% | 8/15/31 | 43,795 | 35,113 | |
3 | Children's Hospital Corp. | 2.585% | 2/1/50 | 5,460 | 3,313 | |
3 | Cigna Group | 3.250% | 4/15/25 | 31,655 | 30,710 | |
Cigna Group | 4.375% | 10/15/28 | 18,600 | 17,957 | ||
CommonSpirit Health | 2.760% | 10/1/24 | 29,395 | 28,582 | ||
CommonSpirit Health | 3.347% | 10/1/29 | 36,655 | 32,464 | ||
CommonSpirit Health | 2.782% | 10/1/30 | 21,827 | 18,192 | ||
3 | CommonSpirit Health | 4.350% | 11/1/42 | 28,315 | 23,054 | |
CommonSpirit Health | 3.910% | 10/1/50 | 4,370 | 3,139 | ||
3 | Cottage Health Obligated Group | 3.304% | 11/1/49 | 9,875 | 6,739 | |
6 | CSL Finance plc | 4.250% | 4/27/32 | 31,340 | 29,303 | |
6 | CSL Finance plc | 4.750% | 4/27/52 | 1,160 | 1,022 | |
CVS Health Corp. | 1.750% | 8/21/30 | 4,940 | 3,946 | ||
CVS Health Corp. | 4.875% | 7/20/35 | 6,900 | 6,438 | ||
Dignity Health | 3.812% | 11/1/24 | 20,780 | 20,344 | ||
Elevance Health Inc. | 3.650% | 12/1/27 | 26,975 | 25,651 | ||
Elevance Health Inc. | 4.101% | 3/1/28 | 8,486 | 8,186 | ||
Elevance Health Inc. | 2.550% | 3/15/31 | 35,565 | 29,658 | ||
Elevance Health Inc. | 5.500% | 10/15/32 | 17,525 | 17,695 | ||
Elevance Health Inc. | 4.650% | 8/15/44 | 2,876 | 2,497 | ||
Elevance Health Inc. | 6.100% | 10/15/52 | 4,640 | 4,911 | ||
Eli Lilly & Co. | 4.875% | 2/27/53 | 8,710 | 8,456 | ||
Eli Lilly & Co. | 4.950% | 2/27/63 | 7,570 | 7,285 | ||
Gilead Sciences Inc. | 3.500% | 2/1/25 | 22,335 | 21,858 | ||
Gilead Sciences Inc. | 2.600% | 10/1/40 | 45,247 | 31,229 | ||
Gilead Sciences Inc. | 4.500% | 2/1/45 | 13,465 | 11,688 | ||
Gilead Sciences Inc. | 4.150% | 3/1/47 | 14,930 | 12,246 | ||
Gilead Sciences Inc. | 2.800% | 10/1/50 | 24,915 | 15,890 | ||
Gilead Sciences Inc. | 5.550% | 10/15/53 | 10,730 | 10,832 | ||
GlaxoSmithKline Capital Inc. | 5.375% | 4/15/34 | 45,000 | 46,736 | ||
Humana Inc. | 5.750% | 12/1/28 | 2,245 | 2,290 | ||
Humana Inc. | 5.950% | 3/15/34 | 21,760 | 22,401 | ||
3 | Indiana University Health Inc. Obligated Group | 2.852% | 11/1/51 | 12,370 | 7,809 | |
Inova Health System Foundation | 4.068% | 5/15/52 | 20,740 | 16,726 | ||
Kaiser Foundation Hospitals | 3.150% | 5/1/27 | 14,823 | 14,004 | ||
3 | Kaiser Foundation Hospitals | 2.810% | 6/1/41 | 37,455 | 25,993 | |
Kaiser Foundation Hospitals | 4.875% | 4/1/42 | 14,250 | 13,028 | ||
3 | Kaiser Foundation Hospitals | 3.002% | 6/1/51 | 36,720 | 23,657 | |
3 | Mass General Brigham Inc. | 3.192% | 7/1/49 | 12,361 | 8,391 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3 | Mass General Brigham Inc. | 3.342% | 7/1/60 | 32,045 | 20,976 | |
3 | Memorial Sloan-Kettering Cancer Center | 2.955% | 1/1/50 | 18,985 | 12,274 | |
Memorial Sloan-Kettering Cancer Center | 4.125% | 7/1/52 | 12,320 | 9,874 | ||
3 | Memorial Sloan-Kettering Cancer Center | 4.200% | 7/1/55 | 5,910 | 4,750 | |
Merck & Co. Inc. | 3.400% | 3/7/29 | 44,290 | 41,504 | ||
Merck & Co. Inc. | 4.150% | 5/18/43 | 22,090 | 19,064 | ||
Merck & Co. Inc. | 4.000% | 3/7/49 | 52,385 | 43,226 | ||
Novartis Capital Corp. | 4.400% | 5/6/44 | 25,896 | 23,341 | ||
OhioHealth Corp. | 2.297% | 11/15/31 | 26,665 | 21,535 | ||
OhioHealth Corp. | 2.834% | 11/15/41 | 16,515 | 11,247 | ||
Pfizer Inc. | 3.450% | 3/15/29 | 70,335 | 66,303 | ||
Pfizer Inc. | 1.700% | 5/28/30 | 6,065 | 5,039 | ||
Pfizer Inc. | 4.100% | 9/15/38 | 53,995 | 47,532 | ||
Pfizer Investment Enterprises Pte. Ltd. | 4.750% | 5/19/33 | 33,645 | 32,716 | ||
Pfizer Investment Enterprises Pte. Ltd. | 5.110% | 5/19/43 | 13,207 | 12,691 | ||
Pfizer Investment Enterprises Pte. Ltd. | 5.300% | 5/19/53 | 32,270 | 31,481 | ||
3 | Piedmont Healthcare Inc. | 2.044% | 1/1/32 | 8,825 | 6,904 | |
3 | Piedmont Healthcare Inc. | 2.719% | 1/1/42 | 8,830 | 5,887 | |
Piedmont Healthcare Inc. | 2.864% | 1/1/52 | 11,725 | 7,119 | ||
3 | Providence St. Joseph Health Obligated Group | 2.532% | 10/1/29 | 17,470 | 14,828 | |
Providence St. Joseph Health Obligated Group | 5.403% | 10/1/33 | 14,986 | 14,668 | ||
3 | Providence St. Joseph Health Obligated Group | 3.930% | 10/1/48 | 11,805 | 8,726 | |
3 | Providence St. Joseph Health Obligated Group | 2.700% | 10/1/51 | 39,905 | 22,312 | |
6 | Roche Holdings Inc. | 2.607% | 12/13/51 | 8,330 | 5,172 | |
Royalty Pharma plc | 3.550% | 9/2/50 | 9,555 | 6,261 | ||
3 | SSM Health Care Corp. | 3.823% | 6/1/27 | 34,910 | 33,368 | |
3 | Sutter Health | 2.294% | 8/15/30 | 18,345 | 15,077 | |
Takeda Pharmaceutical Co. Ltd. | 2.050% | 3/31/30 | 26,687 | 22,094 | ||
Takeda Pharmaceutical Co. Ltd. | 3.025% | 7/9/40 | 18,255 | 13,168 | ||
Thermo Fisher Scientific Inc. | 1.750% | 10/15/28 | 8,965 | 7,797 | ||
Thermo Fisher Scientific Inc. | 2.000% | 10/15/31 | 19,335 | 15,660 | ||
Toledo Hospital | 5.750% | 11/15/38 | 18,440 | 17,727 | ||
UnitedHealth Group Inc. | 3.100% | 3/15/26 | 15,350 | 14,748 | ||
UnitedHealth Group Inc. | 3.850% | 6/15/28 | 34,565 | 33,182 | ||
UnitedHealth Group Inc. | 2.000% | 5/15/30 | 7,515 | 6,284 | ||
UnitedHealth Group Inc. | 2.300% | 5/15/31 | 14,960 | 12,478 | ||
UnitedHealth Group Inc. | 4.200% | 5/15/32 | 23,545 | 22,190 | ||
UnitedHealth Group Inc. | 4.625% | 7/15/35 | 9,595 | 9,221 | ||
UnitedHealth Group Inc. | 3.500% | 8/15/39 | 7,480 | 6,006 | ||
UnitedHealth Group Inc. | 2.750% | 5/15/40 | 8,505 | 6,084 | ||
UnitedHealth Group Inc. | 3.050% | 5/15/41 | 27,142 | 20,055 | ||
UnitedHealth Group Inc. | 4.250% | 3/15/43 | 67,400 | 58,025 | ||
UnitedHealth Group Inc. | 4.750% | 7/15/45 | 24,520 | 22,399 | ||
UnitedHealth Group Inc. | 4.200% | 1/15/47 | 8,620 | 7,143 | ||
UnitedHealth Group Inc. | 3.750% | 10/15/47 | 4,985 | 3,863 | ||
UnitedHealth Group Inc. | 4.250% | 6/15/48 | 22,215 | 18,514 | ||
UnitedHealth Group Inc. | 4.450% | 12/15/48 | 4,970 | 4,289 | ||
UnitedHealth Group Inc. | 3.700% | 8/15/49 | 23,160 | 17,536 | ||
UnitedHealth Group Inc. | 2.900% | 5/15/50 | 31,449 | 20,470 | ||
UnitedHealth Group Inc. | 3.250% | 5/15/51 | 40,050 | 28,057 | ||
UnitedHealth Group Inc. | 4.750% | 5/15/52 | 7,175 | 6,457 | ||
UnitedHealth Group Inc. | 5.875% | 2/15/53 | 55,051 | 58,531 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
UnitedHealth Group Inc. | 3.875% | 8/15/59 | 19,125 | 14,335 | ||
Wyeth LLC | 5.950% | 4/1/37 | 25,000 | 26,373 | ||
2,134,314 | ||||||
Industrials (0.9%) | ||||||
6 | Ashtead Capital Inc. | 2.450% | 8/12/31 | 17,915 | 13,976 | |
6 | Ashtead Capital Inc. | 5.550% | 5/30/33 | 4,400 | 4,183 | |
6 | Ashtead Capital Inc. | 5.950% | 10/15/33 | 8,445 | 8,195 | |
6 | BAE Systems Holdings Inc. | 3.850% | 12/15/25 | 11,010 | 10,657 | |
6 | BAE Systems plc | 3.400% | 4/15/30 | 7,335 | 6,557 | |
Boeing Co. | 1.433% | 2/4/24 | 15,490 | 15,369 | ||
Boeing Co. | 2.700% | 2/1/27 | 17,155 | 15,850 | ||
Boeing Co. | 3.625% | 2/1/31 | 16,384 | 14,734 | ||
Boeing Co. | 8.625% | 11/15/31 | 9,460 | 11,259 | ||
Burlington Northern Santa Fe LLC | 4.550% | 9/1/44 | 6,000 | 5,259 | ||
Burlington Northern Santa Fe LLC | 4.150% | 4/1/45 | 13,365 | 11,037 | ||
Burlington Northern Santa Fe LLC | 4.050% | 6/15/48 | 2,715 | 2,182 | ||
Burlington Northern Santa Fe LLC | 3.050% | 2/15/51 | 9,950 | 6,592 | ||
Burlington Northern Santa Fe LLC | 3.300% | 9/15/51 | 20,000 | 13,979 | ||
Burlington Northern Santa Fe LLC | 2.875% | 6/15/52 | 17,935 | 11,574 | ||
Burlington Northern Santa Fe LLC | 4.450% | 1/15/53 | 2,609 | 2,254 | ||
Canadian National Railway Co. | 2.450% | 5/1/50 | 6,870 | 4,123 | ||
Canadian Pacific Railway Co. | 4.950% | 8/15/45 | 16,985 | 15,067 | ||
6 | Carrier Global Corp. | 5.900% | 3/15/34 | 3,865 | 3,978 | |
6 | Carrier Global Corp. | 6.200% | 3/15/54 | 13,229 | 13,980 | |
CSX Corp. | 3.350% | 9/15/49 | 5,535 | 3,846 | ||
6 | Daimler Truck Finance North America LLC | 5.150% | 1/16/26 | 14,600 | 14,506 | |
6 | Daimler Truck Finance North America LLC | 3.650% | 4/7/27 | 17,489 | 16,575 | |
6 | Daimler Truck Finance North America LLC | 5.125% | 1/19/28 | 4,630 | 4,568 | |
Deere & Co. | 7.125% | 3/3/31 | 17,500 | 19,830 | ||
Eaton Corp. | 4.150% | 3/15/33 | 17,444 | 16,280 | ||
Eaton Corp. | 4.700% | 8/23/52 | 5,205 | 4,731 | ||
6 | ERAC USA Finance LLC | 4.900% | 5/1/33 | 45,854 | 43,890 | |
6 | ERAC USA Finance LLC | 5.625% | 3/15/42 | 21,787 | 21,237 | |
6 | ERAC USA Finance LLC | 5.400% | 5/1/53 | 27,091 | 26,036 | |
Honeywell International Inc. | 4.250% | 1/15/29 | 32,230 | 31,409 | ||
Honeywell International Inc. | 5.000% | 2/15/33 | 77,308 | 77,603 | ||
Honeywell International Inc. | 4.500% | 1/15/34 | 54,395 | 52,207 | ||
3 | John Deere Capital Corp. | 5.150% | 9/8/33 | 42,582 | 42,963 | |
Lockheed Martin Corp. | 1.850% | 6/15/30 | 1,700 | 1,406 | ||
Lockheed Martin Corp. | 5.250% | 1/15/33 | 42,925 | 43,812 | ||
Lockheed Martin Corp. | 4.500% | 5/15/36 | 8,015 | 7,532 | ||
Lockheed Martin Corp. | 4.700% | 5/15/46 | 14,370 | 13,167 | ||
Lockheed Martin Corp. | 5.700% | 11/15/54 | 23,614 | 24,772 | ||
Republic Services Inc. | 4.875% | 4/1/29 | 3,595 | 3,584 | ||
RTX Corp. | 4.125% | 11/16/28 | 16,675 | 15,873 | ||
RTX Corp. | 4.450% | 11/16/38 | 9,325 | 8,115 | ||
6 | Siemens Financieringsmaatschappij NV | 1.700% | 3/11/28 | 20,360 | 17,846 | |
6 | Siemens Financieringsmaatschappij NV | 2.150% | 3/11/31 | 35,655 | 29,385 | |
6 | Siemens Financieringsmaatschappij NV | 4.400% | 5/27/45 | 34,365 | 29,990 | |
Teledyne Technologies Inc. | 2.250% | 4/1/28 | 30,011 | 26,378 | ||
Teledyne Technologies Inc. | 2.750% | 4/1/31 | 30,128 | 25,129 | ||
Trane Technologies Financing Ltd. | 5.250% | 3/3/33 | 16,705 | 16,594 | ||
Union Pacific Corp. | 3.700% | 3/1/29 | 17,470 | 16,602 | ||
Union Pacific Corp. | 2.800% | 2/14/32 | 357 | 302 | ||
Union Pacific Corp. | 3.375% | 2/14/42 | 17,635 | 13,461 | ||
Union Pacific Corp. | 3.250% | 2/5/50 | 1,409 | 994 | ||
Union Pacific Corp. | 3.799% | 10/1/51 | 24,211 | 18,763 | ||
Union Pacific Corp. | 3.500% | 2/14/53 | 65,235 | 47,607 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Union Pacific Corp. | 3.750% | 2/5/70 | 13,510 | 9,463 | ||
3 | United Airlines Pass-Through Trust Class B Series 2018-1 | 4.600% | 3/1/26 | 4,181 | 3,880 | |
941,141 | ||||||
Materials (0.0%) | ||||||
6 | Glencore Funding LLC | 6.375% | 10/6/30 | 23,128 | 23,848 | |
6 | Glencore Funding LLC | 2.625% | 9/23/31 | 8,007 | 6,446 | |
6 | Glencore Funding LLC | 5.700% | 5/8/33 | 1,565 | 1,560 | |
6 | Glencore Funding LLC | 6.500% | 10/6/33 | 5,000 | 5,231 | |
37,085 | ||||||
Real Estate (0.5%) | ||||||
American Tower Corp. | 5.000% | 2/15/24 | 2,770 | 2,764 | ||
American Tower Corp. | 4.400% | 2/15/26 | 7,315 | 7,143 | ||
American Tower Corp. | 3.800% | 8/15/29 | 33,804 | 31,029 | ||
American Tower Corp. | 5.900% | 11/15/33 | 8,253 | 8,394 | ||
Boston Properties LP | 3.800% | 2/1/24 | 1,750 | 1,741 | ||
Crown Castle Inc. | 4.000% | 11/15/49 | 7,282 | 5,317 | ||
CubeSmart LP | 2.250% | 12/15/28 | 12,135 | 10,385 | ||
CubeSmart LP | 2.500% | 2/15/32 | 7,767 | 6,109 | ||
Extra Space Storage LP | 5.500% | 7/1/30 | 12,185 | 12,007 | ||
5 | Extra Space Storage LP | 5.900% | 1/15/31 | 29,934 | 30,018 | |
Healthpeak OP LLC | 2.125% | 12/1/28 | 30,395 | 25,963 | ||
Healthpeak OP LLC | 3.000% | 1/15/30 | 31,475 | 27,015 | ||
Prologis LP | 5.250% | 6/15/53 | 20,000 | 18,875 | ||
Public Storage Operating Co. | 5.125% | 1/15/29 | 6,100 | 6,146 | ||
Public Storage Operating Co. | 5.100% | 8/1/33 | 6,160 | 6,054 | ||
Public Storage Operating Co. | 5.350% | 8/1/53 | 3,400 | 3,272 | ||
Realty Income Corp. | 2.200% | 6/15/28 | 24,400 | 21,299 | ||
Realty Income Corp. | 4.700% | 12/15/28 | 27,200 | 26,505 | ||
Realty Income Corp. | 3.250% | 1/15/31 | 12,940 | 11,230 | ||
Realty Income Corp. | 2.850% | 12/15/32 | 25,860 | 20,986 | ||
Realty Income Corp. | 4.900% | 7/15/33 | 26,434 | 25,133 | ||
6 | SBA Tower Trust | 2.836% | 1/15/25 | 25,075 | 24,156 | |
6 | SBA Tower Trust | 1.884% | 1/15/26 | 8,960 | 8,217 | |
6 | SBA Tower Trust | 1.631% | 11/15/26 | 34,975 | 30,747 | |
6 | SBA Tower Trust | 1.840% | 4/15/27 | 54,190 | 47,119 | |
6 | SBA Tower Trust | 2.593% | 10/15/31 | 51,750 | 40,213 | |
6 | Scentre Group Trust 1 | 4.375% | 5/28/30 | 19,110 | 17,660 | |
Simon Property Group LP | 3.375% | 10/1/24 | 10,055 | 9,844 | ||
Simon Property Group LP | 2.450% | 9/13/29 | 19,865 | 16,997 | ||
502,338 | ||||||
Technology (1.6%) | ||||||
Apple Inc. | 3.250% | 2/23/26 | 37,631 | 36,428 | ||
Apple Inc. | 2.450% | 8/4/26 | 43,466 | 40,987 | ||
Apple Inc. | 3.350% | 2/9/27 | 55,925 | 53,765 | ||
Apple Inc. | 3.200% | 5/11/27 | 39,185 | 37,406 | ||
Apple Inc. | 2.900% | 9/12/27 | 55,355 | 52,105 | ||
Apple Inc. | 3.850% | 5/4/43 | 17,000 | 14,508 | ||
Apple Inc. | 4.450% | 5/6/44 | 5,075 | 4,717 | ||
Apple Inc. | 3.850% | 8/4/46 | 36,890 | 30,893 | ||
Apple Inc. | 2.650% | 5/11/50 | 24,045 | 15,616 | ||
Apple Inc. | 2.650% | 2/8/51 | 17,436 | 11,254 | ||
Apple Inc. | 4.850% | 5/10/53 | 40,314 | 39,048 | ||
Apple Inc. | 2.550% | 8/20/60 | 9,707 | 6,048 | ||
Broadcom Corp. | 3.875% | 1/15/27 | 11,385 | 10,944 | ||
Broadcom Inc. | 4.110% | 9/15/28 | 37,859 | 36,203 | ||
Broadcom Inc. | 4.150% | 11/15/30 | 24,480 | 22,660 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
6 | Broadcom Inc. | 2.600% | 2/15/33 | 24,680 | 19,442 | |
6 | Broadcom Inc. | 3.187% | 11/15/36 | 9,709 | 7,416 | |
Cisco Systems Inc. | 2.500% | 9/20/26 | 15,676 | 14,781 | ||
Intel Corp. | 2.875% | 5/11/24 | 29,395 | 29,033 | ||
Intel Corp. | 2.000% | 8/12/31 | 3,635 | 2,976 | ||
Intel Corp. | 5.625% | 2/10/43 | 38,241 | 38,896 | ||
Intel Corp. | 4.100% | 5/19/46 | 45,545 | 37,312 | ||
Intel Corp. | 4.100% | 5/11/47 | 21,904 | 17,785 | ||
Intel Corp. | 3.734% | 12/8/47 | 8,096 | 6,217 | ||
Intel Corp. | 3.250% | 11/15/49 | 19,400 | 13,415 | ||
Intel Corp. | 3.050% | 8/12/51 | 19,202 | 12,684 | ||
Intel Corp. | 4.900% | 8/5/52 | 75,206 | 68,757 | ||
Intel Corp. | 5.700% | 2/10/53 | 27,140 | 27,606 | ||
International Business Machines Corp. | 3.300% | 5/15/26 | 155,985 | 149,708 | ||
International Business Machines Corp. | 3.500% | 5/15/29 | 103,700 | 96,613 | ||
International Business Machines Corp. | 5.875% | 11/29/32 | 20,240 | 21,469 | ||
Intuit Inc. | 5.200% | 9/15/33 | 48,900 | 49,279 | ||
Intuit Inc. | 5.500% | 9/15/53 | 31,084 | 31,924 | ||
Microsoft Corp. | 3.125% | 11/3/25 | 17,700 | 17,158 | ||
Microsoft Corp. | 3.500% | 2/12/35 | 23,520 | 21,490 | ||
Microsoft Corp. | 3.450% | 8/8/36 | 31,097 | 27,383 | ||
Microsoft Corp. | 2.525% | 6/1/50 | 122,844 | 78,983 | ||
Microsoft Corp. | 2.921% | 3/17/52 | 123,829 | 85,572 | ||
Oracle Corp. | 2.950% | 11/15/24 | 79,830 | 77,751 | ||
Oracle Corp. | 1.650% | 3/25/26 | 17,300 | 15,938 | ||
Oracle Corp. | 3.250% | 11/15/27 | 48,711 | 45,426 | ||
Oracle Corp. | 4.500% | 7/8/44 | 29,127 | 24,312 | ||
Oracle Corp. | 4.125% | 5/15/45 | 25,243 | 19,696 | ||
QUALCOMM Inc. | 1.300% | 5/20/28 | 27,474 | 23,772 | ||
QUALCOMM Inc. | 2.150% | 5/20/30 | 29,475 | 25,138 | ||
QUALCOMM Inc. | 1.650% | 5/20/32 | 41,155 | 32,177 | ||
QUALCOMM Inc. | 4.250% | 5/20/32 | 6,420 | 6,160 | ||
QUALCOMM Inc. | 4.500% | 5/20/52 | 16,672 | 14,444 | ||
S&P Global Inc. | 2.700% | 3/1/29 | 7,631 | 6,885 | ||
S&P Global Inc. | 3.700% | 3/1/52 | 41,670 | 31,879 | ||
6 | UL Solutions Inc. | 6.500% | 10/20/28 | 12,800 | 13,139 | |
1,625,198 | ||||||
Utilities (3.1%) | ||||||
3 | AEP Texas Inc. | 4.150% | 5/1/49 | 5,065 | 3,803 | |
3 | AEP Texas Inc. | 3.450% | 1/15/50 | 16,810 | 11,257 | |
3 | AEP Transmission Co. LLC | 4.500% | 6/15/52 | 9,195 | 7,681 | |
Alabama Power Co. | 5.700% | 2/15/33 | 15,000 | 14,974 | ||
Alabama Power Co. | 6.000% | 3/1/39 | 21,773 | 22,024 | ||
Alabama Power Co. | 3.750% | 3/1/45 | 24,430 | 18,488 | ||
3 | Alabama Power Co. | 4.300% | 7/15/48 | 28,015 | 22,410 | |
Ameren Illinois Co. | 3.800% | 5/15/28 | 22,215 | 21,190 | ||
Ameren Illinois Co. | 6.125% | 12/15/28 | 54,000 | 54,220 | ||
Ameren Illinois Co. | 3.700% | 12/1/47 | 5,045 | 3,828 | ||
American Water Capital Corp. | 2.950% | 9/1/27 | 9,975 | 9,261 | ||
American Water Capital Corp. | 4.450% | 6/1/32 | 22,115 | 21,052 | ||
American Water Capital Corp. | 3.750% | 9/1/47 | 1,435 | 1,088 | ||
American Water Capital Corp. | 4.200% | 9/1/48 | 30,403 | 24,675 | ||
American Water Capital Corp. | 4.150% | 6/1/49 | 850 | 680 | ||
American Water Capital Corp. | 3.450% | 5/1/50 | 2,280 | 1,617 | ||
Arizona Public Service Co. | 6.350% | 12/15/32 | 6,080 | 6,364 | ||
Arizona Public Service Co. | 5.550% | 8/1/33 | 8,253 | 8,182 | ||
Arizona Public Service Co. | 3.350% | 5/15/50 | 11,220 | 7,399 | ||
Baltimore Gas & Electric Co. | 4.250% | 9/15/48 | 5,000 | 4,006 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Baltimore Gas & Electric Co. | 2.900% | 6/15/50 | 6,549 | 4,125 | ||
Berkshire Hathaway Energy Co. | 6.125% | 4/1/36 | 41,185 | 42,421 | ||
Berkshire Hathaway Energy Co. | 5.950% | 5/15/37 | 830 | 841 | ||
Berkshire Hathaway Energy Co. | 5.150% | 11/15/43 | 10,715 | 9,826 | ||
Berkshire Hathaway Energy Co. | 4.250% | 10/15/50 | 15,865 | 12,286 | ||
Berkshire Hathaway Energy Co. | 4.600% | 5/1/53 | 59,082 | 48,228 | ||
6 | Boston Gas Co. | 3.150% | 8/1/27 | 5,385 | 4,939 | |
6 | Boston Gas Co. | 3.001% | 8/1/29 | 5,970 | 5,228 | |
6 | Boston Gas Co. | 3.757% | 3/16/32 | 4,225 | 3,630 | |
6 | Brooklyn Union Gas Co. | 3.407% | 3/10/26 | 2,685 | 2,543 | |
6 | Brooklyn Union Gas Co. | 4.273% | 3/15/48 | 61,265 | 44,177 | |
CenterPoint Energy Resources Corp. | 5.250% | 3/1/28 | 35,850 | 36,052 | ||
CenterPoint Energy Resources Corp. | 4.000% | 4/1/28 | 8,068 | 7,727 | ||
CenterPoint Energy Resources Corp. | 5.400% | 3/1/33 | 28,139 | 27,919 | ||
Cleco Corporate Holdings LLC | 3.375% | 9/15/29 | 9,180 | 7,830 | ||
3 | Cleco Securitization I LLC | 4.646% | 9/1/42 | 27,070 | 25,209 | |
Commonwealth Edison Co. | 4.350% | 11/15/45 | 13,610 | 11,201 | ||
Commonwealth Edison Co. | 3.650% | 6/15/46 | 6,365 | 4,692 | ||
3 | Commonwealth Edison Co. | 3.750% | 8/15/47 | 10,000 | 7,497 | |
Commonwealth Edison Co. | 4.000% | 3/1/48 | 13,787 | 10,834 | ||
3 | Commonwealth Edison Co. | 3.850% | 3/15/52 | 6,380 | 4,789 | |
Consolidated Edison Co. of New York Inc. | 4.500% | 12/1/45 | 36,735 | 30,533 | ||
Consolidated Edison Co. of New York Inc. | 3.850% | 6/15/46 | 2,729 | 2,051 | ||
3 | Consolidated Edison Co. of New York Inc. | 4.125% | 5/15/49 | 4,105 | 3,179 | |
3 | Consolidated Edison Co. of New York Inc. | 3.950% | 4/1/50 | 1,690 | 1,308 | |
Consolidated Edison Co. of New York Inc. | 3.200% | 12/1/51 | 27,865 | 18,255 | ||
Consolidated Edison Co. of New York Inc. | 6.150% | 11/15/52 | 17,419 | 18,301 | ||
Consolidated Edison Co. of New York Inc. | 4.625% | 12/1/54 | 72,625 | 60,677 | ||
Consolidated Edison Co. of New York Inc. | 4.500% | 5/15/58 | 32,349 | 25,779 | ||
Consumers Energy Co. | 4.200% | 9/1/52 | 19,310 | 15,641 | ||
3 | Dominion Energy Inc. | 3.375% | 4/1/30 | 1,908 | 1,698 | |
Dominion Energy Inc. | 5.375% | 11/15/32 | 21,037 | 20,783 | ||
3 | Dominion Energy Inc. | 5.250% | 8/1/33 | 5,706 | 5,547 | |
3 | Dominion Energy Inc. | 4.600% | 3/15/49 | 27,385 | 22,325 | |
3 | Dominion Energy Inc. | 4.850% | 8/15/52 | 39,828 | 33,474 | |
Dominion Energy South Carolina Inc. | 6.625% | 2/1/32 | 4,886 | 5,339 | ||
Dominion Energy South Carolina Inc. | 5.800% | 1/15/33 | 9,000 | 9,104 | ||
Dominion Energy South Carolina Inc. | 5.300% | 5/15/33 | 1,438 | 1,424 | ||
Dominion Energy South Carolina Inc. | 6.050% | 1/15/38 | 44,155 | 45,685 | ||
Dominion Energy South Carolina Inc. | 5.450% | 2/1/41 | 2,945 | 2,812 | ||
Dominion Energy South Carolina Inc. | 4.600% | 6/15/43 | 7,251 | 6,221 | ||
Dominion Energy South Carolina Inc. | 5.100% | 6/1/65 | 29,850 | 26,566 | ||
Duke Energy Carolinas LLC | 4.950% | 1/15/33 | 4,810 | 4,716 | ||
Duke Energy Carolinas LLC | 6.100% | 6/1/37 | 3,404 | 3,513 | ||
Duke Energy Carolinas LLC | 6.050% | 4/15/38 | 4,000 | 4,136 | ||
Duke Energy Carolinas LLC | 3.700% | 12/1/47 | 17,085 | 12,506 | ||
Duke Energy Carolinas LLC | 5.350% | 1/15/53 | 52,380 | 49,618 | ||
Duke Energy Corp. | 2.650% | 9/1/26 | 11,775 | 10,963 | ||
Duke Energy Corp. | 3.400% | 6/15/29 | 12,030 | 10,962 | ||
Duke Energy Corp. | 3.300% | 6/15/41 | 31,380 | 22,542 | ||
Duke Energy Corp. | 4.800% | 12/15/45 | 44,700 | 38,182 | ||
Duke Energy Corp. | 3.750% | 9/1/46 | 9,940 | 7,205 | ||
Duke Energy Corp. | 4.200% | 6/15/49 | 25,820 | 19,682 | ||
Duke Energy Corp. | 3.500% | 6/15/51 | 34,035 | 23,187 | ||
Duke Energy Corp. | 5.000% | 8/15/52 | 24,460 | 21,342 | ||
Duke Energy Florida LLC | 6.350% | 9/15/37 | 8,000 | 8,404 | ||
Duke Energy Florida LLC | 6.400% | 6/15/38 | 27,055 | 28,773 | ||
Duke Energy Florida LLC | 5.950% | 11/15/52 | 11,250 | 11,560 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Duke Energy Progress LLC | 3.400% | 4/1/32 | 15,845 | 13,834 | ||
Duke Energy Progress LLC | 6.300% | 4/1/38 | 14,705 | 15,406 | ||
Duke Energy Progress LLC | 4.100% | 3/15/43 | 615 | 490 | ||
Duke Energy Progress LLC | 4.200% | 8/15/45 | 40,400 | 32,179 | ||
Duke Energy Progress LLC | 2.500% | 8/15/50 | 2,475 | 1,420 | ||
Duke Energy Progress LLC | 2.900% | 8/15/51 | 2,450 | 1,517 | ||
Duke Energy Progress LLC | 4.000% | 4/1/52 | 4,185 | 3,180 | ||
3 | Duke Energy Progress NC Storm Funding LLC | 2.387% | 7/1/37 | 34,870 | 27,057 | |
6 | East Ohio Gas Co. | 2.000% | 6/15/30 | 8,960 | 7,135 | |
6 | East Ohio Gas Co. | 3.000% | 6/15/50 | 13,050 | 7,798 | |
Edison International | 5.250% | 11/15/28 | 22,192 | 21,870 | ||
Emera US Finance LP | 3.550% | 6/15/26 | 25,624 | 24,515 | ||
Entergy Louisiana LLC | 3.120% | 9/1/27 | 14,935 | 13,885 | ||
Evergy Inc. | 2.450% | 9/15/24 | 10,420 | 10,136 | ||
Evergy Kansas Central Inc. | 3.250% | 9/1/49 | 9,000 | 5,905 | ||
3 | Evergy Metro Inc. | 2.250% | 6/1/30 | 5,680 | 4,690 | |
Evergy Metro Inc. | 4.200% | 3/15/48 | 3,419 | 2,669 | ||
3 | Eversource Energy | 2.900% | 10/1/24 | 17,450 | 17,016 | |
3 | Eversource Energy | 3.150% | 1/15/25 | 5,025 | 4,889 | |
3 | Eversource Energy | 3.300% | 1/15/28 | 14,410 | 13,339 | |
Eversource Energy | 5.450% | 3/1/28 | 24,675 | 24,731 | ||
Eversource Energy | 3.375% | 3/1/32 | 5,495 | 4,693 | ||
Eversource Energy | 5.125% | 5/15/33 | 11,655 | 11,254 | ||
Exelon Corp. | 3.350% | 3/15/32 | 18,315 | 15,726 | ||
Florida Power & Light Co. | 5.050% | 4/1/28 | 11,065 | 11,098 | ||
Florida Power & Light Co. | 5.100% | 4/1/33 | 11,985 | 11,915 | ||
Florida Power & Light Co. | 5.650% | 2/1/35 | 50,000 | 49,864 | ||
Florida Power & Light Co. | 4.950% | 6/1/35 | 10,000 | 9,622 | ||
Florida Power & Light Co. | 5.650% | 2/1/37 | 5,000 | 5,057 | ||
Florida Power & Light Co. | 5.950% | 2/1/38 | 39,215 | 40,590 | ||
Florida Power & Light Co. | 5.690% | 3/1/40 | 4,000 | 4,070 | ||
Florida Power & Light Co. | 3.700% | 12/1/47 | 13,702 | 10,354 | ||
Florida Power & Light Co. | 5.300% | 4/1/53 | 17,250 | 16,797 | ||
Fortis Inc. | 3.055% | 10/4/26 | 28,565 | 26,712 | ||
Georgia Power Co. | 4.700% | 5/15/32 | 21,575 | 20,637 | ||
Georgia Power Co. | 4.950% | 5/17/33 | 20,085 | 19,451 | ||
Georgia Power Co. | 5.400% | 6/1/40 | 6,665 | 6,148 | ||
3 | Georgia Power Co. | 4.750% | 9/1/40 | 34,703 | 30,470 | |
Georgia Power Co. | 4.300% | 3/15/42 | 9,934 | 8,268 | ||
Georgia Power Co. | 5.125% | 5/15/52 | 24,430 | 22,440 | ||
Indiana Michigan Power Co. | 4.250% | 8/15/48 | 14,980 | 11,712 | ||
6 | ITC Holdings Corp. | 4.950% | 9/22/27 | 2,425 | 2,395 | |
6 | KeySpan Gas East Corp. | 2.742% | 8/15/26 | 25,345 | 23,386 | |
6 | Massachusetts Electric Co. | 5.900% | 11/15/39 | 21,565 | 20,823 | |
6 | Metropolitan Edison Co. | 5.200% | 4/1/28 | 1,910 | 1,890 | |
6 | Metropolitan Edison Co. | 4.300% | 1/15/29 | 6,572 | 6,228 | |
MidAmerican Energy Co. | 4.400% | 10/15/44 | 1,050 | 878 | ||
MidAmerican Energy Co. | 4.250% | 5/1/46 | 5,485 | 4,480 | ||
MidAmerican Energy Co. | 4.250% | 7/15/49 | 6,595 | 5,356 | ||
MidAmerican Energy Co. | 3.150% | 4/15/50 | 38,026 | 25,210 | ||
6 | Mid-Atlantic Interstate Transmission LLC | 4.100% | 5/15/28 | 3,170 | 3,000 | |
6 | Monongahela Power Co. | 5.400% | 12/15/43 | 4,570 | 4,174 | |
3 | Nevada Power Co. | 3.125% | 8/1/50 | 15,345 | 9,736 | |
NextEra Energy Capital Holdings Inc. | 6.051% | 3/1/25 | 12,700 | 12,749 | ||
NextEra Energy Capital Holdings Inc. | 5.749% | 9/1/25 | 13,955 | 13,964 | ||
NextEra Energy Capital Holdings Inc. | 3.550% | 5/1/27 | 32,275 | 30,582 | ||
NextEra Energy Capital Holdings Inc. | 1.900% | 6/15/28 | 27,465 | 23,747 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
NextEra Energy Capital Holdings Inc. | 3.500% | 4/1/29 | 14,165 | 12,988 | ||
NextEra Energy Capital Holdings Inc. | 2.250% | 6/1/30 | 48,660 | 40,160 | ||
NextEra Energy Capital Holdings Inc. | 5.000% | 7/15/32 | 6,130 | 5,923 | ||
6 | Niagara Mohawk Power Corp. | 4.278% | 12/15/28 | 35,970 | 34,188 | |
6 | Niagara Mohawk Power Corp. | 3.025% | 6/27/50 | 14,840 | 9,027 | |
NiSource Inc. | 5.250% | 3/30/28 | 19,368 | 19,361 | ||
NiSource Inc. | 5.250% | 2/15/43 | 14,588 | 13,205 | ||
NiSource Inc. | 4.800% | 2/15/44 | 12,750 | 10,950 | ||
NiSource Inc. | 5.000% | 6/15/52 | 19,985 | 17,375 | ||
Northern States Power Co. | 2.250% | 4/1/31 | 4,940 | 4,055 | ||
Northern States Power Co. | 6.250% | 6/1/36 | 50,000 | 52,829 | ||
6 | Oglethorpe Power Corp. | 6.191% | 1/1/31 | 36,565 | 37,004 | |
Oglethorpe Power Corp. | 5.950% | 11/1/39 | 6,075 | 5,893 | ||
Oglethorpe Power Corp. | 4.550% | 6/1/44 | 1,825 | 1,421 | ||
Oglethorpe Power Corp. | 4.250% | 4/1/46 | 19,060 | 14,093 | ||
Oglethorpe Power Corp. | 4.500% | 4/1/47 | 4,095 | 3,258 | ||
Oglethorpe Power Corp. | 5.050% | 10/1/48 | 4,690 | 3,995 | ||
Oncor Electric Delivery Co. LLC | 4.150% | 6/1/32 | 4,425 | 4,098 | ||
Oncor Electric Delivery Co. LLC | 4.550% | 9/15/32 | 19,394 | 18,329 | ||
6 | Oncor Electric Delivery Co. LLC | 5.650% | 11/15/33 | 37,160 | 38,194 | |
Oncor Electric Delivery Co. LLC | 4.550% | 12/1/41 | 10,735 | 9,367 | ||
Oncor Electric Delivery Co. LLC | 2.700% | 11/15/51 | 23,120 | 13,770 | ||
Oncor Electric Delivery Co. LLC | 4.600% | 6/1/52 | 26,115 | 22,382 | ||
Oncor Electric Delivery Co. LLC | 4.950% | 9/15/52 | 3,788 | 3,447 | ||
Pacific Gas & Electric Co. | 6.150% | 1/15/33 | 19,542 | 19,430 | ||
Pacific Gas & Electric Co. | 6.400% | 6/15/33 | 18,130 | 18,343 | ||
Pacific Gas & Electric Co. | 6.950% | 3/15/34 | 22,005 | 23,207 | ||
Pacific Gas & Electric Co. | 4.500% | 7/1/40 | 30,234 | 23,974 | ||
Pacific Gas & Electric Co. | 6.750% | 1/15/53 | 13,479 | 13,637 | ||
Pacific Gas & Electric Co. | 6.700% | 4/1/53 | 28,364 | 28,655 | ||
PECO Energy Co. | 2.850% | 9/15/51 | 8,000 | 4,938 | ||
PECO Energy Co. | 4.600% | 5/15/52 | 12,845 | 11,043 | ||
6 | Pennsylvania Electric Co. | 5.150% | 3/30/26 | 910 | 900 | |
3 | PG&E Energy Recovery Funding LLC | 2.280% | 1/15/36 | 3,775 | 2,829 | |
3 | PG&E Energy Recovery Funding LLC | 2.822% | 7/15/46 | 16,989 | 11,389 | |
3 | PG&E Wildfire Recovery Funding LLC | 5.212% | 12/1/47 | 25,815 | 23,967 | |
3 | PG&E Wildfire Recovery Funding LLC | 5.099% | 6/1/52 | 23,500 | 21,724 | |
Piedmont Natural Gas Co. Inc. | 5.050% | 5/15/52 | 9,130 | 7,949 | ||
Potomac Electric Power Co. | 6.500% | 11/15/37 | 25,000 | 27,049 | ||
PPL Electric Utilities Corp. | 5.250% | 5/15/53 | 5,710 | 5,450 | ||
San Diego Gas & Electric Co. | 6.000% | 6/1/26 | 3,600 | 3,671 | ||
3 | San Diego Gas & Electric Co. | 1.700% | 10/1/30 | 4,940 | 3,955 | |
3 | San Diego Gas & Electric Co. | 3.750% | 6/1/47 | 5,390 | 3,982 | |
San Diego Gas & Electric Co. | 4.150% | 5/15/48 | 5,940 | 4,719 | ||
3 | San Diego Gas & Electric Co. | 2.950% | 8/15/51 | 714 | 453 | |
San Diego Gas & Electric Co. | 3.700% | 3/15/52 | 29,320 | 21,123 | ||
San Diego Gas & Electric Co. | 5.350% | 4/1/53 | 39,740 | 37,560 | ||
3 | SCE Recovery Funding LLC | 0.861% | 11/15/31 | 7,893 | 6,605 | |
3 | SCE Recovery Funding LLC | 1.942% | 5/15/38 | 3,655 | 2,512 | |
3 | SCE Recovery Funding LLC | 2.510% | 11/15/43 | 3,310 | 2,095 | |
Sempra | 3.250% | 6/15/27 | 80,765 | 75,222 | ||
Sempra | 3.700% | 4/1/29 | 2,295 | 2,116 | ||
Sempra | 6.000% | 10/15/39 | 14,800 | 14,723 | ||
Sierra Pacific Power Co. | 2.600% | 5/1/26 | 7,857 | 7,401 | ||
3 | Southern California Edison Co. | 3.700% | 8/1/25 | 3,315 | 3,213 | |
Southern California Edison Co. | 5.950% | 11/1/32 | 30,370 | 31,305 | ||
Southern California Edison Co. | 6.000% | 1/15/34 | 7,695 | 7,999 | ||
3 | Southern California Edison Co. | 5.550% | 1/15/37 | 50,475 | 48,061 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3 | Southern California Edison Co. | 5.950% | 2/1/38 | 40,000 | 39,755 | |
Southern California Edison Co. | 6.050% | 3/15/39 | 1,980 | 1,985 | ||
Southern California Edison Co. | 4.650% | 10/1/43 | 3,255 | 2,765 | ||
Southern California Edison Co. | 4.000% | 4/1/47 | 6,530 | 4,987 | ||
3 | Southern California Edison Co. | 4.125% | 3/1/48 | 11,495 | 8,969 | |
3 | Southern California Edison Co. | 4.875% | 3/1/49 | 2,985 | 2,553 | |
Southern California Edison Co. | 3.650% | 2/1/50 | 5,405 | 3,834 | ||
Southern California Edison Co. | 5.700% | 3/1/53 | 6,815 | 6,606 | ||
Southern California Edison Co. | 5.875% | 12/1/53 | 11,230 | 11,160 | ||
Southern California Gas Co. | 6.350% | 11/15/52 | 17,580 | 18,801 | ||
Southern Co. | 3.250% | 7/1/26 | 30,885 | 29,365 | ||
Southern Co. | 4.400% | 7/1/46 | 41,137 | 33,802 | ||
Southern Co. Gas Capital Corp. | 5.750% | 9/15/33 | 6,670 | 6,758 | ||
Southwest Gas Corp. | 2.200% | 6/15/30 | 6,310 | 5,135 | ||
Southwestern Electric Power Co. | 6.200% | 3/15/40 | 9,800 | 9,833 | ||
Southwestern Public Service Co. | 3.700% | 8/15/47 | 3,756 | 2,654 | ||
6 | Texas Electric Market Stabilization Funding N LLC | 4.966% | 2/1/42 | 39,235 | 36,705 | |
6 | Texas Electric Market Stabilization Funding N LLC | 5.057% | 8/1/46 | 18,860 | 17,518 | |
6 | Texas Electric Market Stabilization Funding N LLC | 5.167% | 2/1/50 | 17,640 | 16,472 | |
Tucson Electric Power Co. | 5.500% | 4/15/53 | 6,825 | 6,395 | ||
Union Electric Co. | 4.000% | 4/1/48 | 14,316 | 10,771 | ||
Union Electric Co. | 3.900% | 4/1/52 | 8,575 | 6,515 | ||
Union Electric Co. | 5.450% | 3/15/53 | 8,045 | 7,740 | ||
3 | Virginia Electric & Power Co. | 3.500% | 3/15/27 | 16,025 | 15,229 | |
3 | Virginia Electric & Power Co. | 6.000% | 5/15/37 | 1,740 | 1,780 | |
Wisconsin Electric Power Co. | 5.700% | 12/1/36 | 17,280 | 17,470 | ||
Wisconsin Public Service Corp. | 6.080% | 12/1/28 | 45,000 | 46,122 | ||
3,287,513 | ||||||
Total Corporate Bonds (Cost $25,640,169) | 22,976,349 | |||||
Sovereign Bonds (0.5%) | ||||||
3,6 | Bermuda | 2.375% | 8/20/30 | 18,130 | 14,845 | |
3,6 | Bermuda | 3.375% | 8/20/50 | 6,835 | 4,258 | |
3,6 | Corp. Nacional del Cobre de Chile | 3.700% | 1/30/50 | 20,705 | 13,765 | |
Equinor ASA | 2.875% | 4/6/25 | 4,775 | 4,636 | ||
Equinor ASA | 3.125% | 4/6/30 | 80,155 | 73,036 | ||
Equinor ASA | 2.375% | 5/22/30 | 7,585 | 6,553 | ||
3 | International Bank for Reconstruction & Development | 4.750% | 2/15/35 | 40,000 | 40,091 | |
3,6 | Kingdom of Saudi Arabia | 5.000% | 1/18/53 | 39,870 | 34,123 | |
3,6 | NBN Co. Ltd. | 1.625% | 1/8/27 | 26,265 | 23,583 | |
3,6 | NBN Co. Ltd. | 2.625% | 5/5/31 | 37,954 | 31,479 | |
3,6 | NBN Co. Ltd. | 2.500% | 1/8/32 | 77,087 | 62,393 | |
6 | OMERS Finance Trust | 4.000% | 4/20/28 | 18,090 | 17,439 | |
3,6 | Qatar Energy | 2.250% | 7/12/31 | 31,765 | 26,055 | |
3,6 | Qatar Energy | 3.125% | 7/12/41 | 23,200 | 16,627 | |
3 | Republic of Chile | 2.550% | 7/27/33 | 36,780 | 29,358 | |
3 | Republic of Chile | 3.500% | 1/31/34 | 20,300 | 17,456 | |
Republic of Chile | 3.500% | 4/15/53 | 20,175 | 14,171 | ||
3,6 | Saudi Arabian Oil Co. | 3.500% | 4/16/29 | 28,670 | 26,394 | |
3,6 | State of Qatar | 3.375% | ��� 3/14/24 | 3,360 | 3,335 | |
3,6 | State of Qatar | 4.400% | 4/16/50 | 14,035 | 11,795 | |
3,6 | Temasek Financial I Ltd. | 3.625% | 8/1/28 | 36,800 | 35,313 | |
3,6 | Temasek Financial I Ltd. | 2.375% | 8/2/41 | 33,532 | 23,755 | |
3,6 | UAE International Government Bond | 4.951% | 7/7/52 | 13,725 | 12,583 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
3 | United Mexican States | 6.338% | 5/4/53 | 27,000 | 25,813 | |
Total Sovereign Bonds (Cost $660,427) | 568,856 | |||||
Taxable Municipal Bonds (1.6%) | ||||||
Alabama Federal Aid Highway Finance Authority SO Revenue | 2.650% | 9/1/37 | 4,935 | 3,761 | ||
Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area) | 6.918% | 4/1/40 | 19,615 | 21,756 | ||
Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area) | 6.263% | 4/1/49 | 1,965 | 2,151 | ||
Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area) | 7.043% | 4/1/50 | 26,165 | 30,879 | ||
Broward County FL Airport System Revenue | 3.477% | 10/1/43 | 10,370 | 8,101 | ||
California GO | 7.350% | 11/1/39 | 56,970 | 65,873 | ||
California Health Facilities Financing Authority Revenue | 4.190% | 6/1/37 | 4,380 | 3,864 | ||
California State University Systemwide Revenue | 2.719% | 11/1/52 | 12,090 | 7,698 | ||
California State University Systemwide Revenue | 2.939% | 11/1/52 | 15,225 | 9,806 | ||
Chicago IL Transit Authority Sales & Transfer Tax Receipts Revenue | 6.899% | 12/1/40 | 32,955 | 35,951 | ||
Chicago IL Transit Authority Sales & Transfer Tax Receipts Revenue | 6.899% | 12/1/40 | 56,275 | 61,391 | ||
Chicago IL Transit Authority Sales Tax Receipts Revenue | 6.200% | 12/1/40 | 2,260 | 2,357 | ||
Dallas-Fort Worth TX International Airport Revenue | 3.089% | 11/1/40 | 7,405 | 5,592 | ||
Dallas-Fort Worth TX International Airport Revenue | 2.843% | 11/1/46 | 18,860 | 13,142 | ||
Dallas-Fort Worth TX International Airport Revenue | 4.087% | 11/1/51 | 2,695 | 2,172 | ||
Dallas-Fort Worth TX International Airport Revenue | 4.507% | 11/1/51 | 18,580 | 16,034 | ||
Florida State Board of Administration Finance Corp. Revenue | 1.705% | 7/1/27 | 29,555 | 26,261 | ||
8 | Foothill-Eastern Transportation Corridor Agency CA Toll Road Revenue | 3.924% | 1/15/53 | 11,545 | 8,542 | |
Georgia Municipal Electric Power Authority Revenue | 6.637% | 4/1/57 | 69,008 | 74,375 | ||
Golden State Tobacco Securitization Corp. California Revenue | 2.746% | 6/1/34 | 2,430 | 1,956 | ||
Golden State Tobacco Securitization Corp. California Revenue | 3.293% | 6/1/42 | 4,645 | 3,381 | ||
Golden State Tobacco Securitization Corp. California Revenue | 3.000% | 6/1/46 | 9,020 | 8,098 | ||
Grand Parkway Transportation Corp. Texas System Toll Revenue | 5.184% | 10/1/42 | 5,645 | 5,473 | ||
Grand Parkway Transportation Corp. Texas System Toll Revenue | 3.236% | 10/1/52 | 28,900 | 20,069 | ||
Great Lakes Michigan Water Authority Sewage Disposal System Revenue | 3.056% | 7/1/39 | 8,495 | 6,626 | ||
Houston TX GO | 6.290% | 3/1/32 | 13,735 | 14,317 | ||
Illinois GO | 5.100% | 6/1/33 | 186,680 | 179,555 | ||
Illinois Toll Highway Authority Revenue | 6.184% | 1/1/34 | 29,200 | 30,738 | ||
JobsOhio Beverage System OH Statewide Liquor Profits Revenue | 4.433% | 1/1/33 | 12,180 | 11,855 | ||
JobsOhio Beverage System OH Statewide Liquor Profits Revenue | 2.833% | 1/1/38 | 5,480 | 4,241 | ||
Kansas Development Finance Authority Revenue | 4.927% | 4/15/45 | 7,745 | 7,183 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
9 | Kansas Development Finance Authority Revenue | 2.774% | 5/1/51 | 15,140 | 9,979 | |
8 | Kansas Development Finance Authority Revenue (Employees Retirement System) | 5.501% | 5/1/34 | 50,000 | 50,580 | |
Louisville & Jefferson County KY Metropolitan Sewer District Sewer & Drainage System Revenue | 6.250% | 5/15/43 | 19,000 | 20,568 | ||
Maryland Transportation Authority Facilities Projects Revenue | 5.888% | 7/1/43 | 18,985 | 19,506 | ||
Massachusetts GO | 2.514% | 7/1/41 | 8,175 | 5,748 | ||
Massachusetts School Building Authority Dedicated Sales Tax Revenue | 1.753% | 8/15/30 | 27,675 | 23,081 | ||
Massachusetts School Building Authority Dedicated Sales Tax Revenue | 5.715% | 8/15/39 | 22,105 | 22,548 | ||
Massachusetts School Building Authority Dedicated Sales Tax Revenue | 3.395% | 10/15/40 | 16,520 | 13,221 | ||
Massachusetts School Building Authority Dedicated Sales Tax Revenue | 2.950% | 5/15/43 | 21,350 | 14,727 | ||
Massachusetts SO Revenue | 4.110% | 7/15/31 | 14,872 | 14,492 | ||
Massachusetts Water Resources Authority Revenue | 2.823% | 8/1/41 | 24,550 | 18,272 | ||
Michigan Finance Authority Revenue (Trinity Health Credit Group) | 3.084% | 12/1/34 | 11,320 | 9,460 | ||
New Jersey Turnpike Authority Revenue | 7.414% | 1/1/40 | 30,285 | 35,866 | ||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.200% | 11/15/26 | 1,395 | 1,414 | ||
New York Metropolitan Transportation Authority Revenue (Build America Bonds) | 6.814% | 11/15/40 | 27,295 | 29,130 | ||
New York Metropolitan Transportation Authority Revenue (Climate Bond Certified) | 5.175% | 11/15/49 | 23,665 | 21,502 | ||
New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 7.336% | 11/15/39 | 10,860 | 12,690 | ||
New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 6.089% | 11/15/40 | 16,085 | 16,635 | ||
New York State Thruway Authority General Revenue | 2.900% | 1/1/35 | 16,730 | 13,989 | ||
New York State Thruway Authority General Revenue | 3.500% | 1/1/42 | 9,430 | 7,467 | ||
North Texas Tollway Authority System Revenue | 3.011% | 1/1/43 | 14,315 | 10,272 | ||
North Texas Tollway Authority System Revenue | 6.718% | 1/1/49 | 11,035 | 12,794 | ||
Oregon Department of Transportation Highway User Tax Revenue | 5.834% | 11/15/34 | 25,930 | 27,039 | ||
8 | Oregon School Boards Association GO | 5.528% | 6/30/28 | 42,908 | 43,046 | |
9 | Oregon State University General Revenue | 3.424% | 3/1/60 | 28,000 | 19,341 | |
10 | Philadelphia PA Authority for Industrial Development Revenue | 6.550% | 10/15/28 | 66,810 | 69,760 | |
Port Authority of New York & New Jersey Revenue | 5.859% | 12/1/24 | 2,600 | 2,610 | ||
Port Authority of New York & New Jersey Revenue | 5.072% | 7/15/53 | 34,900 | 32,743 | ||
Port Authority of New York & New Jersey Revenue | 4.458% | 10/1/62 | 44,055 | 37,139 | ||
Port Authority of New York & New Jersey Revenue | 4.810% | 10/15/65 | 21,985 | 19,665 | ||
Riverside CA Pension Obligation Bonds Revenue | 3.857% | 6/1/45 | 8,775 | 7,102 | ||
Riverside County CA Pension Obligation Bonds Revenue | 3.818% | 2/15/38 | 9,585 | 8,422 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Rutgers State University New Jersey Revenue | 3.270% | 5/1/43 | 11,960 | 9,125 | ||
Sales Tax Securitization Corp. Illinois Revenue | 3.238% | 1/1/42 | 34,905 | 26,558 | ||
Texas Natural Gas Securitization Finance Corp. Revenue (Winter Storm Uri) | 5.102% | 4/1/35 | 13,630 | 13,617 | ||
Texas Natural Gas Securitization Finance Corp. Revenue (Winter Storm Uri) | 5.169% | 4/1/41 | 20,070 | 19,753 | ||
Texas Transportation Commission GO | 2.562% | 4/1/42 | 7,310 | 5,210 | ||
Texas Transportation Commission State Highway Revenue | 4.000% | 10/1/33 | 12,640 | 11,707 | ||
University of California Regents Medical Center Pooled Revenue | 4.132% | 5/15/32 | 17,265 | 15,972 | ||
University of California Regents Medical Center Pooled Revenue | 6.548% | 5/15/48 | 9,465 | 10,384 | ||
University of California Regents Medical Center Pooled Revenue | 6.583% | 5/15/49 | 15,150 | 16,643 | ||
University of California Regents Medical Center Pooled Revenue | 3.006% | 5/15/50 | 15,445 | 9,955 | ||
University of California Regents Medical Center Pooled Revenue | 4.563% | 5/15/53 | 46,830 | 39,993 | ||
University of California Regents Medical Center Pooled Revenue | 3.256% | 5/15/60 | 26,520 | 16,853 | ||
University of California Revenue | 1.316% | 5/15/27 | 13,075 | 11,605 | ||
University of California Revenue | 1.614% | 5/15/30 | 16,140 | 13,167 | ||
University of California Revenue | 4.765% | 5/15/44 | 5,980 | 5,622 | ||
University of California Revenue | 3.931% | 5/15/45 | 22,370 | 19,436 | ||
University of Michigan Revenue | 2.562% | 4/1/50 | 32,056 | 20,033 | ||
University of Michigan Revenue | 3.504% | 4/1/52 | 7,445 | 5,605 | ||
University of Minnesota Revenue | 4.048% | 4/1/52 | 27,160 | 22,442 | ||
Utility Debt Securitization Authority NY Restructuring Bonds Revenue | 3.435% | 12/15/25 | 1,714 | 1,713 | ||
Total Taxable Municipal Bonds (Cost $1,851,142) | 1,639,399 | |||||
Shares | ||||||
Temporary Cash Investments (1.2%) | ||||||
Money Market Fund (0.0%) | ||||||
11,12 | Vanguard Market Liquidity Fund | 5.438% | 18,480 | 1,848 | ||
Maturity Date | Face Amount ($000) | |||||
Repurchase Agreements (1.2%) | ||||||
Bank of America Securities, LLC (Dated 11/30/23, Repurchase Value $125,018,000, collateralized by Fannie Mae 2.000%–7.210%, 7/1/27–10/1/53, Freddie Mac 1.500%–6.743%, 8/1/24–7/1/53, and Ginnie Mae 6.000%, 11/15/32, with a value of $127,500,000) | 5.310% | 12/1/23 | 125,000 | 125,000 | ||
Citigroup Global Markets Inc. (Dated 11/30/23, Repurchase Value $95,314,000, collateralized by U.S. Treasury Note/Bond 0.500%, 3/31/25, with a value of $97,206,000) | 5.300% | 12/1/23 | 95,300 | 95,300 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
Credit Agricole Securities (USA) Inc. (Dated 11/30/23, Repurchase Value $117,317,000, collateralized by Treasury Inflation Indexed Note/Bond 0.125%–1.125%, 7/15/30–1/15/33, with a value of $119,646,000) | 5.300% | 12/1/23 | 117,300 | 117,300 | ||
Deutsche Bank Securities, Inc. (Dated 11/30/23, Repurchase Value $94,814,000, collateralized by Ginnie Mae 2.500%–3.000%, 1/20/51–9/20/51, with a value of $96,696,000) | 5.300% | 12/1/23 | 94,800 | 94,800 | ||
HSBC Bank USA (Dated 11/30/23, Repurchase Value $95,114,000, collateralized by U.S. Treasury Note/Bond 0.375%–3.125%, 9/15/24–2/15/42, with a value of $97,002,000) | 5.300% | 12/1/23 | 95,100 | 95,100 | ||
HSBC Bank USA (Dated 11/30/23, Repurchase Value $62,709,000, collateralized by Fannie Mae 1.500%–6.500%, 9/1/35–12/1/53, with a value of $63,954,000) | 5.310% | 12/1/23 | 62,700 | 62,700 | ||
JP Morgan Securities LLC (Dated 11/30/23, Repurchase Value $59,009,000, collateralized by U.S. Treasury Bill 0.000%, 3/19/24–5/30/24, and U.S. Treasury Note/Bond 0.250%–3.000%, 11/30/24–10/31/27, with a value of $60,180,000) | 5.310% | 12/1/23 | 59,000 | 59,000 | ||
Nomura International plc (Dated 11/30/23, Repurchase Value $31,205,000, collateralized by U.S. Treasury Note/Bond 2.250%–2.875%, 11/15/27–5/15/49, with a value of $31,824,000) | 5.300% | 12/1/23 | 31,200 | 31,200 | ||
RBC Capital Markets LLC (Dated 11/30/23, Repurchase Value $62,809,000, collateralized by Freddie Mac 3.000%–4.500%, 9/1/42–12/1/52, U.S. Treasury Bill 0.000%, 2/22/24, and U.S. Treasury Note/Bond 0.750%, 3/31/26, with a value of $64,056,000) | 5.300% | 12/1/23 | 62,800 | 62,800 | ||
Societe Generale (Dated 11/30/23, Repurchase Value $159,123,000, collateralized by Fannie Mae 4.000%–4.500%, 9/1/52–2/1/57, and Freddie Mac 3.000%–6.500%, 10/1/44–12/1/53, with a value of $162,282,000) | 5.310% | 12/1/23 | 159,100 | 159,100 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | |||
TD Securities (USA) LLC (Dated 11/30/23, Repurchase Value $155,723,000, collateralized by Ginnie Mae 3.500%–7.500%, 10/20/41–10/20/53, with a value of $158,814,000) | 5.310% | 12/1/23 | 155,700 | 155,700 | ||
Wells Fargo & Co. (Dated 11/30/23, Repurchase Value $162,824,000, collateralized by Ginnie Mae 3.000%–6.500%, 4/20/36–7/20/53, with a value of $166,056,000) | 5.310% | 12/1/23 | 162,800 | 162,800 | ||
1,220,800 | ||||||
Total Temporary Cash Investments (Cost $1,222,645) | 1,222,648 | |||||
Total Investments (99.8%) (Cost $83,371,473) | 104,583,345 | |||||
Other Assets and Liabilities—Net (0.2%) | 160,148 | |||||
Net Assets (100%) | 104,743,493 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,670,000. |
2 | Securities with a value of $16,790,000 have been segregated as initial margin for open futures contracts. |
3 | The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called. |
4 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
5 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of November 30, 2023. |
6 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2023, the aggregate value was $6,569,179,000, representing 6.3% of net assets. |
7 | Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
8 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
9 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
10 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
11 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
12 | Collateral of $1,706,000 was received for securities on loan. |
ADR—American Depositary Receipt. | |
DAC—Designated Activity Company. | |
GO—General Obligation Bond. | |
REMICS—Real Estate Mortgage Investment Conduits. | |
SO—Special Obligation. | |
SOFR30A—30 Day Average Secured Overnight Financing Rate. | |
TSFR1M—CME Term Secured Overnight Financing Rate 1-Month. | |
UMBS—Uniform Mortgage-Backed Securities. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
5-Year U.S. Treasury Note | March 2024 | 2,265 | 242,019 | 1,757 |
Short Futures Contracts | ||||
Ultra 10-Year U.S. Treasury Note | March 2024 | (550) | (62,434) | 58 |
1,815 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $83,369,628) | 104,581,497 |
Affiliated Issuers (Cost $1,845) | 1,848 |
Total Investments in Securities | 104,583,345 |
Investment in Vanguard | 3,515 |
Cash | 2,344 |
Foreign Currency, at Value (Cost $35,821) | 36,153 |
Receivables for Investment Securities Sold | 416,273 |
Receivables for Accrued Income | 494,258 |
Receivables for Capital Shares Issued | 24,805 |
Total Assets | 105,560,693 |
Liabilities | |
Payables for Investment Securities Purchased | 748,659 |
Collateral for Securities on Loan | 1,706 |
Payables for Capital Shares Redeemed | 37,234 |
Payables to Investment Advisor | 19,859 |
Payables to Vanguard | 5,824 |
Variation Margin Payable—Futures Contracts | 3,918 |
Total Liabilities | 817,200 |
Net Assets | 104,743,493 |
1 Includes $1,670,000 of securities on loan. |
Statement of Assets and Liabilities (continued) | |
At November 30, 2023, net assets consisted of: | |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Paid-in Capital | 79,171,947 |
Total Distributable Earnings (Loss) | 25,571,546 |
Net Assets | 104,743,493 |
Investor Shares—Net Assets | |
Applicable to 308,340,442 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 12,831,209 |
Net Asset Value Per Share—Investor Shares | $41.61 |
Admiral Shares—Net Assets | |
Applicable to 1,279,033,968 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 91,912,284 |
Net Asset Value Per Share—Admiral Shares | $71.86 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 1,255,851 |
Interest2 | 1,378,611 |
Securities Lending—Net | 46 |
Total Income | 2,634,508 |
Expenses | |
Investment Advisory Fees—Note B | |
Basic Fee | 79,690 |
Performance Adjustment | (806) |
The Vanguard Group—Note C | |
Management and Administrative—Investor Shares | 21,717 |
Management and Administrative—Admiral Shares | 87,081 |
Marketing and Distribution—Investor Shares | 638 |
Marketing and Distribution—Admiral Shares | 3,196 |
Custodian Fees | 356 |
Auditing Fees | 32 |
Shareholders’ Reports—Investor Shares | 360 |
Shareholders’ Reports—Admiral Shares | 385 |
Trustees’ Fees and Expenses | 59 |
Other Expenses | 2,904 |
Total Expenses | 195,612 |
Expenses Paid Indirectly | (305) |
Net Expenses | 195,307 |
Net Investment Income | 2,439,201 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 4,206,230 |
Futures Contracts | (18,251) |
Swap Contracts | (4,434) |
Foreign Currencies | 1,918 |
Realized Net Gain (Loss) | 4,185,463 |
Statement of Operations (continued) | |
Year Ended November 30, 2023 | |
($000) | |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 344,960 |
Futures Contracts | (1,333) |
Foreign Currencies | 2,964 |
Change in Unrealized Appreciation (Depreciation) | 346,591 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,971,255 |
1 | Dividends include foreign tax reclaims of $26,081,000 and are net of foreign withholding taxes of $24,679,000. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $0, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 2,439,201 | 2,281,729 |
Realized Net Gain (Loss) | 4,185,463 | 6,068,373 |
Change in Unrealized Appreciation (Depreciation) | 346,591 | (18,654,799) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,971,255 | (10,304,697) |
Distributions | ||
Investor Shares | (992,127) | (1,281,722) |
Admiral Shares | (7,162,238) | (9,066,000) |
Total Distributions | (8,154,365) | (10,347,722) |
Capital Share Transactions | ||
Investor Shares | (110,436) | 207,506 |
Admiral Shares | (552,828) | 3,179,261 |
Net Increase (Decrease) from Capital Share Transactions | (663,264) | 3,386,767 |
Total Increase (Decrease) | (1,846,374) | (17,265,652) |
Net Assets | ||
Beginning of Period | 106,589,867 | 123,855,519 |
End of Period | 104,743,493 | 106,589,867 |
Investor Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $42.19 | $50.15 | $46.10 | $43.72 | $41.86 |
Investment Operations | |||||
Net Investment Income1 | .917 | .857 | .811 | .966 | 1.098 |
Net Realized and Unrealized Gain (Loss) on Investments | 1.704 | (4.681) | 6.638 | 3.345 | 4.269 |
Total from Investment Operations | 2.621 | (3.824) | 7.449 | 4.311 | 5.367 |
Distributions | |||||
Dividends from Net Investment Income | (.921) | (.828) | (.818) | (1.004) | (1.099) |
Distributions from Realized Capital Gains | (2.280) | (3.308) | (2.581) | (.927) | (2.408) |
Total Distributions | (3.201) | (4.136) | (3.399) | (1.931) | (3.507) |
Net Asset Value, End of Period | $41.61 | $42.19 | $50.15 | $46.10 | $43.72 |
Total Return2 | 6.94% | -8.43% | 17.16% | 10.41% | 14.22% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $12,831 | $13,097 | $15,469 | $15,635 | $17,209 |
Ratio of Total Expenses to Average Net Assets3 | 0.26%4 | 0.25%4 | 0.24% | 0.24% | 0.25% |
Ratio of Net Investment Income to Average Net Assets | 2.29% | 1.98% | 1.70% | 2.28% | 2.70% |
Portfolio Turnover Rate5 | 39% | 41% | 35% | 51% | 28% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of (0.00%), (0.01%), (0.02%), (0.02%), and (0.00%). |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset and broker commission abatement arrangements was 0.26% and 0.25%, respectively. |
5 | Includes 1%, 8%, 2%, 3%, and 1%, respectively, attributable to mortgage-dollar-roll activity. |
Admiral Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $72.86 | $86.61 | $79.62 | $75.51 | $72.29 |
Investment Operations | |||||
Net Investment Income1 | 1.638 | 1.540 | 1.464 | 1.720 | 1.954 |
Net Realized and Unrealized Gain (Loss) on Investments | 2.945 | (8.083) | 11.461 | 5.784 | 7.379 |
Total from Investment Operations | 4.583 | (6.543) | 12.925 | 7.504 | 9.333 |
Distributions | |||||
Dividends from Net Investment Income | (1.646) | (1.493) | (1.477) | (1.794) | (1.955) |
Distributions from Realized Capital Gains | (3.937) | (5.714) | (4.458) | (1.600) | (4.158) |
Total Distributions | (5.583) | (7.207) | (5.935) | (3.394) | (6.113) |
Net Asset Value, End of Period | $71.86 | $72.86 | $86.61 | $79.62 | $75.51 |
Total Return2 | 7.03% | -8.36% | 17.25% | 10.50% | 14.33% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $91,912 | $93,492 | $108,386 | $96,009 | $93,469 |
Ratio of Total Expenses to Average Net Assets3 | 0.18%4 | 0.17%4 | 0.16% | 0.16% | 0.17% |
Ratio of Net Investment Income to Average Net Assets | 2.37% | 2.06% | 1.77% | 2.35% | 2.78% |
Portfolio Turnover Rate5 | 39% | 41% | 35% | 51% | 28% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
3 | Includes performance-based investment advisory fee increases (decreases) of (0.00%), (0.01%), (0.02%), (0.02%), and (0.00%). |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset and broker commission abatement arrangements was 0.18% and 0.17%, respectively. |
5 | Includes 1%, 8%, 2%, 3%, and 1%, respectively, attributable to mortgage-dollar-roll activity. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 62,840,396 | 5,362,633 | — | 68,203,029 |
U.S. Government and Agency Obligations | — | 8,903,264 | — | 8,903,264 |
Asset-Backed/Commercial Mortgage-Backed Securities | — | 1,069,800 | — | 1,069,800 |
Corporate Bonds | — | 22,976,349 | — | 22,976,349 |
Sovereign Bonds | — | 568,856 | — | 568,856 |
Taxable Municipal Bonds | — | 1,639,399 | — | 1,639,399 |
Temporary Cash Investments | 1,848 | 1,220,800 | — | 1,222,648 |
Total | 62,842,244 | 41,741,101 | — | 104,583,345 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 1,815 | — | — | 1,815 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized Net Gain (Loss) on Derivatives | Interest Rate Contracts ($000) | Credit Contracts ($000) | Total ($000) |
Futures Contracts | (18,251) | — | (18,251) |
Swap Contracts | — | (4,434) | (4,434) |
Realized Net Gain (Loss) on Derivatives | (18,251) | (4,434) | (22,685) |
Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
Futures Contracts | (1,333) | — | (1,333) |
Change in Unrealized Appreciation (Depreciation) on Derivatives | (1,333) | — | (1,333) |
Amount ($000) | |
Paid-in Capital | 197,238 |
Total Distributable Earnings (Loss) | (197,238) |
Amount ($000) | |
Undistributed Ordinary Income | 533,837 |
Undistributed Long-Term Gains | 3,881,678 |
Net Unrealized Gains (Losses) | 21,156,031 |
Capital Loss Carryforwards | — |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 25,571,546 |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 2,430,007 | 3,864,834 |
Long-Term Capital Gains | 5,724,358 | 6,482,888 |
Total | 8,154,365 | 10,347,722 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 83,430,180 |
Gross Unrealized Appreciation | 26,211,395 |
Gross Unrealized Depreciation | (5,058,230) |
Net Unrealized Appreciation (Depreciation) | 21,153,165 |
Year Ended November 30, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Investor Shares | |||||
Issued | 1,206,571 | 29,910 | 1,286,082 | 29,118 | |
Issued in Lieu of Cash Distributions | 948,779 | 24,646 | 1,221,648 | 25,794 | |
Redeemed | (2,265,786) | (56,621) | (2,300,224) | (52,957) | |
Net Increase (Decrease)—Investor Shares | (110,436) | (2,065) | 207,506 | 1,955 | |
Admiral Shares | |||||
Issued | 4,339,920 | 62,780 | 6,311,279 | 83,059 | |
Issued in Lieu of Cash Distributions | 6,614,009 | 99,497 | 8,395,579 | 102,747 | |
Redeemed | (11,506,757) | (166,348) | (11,527,597) | (154,162) | |
Net Increase (Decrease)—Admiral Shares | (552,828) | (4,071) | 3,179,261 | 31,644 |
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January 19, 2024
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
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Vanguard U.S. Minimum Volatility ETF |
Vanguard U.S. Momentum Factor ETF |
Vanguard U.S. Multifactor ETF |
Vanguard U.S. Quality Factor ETF |
Vanguard U.S. Value Factor ETF |
Your Fund’s Performance at a Glance | 1 |
Advisor's Report | 2 |
About Your Fund’s Expenses | 4 |
U.S. Minimum Volatility ETF | 6 |
U.S. Momentum Factor ETF | 20 |
U.S. Multifactor ETF | 37 |
U.S. Quality Factor ETF | 53 |
U.S. Value Factor ETF | 69 |
• | Vanguard’s five U.S. Factor ETFs posted returns ranging from –0.06% to 6.84% (based on net asset value) for the 12 months ended November 30, 2023. All five ETFs underperformed the 12.61% return of their benchmark, the Russell 3000 Index. |
• | For much of the period, inflation continued to ease amid interest rate hikes by the Federal Reserve. Unexpected resilience in the labor market and consumer spending dialed back expectations of an imminent recession. Although the prospect of higher interest rates for longer and heightened geopolitical tensions weighed on market sentiment at times toward the close of the period, global stocks and bonds rallied in November. |
• | The U.S. Factor ETFs seek to provide long-term capital appreciation by investing in stocks that have lower or higher measures of certain factors relative to the broad U.S. equity market. |
• | Vanguard U.S. Quality Factor ETF performed best among the group. A lack of exposure to utilities, selection in industrials, and an underweight allocation to real estate contributed the most to its relative performance. Vanguard U.S. Momentum Factor ETF performed the worst. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 13.57% | 8.72% | 12.25% |
Russell 2000 Index (Small-caps) | -2.56 | 1.13 | 4.78 |
Russell 3000 Index (Broad U.S. market) | 12.61 | 8.26 | 11.77 |
FTSE All-World ex US Index (International) | 9.64 | 2.12 | 5.49 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | 1.32% | -4.46% | 0.79% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 4.28 | -0.96 | 2.03 |
FTSE Three-Month U.S. Treasury Bill Index | 5.12 | 2.08 | 1.85 |
CPI | |||
Consumer Price Index | 3.14% | 5.67% | 4.03% |
• | Vanguard U.S. Minimum Volatility ETF seeks to build a portfolio of stocks with lower volatility relative to the broad U.S. equity market. |
• | Vanguard U.S. Momentum Factor ETF seeks exposure to stocks with relatively strong recent performance as identified by measures such as returns over different periods. |
• | Vanguard U.S. Multifactor ETF seeks exposure to stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals. |
• | Vanguard U.S. Quality Factor ETF seeks exposure to stocks with strong fundamentals as identified by measures such as profitability, earnings, and balance-sheet strength. |
• | Vanguard U.S. Value Factor ETF seeks exposure to stocks with lower prices |
• | The U.S. Minimum Volatility ETF was held back the most by our positions in IT, |
• | The U.S. Momentum Factor ETF was held back in particular by our positions in IT, health care, and energy. The underperformance was somewhat offset by our lack of exposure to utilities and underweight allocations to real estate and industrials. |
• | The U.S. Multifactor ETF was hurt the most by our positions in IT, communication services, and financials. Our lack of exposure to utilities, underweight allocation to real estate, and selection in industrials contributed to relative performance. |
• | The U.S. Quality Factor ETF was held back in particular by our positions in IT, communication services, and consumer staples. Our lack of exposure to utilities, selection in industrials, and underweight allocation to real estate added the most to results. |
• | The U.S. Value Factor ETF was hurt the most by our positions in IT, financials, and communication services. Selection in industrials, a lack of exposure to utilities, and an underweight allocation to health care benefited relative performance the most. |
Principal, Global Head,
and Portfolio Manager
Head of Equity Factor Investments
and Portfolio Manager
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended November 30, 2023 | |||
Beginning Account Value 5/31/2023 | Ending Account Value 11/30/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
U.S. Minimum Volatility ETF | $1,000.00 | $1,061.70 | $0.67 |
U.S. Momentum Factor ETF | $1,000.00 | $1,078.10 | $0.68 |
U.S. Multifactor ETF | $1,000.00 | $1,127.40 | $0.96 |
U.S. Quality Factor ETF | $1,000.00 | $1,126.50 | $0.69 |
U.S. Value Factor ETF | $1,000.00 | $1,141.50 | $0.70 |
Based on Hypothetical 5% Yearly Return | |||
U.S. Minimum Volatility ETF | $1,000.00 | $1,024.42 | $0.66 |
U.S. Momentum Factor ETF | $1,000.00 | $1,024.42 | $0.66 |
U.S. Multifactor ETF | $1,000.00 | $1,024.17 | $0.91 |
U.S. Quality Factor ETF | $1,000.00 | $1,024.42 | $0.66 |
U.S. Value Factor ETF | $1,000.00 | $1,024.42 | $0.66 |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Since Inception (2/13/2018) | Final Value of a $10,000 Investment | ||
U.S. Minimum Volatility ETF Net Asset Value | 1.13% | 6.82% | 7.63% | $15,308 | |
US Minimum Volatility ETF Market Price | 1.21 | 6.83 | 7.63 | 15,316 | |
Russell 3000 Index | 12.61 | 11.77 | 11.02 | 18,324 |
One Year | Five Years | Since Inception (2/13/2018) | |
US Minimum Volatility ETF Market Price | 1.21% | 39.13% | 53.16% |
US Minimum Volatility ETF Net Asset Value | 1.13 | 39.07 | 53.08 |
Russell 3000 Index | 12.61 | 74.44 | 83.24 |
Consumer Discretionary | 14.5% |
Consumer Staples | 11.6 |
Energy | 2.8 |
Financials | 11.5 |
Health Care | 14.3 |
Industrials | 10.0 |
Real Estate | 1.2 |
Technology | 21.4 |
Telecommunications | 6.8 |
Utilities | 5.9 |
Shares | Market Value• ($000) | ||
Common Stocks (99.4%) | |||
Consumer Discretionary (14.5%) | |||
Electronic Arts Inc. | 10,951 | 1,511 | |
* | O'Reilly Automotive Inc. | 1,485 | 1,459 |
TJX Cos. Inc. | 16,140 | 1,422 | |
McDonald's Corp. | 4,997 | 1,408 | |
* | Stride Inc. | 18,932 | 1,147 |
Walmart Inc. | 6,264 | 975 | |
Service Corp. International | 11,850 | 726 | |
Murphy USA Inc. | 1,791 | 662 | |
* | Instructure Holdings Inc. | 23,451 | 613 |
* | Grand Canyon Education Inc. | 4,050 | 554 |
* | Atlanta Braves Holdings Inc. Class C | 14,532 | 522 |
Marcus Corp. | 30,320 | 422 | |
* | AutoZone Inc. | 150 | 392 |
* | Atlanta Braves Holdings Inc. Class A | 7,499 | 303 |
* | QuinStreet Inc. | 23,171 | 289 |
* | Madison Square Garden Sports Corp. | 1,606 | 272 |
Rollins Inc. | 6,185 | 252 | |
Laureate Education Inc. | 15,944 | 209 | |
* | Adtalem Global Education Inc. | 3,593 | 205 |
Graham Holdings Co. Class B | 139 | 87 | |
* | Cars.com Inc. | 1,820 | 34 |
* | Daily Journal Corp. | 100 | 33 |
13,497 | |||
Consumer Staples (11.5%) | |||
McKesson Corp. | 3,107 | 1,462 | |
Church & Dwight Co. Inc. | 14,473 | 1,399 | |
Procter & Gamble Co. | 6,880 | 1,056 | |
Cencora Inc. | 4,457 | 906 | |
Colgate-Palmolive Co. | 11,422 | 900 | |
General Mills Inc. | 10,423 | 664 | |
Hormel Foods Corp. | 16,912 | 517 | |
Hershey Co. | 2,612 | 491 | |
Flowers Foods Inc. | 22,518 | 469 | |
Altria Group Inc. | 9,873 | 415 | |
Kimberly-Clark Corp. | 3,244 | 401 | |
Kellanova | 7,259 | 381 | |
John B Sanfilippo & Son Inc. | 4,072 | 375 | |
Mondelez International Inc. Class A | 4,862 | 346 | |
Universal Corp. | 4,837 | 272 | |
J & J Snack Foods Corp. | 1,521 | 250 | |
Oil-Dri Corp. of America | 2,294 | 130 | |
Coca-Cola Co. | 1,837 | 107 |
Shares | Market Value• ($000) | ||
PepsiCo Inc. | 363 | 61 | |
Lancaster Colony Corp. | 358 | 59 | |
Reynolds Consumer Products Inc. | 2,198 | 58 | |
J M Smucker Co. | 405 | 45 | |
10,764 | |||
Energy (2.7%) | |||
Exxon Mobil Corp. | 9,682 | 995 | |
Chevron Corp. | 5,195 | 746 | |
Williams Cos. Inc. | 16,329 | 601 | |
Kinder Morgan Inc. | 12,617 | 221 | |
2,563 | |||
Financials (11.5%) | |||
Cboe Global Markets Inc. | 8,189 | 1,492 | |
CME Group Inc. | 6,427 | 1,403 | |
Safety Insurance Group Inc. | 14,286 | 1,099 | |
White Mountains Insurance Group Ltd. | 640 | 980 | |
* | Enstar Group Ltd. | 3,553 | 976 |
First Financial Corp. | 23,942 | 916 | |
AMERISAFE Inc. | 12,581 | 606 | |
City Holding Co. | 5,851 | 563 | |
* | Columbia Financial Inc. | 27,279 | 449 |
Travelers Cos. Inc. | 2,225 | 402 | |
Waterstone Financial Inc. | 30,412 | 371 | |
Arthur J Gallagher & Co. | 1,472 | 367 | |
Progressive Corp. | 1,600 | 262 | |
Donegal Group Inc. Class A | 13,137 | 187 | |
Great Southern Bancorp Inc. | 3,671 | 187 | |
* | Berkshire Hathaway Inc. Class B | 334 | 120 |
Horace Mann Educators Corp. | 3,515 | 118 | |
* | Greenlight Capital Re Ltd. Class A | 4,452 | 49 |
Intercontinental Exchange Inc. | 416 | 47 | |
* | Blue Foundry Bancorp | 4,591 | 40 |
Employers Holdings Inc. | 921 | 35 | |
* | FVCBankcorp Inc. | 2,036 | 23 |
10,692 | |||
Health Care (14.2%) | |||
Johnson & Johnson | 9,112 | 1,409 | |
Merck & Co. Inc. | 13,590 | 1,393 | |
AbbVie Inc. | 9,545 | 1,359 | |
Eli Lilly & Co. | 2,019 | 1,193 | |
Gilead Sciences Inc. | 14,782 | 1,132 | |
National HealthCare Corp. | 14,175 | 1,085 | |
Chemed Corp. | 1,674 | 949 | |
Amgen Inc. | 3,457 | 932 |
Shares | Market Value• ($000) | ||
Bristol-Myers Squibb Co. | 17,668 | 872 | |
Cardinal Health Inc. | 8,036 | 860 | |
HealthStream Inc. | 27,965 | 699 | |
* | Prestige Consumer Healthcare Inc. | 8,014 | 460 |
* | Incyte Corp. | 5,552 | 302 |
Becton Dickinson & Co. | 1,146 | 271 | |
UnitedHealth Group Inc. | 186 | 103 | |
* | Vertex Pharmaceuticals Inc. | 241 | 86 |
* | Merrimack Pharmaceuticals Inc. | 5,466 | 69 |
* | Neurocrine Biosciences Inc. | 545 | 64 |
*,1 | Theravance Biopharma Inc. | 2,954 | 31 |
* | Summit Therapeutics Inc. (XNMS) | 9,144 | 19 |
13,288 | |||
Industrials (9.9%) | |||
Northrop Grumman Corp. | 3,078 | 1,462 | |
* | Kirby Corp. | 18,278 | 1,403 |
Lockheed Martin Corp. | 3,121 | 1,397 | |
* | FTI Consulting Inc. | 6,090 | 1,343 |
* | Huron Consulting Group Inc. | 9,493 | 989 |
* | OSI Systems Inc. | 7,465 | 920 |
Cass Information Systems Inc. | 14,495 | 599 | |
Accenture plc Class A | 789 | 263 | |
Ennis Inc. | 11,637 | 247 | |
Heartland Express Inc. | 15,633 | 210 | |
Powell Industries Inc. | 1,210 | 101 | |
* | Leonardo DRS Inc. | 4,645 | 86 |
* | Overseas Shipholding Group Inc. Class A | 14,556 | 71 |
General Dynamics Corp. | 218 | 54 | |
Marten Transport Ltd. | 1,866 | 35 | |
* | CPI Card Group Inc. | 1,346 | 24 |
Argan Inc. | 438 | 20 | |
United States Lime & Minerals Inc. | 85 | 18 | |
* | CompoSecure Inc. | 3,517 | 18 |
9,260 | |||
Real Estate (1.2%) | |||
Equity Commonwealth | 59,399 | 1,116 | |
Technology (21.3%) | |||
International Business Machines Corp. | 10,042 | 1,592 | |
Roper Technologies Inc. | 2,891 | 1,556 | |
* | CommVault Systems Inc. | 20,528 | 1,510 |
Apple Inc. | 6,568 | 1,248 | |
NetApp Inc. | 13,579 | 1,241 | |
Amdocs Ltd. | 13,840 | 1,159 | |
Texas Instruments Inc. | 7,513 | 1,147 | |
Dolby Laboratories Inc. Class A | 12,803 | 1,103 | |
* | Blackbaud Inc. | 12,208 | 919 |
Microsoft Corp. | 2,215 | 839 | |
Broadcom Inc. | 901 | 834 | |
* | Agilysys Inc. | 9,060 | 780 |
* | Alphabet Inc. Class A | 5,454 | 723 |
Hewlett Packard Enterprise Co. | 41,194 | 697 | |
* | Insight Enterprises Inc. | 4,425 | 670 |
* | Yelp Inc. | 14,213 | 621 |
* | Cirrus Logic Inc. | 7,683 | 583 |
* | Parsons Corp. | 6,102 | 380 |
Leidos Holdings Inc. | 3,336 | 358 |
Shares | Market Value• ($000) | ||
NVE Corp. | 4,479 | 321 | |
Analog Devices Inc. | 1,412 | 259 | |
* | NetScout Systems Inc. | 12,421 | 249 |
* | Meta Platforms Inc. Class A | 718 | 235 |
Immersion Corp. | 30,988 | 201 | |
* | Veeco Instruments Inc. | 6,527 | 186 |
* | N-Able Inc. | 15,202 | 181 |
Sapiens International Corp. NV | 5,350 | 138 | |
PC Connection Inc. | 1,297 | 77 | |
* | Alphabet Inc. Class C | 514 | 69 |
* | TrueCar Inc. | 12,780 | 36 |
19,912 | |||
Telecommunications (6.7%) | |||
T-Mobile US Inc. | 9,607 | 1,445 | |
Verizon Communications Inc. | 33,926 | 1,301 | |
InterDigital Inc. | 12,170 | 1,216 | |
Cisco Systems Inc. | 17,798 | 861 | |
* | IDT Corp. Class B | 24,096 | 707 |
Spok Holdings Inc. | 14,519 | 243 | |
Shenandoah Telecommunications Co. | 10,649 | 237 | |
ATN International Inc. | 4,470 | 136 | |
Iridium Communications Inc. | 2,848 | 109 | |
Motorola Solutions Inc. | 85 | 28 | |
6,283 | |||
Utilities (5.9%) | |||
Republic Services Inc. | 8,602 | 1,392 | |
Chesapeake Utilities Corp. | 9,238 | 883 | |
Duke Energy Corp. | 6,154 | 568 | |
Consolidated Edison Inc. | 6,006 | 541 | |
Waste Management Inc. | 3,007 | 514 | |
WEC Energy Group Inc. | 5,189 | 434 | |
MGE Energy Inc. | 5,374 | 396 | |
Northwest Natural Holding Co. | 9,642 | 353 | |
Northwestern Energy Group Inc. | 4,609 | 232 | |
Spire Inc. | 1,860 | 114 | |
DTE Energy Co. | 358 | 37 | |
CMS Energy Corp. | 527 | 30 | |
5,494 | |||
Total Common Stocks (Cost $87,467) | 92,869 | ||
Temporary Cash Investments (0.2%) | |||
Money Market Fund (0.2%) | |||
2,3 | Vanguard Market Liquidity Fund, 5.438% (Cost $187) | 1,875 | 188 |
Total Investments (99.6%) (Cost $87,654) | 93,057 | ||
Other Assets and Liabilities—Net (0.4%) | 336 | ||
Net Assets (100%) | 93,393 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $2,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Micro E-mini S&P 500 Index | December 2023 | 16 | 366 | 5 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $87,467) | 92,869 |
Affiliated Issuers (Cost $187) | 188 |
Total Investments in Securities | 93,057 |
Investment in Vanguard | 3 |
Cash Collateral Pledged—Futures Contracts | 14 |
Receivables for Investment Securities Sold | 94 |
Receivables for Accrued Income | 214 |
Receivables for Capital Shares Issued | 508 |
Variation Margin Receivable—Futures Contracts | 1 |
Total Assets | 93,891 |
Liabilities | |
Payables for Investment Securities Purchased | 491 |
Collateral for Securities on Loan | 2 |
Payables to Vanguard | 5 |
Total Liabilities | 498 |
Net Assets | 93,393 |
1 Includes $2,000 of securities on loan. | |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 98,229 |
Total Distributable Earnings (Loss) | (4,836) |
Net Assets | 93,393 |
Net Assets | |
Applicable to 920,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 93,393 |
Net Asset Value Per Share | $101.51 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends | 2,160 |
Interest1 | 22 |
Securities Lending—Net | 21 |
Total Income | 2,203 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | — |
Management and Administrative | 44 |
Marketing and Distribution | — |
Custodian Fees | 1 |
Auditing Fees | 28 |
Shareholders’ Reports | 25 |
Trustees’ Fees and Expenses | — |
Professional Services | 16 |
Total Expenses | 114 |
Expenses Paid Indirectly | (1) |
Net Expenses | 113 |
Net Investment Income | 2,090 |
Realized Net Gain (Loss) | |
Investment Securities Sold1,2 | 605 |
Futures Contracts | 34 |
Realized Net Gain (Loss) | 639 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities1 | (1,774) |
Futures Contracts | (3) |
Change in Unrealized Appreciation (Depreciation) | (1,777) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 952 |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $21,000, less than $1,000, less than $1,000, and $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes $3,789,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 2,090 | 1,311 |
Realized Net Gain (Loss) | 639 | 2,030 |
Change in Unrealized Appreciation (Depreciation) | (1,777) | (43) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 952 | 3,298 |
Distributions | ||
Total Distributions | (2,061) | (1,062) |
Capital Share Transactions | ||
Issued | 31,343 | 42,084 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (17,629) | (10,661) |
Net Increase (Decrease) from Capital Share Transactions | 13,714 | 31,423 |
Total Increase (Decrease) | 12,605 | 33,659 |
Net Assets | ||
Beginning of Period | 80,788 | 47,129 |
End of Period | 93,393 | 80,788 |
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $102.91 | $100.28 | $87.08 | $91.10 | $81.69 |
Investment Operations | |||||
Net Investment Income1 | 2.373 | 2.160 | 1.374 | 1.779 | 2.632 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.354) | 2.231 | 13.497 | (3.776) | 8.996 |
Total from Investment Operations | 1.019 | 4.391 | 14.871 | (1.997) | 11.628 |
Distributions | |||||
Dividends from Net Investment Income | (2.419) | (1.761) | (1.671) | (2.023) | (2.218) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (2.419) | (1.761) | (1.671) | (2.023) | (2.218) |
Net Asset Value, End of Period | $101.51 | $102.91 | $100.28 | $87.08 | $91.10 |
Total Return | 1.13% | 4.46% | 17.22% | -1.99% | 14.58% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $93 | $81 | $47 | $57 | $91 |
Ratio of Total Expenses to Average Net Assets | 0.13%2 | 0.13% | 0.13% | 0.13% | 0.13% |
Ratio of Net Investment Income to Average Net Assets | 2.40% | 2.18% | 1.43% | 2.14% | 3.05% |
Portfolio Turnover Rate | 26%3 | 32%3 | 46%3 | 83%3 | 23% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.13%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended November 30, 2023, custodian fee offset arrangements reduced the fund’s expenses by $1,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These |
Amount ($000) | |
Paid-in Capital | 3,761 |
Total Distributable Earnings (Loss) | (3,761) |
Amount ($000) | |
Undistributed Ordinary Income | 408 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 5,403 |
Capital Loss Carryforwards | (10,647) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (4,836) |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 2,061 | 1,062 |
Long-Term Capital Gains | — | — |
Total | 2,061 | 1,062 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 87,653 |
Gross Unrealized Appreciation | 9,740 |
Gross Unrealized Depreciation | (4,337) |
Net Unrealized Appreciation (Depreciation) | 5,403 |
F. | During the year ended November 30, 2023, the fund purchased $53,740,000 of investment securities and sold $40,012,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $17,558,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital shares issued and redeemed were: |
Year Ended November 30, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 315 | 425 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (180) | (110) |
Net Increase (Decrease) in Shares Outstanding | 135 | 315 |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Since Inception (2/13/2018) | Final Value of a $10,000 Investment | ||
U.S. Momentum Factor ETF Net Asset Value | -0.06% | 10.60% | 9.58% | $16,991 | |
U.S. Momentum Factor ETF Market Price | 0.02 | 10.60 | 9.59 | 17,001 | |
Russell 3000 Index | 12.61 | 11.77 | 11.02 | 18,324 |
One Year | Five Years | Since Inception (2/13/2018) | |
U.S. Momentum Factor ETF Market Price | 0.02% | 65.53% | 70.01% |
U.S. Momentum Factor ETF Net Asset Value | -0.06 | 65.49 | 69.91 |
Russell 3000 Index | 12.61 | 74.44 | 83.24 |
Basic Materials | 2.0% |
Consumer Discretionary | 18.7 |
Consumer Staples | 2.2 |
Energy | 5.8 |
Financials | 7.2 |
Health Care | 10.0 |
Industrials | 23.5 |
Real Estate | 0.8 |
Technology | 27.5 |
Telecommunications | 2.0 |
Utilities | 0.3 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Basic Materials (2.0%) | |||
Linde plc | 2,134 | 883 | |
Reliance Steel & Aluminum Co. | 2,617 | 720 | |
Boise Cascade Co. | 5,880 | 643 | |
Southern Copper Corp. | 7,945 | 572 | |
NewMarket Corp. | 1,040 | 552 | |
Carpenter Technology Corp. | 5,650 | 400 | |
Mueller Industries Inc. | 9,185 | 381 | |
Orion SA | 13,512 | 322 | |
Olympic Steel Inc. | 5,643 | 319 | |
* | Uranium Energy Corp. | 48,115 | 314 |
Hawkins Inc. | 4,908 | 302 | |
Worthington Industries Inc. | 3,507 | 251 | |
Materion Corp. | 1,987 | 225 | |
Koppers Holdings Inc. | 4,421 | 200 | |
Haynes International Inc. | 3,438 | 169 | |
* | Ivanhoe Electric Inc. | 13,312 | 151 |
* | Ecovyst Inc. | 12,647 | 120 |
UFP Industries Inc. | 897 | 98 | |
* | Energy Fuels Inc. | 11,360 | 90 |
6,712 | |||
Consumer Discretionary (18.6%) | |||
* | Uber Technologies Inc. | 85,046 | 4,795 |
* | Netflix Inc. | 6,924 | 3,282 |
* | Booking Holdings Inc. | 942 | 2,944 |
* | DraftKings Inc. Class A | 49,930 | 1,909 |
TJX Cos. Inc. | 20,607 | 1,816 | |
* | Chipotle Mexican Grill Inc. | 817 | 1,799 |
Lennar Corp. Class A | 13,350 | 1,708 | |
PulteGroup Inc. | 18,485 | 1,634 | |
* | Deckers Outdoor Corp. | 2,454 | 1,629 |
* | O'Reilly Automotive Inc. | 1,604 | 1,576 |
* | NVR Inc. | 238 | 1,465 |
DR Horton Inc. | 10,820 | 1,381 | |
* | Amazon.com Inc. | 9,133 | 1,334 |
* | Spotify Technology SA | 7,122 | 1,318 |
Tempur Sealy International Inc. | 31,205 | 1,258 | |
* | Royal Caribbean Cruises Ltd. | 10,375 | 1,115 |
* | Skechers USA Inc. Class A | 18,828 | 1,109 |
BorgWarner Inc. (XNYS) | 27,825 | 937 | |
* | M/I Homes Inc. | 8,305 | 876 |
* | Wayfair Inc. Class A | 14,707 | 821 |
* | Copart Inc. | 15,885 | 798 |
* | Light & Wonder Inc. | 8,541 | 755 |
Shares | Market Value• ($000) | ||
* | Abercrombie & Fitch Co. Class A | 9,744 | 740 |
PVH Corp. | 7,467 | 730 | |
Toll Brothers Inc. | 8,423 | 723 | |
* | SkyWest Inc. | 15,011 | 710 |
* | elf Beauty Inc. | 5,808 | 686 |
* | Carnival Corp. | 44,338 | 668 |
* | Taylor Morrison Home Corp. | 14,644 | 660 |
Rush Enterprises Inc. Class A | 16,305 | 647 | |
* | ACV Auctions Inc. Class A | 41,046 | 642 |
Meritage Homes Corp. | 4,499 | 636 | |
* | Coty Inc. Class A | 51,370 | 586 |
* | Asbury Automotive Group Inc. | 2,757 | 579 |
* | Green Brick Partners Inc. | 12,063 | 572 |
Ross Stores Inc. | 4,229 | 551 | |
Winmark Corp. | 1,271 | 547 | |
Inter Parfums Inc. | 4,280 | 536 | |
Wingstop Inc. | 2,175 | 523 | |
* | Trade Desk Inc. Class A | 6,601 | 465 |
* | Duolingo Inc. | 2,160 | 459 |
Hyatt Hotels Corp. Class A | 3,855 | 442 | |
* | Cars.com Inc. | 23,004 | 428 |
* | Floor & Decor Holdings Inc. Class A | 4,635 | 425 |
TKO Group Holdings Inc. | 5,480 | 424 | |
* | Sphere Entertainment Co. | 12,320 | 422 |
Wynn Resorts Ltd. | 4,966 | 419 | |
* | Arlo Technologies Inc. | 44,455 | 404 |
* | Carvana Co. | 12,766 | 400 |
* | Instructure Holdings Inc. | 15,292 | 400 |
* | Beazer Homes USA Inc. | 14,957 | 394 |
* | Dream Finders Homes Inc. Class A | 15,741 | 383 |
International Game Technology plc | 14,118 | 377 | |
Steelcase Inc. Class A | 29,957 | 369 | |
* | Cinemark Holdings Inc. | 25,656 | 366 |
* | Hovnanian Enterprises Inc. Class A | 3,886 | 351 |
* | Integral Ad Science Holding Corp. | 23,899 | 349 |
* | U-Haul Holding Co. (XNYS) | 6,116 | 346 |
* | WW International Inc. | 46,032 | 332 |
* | Life Time Group Holdings Inc. | 21,698 | 329 |
Dillard's Inc. Class A | 916 | 318 | |
* | Cooper-Standard Holdings Inc. | 17,075 | 303 |
* | Coursera Inc. | 14,960 | 295 |
* | PROG Holdings Inc. | 10,734 | 293 |
Shares | Market Value• ($000) | ||
* | Skyline Champion Corp. | 4,542 | 273 |
* | PowerSchool Holdings Inc. Class A | 11,501 | 268 |
* | Cardlytics Inc. | 31,059 | 247 |
Bloomin' Brands Inc. | 10,122 | 236 | |
* | Tri Pointe Homes Inc. | 7,823 | 228 |
Lennar Corp. Class B | 1,921 | 220 | |
Penske Automotive Group Inc. | 1,468 | 219 | |
Build-A-Bear Workshop Inc. | 8,648 | 211 | |
* | Nerdy Inc. | 73,367 | 191 |
* | XPEL Inc. | 4,108 | 188 |
Alta Equipment Group Inc. | 18,071 | 172 | |
* | Grand Canyon Education Inc. | 1,246 | 170 |
* | Ollie's Bargain Outlet Holdings Inc. | 2,303 | 169 |
Century Communities Inc. | 2,263 | 163 | |
* | OneSpaWorld Holdings Ltd. | 13,515 | 163 |
Upbound Group Inc. | 5,510 | 160 | |
* | Madison Square Garden Sports Corp. | 892 | 151 |
HNI Corp. | 3,683 | 144 | |
* | Holley Inc. | 34,050 | 141 |
* | Solo Brands Inc. Class A | 26,282 | 137 |
* | Cavco Industries Inc. | 475 | 134 |
Laureate Education Inc. | 10,142 | 133 | |
Perdoceo Education Corp. | 7,654 | 133 | |
* | Adtalem Global Education Inc. | 2,323 | 132 |
* | AutoNation Inc. | 937 | 127 |
Haverty Furniture Cos. Inc. | 3,596 | 113 | |
Williams-Sonoma Inc. | 585 | 110 | |
* | Red Robin Gourmet Burgers Inc. | 12,355 | 109 |
* | Chuy's Holdings Inc. | 3,061 | 108 |
* | Kura Sushi USA Inc. Class A | 1,691 | 106 |
Lithia Motors Inc. | 381 | 102 | |
Red Rock Resorts Inc. Class A | 2,242 | 100 | |
New York Times Co. Class A | 1,586 | 75 | |
Aaron's Co. Inc. | 8,255 | 73 | |
A-Mark Precious Metals Inc. | 2,434 | 70 | |
* | Atlanta Braves Holdings Inc. Class A | 1,724 | 70 |
* | Gannett Co. Inc. | 37,522 | 69 |
* | Traeger Inc. | 21,935 | 49 |
* | MasterCraft Boat Holdings Inc. | 937 | 19 |
62,171 | |||
Consumer Staples (2.2%) | |||
McKesson Corp. | 3,264 | 1,536 | |
* | BellRing Brands Inc. | 23,867 | 1,263 |
Mondelez International Inc. Class A | 15,611 | 1,109 | |
* | Celsius Holdings Inc. | 19,299 | 955 |
* | Performance Food Group Co. | 7,248 | 471 |
Cencora Inc. | 2,217 | 451 | |
* | Vita Coco Co. Inc. | 15,529 | 436 |
* | Sprouts Farmers Market Inc. | 7,697 | 332 |
Spectrum Brands Holdings Inc. | 3,857 | 267 | |
Andersons Inc. | 4,366 | 218 | |
John B Sanfilippo & Son Inc. | 1,553 | 143 | |
Vector Group Ltd. | 8,562 | 92 | |
Coca-Cola Consolidated Inc. | 114 | 84 | |
7,357 |
Shares | Market Value• ($000) | ||
Energy (5.8%) | |||
Marathon Petroleum Corp. | 20,778 | 3,100 | |
Phillips 66 | 12,037 | 1,552 | |
TechnipFMC plc | 62,347 | 1,292 | |
Archrock Inc. | 70,640 | 1,024 | |
Schlumberger NV | 18,732 | 975 | |
* | Helix Energy Solutions Group Inc. | 100,645 | 938 |
* | Weatherford International plc | 10,267 | 931 |
Warrior Met Coal Inc. | 11,778 | 659 | |
* | Tidewater Inc. | 10,642 | 639 |
* | Newpark Resources Inc. | 90,562 | 629 |
* | Gulfport Energy Corp. | 4,330 | 593 |
Noble Corp. plc | 12,297 | 567 | |
PBF Energy Inc. Class A | 11,856 | 526 | |
* | Par Pacific Holdings Inc. | 14,554 | 499 |
* | Oceaneering International Inc. | 23,584 | 487 |
ChampionX Corp. | 15,929 | 467 | |
CONSOL Energy Inc. | 3,552 | 379 | |
* | Oil States International Inc. | 52,184 | 360 |
Equitrans Midstream Corp. | 36,539 | 343 | |
* | Expro Group Holdings NV | 20,158 | 314 |
* | Fluence Energy Inc. | 12,364 | 310 |
Alpha Metallurgical Resources Inc. | 1,046 | 294 | |
Arcosa Inc. | 3,485 | 259 | |
Civitas Resources Inc. | 3,644 | 250 | |
Ramaco Resources Inc. Class A | 13,301 | 222 | |
* | TETRA Technologies Inc. | 45,147 | 213 |
* | Seadrill Ltd. | 4,561 | 202 |
SunCoke Energy Inc. | 20,095 | 187 | |
* | Centrus Energy Corp. Class A | 3,459 | 173 |
Permian resources Corp. | 12,654 | 166 | |
* | Borr Drilling Ltd. | 23,651 | 149 |
* | REX American Resources Corp. | 2,764 | 136 |
Core Laboratories Inc. | 7,574 | 134 | |
* | Hallador Energy Co. | 9,611 | 121 |
Arch Resources Inc. | 590 | 98 | |
Evolution Petroleum Corp. | 9,923 | 59 | |
19,247 | |||
Financials (7.1%) | |||
JPMorgan Chase & Co. | 15,586 | 2,433 | |
Arthur J Gallagher & Co. | 8,118 | 2,021 | |
First Citizens BancShares Inc. Class A | 889 | 1,305 | |
Unum Group | 25,242 | 1,085 | |
Kinsale Capital Group Inc. | 2,406 | 842 | |
Ares Management Corp. Class A | 7,269 | 816 | |
Apollo Global Management Inc. | 8,797 | 809 | |
* | Arch Capital Group Ltd. | 9,558 | 800 |
* | Oscar Health Inc. Class A | 84,660 | 720 |
XP Inc. Class A | 30,470 | 710 | |
* | NU Holdings Ltd. Class A | 86,387 | 703 |
* | SoFi Technologies Inc. | 87,922 | 641 |
RenaissanceRe Holdings Ltd. | 2,956 | 634 | |
Primerica Inc. | 2,832 | 593 | |
Federal Agricultural Mortgage Corp. Class C | 3,426 | 568 | |
MGIC Investment Corp. | 29,657 | 522 | |
* | Genworth Financial Inc. Class A | 87,946 | 518 |
* | Riot Platforms Inc. | 41,286 | 518 |
* | Ryan Specialty Holdings Inc. | 11,243 | 516 |
Shares | Market Value• ($000) | ||
OneMain Holdings Inc. | 12,121 | 513 | |
Interactive Brokers Group Inc. Class A | 6,196 | 482 | |
* | Goosehead Insurance Inc. Class A | 6,434 | 472 |
New York Community Bancorp Inc. | 48,711 | 458 | |
* | SiriusPoint Ltd. | 41,927 | 448 |
*,1 | Upstart Holdings Inc. | 15,330 | 410 |
1 | UWM Holdings Corp. | 74,584 | 406 |
* | Bancorp Inc. | 9,839 | 384 |
City Holding Co. | 3,859 | 372 | |
Aflac Inc. | 4,455 | 368 | |
Radian Group Inc. | 12,966 | 333 | |
HCI Group Inc. | 3,466 | 294 | |
Nelnet Inc. Class A | 3,346 | 281 | |
Pathward Financial Inc. | 5,190 | 257 | |
Evercore Inc. Class A | 1,473 | 217 | |
* | eHealth Inc. | 25,449 | 189 |
RLI Corp. | 1,216 | 165 | |
* | Assetmark Financial Holdings Inc. | 6,179 | 158 |
Brown & Brown Inc. | 1,867 | 140 | |
* | World Acceptance Corp. | 1,118 | 125 |
Old Republic International Corp. | 3,964 | 116 | |
* | Mr Cooper Group Inc. | 1,833 | 111 |
Universal Insurance Holdings Inc. | 6,358 | 108 | |
Perella Weinberg Partners | 9,191 | 108 | |
* | Enova International Inc. | 2,434 | 100 |
23,769 | |||
Health Care (9.9%) | |||
Eli Lilly & Co. | 4,972 | 2,939 | |
* | Boston Scientific Corp. | 36,710 | 2,052 |
* | Intuitive Surgical Inc. | 5,450 | 1,694 |
* | Vertex Pharmaceuticals Inc. | 2,405 | 853 |
Cardinal Health Inc. | 7,521 | 805 | |
* | Medpace Holdings Inc. | 2,715 | 735 |
* | Regeneron Pharmaceuticals Inc. | 756 | 623 |
* | Arcellx Inc. | 11,866 | 623 |
* | Cymabay Therapeutics Inc. | 31,542 | 603 |
* | Exact Sciences Corp. | 9,322 | 597 |
* | Nuvalent Inc. Class A | 8,814 | 576 |
* | Cabaletta Bio Inc. | 34,336 | 551 |
* | Amphastar Pharmaceuticals Inc. | 9,571 | 539 |
* | Biohaven Ltd. | 15,195 | 506 |
* | Ideaya Biosciences Inc. | 15,928 | 501 |
* | Bridgebio Pharma Inc. | 16,741 | 481 |
* | Arcturus Therapeutics Holdings Inc. | 20,110 | 481 |
* | Disc Medicine Inc. | 8,419 | 465 |
* | Crinetics Pharmaceuticals Inc. | 14,228 | 452 |
* | ADMA Biologics Inc. | 122,063 | 452 |
* | Tenet Healthcare Corp. | 6,536 | 451 |
* | RxSight Inc. | 14,535 | 438 |
* | Quanterix Corp. | 18,109 | 434 |
* | MiMedx Group Inc. | 54,975 | 427 |
* | Ardelyx Inc. | 93,845 | 423 |
* | UFP Technologies Inc. | 2,400 | 399 |
* | Biomea Fusion Inc. | 25,808 | 389 |
* | Vaxcyte Inc. | 7,395 | 383 |
* | Krystal Biotech Inc. | 3,574 | 373 |
* | Insmed Inc. | 14,333 | 359 |
* | NeoGenomics Inc. | 19,337 | 351 |
Shares | Market Value• ($000) | ||
* | Aurinia Pharmaceuticals Inc. | 40,485 | 350 |
* | Immunovant Inc. | 8,855 | 346 |
* | REVOLUTION Medicines Inc. | 14,729 | 344 |
* | Mirum Pharmaceuticals Inc. | 10,720 | 344 |
* | 10X Genomics Inc. Class A | 7,781 | 339 |
* | Roivant Sciences Ltd. | 35,181 | 336 |
* | Exelixis Inc. | 15,349 | 335 |
* | Amneal Pharmaceuticals Inc. | 77,064 | 332 |
* | Amicus Therapeutics Inc. | 28,974 | 319 |
* | Protagonist Therapeutics Inc. | 17,469 | 318 |
* | Viking Therapeutics Inc. | 25,328 | 310 |
* | 89bio Inc. | 37,680 | 303 |
* | ANI Pharmaceuticals Inc. | 5,975 | 298 |
* | DaVita Inc. | 2,865 | 291 |
* | PetIQ Inc. | 16,091 | 280 |
* | Hims & Hers Health Inc. | 31,054 | 276 |
* | EyePoint Pharmaceuticals Inc. | 43,078 | 269 |
* | RadNet Inc. | 8,070 | 268 |
* | SI-BONE Inc. | 13,184 | 250 |
* | Tango Therapeutics Inc. | 31,995 | 243 |
* | Alphatec Holdings Inc. | 19,598 | 233 |
* | Vera Therapeutics Inc. | 17,199 | 233 |
* | Haemonetics Corp. | 2,872 | 232 |
* | Align Technology Inc. | 1,071 | 229 |
*,1 | PDS Biotechnology Corp. | 43,145 | 227 |
* | Penumbra Inc. | 1,017 | 226 |
* | Tactile Systems Technology Inc. | 16,810 | 224 |
* | Vericel Corp. | 6,150 | 219 |
* | Madrigal Pharmaceuticals Inc. | 1,055 | 214 |
* | Liquidia Corp. | 29,281 | 210 |
* | Inozyme Pharma Inc. | 53,040 | 204 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 12,347 | 200 |
* | Marinus Pharmaceuticals Inc. | 29,120 | 196 |
*,1 | UroGen Pharma Ltd. | 14,756 | 195 |
* | LifeStance Health Group Inc. | 28,003 | 192 |
* | ACADIA Pharmaceuticals Inc. | 8,544 | 190 |
* | Voyager Therapeutics Inc. | 25,032 | 182 |
* | Axsome Therapeutics Inc. | 2,596 | 175 |
* | Collegium Pharmaceutical Inc. | 6,715 | 172 |
* | TG Therapeutics Inc. | 13,167 | 169 |
Encompass Health Corp. | 2,428 | 158 | |
* | Summit Therapeutics Inc. (XNMS) | 76,952 | 156 |
* | Harrow Inc. | 16,154 | 149 |
Stryker Corp. | 474 | 140 | |
* | Phathom Pharmaceuticals Inc. | 19,548 | 137 |
* | Theravance Biopharma Inc. | 12,696 | 133 |
* | Ocular Therapeutix Inc. | 51,856 | 129 |
* | Brookdale Senior Living Inc. | 21,892 | 116 |
* | Aldeyra Therapeutics Inc. | 41,019 | 114 |
* | KalVista Pharmaceuticals Inc. | 12,999 | 110 |
* | scPharmaceuticals Inc. | 18,971 | 103 |
* | X4 Pharmaceuticals Inc. | 127,934 | 100 |
* | HealthEquity Inc. | 1,404 | 94 |
* | OraSure Technologies Inc. | 12,815 | 94 |
* | Prestige Consumer Healthcare Inc. | 1,487 | 85 |
* | 4D Molecular Therapeutics Inc. | 4,177 | 53 |
* | Assertio Holdings Inc. | 11,023 | 11 |
33,110 |
Shares | Market Value• ($000) | ||
Industrials (23.4%) | |||
General Electric Co. | 40,734 | 4,961 | |
Eaton Corp. plc | 16,257 | 3,702 | |
Parker-Hannifin Corp. | 6,361 | 2,755 | |
FedEx Corp. | 10,495 | 2,716 | |
Trane Technologies plc | 9,924 | 2,237 | |
Caterpillar Inc. | 6,608 | 1,657 | |
EMCOR Group Inc. | 7,471 | 1,588 | |
TransDigm Group Inc. | 1,552 | 1,494 | |
Allison Transmission Holdings Inc. | 26,587 | 1,422 | |
Simpson Manufacturing Co. Inc. | 8,235 | 1,375 | |
Comfort Systems USA Inc. | 6,254 | 1,211 | |
* | Saia Inc. | 3,077 | 1,201 |
* | Fair Isaac Corp. | 1,058 | 1,151 |
* | XPO Inc. | 13,277 | 1,146 |
Crane NXT Co. | 21,474 | 1,105 | |
* | Builders FirstSource Inc. | 7,743 | 1,038 |
United Rentals Inc. | 2,164 | 1,030 | |
PACCAR Inc. | 10,776 | 989 | |
Badger Meter Inc. | 6,112 | 901 | |
Dorian LPG Ltd. | 21,138 | 895 | |
Griffon Corp. | 19,223 | 894 | |
WW Grainger Inc. | 1,109 | 872 | |
* | Boeing Co. | 3,643 | 844 |
Applied Industrial Technologies Inc. | 4,866 | 779 | |
* | API Group Corp. | 24,687 | 749 |
Carrier Global Corp. | 14,120 | 734 | |
* | Axon Enterprise Inc. | 3,190 | 733 |
* | Huron Consulting Group Inc. | 7,040 | 733 |
Owens Corning | 5,239 | 710 | |
* | Atkore Inc. | 5,126 | 666 |
* | TopBuild Corp. | 2,215 | 655 |
* | Trex Co. Inc. | 9,291 | 653 |
Eagle Materials Inc. | 3,559 | 644 | |
nVent Electric plc | 12,036 | 641 | |
* | ATI Inc. | 14,159 | 622 |
Hubbell Inc. | 2,057 | 617 | |
Vontier Corp. | 18,184 | 613 | |
Teekay Tankers Ltd. Class A | 12,255 | 609 | |
Curtiss-Wright Corp. | 2,803 | 600 | |
International Seaways Inc. | 13,152 | 600 | |
EnPro Industries Inc. | 4,532 | 582 | |
Terex Corp. | 11,646 | 576 | |
*,1 | Archer Aviation Inc. Class A | 96,334 | 576 |
Lennox International Inc. | 1,405 | 571 | |
MSA Safety Inc. | 3,185 | 555 | |
* | Fiserv Inc. | 3,924 | 512 |
Schneider National Inc. Class B | 22,142 | 510 | |
Nordic American Tankers Ltd. | 130,225 | 505 | |
FTAI Aviation Ltd. | 12,196 | 503 | |
* | Limbach Holdings Inc. | 13,041 | 497 |
Booz Allen Hamilton Holding Corp. | 3,937 | 493 | |
* | CBIZ Inc. | 8,508 | 493 |
* | Sterling Infrastructure Inc. | 7,653 | 486 |
* | Blue Bird Corp. | 25,318 | 483 |
* | Remitly Global Inc. | 22,382 | 482 |
Powell Industries Inc. | 5,721 | 476 | |
GATX Corp. | 4,362 | 475 | |
* | Cimpress plc | 6,686 | 471 |
Woodward Inc. | 3,442 | 465 | |
Hyster-Yale Materials Handling Inc. | 9,588 | 457 |
Shares | Market Value• ($000) | ||
Greenbrier Cos. Inc. | 11,539 | 435 | |
Watsco Inc. | 1,138 | 435 | |
AAON Inc. | 6,942 | 435 | |
H&E Equipment Services Inc. | 9,802 | 434 | |
* | Evolv Technologies Holdings Inc. | 106,927 | 428 |
* | Teekay Corp. | 60,990 | 421 |
* | Modine Manufacturing Co. | 8,454 | 416 |
Primoris Services Corp. | 13,623 | 414 | |
* | SPX Technologies Inc. | 4,770 | 407 |
Covenant Logistics Group Inc. | 9,347 | 398 | |
Pentair plc | 6,163 | 398 | |
ICF International Inc. | 2,798 | 392 | |
* | StoneCo. Ltd. Class A | 25,106 | 392 |
* | Affirm Holdings Inc. | 11,280 | 388 |
* | Thermon Group Holdings Inc. | 12,821 | 387 |
Standex International Corp. | 2,863 | 383 | |
* | American Woodmark Corp. | 5,213 | 377 |
Quanta Services Inc. | 1,991 | 375 | |
* | Aurora Innovation Inc. | 165,894 | 363 |
McGrath RentCorp. | 3,497 | 356 | |
Watts Water Technologies Inc. Class A | 1,833 | 353 | |
* | FleetCor Technologies Inc. | 1,420 | 341 |
Encore Wire Corp. | 1,812 | 334 | |
* | Joby Aviation Inc. | 56,016 | 334 |
* | JELD-WEN Holding Inc. | 20,839 | 333 |
* | PGT Innovations Inc. | 10,345 | 333 |
* | AAR Corp. | 4,739 | 328 |
Belden Inc. | 4,870 | 324 | |
WESCO International Inc. | 2,019 | 315 | |
* | GMS Inc. | 4,439 | 300 |
* | Manitowoc Co. Inc. | 20,467 | 293 |
Wabash National Corp. | 12,458 | 273 | |
Flex LNG Ltd. | 9,387 | 272 | |
* | Construction Partners Inc. Class A | 6,283 | 264 |
A O Smith Corp. | 3,452 | 260 | |
CSW Industrials Inc. | 1,459 | 259 | |
CRA International Inc. | 2,627 | 249 | |
* | Leonardo DRS Inc. | 13,073 | 241 |
Federal Signal Corp. | 3,468 | 239 | |
* | TriNet Group Inc. | 2,063 | 239 |
* | Kratos Defense & Security Solutions Inc. | 12,449 | 237 |
* | Flywire Corp. | 9,711 | 226 |
* | AZEK Co. Inc. | 6,190 | 213 |
Moog Inc. Class A | 1,463 | 205 | |
* | Gibraltar Industries Inc. | 2,976 | 200 |
*,1 | Eos Energy Enterprises Inc. | 180,638 | 199 |
Esab Corp. | 2,577 | 199 | |
* | AeroVironment Inc. | 1,399 | 193 |
* | Shift4 Payments Inc. Class A | 2,842 | 187 |
* | MYR Group Inc. | 1,474 | 183 |
Old Dominion Freight Line Inc. | 414 | 161 | |
* | V2X Inc. | 3,751 | 159 |
* | Mirion Technologies Inc. | 17,632 | 157 |
Maximus Inc. | 1,817 | 152 | |
Installed Building Products Inc. | 1,001 | 151 | |
* | AvidXchange Holdings Inc. | 13,927 | 149 |
Scorpio Tankers Inc. | 2,645 | 145 | |
EnerSys | 1,557 | 138 | |
LSI Industries Inc. | 10,367 | 136 | |
* | Hudson Technologies Inc. | 10,892 | 135 |
Tennant Co. | 1,489 | 127 |
Shares | Market Value• ($000) | ||
Enerpac Tool Group Corp. | 4,525 | 124 | |
Mueller Water Products Inc. Class A | 9,243 | 123 | |
* | CECO Environmental Corp. | 6,327 | 122 |
Patrick Industries Inc. | 1,426 | 117 | |
* | DXP Enterprises Inc. | 3,764 | 110 |
AECOM | 1,147 | 102 | |
* | Legalzoom.com Inc. | 8,748 | 101 |
* | GXO Logistics Inc. | 1,784 | 100 |
* | Astronics Corp. | 6,646 | 99 |
VSE Corp. | 1,619 | 98 | |
Columbus McKinnon Corp. | 2,747 | 96 | |
Verisk Analytics Inc. | 392 | 95 | |
Matson Inc. | 982 | 94 | |
Ardmore Shipping Corp. | 6,494 | 88 | |
ESCO Technologies Inc. | 827 | 87 | |
ArcBest Corp. | 714 | 85 | |
* | Vicor Corp. | 2,290 | 84 |
Preformed Line Products Co. | 586 | 73 | |
* | OSI Systems Inc. | 568 | 70 |
DHT Holdings Inc. | 5,994 | 60 | |
78,208 | |||
Real Estate (0.8%) | |||
* | Forestar Group Inc. | 16,980 | 518 |
* | Zillow Group Inc. Class C | 12,376 | 507 |
* | Opendoor Technologies Inc. | 141,077 | 425 |
* | Redfin Corp. | 54,637 | 381 |
St. Joe Co. | 6,680 | 343 | |
eXp World Holdings Inc. | 14,968 | 181 | |
DigitalBridge Group Inc. | 8,042 | 139 | |
2,494 | |||
Technology (27.4%) | |||
* | Cadence Design Systems Inc. | 17,169 | 4,692 |
* | Palo Alto Networks Inc. | 15,269 | 4,506 |
* | Meta Platforms Inc. Class A | 13,148 | 4,301 |
NVIDIA Corp. | 8,822 | 4,126 | |
Broadcom Inc. | 3,978 | 3,683 | |
* | Synopsys Inc. | 6,736 | 3,659 |
Oracle Corp. | 30,865 | 3,587 | |
* | Advanced Micro Devices Inc. | 29,373 | 3,559 |
Lam Research Corp. | 4,522 | 3,237 | |
Applied Materials Inc. | 19,888 | 2,979 | |
* | Adobe Inc. | 4,695 | 2,869 |
* | Alphabet Inc. Class C | 18,993 | 2,544 |
* | ServiceNow Inc. | 3,460 | 2,373 |
* | Salesforce Inc. | 8,605 | 2,168 |
KLA Corp. | 3,789 | 2,064 | |
* | Workday Inc. Class A | 7,253 | 1,964 |
Jabil Inc. | 15,679 | 1,808 | |
Intel Corp. | 39,118 | 1,749 | |
* | Alphabet Inc. Class A | 12,633 | 1,674 |
Microsoft Corp. | 4,167 | 1,579 | |
Marvell Technology Inc. | 27,850 | 1,552 | |
* | Palantir Technologies Inc. Class A | 58,290 | 1,169 |
* | Nutanix Inc. Class A | 25,094 | 1,081 |
* | Rambus Inc. | 15,931 | 1,078 |
* | HubSpot Inc. | 1,952 | 964 |
* | Insight Enterprises Inc. | 5,760 | 872 |
* | Axcelis Technologies Inc. | 6,641 | 825 |
* | Onto Innovation Inc. | 5,662 | 798 |
* | Workiva Inc. | 7,795 | 750 |
* | ON Semiconductor Corp. | 10,499 | 749 |
* | MongoDB Inc. | 1,793 | 745 |
* | SPS Commerce Inc. | 3,976 | 685 |
* | AppLovin Corp. Class A | 18,155 | 680 |
Shares | Market Value• ($000) | ||
*,1 | IonQ Inc. | 55,179 | 675 |
* | MicroStrategy Inc. Class A | 1,275 | 635 |
*,1 | C3.ai Inc. Class A | 21,333 | 621 |
* | Fastly Inc. Class A | 31,687 | 526 |
* | Navitas Semiconductor Corp. | 75,519 | 524 |
* | Weave Communications Inc. | 54,225 | 512 |
* | Vertiv Holdings Co. Class A | 11,677 | 510 |
* | Cleanspark Inc. | 76,990 | 480 |
* | Fabrinet | 2,915 | 472 |
*,1 | Bit Digital Inc. | 177,739 | 459 |
* | Kyndryl Holdings Inc. | 25,478 | 459 |
* | Freshworks Inc. Class A | 22,686 | 454 |
* | Confluent Inc. Class A | 21,154 | 449 |
* | Elastic NV | 5,525 | 444 |
* | Lattice Semiconductor Corp. | 7,177 | 420 |
* | Manhattan Associates Inc. | 1,828 | 408 |
*,1 | Cipher Mining Inc. | 146,186 | 405 |
* | Intapp Inc. | 10,742 | 403 |
* | Gartner Inc. | 921 | 401 |
* | AvePoint Inc. | 47,504 | 389 |
* | Applied Digital Corp. | 82,733 | 386 |
* | Braze Inc. Class A | 6,984 | 384 |
* | Schrodinger Inc. | 12,010 | 373 |
* | DoorDash Inc. Class A | 3,940 | 370 |
CTS Corp. | 9,250 | 358 | |
Adeia Inc. | 38,432 | 353 | |
* | PDF Solutions Inc. | 11,465 | 344 |
* | Parsons Corp. | 5,515 | 344 |
* | Procore Technologies Inc. | 5,828 | 344 |
* | ANSYS Inc. | 1,166 | 342 |
* | Yext Inc. | 49,338 | 327 |
* | Aehr Test Systems | 14,200 | 326 |
* | PTC Inc. | 2,045 | 322 |
Bentley Systems Inc. Class B | 6,184 | 322 | |
* | Appfolio Inc. Class A | 1,692 | 320 |
* | Innodata Inc. | 46,661 | 315 |
* | PROS Holdings Inc. | 7,767 | 284 |
* | Terawulf Inc. | 243,733 | 283 |
Intuit Inc. | 483 | 276 | |
* | Sprinklr Inc. Class A | 17,543 | 275 |
* | Digimarc Corp. | 8,071 | 270 |
* | Agilysys Inc. | 3,036 | 261 |
* | ACM Research Inc. Class A | 14,642 | 244 |
Monolithic Power Systems Inc. | 436 | 239 | |
* | Guidewire Software Inc. | 2,383 | 238 |
* | LiveRamp Holdings Inc. | 6,370 | 211 |
* | Altair Engineering Inc. Class A | 2,778 | 201 |
* | Squarespace Inc. Class A | 7,085 | 199 |
* | PAR Technology Corp. | 4,789 | 176 |
* | Dynatrace Inc. | 3,069 | 164 |
* | DoubleVerify Holdings Inc. | 4,749 | 158 |
* | Credo Technology Group Holding Ltd. | 8,322 | 149 |
* | Allegro MicroSystems Inc. | 5,295 | 144 |
* | Cohu Inc. | 4,075 | 129 |
* | Alkami Technology Inc. | 5,614 | 128 |
* | N-Able Inc. | 10,569 | 126 |
* | Magnite Inc. | 13,796 | 111 |
* | Okta Inc. | 1,609 | 108 |
* | Western Digital Corp. | 2,120 | 102 |
* | SMART Global Holdings Inc. | 5,971 | 100 |
Sapiens International Corp. NV | 3,831 | 99 | |
*,1 | BigBear.ai Holdings Inc. | 56,872 | 97 |
* | CACI International Inc. Class A | 288 | 92 |
Shares | Market Value• ($000) | ||
* | Pinterest Inc. Class A | 2,639 | 90 |
* | Eventbrite Inc. Class A | 10,811 | 76 |
* | Asure Software Inc. | 8,943 | 71 |
NVE Corp. | 917 | 66 | |
* | inTEST Corp. | 4,403 | 58 |
91,470 | |||
Telecommunications (2.0%) | |||
Comcast Corp. Class A | 48,262 | 2,022 | |
* | Arista Networks Inc. | 7,195 | 1,581 |
* | Charter Communications Inc. Class A | 2,866 | 1,147 |
Telephone and Data Systems Inc. | 31,860 | 627 | |
Bel Fuse Inc. Class B | 7,858 | 425 | |
* | Roku Inc. | 2,695 | 281 |
* | Extreme Networks Inc. | 12,830 | 207 |
Spok Holdings Inc. | 12,244 | 205 | |
Motorola Solutions Inc. | 459 | 148 | |
InterDigital Inc. | 1,021 | 102 | |
6,745 | |||
Utilities (0.3%) | |||
* | Clean Harbors Inc. | 4,468 | 723 |
* | Enviri Corp. | 54,965 | 324 |
1,047 | |||
Total Common Stocks (Cost $291,854) | 332,330 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (1.3%) | |||
Money Market Fund (1.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 5.438% (Cost $4,314) | 43,150 | 4,314 |
Total Investments (100.8%) (Cost $296,168) | 336,644 | ||
Other Assets and Liabilities—Net (-0.8%) | (2,807) | ||
Net Assets (100%) | 333,837 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,865,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $3,281,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | December 2023 | 5 | 1,144 | 15 |
Micro E-mini S&P 500 Index | December 2023 | 1 | 23 | 1 |
16 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $291,854) | 332,330 |
Affiliated Issuers (Cost $4,314) | 4,314 |
Total Investments in Securities | 336,644 |
Investment in Vanguard | 11 |
Cash | 24 |
Cash Collateral Pledged—Futures Contracts | 66 |
Receivables for Investment Securities Sold | 1,199 |
Receivables for Accrued Income | 250 |
Variation Margin Receivable—Futures Contracts | 4 |
Total Assets | 338,198 |
Liabilities | |
Payables for Investment Securities Purchased | 1,063 |
Collateral for Securities on Loan | 3,281 |
Payables to Vanguard | 17 |
Total Liabilities | 4,361 |
Net Assets | 333,837 |
1 Includes $2,865,000 of securities on loan. | |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 345,392 |
Total Distributable Earnings (Loss) | (11,555) |
Net Assets | 333,837 |
Net Assets | |
Applicable to 2,775,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 333,837 |
Net Asset Value Per Share | $120.30 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 3,395 |
Interest2 | 67 |
Securities Lending—Net | 208 |
Total Income | 3,670 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 89 |
Management and Administrative | 215 |
Marketing and Distribution | 17 |
Custodian Fees | 1 |
Auditing Fees | 28 |
Shareholders’ Reports | 34 |
Trustees’ Fees and Expenses | — |
Other Expenses | 17 |
Total Expenses | 401 |
Expenses Paid Indirectly | (1) |
Net Expenses | 400 |
Net Investment Income | 3,270 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | (5,167) |
Futures Contracts | 103 |
Realized Net Gain (Loss) | (5,064) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 3,350 |
Futures Contracts | (39) |
Change in Unrealized Appreciation (Depreciation) | 3,311 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,517 |
1 | Dividends are net of foreign withholding taxes of $2,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $63,000, less than $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $18,888,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 3,270 | 3,593 |
Realized Net Gain (Loss) | (5,064) | (14,964) |
Change in Unrealized Appreciation (Depreciation) | 3,311 | 5,322 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 1,517 | (6,049) |
Distributions | ||
Total Distributions | (3,438) | (3,256) |
Capital Share Transactions | ||
Issued | 189,620 | 147,546 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (137,717) | (45,302) |
Net Increase (Decrease) from Capital Share Transactions | 51,903 | 102,244 |
Total Increase (Decrease) | 49,982 | 92,939 |
Net Assets | ||
Beginning of Period | 283,855 | 190,916 |
End of Period | 333,837 | 283,855 |
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $121.83 | $132.12 | $106.33 | $85.18 | $76.73 |
Investment Operations | |||||
Net Investment Income1 | 1.232 | 2.072 | 1.227 | .552 | .985 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.405) | (10.460) | 25.325 | 21.279 | 8.336 |
Total from Investment Operations | (.173) | (8.388) | 26.552 | 21.831 | 9.321 |
Distributions | |||||
Dividends from Net Investment Income | (1.357) | (1.902) | (.762) | (.681) | (.871) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.357) | (1.902) | (.762) | (.681) | (.871) |
Net Asset Value, End of Period | $120.30 | $121.83 | $132.12 | $106.33 | $85.18 |
Total Return | -0.06% | -6.27% | 25.01% | 25.91% | 12.25% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $334 | $284 | $191 | $58 | $32 |
Ratio of Total Expenses to Average Net Assets | 0.13%2 | 0.13% | 0.13% | 0.13% | 0.13% |
Ratio of Net Investment Income to Average Net Assets | 1.07% | 1.76% | 0.95% | 0.62% | 1.24% |
Portfolio Turnover Rate | 73%3 | 88%3 | 103%3 | 115%3 | 118% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.13%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended November 30, 2023, custodian fee offset arrangements reduced the fund’s expenses by $1,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These |
Amount ($000) | |
Paid-in Capital | 18,879 |
Total Distributable Earnings (Loss) | (18,879) |
Amount ($000) | |
Undistributed Ordinary Income | 796 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 40,380 |
Capital Loss Carryforwards | (52,731) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (11,555) |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 3,438 | 3,256 |
Long-Term Capital Gains | — | — |
Total | 3,438 | 3,256 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 296,264 |
Gross Unrealized Appreciation | 52,626 |
Gross Unrealized Depreciation | (12,246) |
Net Unrealized Appreciation (Depreciation) | 40,380 |
F. | During the year ended November 30, 2023, the fund purchased $409,738,000 of investment securities and sold $358,165,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $133,630,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital shares issued and redeemed were: |
Year Ended November 30, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 1,615 | 1,260 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (1,170) | (375) |
Net Increase (Decrease) in Shares Outstanding | 445 | 885 |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Since Inception (2/13/2018) | Final Value of a $10,000 Investment | ||
U.S. Multifactor ETF Net Asset Value | 3.42% | 8.97% | 8.07% | $15,676 | |
U.S. Multifactor ETF Market Price | 3.49 | 8.97 | 8.08 | 15,686 | |
Russell 3000 Index | 12.61 | 11.77 | 11.02 | 18,324 |
One Year | Five Years | Since Inception (2/13/2018) | |
U.S. Multifactor ETF Market Price | 3.49% | 53.68% | 56.86% |
U.S. Multifactor ETF Net Asset Value | 3.42 | 53.64 | 56.76 |
Russell 3000 Index | 12.61 | 74.44 | 83.24 |
Basic Materials | 4.2% |
Consumer Discretionary | 20.0 |
Consumer Staples | 5.2 |
Energy | 14.0 |
Financials | 14.7 |
Health Care | 7.6 |
Industrials | 17.4 |
Real Estate | 0.4 |
Technology | 14.5 |
Telecommunications | 2.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Basic Materials (4.2%) | |||
Nucor Corp. | 8,430 | 1,433 | |
Mueller Industries Inc. | 18,712 | 777 | |
UFP Industries Inc. | 6,602 | 724 | |
Boise Cascade Co. | 6,227 | 681 | |
Reliance Steel & Aluminum Co. | 1,681 | 463 | |
Steel Dynamics Inc. | 3,567 | 425 | |
CF Industries Holdings Inc. | 5,473 | 411 | |
Olin Corp. | 8,052 | 380 | |
Olympic Steel Inc. | 6,029 | 341 | |
LyondellBasell Industries NV Class A | 3,139 | 299 | |
Worthington Industries Inc. | 4,051 | 290 | |
Westlake Corp. | 2,161 | 277 | |
Hawkins Inc. | 4,468 | 274 | |
Commercial Metals Co. | 5,779 | 262 | |
Mosaic Co. | 4,575 | 164 | |
* | US Silica Holdings Inc. | 13,942 | 157 |
AdvanSix Inc. | 5,653 | 148 | |
Cabot Corp. | 1,800 | 137 | |
United States Steel Corp. | 3,434 | 123 | |
Timken Co. | 1,097 | 79 | |
Freeport-McMoRan Inc. | 1,869 | 70 | |
* | Clearwater Paper Corp. | 1,907 | 67 |
* | TimkenSteel Corp. | 3,084 | 63 |
Southern Copper Corp. | 837 | 60 | |
8,105 | |||
Consumer Discretionary (19.9%) | |||
PulteGroup Inc. | 22,672 | 2,005 | |
* | Booking Holdings Inc. | 472 | 1,475 |
* | Taylor Morrison Home Corp. | 32,447 | 1,463 |
* | AutoZone Inc. | 405 | 1,057 |
Walmart Inc. | 6,519 | 1,015 | |
* | O'Reilly Automotive Inc. | 983 | 966 |
TJX Cos. Inc. | 10,466 | 922 | |
PVH Corp. | 9,348 | 914 | |
* | Airbnb Inc. Class A | 6,842 | 864 |
* | M/I Homes Inc. | 7,405 | 781 |
Lennar Corp. Class A | 5,299 | 678 | |
Academy Sports & Outdoors Inc. | 12,430 | 632 | |
* | American Airlines Group Inc. | 46,125 | 573 |
H&R Block Inc. | 12,607 | 573 | |
Thor Industries Inc. | 5,772 | 572 | |
Meritage Homes Corp. | 3,962 | 560 | |
Signet Jewelers Ltd. | 6,607 | 543 | |
Perdoceo Education Corp. | 30,470 | 531 |
Shares | Market Value• ($000) | ||
* | Deckers Outdoor Corp. | 781 | 519 |
DR Horton Inc. | 3,979 | 508 | |
Scholastic Corp. | 13,161 | 500 | |
* | NVR Inc. | 76 | 468 |
News Corp. Class B | 20,287 | 467 | |
Tempur Sealy International Inc. | 11,227 | 453 | |
Steelcase Inc. Class A | 35,633 | 439 | |
Williams-Sonoma Inc. | 2,247 | 421 | |
* | Brinker International Inc. | 11,490 | 414 |
* | YETI Holdings Inc. | 9,177 | 391 |
* | Cavco Industries Inc. | 1,358 | 384 |
Lennar Corp. Class B | 3,331 | 382 | |
* | G-III Apparel Group Ltd. | 13,042 | 375 |
Ralph Lauren Corp. | 2,862 | 370 | |
Dick's Sporting Goods Inc. | 2,805 | 365 | |
* | Skyline Champion Corp. | 6,004 | 361 |
* | Expedia Group Inc. | 2,631 | 358 |
* | Cars.com Inc. | 18,649 | 347 |
Ethan Allen Interiors Inc. | 12,934 | 347 | |
* | Urban Outfitters Inc. | 9,539 | 341 |
* | Malibu Boats Inc. Class A | 7,633 | 338 |
Boyd Gaming Corp. | 5,605 | 331 | |
* | 1-800-Flowers.com Inc. Class A | 37,170 | 328 |
Murphy USA Inc. | 877 | 324 | |
* | MasterCraft Boat Holdings Inc. | 16,128 | 323 |
* | AutoNation Inc. | 2,365 | 320 |
Winnebago Industries Inc. | 4,699 | 304 | |
* | Beazer Homes USA Inc. | 11,480 | 302 |
* | Tri Pointe Homes Inc. | 10,339 | 302 |
Build-A-Bear Workshop Inc. | 12,351 | 302 | |
* | Green Brick Partners Inc. | 6,269 | 297 |
KB Home | 5,614 | 292 | |
Tapestry Inc. | 8,968 | 284 | |
Upbound Group Inc. | 9,542 | 278 | |
Aaron's Co. Inc. | 31,399 | 277 | |
Oxford Industries Inc. | 3,007 | 272 | |
Genuine Parts Co. | 2,026 | 269 | |
* | ODP Corp. | 5,672 | 258 |
MillerKnoll Inc. | 9,903 | 255 | |
* | SkyWest Inc. | 5,227 | 247 |
Haverty Furniture Cos. Inc. | 7,644 | 240 | |
Nexstar Media Group Inc. | 1,688 | 240 | |
LKQ Corp. | 5,102 | 227 | |
* | Asbury Automotive Group Inc. | 1,068 | 224 |
* | Dream Finders Homes Inc. Class A | 9,000 | 219 |
American Eagle Outfitters Inc. | 11,444 | 218 | |
* | Royal Caribbean Cruises Ltd. | 2,000 | 215 |
Dana Inc. | 16,208 | 214 |
Shares | Market Value• ($000) | ||
* | Adient plc | 6,509 | 210 |
* | Adtalem Global Education Inc. | 3,638 | 207 |
Movado Group Inc. | 7,845 | 205 | |
Guess? Inc. | 9,194 | 202 | |
Monarch Casino & Resort Inc. | 3,173 | 200 | |
Rush Enterprises Inc. Class A | 4,960 | 197 | |
* | Abercrombie & Fitch Co. Class A | 2,588 | 196 |
Caleres Inc. | 6,372 | 193 | |
* | Lululemon Athletica Inc. | 410 | 183 |
* | American Axle & Manufacturing Holdings Inc. | 26,086 | 182 |
La-Z-Boy Inc. | 5,164 | 182 | |
Matthews International Corp. Class A | 5,060 | 173 | |
BorgWarner Inc. (XNYS) | 4,986 | 168 | |
PriceSmart Inc. | 2,456 | 165 | |
Gap Inc. | 8,157 | 164 | |
* | Helen of Troy Ltd. | 1,474 | 155 |
Bath & Body Works Inc. | 4,655 | 152 | |
Century Communities Inc. | 2,066 | 149 | |
* | Amazon.com Inc. | 1,000 | 146 |
Jack in the Box Inc. | 1,821 | 132 | |
Buckle Inc. | 3,352 | 129 | |
Travel & Leisure Co. | 3,581 | 128 | |
* | elf Beauty Inc. | 1,076 | 127 |
Penske Automotive Group Inc. | 849 | 127 | |
* | Stride Inc. | 2,101 | 127 |
Dillard's Inc. Class A | 364 | 126 | |
eBay Inc. | 3,066 | 126 | |
Strategic Education Inc. | 1,370 | 122 | |
Lowe's Cos. Inc. | 597 | 119 | |
* | Knowles Corp. | 7,422 | 118 |
Best Buy Co. Inc. | 1,626 | 115 | |
Acushnet Holdings Corp. | 1,806 | 102 | |
* | Hovnanian Enterprises Inc. Class A | 1,133 | 102 |
Macy's Inc. | 6,218 | 99 | |
HNI Corp. | 2,378 | 93 | |
Bloomin' Brands Inc. | 3,939 | 92 | |
Group 1 Automotive Inc. | 326 | 92 | |
Hibbett Inc. | 1,445 | 90 | |
Sonic Automotive Inc. Class A | 1,684 | 86 | |
* | Ulta Beauty Inc. | 199 | 85 |
* | United Airlines Holdings Inc. | 2,155 | 85 |
* | Inspired Entertainment Inc. | 10,798 | 85 |
* | Visteon Corp. | 709 | 84 |
Shoe Carnival Inc. | 3,339 | 81 | |
* | Skechers USA Inc. Class A | 1,245 | 73 |
A-Mark Precious Metals Inc. | 2,480 | 71 | |
* | Thryv Holdings Inc. | 3,978 | 71 |
International Game Technology plc | 2,587 | 69 | |
Johnson Outdoors Inc. Class A | 1,291 | 68 | |
* | SeaWorld Entertainment Inc. | 1,299 | 64 |
Inter Parfums Inc. | 497 | 62 | |
* | Turtle Beach Corp. | 4,094 | 46 |
* | Liquidity Services Inc. | 1,969 | 38 |
38,697 | |||
Consumer Staples (5.1%) | |||
McKesson Corp. | 4,555 | 2,143 | |
Altria Group Inc. | 37,558 | 1,579 | |
Philip Morris International Inc. | 10,649 | 994 | |
Kimberly-Clark Corp. | 7,154 | 885 | |
Kroger Co. | 13,716 | 607 | |
Vector Group Ltd. | 47,001 | 503 | |
Cencora Inc. | 2,285 | 465 |
Shares | Market Value• ($000) | ||
Ingles Markets Inc. Class A | 5,274 | 431 | |
Weis Markets Inc. | 6,685 | 404 | |
* | Performance Food Group Co. | 5,529 | 360 |
SpartanNash Co. | 13,979 | 310 | |
Coca-Cola Consolidated Inc. | 393 | 289 | |
Molson Coors Beverage Co. Class B | 3,966 | 244 | |
Cal-Maine Foods Inc. | 4,945 | 237 | |
John B Sanfilippo & Son Inc. | 1,987 | 183 | |
Dole plc | 11,911 | 137 | |
* | Sprouts Farmers Market Inc. | 2,571 | 111 |
Casey's General Stores Inc. | 183 | 50 | |
ACCO Brands Corp. | 7,859 | 42 | |
9,974 | |||
Energy (13.9%) | |||
Marathon Petroleum Corp. | 14,525 | 2,167 | |
EOG Resources Inc. | 12,289 | 1,512 | |
Exxon Mobil Corp. | 14,352 | 1,474 | |
Chevron Corp. | 9,830 | 1,412 | |
Valero Energy Corp. | 11,095 | 1,391 | |
ConocoPhillips | 12,019 | 1,389 | |
Phillips 66 | 9,004 | 1,160 | |
Occidental Petroleum Corp. | 17,162 | 1,015 | |
Cheniere Energy Inc. | 4,906 | 894 | |
CONSOL Energy Inc. | 5,924 | 632 | |
Liberty Energy Inc. | 27,563 | 547 | |
Coterra Energy Inc. | 20,697 | 543 | |
Chord Energy Corp. | 3,334 | 541 | |
* | Weatherford International plc | 5,663 | 514 |
* | Par Pacific Holdings Inc. | 13,296 | 456 |
ChampionX Corp. | 15,026 | 441 | |
Warrior Met Coal Inc. | 7,747 | 434 | |
Diamondback Energy Inc. | 2,796 | 432 | |
California Resources Corp. | 8,446 | 432 | |
Range Resources Corp. | 13,191 | 429 | |
PBF Energy Inc. Class A | 9,452 | 420 | |
RPC Inc. | 56,608 | 410 | |
SunCoke Energy Inc. | 44,096 | 410 | |
Matador Resources Co. | 6,425 | 372 | |
Helmerich & Payne Inc. | 10,000 | 362 | |
* | Gulfport Energy Corp. | 2,640 | 362 |
HF Sinclair Corp. | 6,606 | 347 | |
CVR Energy Inc. | 10,738 | 341 | |
Murphy Oil Corp. | 7,970 | 341 | |
Civitas Resources Inc. | 4,744 | 326 | |
* | ProPetro Holding Corp. | 35,629 | 325 |
* | Southwestern Energy Co. | 48,377 | 319 |
* | Newpark Resources Inc. | 42,333 | 294 |
Arch Resources Inc. | 1,761 | 292 | |
Permian resources Corp. | 22,121 | 291 | |
Kinetik Holdings Inc. | 7,643 | 278 | |
EQT Corp. | 6,683 | 267 | |
Northern Oil and Gas Inc. | 7,107 | 266 | |
* | NOW Inc. | 25,093 | 250 |
Patterson-UTI Energy Inc. | 20,799 | 244 | |
Select Water Solutions Inc. | 32,004 | 239 | |
Baker Hughes Co. | 6,791 | 229 | |
* | REX American Resources Corp. | 4,493 | 220 |
SM Energy Co. | 5,320 | 199 | |
* | Oil States International Inc. | 27,955 | 193 |
* | Helix Energy Solutions Group Inc. | 20,140 | 188 |
* | DMC Global Inc. | 11,369 | 181 |
SandRidge Energy Inc. | 12,278 | 170 | |
TechnipFMC plc | 7,839 | 162 | |
Evolution Petroleum Corp. | 25,289 | 150 |
Shares | Market Value• ($000) | ||
Magnolia Oil & Gas Corp. Class A | 5,500 | 118 | |
Noble Corp. plc | 2,454 | 113 | |
* | Kosmos Energy Ltd. | 14,637 | 99 |
* | Expro Group Holdings NV | 6,377 | 99 |
Berry Corp. | 11,528 | 83 | |
* | Oceaneering International Inc. | 3,974 | 82 |
* | MRC Global Inc. | 6,800 | 70 |
* | Tidewater Inc. | 1,000 | 60 |
26,987 | |||
Financials (14.6%) | |||
Aflac Inc. | 22,718 | 1,879 | |
American International Group Inc. | 22,990 | 1,513 | |
OneMain Holdings Inc. | 27,015 | 1,143 | |
MGIC Investment Corp. | 63,487 | 1,117 | |
OFG Bancorp | 30,492 | 1,023 | |
Popular Inc. | 11,597 | 856 | |
Primerica Inc. | 4,064 | 851 | |
JPMorgan Chase & Co. | 5,405 | 844 | |
Old Republic International Corp. | 27,127 | 795 | |
Radian Group Inc. | 28,830 | 741 | |
CNO Financial Group Inc. | 25,177 | 667 | |
Enact Holdings Inc. | 23,485 | 651 | |
First BanCorp (XNYS) | 42,432 | 637 | |
* | NMI Holdings Inc. Class A | 22,407 | 616 |
Unum Group | 14,103 | 606 | |
Bank of New York Mellon Corp. | 11,445 | 553 | |
* | Genworth Financial Inc. Class A | 90,852 | 535 |
International Bancshares Corp. | 11,811 | 530 | |
Fidelity National Financial Inc. | 11,143 | 500 | |
Employers Holdings Inc. | 11,942 | 458 | |
Pathward Financial Inc. | 9,172 | 455 | |
Apollo Global Management Inc. | 4,889 | 450 | |
* | Enstar Group Ltd. | 1,614 | 443 |
* | Mr Cooper Group Inc. | 7,176 | 434 |
PennyMac Financial Services Inc. | 5,328 | 415 | |
Jefferies Financial Group Inc. | 11,544 | 409 | |
Hartford Financial Services Group Inc. | 5,053 | 395 | |
First Financial Corp. | 9,951 | 381 | |
Bank OZK | 8,511 | 356 | |
Preferred Bank | 5,378 | 331 | |
City Holding Co. | 3,327 | 320 | |
Principal Financial Group Inc. | 4,256 | 314 | |
Victory Capital Holdings Inc. Class A | 9,397 | 302 | |
Navient Corp. | 17,317 | 297 | |
State Street Corp. | 3,986 | 290 | |
Bank of NT Butterfield & Son Ltd. | 10,317 | 286 | |
SLM Corp. | 18,794 | 283 | |
White Mountains Insurance Group Ltd. | 185 | 283 | |
WaFd Inc. | 9,733 | 260 | |
Equitable Holdings Inc. | 8,480 | 260 | |
QCR Holdings Inc. | 5,110 | 254 | |
Discover Financial Services | 2,517 | 234 | |
Globe Life Inc. | 1,887 | 232 | |
* | Axos Financial Inc. | 5,875 | 225 |
Federal Agricultural Mortgage Corp. Class C | 1,354 | 225 | |
S&T Bancorp Inc. | 7,987 | 224 | |
Evercore Inc. Class A | 1,476 | 218 | |
Corebridge Financial Inc. | 9,850 | 207 | |
BOK Financial Corp. | 2,510 | 180 |
Shares | Market Value• ($000) | ||
LPL Financial Holdings Inc. | 805 | 179 | |
CNA Financial Corp. | 4,018 | 169 | |
Cathay General Bancorp | 4,315 | 158 | |
RenaissanceRe Holdings Ltd. | 704 | 151 | |
Assured Guaranty Ltd. | 2,200 | 149 | |
W R Berkley Corp. | 2,037 | 148 | |
Central Pacific Financial Corp. | 8,433 | 148 | |
Ameriprise Financial Inc. | 406 | 144 | |
Cboe Global Markets Inc. | 769 | 140 | |
Amalgamated Financial Corp. | 6,306 | 132 | |
HarborOne Bancorp Inc. | 11,687 | 129 | |
Southside Bancshares Inc. | 4,519 | 124 | |
* | Texas Capital Bancshares Inc. | 1,955 | 107 |
1st Source Corp. | 2,198 | 106 | |
BankUnited Inc. | 3,598 | 99 | |
Affiliated Managers Group Inc. | 712 | 97 | |
TrustCo Bank Corp. NY | 3,526 | 95 | |
New York Community Bancorp Inc. | 10,000 | 94 | |
WSFS Financial Corp. | 2,368 | 91 | |
Old Second Bancorp Inc. | 5,516 | 78 | |
Fulton Financial Corp. | 4,880 | 69 | |
Hanmi Financial Corp. | 3,821 | 64 | |
Berkshire Hills Bancorp Inc. | 2,915 | 61 | |
Great Southern Bancorp Inc. | 1,111 | 56 | |
* | Encore Capital Group Inc. | 1,117 | 50 |
Midland States Bancorp Inc. | 1,896 | 43 | |
* | Arch Capital Group Ltd. | 476 | 40 |
28,399 | |||
Health Care (7.5%) | |||
HCA Healthcare Inc. | 7,296 | 1,827 | |
Gilead Sciences Inc. | 18,541 | 1,420 | |
* | Regeneron Pharmaceuticals Inc. | 1,442 | 1,188 |
Humana Inc. | 2,402 | 1,165 | |
* | Vertex Pharmaceuticals Inc. | 2,978 | 1,057 |
Elevance Health Inc. | 1,703 | 817 | |
AbbVie Inc. | 5,533 | 788 | |
Cigna Group | 2,906 | 764 | |
Merck & Co. Inc. | 7,258 | 744 | |
Cardinal Health Inc. | 6,486 | 694 | |
Bristol-Myers Squibb Co. | 7,649 | 378 | |
* | Catalyst Pharmaceuticals Inc. | 25,290 | 365 |
* | OraSure Technologies Inc. | 49,062 | 359 |
* | Amneal Pharmaceuticals Inc. | 70,369 | 303 |
* | Collegium Pharmaceutical Inc. | 11,535 | 296 |
* | Centene Corp. | 4,000 | 295 |
* | Lantheus Holdings Inc. | 3,544 | 254 |
* | Haemonetics Corp. | 3,075 | 249 |
* | Medpace Holdings Inc. | 892 | 241 |
* | Owens & Minor Inc. | 11,854 | 236 |
* | PetIQ Inc. | 12,039 | 210 |
* | Inmode Ltd. | 6,873 | 163 |
* | CorVel Corp. | 773 | 161 |
Chemed Corp. | 195 | 110 | |
* | Align Technology Inc. | 407 | 87 |
* | Intuitive Surgical Inc. | 242 | 75 |
* | Jazz Pharmaceuticals plc | 620 | 73 |
HealthStream Inc. | 2,717 | 68 | |
* | Tactile Systems Technology Inc. | 4,773 | 64 |
* | Amphastar Pharmaceuticals Inc. | 1,124 | 63 |
* | Hims & Hers Health Inc. | 6,308 | 56 |
* | Henry Schein Inc. | 653 | 44 |
14,614 |
Shares | Market Value• ($000) | ||
Industrials (17.4%) | |||
* | Builders FirstSource Inc. | 8,613 | 1,155 |
* | Fiserv Inc. | 8,422 | 1,100 |
Caterpillar Inc. | 3,643 | 913 | |
Allison Transmission Holdings Inc. | 13,929 | 745 | |
MSC Industrial Direct Co. Inc. Class A | 7,576 | 738 | |
Owens Corning | 4,630 | 628 | |
* | XPO Inc. | 6,978 | 602 |
* | Modine Manufacturing Co. | 12,132 | 597 |
American Express Co. | 3,463 | 591 | |
* | Atkore Inc. | 4,447 | 578 |
FedEx Corp. | 2,225 | 576 | |
Griffon Corp. | 12,281 | 571 | |
* | GMS Inc. | 7,929 | 536 |
* | JELD-WEN Holding Inc. | 32,178 | 514 |
General Electric Co. | 4,139 | 504 | |
Terex Corp. | 10,169 | 503 | |
Crane NXT Co. | 9,744 | 501 | |
* | Teekay Corp. | 71,520 | 494 |
Carrier Global Corp. | 9,000 | 468 | |
International Seaways Inc. | 10,237 | 467 | |
* | American Woodmark Corp. | 6,367 | 461 |
Teekay Tankers Ltd. Class A | 9,266 | 460 | |
Synchrony Financial | 13,983 | 453 | |
Ryder System Inc. | 4,178 | 448 | |
United Rentals Inc. | 915 | 436 | |
Snap-on Inc. | 1,536 | 422 | |
Acuity Brands Inc. | 2,350 | 421 | |
* | TopBuild Corp. | 1,400 | 414 |
Encore Wire Corp. | 2,233 | 412 | |
EMCOR Group Inc. | 1,931 | 410 | |
* | Manitowoc Co. Inc. | 28,205 | 404 |
Scorpio Tankers Inc. | 7,098 | 390 | |
* | Sterling Infrastructure Inc. | 6,117 | 389 |
Accenture plc Class A | 1,154 | 384 | |
Vontier Corp. | 11,300 | 381 | |
EnerSys | 4,191 | 371 | |
Applied Industrial Technologies Inc. | 2,295 | 367 | |
* | Saia Inc. | 932 | 364 |
* | TriNet Group Inc. | 3,125 | 362 |
Moog Inc. Class A | 2,535 | 355 | |
PACCAR Inc. | 3,800 | 349 | |
Comfort Systems USA Inc. | 1,763 | 341 | |
* | Gibraltar Industries Inc. | 4,962 | 333 |
Kelly Services Inc. Class A | 15,655 | 325 | |
Ardmore Shipping Corp. | 23,478 | 319 | |
Covenant Logistics Group Inc. | 7,396 | 315 | |
Simpson Manufacturing Co. Inc. | 1,868 | 312 | |
Wabash National Corp. | 14,111 | 309 | |
Patrick Industries Inc. | 3,758 | 308 | |
Nordic American Tankers Ltd. | 77,937 | 302 | |
Belden Inc. | 4,453 | 296 | |
Schneider National Inc. Class B | 12,606 | 290 | |
AGCO Corp. | 2,541 | 289 | |
* | WEX Inc. | 1,564 | 276 |
* | Hub Group Inc. Class A | 3,621 | 274 |
Hubbell Inc. | 914 | 274 | |
Resources Connection Inc. | 19,833 | 270 | |
DHT Holdings Inc. | 27,109 | 270 | |
Insteel Industries Inc. | 7,906 | 269 | |
ArcBest Corp. | 2,177 | 260 | |
Landstar System Inc. | 1,501 | 259 | |
Marten Transport Ltd. | 13,557 | 256 |
Shares | Market Value• ($000) | ||
* | Fair Isaac Corp. | 234 | 255 |
Quanex Building Products Corp. | 7,741 | 238 | |
SFL Corp. Ltd. | 20,978 | 238 | |
Matson Inc. | 2,336 | 224 | |
Parker-Hannifin Corp. | 500 | 217 | |
Dorian LPG Ltd. | 4,857 | 206 | |
Eagle Materials Inc. | 1,114 | 202 | |
* | Beacon Roofing Supply Inc. | 2,469 | 198 |
Deluxe Corp. | 10,796 | 197 | |
* | AAR Corp. | 2,656 | 184 |
* | MYR Group Inc. | 1,384 | 172 |
Greif Inc. Class A | 2,442 | 171 | |
Apogee Enterprises Inc. | 3,695 | 167 | |
Barrett Business Services Inc. | 1,393 | 153 | |
Preformed Line Products Co. | 1,220 | 152 | |
Powell Industries Inc. | 1,752 | 146 | |
* | Thermon Group Holdings Inc. | 4,830 | 146 |
WESCO International Inc. | 911 | 142 | |
Carlisle Cos. Inc. | 494 | 139 | |
* | API Group Corp. | 4,495 | 136 |
Genco Shipping & Trading Ltd. | 8,607 | 134 | |
LSI Industries Inc. | 10,070 | 132 | |
Brunswick Corp. | 1,663 | 131 | |
* | Cross Country Healthcare Inc. | 6,480 | 131 |
Kforce Inc. | 1,872 | 131 | |
Expeditors International of Washington Inc. | 1,052 | 127 | |
Tennant Co. | 1,300 | 111 | |
Werner Enterprises Inc. | 2,610 | 104 | |
REV Group Inc. | 6,470 | 102 | |
* | Proto Labs Inc. | 2,800 | 101 |
H&E Equipment Services Inc. | 2,206 | 98 | |
Standex International Corp. | 733 | 98 | |
Franklin Electric Co. Inc. | 1,049 | 93 | |
JB Hunt Transport Services Inc. | 484 | 90 | |
Berry Global Group Inc. | 1,263 | 84 | |
* | O-I Glass Inc. | 5,564 | 82 |
* | Tutor Perini Corp. | 9,676 | 81 |
Kennametal Inc. | 3,288 | 77 | |
Pentair plc | 1,100 | 71 | |
Insperity Inc. | 591 | 67 | |
Ennis Inc. | 3,061 | 65 | |
ManpowerGroup Inc. | 866 | 64 | |
Robert Half Inc. | 764 | 63 | |
Graphic Packaging Holding Co. | 2,601 | 59 | |
Enerpac Tool Group Corp. | 2,127 | 58 | |
Watts Water Technologies Inc. Class A | 269 | 52 | |
* | Masonite International Corp. | 532 | 47 |
nVent Electric plc | 811 | 43 | |
* | FleetCor Technologies Inc. | 161 | 39 |
* | AMN Healthcare Services Inc. | 580 | 39 |
* | Titan Machinery Inc. | 1,669 | 38 |
33,676 | |||
Real Estate (0.5%) | |||
* | Forestar Group Inc. | 9,378 | 286 |
St. Joe Co. | 5,565 | 286 | |
Newmark Group Inc. Class A | 28,018 | 231 | |
* | CBRE Group Inc. Class A | 853 | 67 |
870 | |||
Technology (14.4%) | |||
Microchip Technology Inc. | 24,759 | 2,066 | |
* | Alphabet Inc. Class C | 13,284 | 1,779 |
* | Meta Platforms Inc. Class A | 5,024 | 1,644 |
Applied Materials Inc. | 10,795 | 1,617 | |
Broadcom Inc. | 1,610 | 1,490 |
Shares | Market Value• ($000) | ||
Oracle Corp. | 12,153 | 1,412 | |
* | Palo Alto Networks Inc. | 4,696 | 1,386 |
Lam Research Corp. | 1,843 | 1,319 | |
* | Alphabet Inc. Class A | 8,925 | 1,183 |
* | Adobe Inc. | 1,770 | 1,082 |
* | Cadence Design Systems Inc. | 3,844 | 1,050 |
KLA Corp. | 1,840 | 1,002 | |
Jabil Inc. | 7,113 | 820 | |
* | Photronics Inc. | 33,576 | 710 |
* | ON Semiconductor Corp. | 9,391 | 670 |
Amkor Technology Inc. | 19,607 | 552 | |
* | Salesforce Inc. | 2,100 | 529 |
* | Cohu Inc. | 15,297 | 485 |
* | Synopsys Inc. | 879 | 478 |
HP Inc. | 15,792 | 463 | |
Amdocs Ltd. | 5,239 | 439 | |
* | Diodes Inc. | 6,400 | 425 |
* | Arrow Electronics Inc. | 3,275 | 388 |
NVIDIA Corp. | 829 | 388 | |
* | Kyndryl Holdings Inc. | 20,747 | 374 |
* | Insight Enterprises Inc. | 2,259 | 342 |
Cognizant Technology Solutions Corp. Class A | 4,635 | 326 | |
* | LiveRamp Holdings Inc. | 9,663 | 320 |
* | Axcelis Technologies Inc. | 2,343 | 291 |
Skyworks Solutions Inc. | 2,653 | 257 | |
Adeia Inc. | 27,708 | 255 | |
* | Sanmina Corp. | 4,964 | 249 |
Kulicke & Soffa Industries Inc. | 4,386 | 226 | |
Vishay Intertechnology Inc. | 9,242 | 205 | |
Science Applications International Corp. | 1,490 | 175 | |
* | Workday Inc. Class A | 639 | 173 |
* | Dropbox Inc. Class A | 6,090 | 172 |
* | Mitek Systems Inc. | 10,959 | 124 |
* | CACI International Inc. Class A | 381 | 122 |
A10 Networks Inc. | 9,374 | 117 | |
* | Super Micro Computer Inc. | 403 | 110 |
Hewlett Packard Enterprise Co. | 6,277 | 106 | |
* | Daktronics Inc. | 10,111 | 105 |
Shares | Market Value• ($000) | ||
CTS Corp. | 2,183 | 85 | |
* | Yext Inc. | 12,793 | 85 |
* | Pure Storage Inc. Class A | 2,389 | 80 |
* | Teradata Corp. | 1,529 | 72 |
PC Connection Inc. | 1,069 | 64 | |
* | Asure Software Inc. | 6,601 | 53 |
* | F5 Inc. | 308 | 53 |
* | NetScout Systems Inc. | 2,399 | 48 |
* | Rambus Inc. | 686 | 46 |
28,012 | |||
Telecommunications (2.0%) | |||
Cisco Systems Inc. | 40,115 | 1,941 | |
Comcast Corp. Class A | 19,690 | 825 | |
Bel Fuse Inc. Class B | 6,744 | 365 | |
* | Charter Communications Inc. Class A | 868 | 347 |
* | Extreme Networks Inc. | 11,678 | 188 |
Spok Holdings Inc. | 7,329 | 123 | |
* | IDT Corp. Class B | 2,555 | 75 |
3,864 | |||
Total Common Stocks (Cost $170,094) | 193,198 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
1 | Vanguard Market Liquidity Fund, 5.438% (Cost $535) | 5,351 | 535 |
Total Investments (99.8%) (Cost $170,629) | 193,733 | ||
Other Assets and Liabilities—Net (0.2%) | 363 | ||
Net Assets (100%) | 194,096 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Micro E-mini S&P 500 Index | December 2023 | 34 | 778 | 15 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $170,094) | 193,198 |
Affiliated Issuers (Cost $535) | 535 |
Total Investments in Securities | 193,733 |
Investment in Vanguard | 6 |
Cash Collateral Pledged—Futures Contracts | 38 |
Receivables for Accrued Income | 332 |
Variation Margin Receivable—Futures Contracts | 3 |
Total Assets | 194,112 |
Liabilities | |
Payables for Investment Securities Purchased | 3 |
Payables to Vanguard | 13 |
Total Liabilities | 16 |
Net Assets | 194,096 |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 195,647 |
Total Distributable Earnings (Loss) | (1,551) |
Net Assets | 194,096 |
Net Assets | |
Applicable to 1,825,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 194,096 |
Net Asset Value Per Share | $106.35 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 3,834 |
Interest2 | 34 |
Securities Lending—Net | 13 |
Total Income | 3,881 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 49 |
Management and Administrative | 180 |
Marketing and Distribution | 10 |
Auditing Fees | 28 |
Shareholders’ Reports | 27 |
Trustees’ Fees and Expenses | — |
Professional Services | 16 |
Total Expenses | 310 |
Net Investment Income | 3,571 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 5,381 |
Futures Contracts | 84 |
Realized Net Gain (Loss) | 5,465 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (2,490) |
Futures Contracts | (39) |
Change in Unrealized Appreciation (Depreciation) | (2,529) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,507 |
1 | Dividends are net of foreign withholding taxes of $4,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $32,000, less than $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $11,645,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 3,571 | 3,098 |
Realized Net Gain (Loss) | 5,465 | 3,068 |
Change in Unrealized Appreciation (Depreciation) | (2,529) | 1,362 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,507 | 7,528 |
Distributions | ||
Total Distributions | (3,596) | (2,850) |
Capital Share Transactions | ||
Issued | 52,488 | 83,650 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (31,560) | (28,351) |
Net Increase (Decrease) from Capital Share Transactions | 20,928 | 55,299 |
Total Increase (Decrease) | 23,839 | 59,977 |
Net Assets | ||
Beginning of Period | 170,257 | 110,280 |
End of Period | 194,096 | 170,257 |
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $105.10 | $103.55 | $79.93 | $79.60 | $76.07 |
Investment Operations | |||||
Net Investment Income1 | 2.111 | 2.188 | 1.534 | 1.191 | 1.340 |
Net Realized and Unrealized Gain (Loss) on Investments | 1.295 | 1.467 | 23.442 | .372 | 3.458 |
Total from Investment Operations | 3.406 | 3.655 | 24.976 | 1.563 | 4.798 |
Distributions | |||||
Dividends from Net Investment Income | (2.156) | (2.105) | (1.356) | (1.233) | (1.268) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (2.156) | (2.105) | (1.356) | (1.233) | (1.268) |
Net Asset Value, End of Period | $106.35 | $105.10 | $103.55 | $79.93 | $79.60 |
Total Return | 3.42% | 3.73% | 31.43% | 2.35% | 6.46% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $194 | $170 | $110 | $62 | $90 |
Ratio of Total Expenses to Average Net Assets | 0.18% | 0.18%2 | 0.18% | 0.19%2 | 0.19%2 |
Ratio of Net Investment Income to Average Net Assets | 2.07% | 2.21% | 1.56% | 1.66% | 1.79% |
Portfolio Turnover Rate | 37%3 | 33%3 | 75%3 | 95%3 | 98% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.18%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
D. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 11,646 |
Total Distributable Earnings (Loss) | (11,646) |
Amount ($000) | |
Undistributed Ordinary Income | 672 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 23,104 |
Capital Loss Carryforwards | (25,327) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (1,551) |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 3,596 | 2,850 |
Long-Term Capital Gains | — | — |
Total | 3,596 | 2,850 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 170,629 |
Gross Unrealized Appreciation | 28,794 |
Gross Unrealized Depreciation | (5,690) |
Net Unrealized Appreciation (Depreciation) | 23,104 |
E. | During the year ended November 30, 2023, the fund purchased $117,035,000 of investment securities and sold $96,291,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $31,538,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital shares issued and redeemed were: |
Year Ended November 30, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 515 | 840 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (310) | (285) |
Net Increase (Decrease) in Shares Outstanding | 205 | 555 |
G. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
H. | Management has determined that no events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Since Inception (2/13/2018) | Final Value of a $10,000 Investment | ||
U.S. Quality Factor ETF Net Asset Value | 6.84% | 9.97% | 9.56% | $16,970 | |
U.S. Quality Factor ETF Market Price | 6.90 | 9.98 | 9.57 | 16,978 | |
Russell 3000 Index | 12.61 | 11.77 | 11.02 | 18,324 |
One Year | Five Years | Since Inception (2/13/2018) | |
U.S. Quality Factor ETF Market Price | 6.90% | 60.87% | 69.78% |
U.S. Quality Factor ETF Net Asset Value | 6.84 | 60.83 | 69.70 |
Russell 3000 Index | 12.61 | 74.44 | 83.24 |
Basic Materials | 3.6% |
Consumer Discretionary | 19.7 |
Consumer Staples | 5.5 |
Energy | 4.9 |
Financials | 14.2 |
Health Care | 10.4 |
Industrials | 19.6 |
Technology | 20.9 |
Telecommunications | 1.2 |
Shares | Market Value• ($000) | ||
Common Stocks (99.4%) | |||
Basic Materials (3.5%) | |||
Fastenal Co. | 20,120 | 1,207 | |
UFP Industries Inc. | 10,566 | 1,158 | |
Ecolab Inc. | 5,266 | 1,010 | |
Nucor Corp. | 5,430 | 923 | |
Mueller Industries Inc. | 21,114 | 877 | |
Olin Corp. | 12,079 | 569 | |
Reliance Steel & Aluminum Co. | 1,550 | 427 | |
Steel Dynamics Inc. | 3,540 | 422 | |
Boise Cascade Co. | 3,743 | 409 | |
CF Industries Holdings Inc. | 5,406 | 406 | |
Olympic Steel Inc. | 5,647 | 319 | |
Sylvamo Corp. | 5,475 | 275 | |
Innospec Inc. | 2,484 | 261 | |
Ryerson Holding Corp. | 4,184 | 130 | |
Hawkins Inc. | 1,810 | 111 | |
* | Clearwater Paper Corp. | 3,059 | 107 |
8,611 | |||
Consumer Discretionary (19.6%) | |||
Walmart Inc. | 28,632 | 4,458 | |
Target Corp. | 26,854 | 3,593 | |
TJX Cos. Inc. | 38,175 | 3,364 | |
NIKE Inc. Class B | 23,575 | 2,600 | |
Costco Wholesale Corp. | 3,218 | 1,907 | |
* | Lululemon Athletica Inc. | 4,182 | 1,869 |
* | Airbnb Inc. Class A | 11,744 | 1,484 |
Best Buy Co. Inc. | 19,480 | 1,382 | |
Pool Corp. | 3,703 | 1,286 | |
* | Deckers Outdoor Corp. | 1,786 | 1,186 |
* | Mattel Inc. | 58,270 | 1,107 |
eBay Inc. | 26,508 | 1,087 | |
* | Expedia Group Inc. | 7,904 | 1,076 |
Tapestry Inc. | 27,184 | 861 | |
* | Amazon.com Inc. | 5,880 | 859 |
Macy's Inc. | 53,383 | 847 | |
* | Grand Canyon Education Inc. | 6,008 | 821 |
Genuine Parts Co. | 6,067 | 806 | |
* | Ulta Beauty Inc. | 1,664 | 709 |
Hasbro Inc. | 13,965 | 648 | |
Steven Madden Ltd. | 16,970 | 643 | |
Ralph Lauren Corp. | 4,781 | 619 | |
American Eagle Outfitters Inc. | 32,442 | 617 | |
* | elf Beauty Inc. | 5,207 | 615 |
* | Coupang Inc. | 34,333 | 525 |
Lennar Corp. Class B | 4,413 | 506 | |
Oxford Industries Inc. | 5,424 | 490 |
Shares | Market Value• ($000) | ||
John Wiley & Sons Inc. Class A | 15,240 | 460 | |
* | Abercrombie & Fitch Co. Class A | 5,836 | 443 |
Rollins Inc. | 10,884 | 443 | |
* | ODP Corp. | 9,615 | 438 |
Academy Sports & Outdoors Inc. | 8,571 | 436 | |
Electronic Arts Inc. | 3,136 | 433 | |
* | MasterCraft Boat Holdings Inc. | 19,866 | 397 |
HNI Corp. | 9,627 | 376 | |
Perdoceo Education Corp. | 20,323 | 354 | |
Advance Auto Parts Inc. | 6,827 | 347 | |
Aaron's Co. Inc. | 38,919 | 343 | |
* | Duolingo Inc. | 1,572 | 334 |
New York Times Co. Class A | 6,758 | 318 | |
Build-A-Bear Workshop Inc. | 12,988 | 317 | |
La-Z-Boy Inc. | 8,751 | 308 | |
Monarch Casino & Resort Inc. | 4,814 | 303 | |
Movado Group Inc. | 11,416 | 299 | |
* | Cavco Industries Inc. | 1,023 | 289 |
Ross Stores Inc. | 2,172 | 283 | |
* | NVR Inc. | 45 | 277 |
* | Thryv Holdings Inc. | 15,593 | 277 |
Ethan Allen Interiors Inc. | 9,850 | 264 | |
* | Booking Holdings Inc. | 83 | 259 |
* | Skechers USA Inc. Class A | 4,383 | 258 |
PriceSmart Inc. | 3,780 | 255 | |
* | Arlo Technologies Inc. | 26,385 | 240 |
* | Knowles Corp. | 14,943 | 237 |
Steelcase Inc. Class A | 17,126 | 211 | |
* | CarParts.com Inc. | 68,640 | 210 |
Buckle Inc. | 5,296 | 204 | |
Murphy USA Inc. | 466 | 172 | |
Scholastic Corp. | 4,380 | 166 | |
* | Stitch Fix Inc. Class A | 41,104 | 154 |
* | DraftKings Inc. Class A | 3,678 | 141 |
Acushnet Holdings Corp. | 2,436 | 138 | |
Upbound Group Inc. | 4,324 | 126 | |
Dick's Sporting Goods Inc. | 956 | 124 | |
* | Coursera Inc. | 6,291 | 124 |
* | Destination XL Group Inc. | 30,174 | 114 |
* | Under Armour Inc. Class A | 13,252 | 108 |
* | Malibu Boats Inc. Class A | 2,250 | 100 |
* | YETI Holdings Inc. | 2,296 | 98 |
Caleres Inc. | 3,138 | 95 | |
* | TripAdvisor Inc. | 5,226 | 93 |
Matthews International Corp. Class A | 2,695 | 92 | |
* | Solo Brands Inc. Class A | 17,294 | 90 |
Shares | Market Value• ($000) | ||
* | Hovnanian Enterprises Inc. Class A | 794 | 72 |
Columbia Sportswear Co. | 837 | 66 | |
* | Liquidity Services Inc. | 3,191 | 61 |
Signet Jewelers Ltd. | 712 | 59 | |
47,771 | |||
Consumer Staples (5.5%) | |||
PepsiCo Inc. | 17,379 | 2,925 | |
Kroger Co. | 30,164 | 1,335 | |
Procter & Gamble Co. | 5,271 | 809 | |
WD-40 Co. | 3,099 | 750 | |
* | National Beverage Corp. | 13,136 | 624 |
Casey's General Stores Inc. | 2,001 | 551 | |
Kellanova | 10,302 | 541 | |
Flowers Foods Inc. | 24,662 | 513 | |
John B Sanfilippo & Son Inc. | 5,419 | 499 | |
Cencora Inc. | 2,438 | 496 | |
Coca-Cola Consolidated Inc. | 591 | 434 | |
Medifast Inc. | 6,072 | 403 | |
Coca-Cola Co. | 6,828 | 399 | |
* | Boston Beer Co. Inc. Class A | 1,082 | 384 |
Hershey Co. | 2,031 | 382 | |
Cal-Maine Foods Inc. | 7,792 | 373 | |
Lancaster Colony Corp. | 2,219 | 368 | |
Nu Skin Enterprises Inc. Class A | 16,439 | 280 | |
* | United Natural Foods Inc. | 16,686 | 243 |
* | USANA Health Sciences Inc. | 5,089 | 240 |
SpartanNash Co. | 9,475 | 210 | |
Weis Markets Inc. | 3,339 | 202 | |
Ingles Markets Inc. Class A | 1,519 | 124 | |
Kimberly-Clark Corp. | 973 | 120 | |
* | Vita Coco Co. Inc. | 3,517 | 99 |
13,304 | |||
Energy (4.9%) | |||
ConocoPhillips | 15,288 | 1,767 | |
Occidental Petroleum Corp. | 29,269 | 1,731 | |
EOG Resources Inc. | 13,077 | 1,609 | |
Marathon Petroleum Corp. | 7,634 | 1,139 | |
ChampionX Corp. | 29,983 | 879 | |
Texas Pacific Land Corp. | 464 | 776 | |
Coterra Energy Inc. | 20,117 | 528 | |
Alpha Metallurgical Resources Inc. | 1,429 | 401 | |
* | Enphase Energy Inc. | 3,466 | 350 |
* | ProPetro Holding Corp. | 38,262 | 349 |
SM Energy Co. | 8,574 | 321 | |
RPC Inc. | 35,958 | 261 | |
* | Weatherford International plc | 2,856 | 259 |
* | Gulfport Energy Corp. | 1,894 | 259 |
Range Resources Corp. | 6,771 | 220 | |
Valero Energy Corp. | 1,541 | 193 | |
Arch Resources Inc. | 1,127 | 187 | |
CONSOL Energy Inc. | 1,481 | 158 | |
SunCoke Energy Inc. | 14,628 | 136 | |
* | Oceaneering International Inc. | 4,661 | 96 |
PBF Energy Inc. Class A | 2,041 | 91 | |
* | DMC Global Inc. | 4,496 | 72 |
* | NOW Inc. | 5,675 | 57 |
11,839 | |||
Financials (14.1%) | |||
American International Group Inc. | 40,214 | 2,647 | |
Equitable Holdings Inc. | 57,584 | 1,767 | |
Ameriprise Financial Inc. | 4,319 | 1,527 | |
Aflac Inc. | 17,700 | 1,464 |
Shares | Market Value• ($000) | ||
Charles Schwab Corp. | 23,129 | 1,418 | |
Discover Financial Services | 14,720 | 1,369 | |
First BanCorp (XNYS) | 90,668 | 1,360 | |
Primerica Inc. | 6,283 | 1,316 | |
SLM Corp. | 83,508 | 1,255 | |
Popular Inc. | 15,884 | 1,172 | |
Principal Financial Group Inc. | 14,307 | 1,056 | |
Zions Bancorp NA | 28,170 | 1,004 | |
State Street Corp. | 13,160 | 958 | |
OFG Bancorp | 25,719 | 863 | |
Bank OZK | 19,510 | 817 | |
WSFS Financial Corp. | 20,759 | 801 | |
* | Bancorp Inc. | 17,777 | 693 |
Pathward Financial Inc. | 13,880 | 688 | |
CNO Financial Group Inc. | 25,201 | 668 | |
Jackson Financial Inc. Class A | 13,664 | 652 | |
BankUnited Inc. | 22,782 | 629 | |
Cathay General Bancorp | 15,527 | 570 | |
Fidelity National Financial Inc. | 12,394 | 556 | |
PJT Partners Inc. Class A | 5,951 | 536 | |
* | Customers Bancorp Inc. | 11,827 | 533 |
Aon plc Class A (XNYS) | 1,557 | 511 | |
Berkshire Hills Bancorp Inc. | 24,318 | 509 | |
* | Brighthouse Financial Inc. | 9,361 | 487 |
Triumph Financial Inc. | 6,780 | 460 | |
City Holding Co. | 4,714 | 454 | |
Central Pacific Financial Corp. | 24,782 | 435 | |
* | Axos Financial Inc. | 11,047 | 423 |
Fulton Financial Corp. | 28,971 | 412 | |
BOK Financial Corp. | 5,496 | 394 | |
* | Palomar Holdings Inc. | 6,571 | 384 |
Eagle Bancorp Inc. | 15,004 | 356 | |
Westamerica BanCorp | 6,419 | 326 | |
1st Source Corp. | 6,613 | 320 | |
Virtus Investment Partners Inc. | 1,334 | 261 | |
SEI Investments Co. | 4,387 | 257 | |
Moody's Corp. | 568 | 207 | |
* | Mr Cooper Group Inc. | 3,413 | 207 |
MGIC Investment Corp. | 11,196 | 197 | |
Radian Group Inc. | 7,596 | 195 | |
* | NMI Holdings Inc. Class A | 6,642 | 183 |
Southside Bancshares Inc. | 5,679 | 156 | |
Bank of NT Butterfield & Son Ltd. | 4,903 | 136 | |
Trustmark Corp. | 5,848 | 134 | |
Universal Insurance Holdings Inc. | 6,169 | 105 | |
Hanmi Financial Corp. | 5,896 | 98 | |
PennyMac Financial Services Inc. | 1,233 | 96 | |
Kearny Financial Corp. | 12,017 | 95 | |
Lakeland Financial Corp. | 1,494 | 83 | |
Amalgamated Financial Corp. | 3,425 | 72 | |
Tompkins Financial Corp. | 1,154 | 61 | |
Artisan Partners Asset Management Inc. Class A | 1,501 | 57 | |
Preferred Bank | 913 | 56 | |
Washington Trust Bancorp Inc. | 1,928 | 52 | |
34,498 | |||
Health Care (10.3%) | |||
Bristol-Myers Squibb Co. | 76,814 | 3,793 | |
Gilead Sciences Inc. | 44,644 | 3,420 | |
Merck & Co. Inc. | 21,091 | 2,161 | |
Eli Lilly & Co. | 3,561 | 2,105 | |
Humana Inc. | 3,356 | 1,627 | |
* | IDEXX Laboratories Inc. | 3,328 | 1,550 |
Chemed Corp. | 1,977 | 1,121 |
Shares | Market Value• ($000) | ||
* | Medpace Holdings Inc. | 3,434 | 930 |
* | Edwards Lifesciences Corp. | 13,395 | 907 |
* | Alkermes plc | 35,297 | 852 |
* | Intuitive Surgical Inc. | 2,715 | 844 |
Johnson & Johnson | 4,618 | 714 | |
* | Lantheus Holdings Inc. | 9,304 | 666 |
* | Molina Healthcare Inc. | 1,632 | 597 |
* | CorVel Corp. | 2,431 | 508 |
* | Haemonetics Corp. | 5,167 | 418 |
Bruker Corp. | 4,346 | 283 | |
* | Henry Schein Inc. | 4,099 | 274 |
* | Supernus Pharmaceuticals Inc. | 8,057 | 220 |
* | ANI Pharmaceuticals Inc. | 4,404 | 219 |
* | Hologic Inc. | 3,052 | 218 |
* | Incyte Corp. | 4,007 | 218 |
Patterson Cos. Inc. | 8,446 | 215 | |
* | Corcept Therapeutics Inc. | 7,299 | 186 |
* | Myriad Genetics Inc. | 8,815 | 168 |
* | OraSure Technologies Inc. | 22,316 | 163 |
* | Align Technology Inc. | 732 | 156 |
* | Shockwave Medical Inc. | 689 | 120 |
* | ACADIA Pharmaceuticals Inc. | 5,185 | 115 |
* | Zimvie Inc. | 9,528 | 90 |
* | AtriCure Inc. | 2,506 | 89 |
* | Catalyst Pharmaceuticals Inc. | 6,195 | 89 |
* | Tactile Systems Technology Inc. | 6,485 | 86 |
* | Mural Oncology plc | 1,839 | 7 |
25,129 | |||
Industrials (19.5%) | |||
Cintas Corp. | 5,285 | 2,924 | |
Paychex Inc. | 18,669 | 2,277 | |
Visa Inc. Class A | 8,434 | 2,165 | |
MSC Industrial Direct Co. Inc. Class A | 17,489 | 1,704 | |
Automatic Data Processing Inc. | 6,839 | 1,572 | |
American Express Co. | 9,016 | 1,540 | |
Donaldson Co. Inc. | 24,023 | 1,462 | |
Acuity Brands Inc. | 7,676 | 1,376 | |
* | Builders FirstSource Inc. | 10,055 | 1,348 |
* | PayPal Holdings Inc. | 23,316 | 1,343 |
Robert Half Inc. | 13,894 | 1,139 | |
Landstar System Inc. | 6,452 | 1,114 | |
Insperity Inc. | 9,631 | 1,096 | |
CH Robinson Worldwide Inc. | 12,467 | 1,023 | |
* | AMN Healthcare Services Inc. | 14,548 | 986 |
Caterpillar Inc. | 3,641 | 913 | |
Accenture plc Class A | 2,734 | 911 | |
Rockwell Automation Inc. | 3,133 | 863 | |
Simpson Manufacturing Co. Inc. | 4,830 | 806 | |
RPM International Inc. | 7,682 | 791 | |
Expeditors International of Washington Inc. | 6,356 | 765 | |
* | Trex Co. Inc. | 10,512 | 739 |
Synchrony Financial | 22,784 | 737 | |
Jack Henry & Associates Inc. | 3,719 | 590 | |
Watts Water Technologies Inc. Class A | 2,915 | 561 | |
A O Smith Corp. | 7,091 | 534 | |
Advanced Drainage Systems Inc. | 4,402 | 533 | |
Barrett Business Services Inc. | 4,819 | 530 | |
Mastercard Inc. Class A | 1,279 | 529 | |
WW Grainger Inc. | 672 | 528 | |
* | BlueLinx Holdings Inc. | 5,656 | 497 |
Shares | Market Value• ($000) | ||
Enerpac Tool Group Corp. | 16,551 | 452 | |
Kforce Inc. | 6,478 | 451 | |
Comfort Systems USA Inc. | 2,166 | 419 | |
EMCOR Group Inc. | 1,965 | 418 | |
* | Limbach Holdings Inc. | 10,928 | 417 |
* | GMS Inc. | 6,138 | 415 |
Apogee Enterprises Inc. | 9,186 | 414 | |
ManpowerGroup Inc. | 5,576 | 414 | |
Old Dominion Freight Line Inc. | 984 | 383 | |
* | Teekay Corp. | 51,069 | 352 |
* | Franklin Covey Co. | 8,969 | 349 |
Badger Meter Inc. | 2,349 | 346 | |
* | Proto Labs Inc. | 9,564 | 346 |
Toro Co. | 3,994 | 331 | |
Kadant Inc. | 1,236 | 322 | |
Applied Industrial Technologies Inc. | 1,994 | 319 | |
Lincoln Electric Holdings Inc. | 1,566 | 310 | |
* | Donnelley Financial Solutions Inc. | 5,144 | 304 |
Graco Inc. | 3,723 | 301 | |
* | Legalzoom.com Inc. | 25,436 | 293 |
* | Cross Country Healthcare Inc. | 14,186 | 288 |
* | MYR Group Inc. | 2,191 | 273 |
Ferguson plc | 1,568 | 269 | |
* | Atkore Inc. | 1,932 | 251 |
Resources Connection Inc. | 18,426 | 251 | |
Valmont Industries Inc. | 1,139 | 250 | |
* | TrueBlue Inc. | 17,115 | 239 |
* | TriNet Group Inc. | 2,048 | 237 |
Napco Security Technologies Inc. | 7,361 | 225 | |
Ardmore Shipping Corp. | 16,081 | 219 | |
* | Sterling Infrastructure Inc. | 3,438 | 218 |
* | XPO Inc. | 2,305 | 199 |
Owens Corning | 1,405 | 190 | |
Crane Co. | 1,761 | 186 | |
Powell Industries Inc. | 2,225 | 185 | |
Encore Wire Corp. | 989 | 182 | |
* | AeroVironment Inc. | 1,271 | 175 |
Snap-on Inc. | 566 | 155 | |
CRA International Inc. | 1,596 | 151 | |
* | Manitowoc Co. Inc. | 10,538 | 151 |
LSI Industries Inc. | 11,291 | 148 | |
Myers Industries Inc. | 8,052 | 142 | |
* | Beacon Roofing Supply Inc. | 1,758 | 141 |
Insteel Industries Inc. | 4,007 | 136 | |
Standex International Corp. | 887 | 119 | |
* | ExlService Holdings Inc. | 3,885 | 110 |
Shyft Group Inc. | 9,418 | 104 | |
Allison Transmission Holdings Inc. | 1,884 | 101 | |
Kelly Services Inc. Class A | 4,845 | 101 | |
Wabash National Corp. | 4,291 | 94 | |
Tennant Co. | 1,082 | 93 | |
REV Group Inc. | 5,820 | 92 | |
Crane NXT Co. | 1,742 | 90 | |
Watsco Inc. | 224 | 86 | |
Fortune Brands Innovations Inc. | 1,209 | 83 | |
* | Hudson Technologies Inc. | 6,610 | 82 |
* | Keysight Technologies Inc. | 526 | 71 |
Forward Air Corp. | 1,096 | 70 | |
Nordson Corp. | 286 | 67 | |
* | Titan International Inc. | 4,108 | 54 |
47,530 |
Shares | Market Value• ($000) | ||
Technology (20.8%) | |||
* | Adobe Inc. | 6,928 | 4,233 |
Apple Inc. | 20,210 | 3,839 | |
* | Autodesk Inc. | 17,240 | 3,766 |
QUALCOMM Inc. | 28,232 | 3,643 | |
* | Palo Alto Networks Inc. | 11,199 | 3,305 |
Lam Research Corp. | 4,445 | 3,182 | |
KLA Corp. | 5,744 | 3,128 | |
Microchip Technology Inc. | 34,086 | 2,844 | |
Applied Materials Inc. | 15,856 | 2,375 | |
* | Cadence Design Systems Inc. | 7,561 | 2,066 |
* | Qualys Inc. | 8,009 | 1,480 |
* | Meta Platforms Inc. Class A | 3,158 | 1,033 |
* | Manhattan Associates Inc. | 4,160 | 928 |
* | Gartner Inc. | 2,009 | 874 |
* | Teradata Corp. | 17,063 | 806 |
* | Synopsys Inc. | 1,299 | 706 |
* | Smartsheet Inc. Class A | 14,891 | 631 |
* | Vertiv Holdings Co. Class A | 14,308 | 625 |
* | Pure Storage Inc. Class A | 18,429 | 614 |
Teradyne Inc. | 6,269 | 578 | |
* | CommVault Systems Inc. | 7,788 | 573 |
A10 Networks Inc. | 45,631 | 570 | |
* | Photronics Inc. | 25,598 | 541 |
* | Cirrus Logic Inc. | 6,684 | 507 |
* | Atlassian Corp. Ltd. Class A | 2,650 | 506 |
* | Alphabet Inc. Class A | 3,811 | 505 |
NetApp Inc. | 5,321 | 486 | |
Hackett Group Inc. | 21,087 | 471 | |
Concentrix Corp. | 4,773 | 449 | |
* | F5 Inc. | 2,617 | 448 |
* | Pinterest Inc. Class A | 12,693 | 432 |
* | ON Semiconductor Corp. | 5,905 | 421 |
* | MaxLinear Inc. | 22,094 | 414 |
* | Axcelis Technologies Inc. | 3,124 | 388 |
* | Yelp Inc. | 7,023 | 307 |
* | DocuSign Inc. | 6,795 | 293 |
PC Connection Inc. | 4,075 | 243 | |
* | Appfolio Inc. Class A | 1,253 | 237 |
* | Cargurus Inc. | 10,749 | 232 |
* | Lattice Semiconductor Corp. | 3,756 | 220 |
Monolithic Power Systems Inc. | 388 | 213 | |
Amdocs Ltd. | 2,375 | 199 |
Shares | Market Value• ($000) | ||
* | Elastic NV | 2,250 | 181 |
* | Yext Inc. | 22,759 | 151 |
CSG Systems International Inc. | 2,962 | 146 | |
CTS Corp. | 3,682 | 143 | |
Paycom Software Inc. | 774 | 141 | |
* | Kyndryl Holdings Inc. | 7,793 | 141 |
* | EverQuote Inc. Class A | 11,547 | 121 |
* | OneSpan Inc. | 11,293 | 113 |
* | Super Micro Computer Inc. | 359 | 98 |
Microsoft Corp. | 171 | 65 | |
* | Fortinet Inc. | 1,069 | 56 |
Dolby Laboratories Inc. Class A | 582 | 50 | |
*,1 | Yandex NV Class A | 1,459 | — |
50,717 | |||
Telecommunications (1.2%) | |||
Cisco Systems Inc. | 40,045 | 1,937 | |
* | Extreme Networks Inc. | 29,380 | 474 |
* | IDT Corp. Class B | 14,274 | 419 |
* | Roku Inc. | 1,584 | 165 |
2,995 | |||
Total Common Stocks (Cost $224,032) | 242,394 | ||
Temporary Cash Investments (0.4%) | |||
Money Market Fund (0.4%) | |||
2 | Vanguard Market Liquidity Fund, 5.438% (Cost $937) | 9,367 | 937 |
Total Investments (99.8%) (Cost $224,969) | 243,331 | ||
Other Assets and Liabilities—Net (0.2%) | 395 | ||
Net Assets (100%) | 243,726 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Security value determined using significant unobservable inputs. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | December 2023 | 3 | 687 | 10 |
Micro E-mini S&P 500 Index | December 2023 | 16 | 366 | 5 |
15 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $224,032) | 242,394 |
Affiliated Issuers (Cost $937) | 937 |
Total Investments in Securities | 243,331 |
Investment in Vanguard | 8 |
Cash Collateral Pledged—Futures Contracts | 55 |
Receivables for Accrued Income | 345 |
Variation Margin Receivable—Futures Contracts | 4 |
Total Assets | 243,743 |
Liabilities | |
Payables for Investment Securities Purchased | 4 |
Payables to Vanguard | 13 |
Total Liabilities | 17 |
Net Assets | 243,726 |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 246,924 |
Total Distributable Earnings (Loss) | (3,198) |
Net Assets | 243,726 |
Net Assets | |
Applicable to 2,070,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 243,726 |
Net Asset Value Per Share | $117.74 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 3,885 |
Interest2 | 48 |
Securities Lending—Net | 5 |
Total Income | 3,938 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 64 |
Management and Administrative | 141 |
Marketing and Distribution | 13 |
Custodian Fees | 4 |
Auditing Fees | 28 |
Shareholders’ Reports | 27 |
Trustees’ Fees and Expenses | — |
Professional Services | 16 |
Total Expenses | 293 |
Expenses Paid Indirectly | (3) |
Net Expenses | 290 |
Net Investment Income | 3,648 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 10,754 |
Futures Contracts | 98 |
Realized Net Gain (Loss) | 10,852 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 526 |
Futures Contracts | (30) |
Change in Unrealized Appreciation (Depreciation) | 496 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 14,996 |
1 | Dividends are net of foreign withholding taxes of $8,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $45,000, less than $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $14,656,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 3,648 | 2,661 |
Realized Net Gain (Loss) | 10,852 | (6,545) |
Change in Unrealized Appreciation (Depreciation) | 496 | (9,078) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 14,996 | (12,962) |
Distributions | ||
Total Distributions | (3,512) | (2,385) |
Capital Share Transactions | ||
Issued | 74,318 | 108,666 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (48,124) | (30,853) |
Net Increase (Decrease) from Capital Share Transactions | 26,194 | 77,813 |
Total Increase (Decrease) | 37,678 | 62,466 |
Net Assets | ||
Beginning of Period | 206,048 | 143,582 |
End of Period | 243,726 | 206,048 |
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $111.98 | $122.20 | $94.79 | $84.21 | $78.58 |
Investment Operations | |||||
Net Investment Income1 | 1.818 | 1.562 | 1.403 | 1.291 | 1.199 |
Net Realized and Unrealized Gain (Loss) on Investments | 5.667 | (10.356) | 27.292 | 10.428 | 5.559 |
Total from Investment Operations | 7.485 | (8.794) | 28.695 | 11.719 | 6.758 |
Distributions | |||||
Dividends from Net Investment Income | (1.725) | (1.426) | (1.285) | (1.139) | (1.128) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.725) | (1.426) | (1.285) | (1.139) | (1.128) |
Net Asset Value, End of Period | $117.74 | $111.98 | $122.20 | $94.79 | $84.21 |
Total Return | 6.84% | -7.15% | 30.42% | 14.29% | 8.75% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $244 | $206 | $144 | $55 | $21 |
Ratio of Total Expenses to Average Net Assets | 0.13%2 | 0.13% | 0.13% | 0.13% | 0.13% |
Ratio of Net Investment Income to Average Net Assets | 1.64% | 1.43% | 1.21% | 1.59% | 1.52% |
Portfolio Turnover Rate | 55%3 | 49%3 | 56%3 | 58% | 80% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.13%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended November 30, 2023, custodian fee offset arrangements reduced the fund’s expenses by $3,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 242,394 | — | — | 242,394 |
Temporary Cash Investments | 937 | — | — | 937 |
Total | 243,331 | — | — | 243,331 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 15 | — | — | 15 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 14,656 |
Total Distributable Earnings (Loss) | (14,656) |
Amount ($000) | |
Undistributed Ordinary Income | 754 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 18,362 |
Capital Loss Carryforwards | (22,314) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (3,198) |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 3,512 | 2,385 |
Long-Term Capital Gains | — | — |
Total | 3,512 | 2,385 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 224,969 |
Gross Unrealized Appreciation | 27,369 |
Gross Unrealized Depreciation | (9,007) |
Net Unrealized Appreciation (Depreciation) | 18,362 |
F. | During the year ended November 30, 2023, the fund purchased $196,075,000 of investment securities and sold $169,941,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $48,145,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital shares issued and redeemed were: |
Year Ended November 30, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 665 | 950 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (435) | (285) |
Net Increase (Decrease) in Shares Outstanding | 230 | 665 |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Since Inception (2/13/2018) | Final Value of a $10,000 Investment | ||
U.S. Value Factor ETF Net Asset Value | 0.97% | 9.34% | 7.99% | $15,614 | |
U.S. Value Factor ETF Market Price | 1.02 | 9.33 | 7.99 | 15,612 | |
Russell 3000 Index | 12.61 | 11.77 | 11.02 | 18,324 |
One Year | Five Years | Since Inception (2/13/2018) | |
U.S. Value Factor ETF Market Price | 1.02% | 56.19% | 56.12% |
U.S. Value Factor ETF Net Asset Value | 0.97 | 56.26 | 56.14 |
Russell 3000 Index | 12.61 | 74.44 | 83.24 |
Basic Materials | 6.1% |
Consumer Discretionary | 17.8 |
Consumer Staples | 5.6 |
Energy | 11.9 |
Financials | 27.5 |
Health Care | 7.3 |
Industrials | 13.3 |
Real Estate | 0.3 |
Technology | 6.1 |
Telecommunications | 4.1 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Basic Materials (6.1%) | |||
Nucor Corp. | 16,722 | 2,842 | |
Dow Inc. | 51,660 | 2,673 | |
Celanese Corp. | 17,308 | 2,400 | |
Freeport-McMoRan Inc. | 62,395 | 2,329 | |
LyondellBasell Industries NV Class A | 23,928 | 2,276 | |
* | Cleveland-Cliffs Inc. | 121,392 | 2,083 |
Tronox Holdings plc | 103,833 | 1,324 | |
Mosaic Co. | 36,531 | 1,311 | |
Koppers Holdings Inc. | 25,870 | 1,168 | |
Ryerson Holding Corp. | 36,941 | 1,144 | |
* | US Silica Holdings Inc. | 96,984 | 1,094 |
Steel Dynamics Inc. | 9,147 | 1,090 | |
Olin Corp. | 22,535 | 1,062 | |
* | Clearwater Paper Corp. | 29,529 | 1,036 |
Huntsman Corp. | 40,678 | 1,001 | |
Mueller Industries Inc. | 22,870 | 950 | |
Sylvamo Corp. | 18,635 | 937 | |
AdvanSix Inc. | 30,092 | 786 | |
CF Industries Holdings Inc. | 10,164 | 764 | |
UFP Industries Inc. | 6,600 | 724 | |
United States Steel Corp. | 19,178 | 688 | |
Mativ Holdings Inc. | 58,031 | 679 | |
* | TimkenSteel Corp. | 31,614 | 642 |
Schnitzer Steel Industries Inc. Class A | 24,895 | 638 | |
Timken Co. | 8,578 | 621 | |
Commercial Metals Co. | 11,777 | 534 | |
Eastman Chemical Co. | 6,192 | 519 | |
SSR Mining Inc. (XTSE) | 39,654 | 468 | |
* | LSB Industries Inc. | 46,095 | 395 |
Olympic Steel Inc. | 6,840 | 387 | |
* | Intrepid Potash Inc. | 14,744 | 303 |
Chemours Co. | 9,800 | 269 | |
Boise Cascade Co. | 1,678 | 183 | |
Reliance Steel & Aluminum Co. | 608 | 167 | |
Element Solutions Inc. | 7,626 | 160 | |
International Paper Co. | 3,818 | 141 | |
Newmont Corp. (XNYS) | 3,084 | 124 | |
35,912 | |||
Consumer Discretionary (17.6%) | |||
General Motors Co. | 186,520 | 5,894 | |
Ford Motor Co. | 457,599 | 4,695 | |
* | American Airlines Group Inc. | 312,078 | 3,879 |
Macy's Inc. | 172,690 | 2,739 |
Shares | Market Value• ($000) | ||
* | Avis Budget Group Inc. | 12,701 | 2,322 |
Fox Corp. Class B | 83,644 | 2,314 | |
Newell Brands Inc. | 265,597 | 2,027 | |
Perdoceo Education Corp. | 114,066 | 1,987 | |
PulteGroup Inc. | 20,725 | 1,832 | |
* | AutoZone Inc. | 663 | 1,730 |
Gray Television Inc. | 220,986 | 1,708 | |
* | Taylor Morrison Home Corp. | 36,824 | 1,661 |
* | Goodyear Tire & Rubber Co. | 118,724 | 1,649 |
Lennar Corp. Class A | 12,780 | 1,635 | |
DR Horton Inc. | 12,574 | 1,605 | |
* | Penn Entertainment Inc. | 63,885 | 1,569 |
TEGNA Inc. | 96,844 | 1,485 | |
* | Liberty Media Corp.-Liberty SiriusXM Class C | 52,617 | 1,420 |
* | Alaska Air Group Inc. | 35,214 | 1,331 |
Bath & Body Works Inc. | 39,748 | 1,297 | |
Meritage Homes Corp. | 9,167 | 1,295 | |
U-Haul Holding Co. | 23,684 | 1,282 | |
Travel & Leisure Co. | 35,649 | 1,271 | |
* | Adient plc | 38,889 | 1,252 |
PVH Corp. | 12,752 | 1,247 | |
* | Tri Pointe Homes Inc. | 42,502 | 1,240 |
* | Beazer Homes USA Inc. | 46,436 | 1,222 |
Century Communities Inc. | 16,938 | 1,222 | |
Dana Inc. | 90,729 | 1,199 | |
Lennar Corp. Class B | 10,368 | 1,190 | |
* | Chegg Inc. | 115,852 | 1,150 |
Delta Air Lines Inc. | 30,874 | 1,140 | |
BorgWarner Inc. (XNYS) | 33,205 | 1,119 | |
* | G-III Apparel Group Ltd. | 38,600 | 1,111 |
Harley-Davidson Inc. | 35,344 | 1,060 | |
La-Z-Boy Inc. | 29,606 | 1,042 | |
* | Asbury Automotive Group Inc. | 4,948 | 1,038 |
* | AMC Networks Inc. Class A | 67,117 | 1,023 |
H&R Block Inc. | 22,502 | 1,022 | |
Academy Sports & Outdoors Inc. | 19,947 | 1,015 | |
* | AutoNation Inc. | 7,390 | 1,000 |
News Corp. Class A | 45,388 | 1,000 | |
Lear Corp. | 7,435 | 994 | |
Aaron's Co. Inc. | 112,033 | 987 | |
* | Sally Beauty Holdings Inc. | 101,242 | 979 |
MDC Holdings Inc. | 21,901 | 969 | |
Wolverine World Wide Inc. | 111,956 | 959 | |
Toll Brothers Inc. | 11,095 | 953 | |
* | M/I Homes Inc. | 8,931 | 942 |
* | SkyWest Inc. | 19,239 | 910 |
Shares | Market Value• ($000) | ||
* | United Airlines Holdings Inc. | 23,013 | 907 |
* | American Axle & Manufacturing Holdings Inc. | 127,294 | 886 |
Advance Auto Parts Inc. | 16,976 | 862 | |
Southwest Airlines Co. | 33,124 | 847 | |
* | Adtalem Global Education Inc. | 14,795 | 843 |
* | Caesars Entertainment Inc. | 18,018 | 806 |
KB Home | 15,163 | 790 | |
* | Stagwell Inc. | 156,985 | 788 |
Nexstar Media Group Inc. | 5,413 | 768 | |
* | ODP Corp. | 16,746 | 763 |
Hibbett Inc. | 12,057 | 754 | |
* | Solo Brands Inc. Class A | 140,363 | 731 |
* | Brinker International Inc. | 20,184 | 727 |
* | Liberty Media Corp.-Liberty SiriusXM Class A | 26,927 | 725 |
Allegiant Travel Co. | 9,685 | 663 | |
Scholastic Corp. | 17,176 | 653 | |
* | Malibu Boats Inc. Class A | 14,386 | 636 |
MillerKnoll Inc. | 23,501 | 606 | |
* | SeaWorld Entertainment Inc. | 12,281 | 601 |
Caleres Inc. | 19,534 | 593 | |
Boyd Gaming Corp. | 9,871 | 583 | |
Dine Brands Global Inc. | 13,357 | 581 | |
Marriott Vacations Worldwide Corp. | 7,951 | 580 | |
* | Green Brick Partners Inc. | 12,019 | 570 |
* | Hovnanian Enterprises Inc. Class A | 5,676 | 513 |
* | Tilly's Inc. Class A | 58,237 | 482 |
Upbound Group Inc. | 16,116 | 469 | |
* | MasterCraft Boat Holdings Inc. | 22,236 | 445 |
Haverty Furniture Cos. Inc. | 13,712 | 430 | |
Matthews International Corp. Class A | 12,602 | 430 | |
* | Playtika Holding Corp. | 48,462 | 421 |
* | Bally's Corp. | 35,604 | 410 |
Rush Enterprises Inc. Class A | 10,275 | 408 | |
* | Crocs Inc. | 3,625 | 383 |
* | EW Scripps Co. Class A | 53,979 | 373 |
* | Sun Country Airlines Holdings Inc. | 24,585 | 373 |
Movado Group Inc. | 13,823 | 361 | |
Target Corp. | 2,485 | 333 | |
* | Warner Bros Discovery Inc. | 31,258 | 327 |
Graham Holdings Co. Class B | 490 | 307 | |
Build-A-Bear Workshop Inc. | 10,999 | 269 | |
* | Hilton Grand Vacations Inc. | 7,424 | 254 |
* | iHeartMedia Inc. Class A | 91,235 | 239 |
Group 1 Automotive Inc. | 837 | 236 | |
LKQ Corp. | 5,184 | 231 | |
eBay Inc. | 5,573 | 229 | |
Sinclair Inc. | 16,641 | 210 | |
Tapestry Inc. | 6,613 | 209 | |
Jack in the Box Inc. | 2,627 | 190 | |
* | Sportsman's Warehouse Holdings Inc. | 33,626 | 162 |
Oxford Industries Inc. | 1,600 | 145 | |
* | 2U Inc. | 148,078 | 145 |
* | Liberty Media Corp.-Liberty Live Class A | 3,884 | 128 |
Shoe Carnival Inc. | 4,735 | 115 | |
* | Gannett Co. Inc. | 51,336 | 95 |
1 | Big 5 Sporting Goods Corp. | 15,024 | 89 |
Shares | Market Value• ($000) | ||
* | Fossil Group Inc. | 65,584 | 72 |
104,358 | |||
Consumer Staples (5.6%) | |||
Altria Group Inc. | 117,971 | 4,959 | |
McKesson Corp. | 10,442 | 4,914 | |
CVS Health Corp. | 57,515 | 3,908 | |
Archer-Daniels-Midland Co. | 47,609 | 3,510 | |
Molson Coors Beverage Co. Class B | 20,834 | 1,282 | |
Kraft Heinz Co. | 32,460 | 1,140 | |
Tyson Foods Inc. Class A | 20,679 | 969 | |
Walgreens Boots Alliance Inc. | 47,120 | 940 | |
J M Smucker Co. | 8,483 | 931 | |
* | Darling Ingredients Inc. | 20,584 | 903 |
Ingles Markets Inc. Class A | 10,454 | 853 | |
* | United Natural Foods Inc. | 57,907 | 843 |
Philip Morris International Inc. | 8,525 | 796 | |
Conagra Brands Inc. | 28,077 | 794 | |
Andersons Inc. | 15,239 | 760 | |
Vector Group Ltd. | 69,366 | 743 | |
General Mills Inc. | 11,547 | 735 | |
SpartanNash Co. | 30,234 | 670 | |
Seaboard Corp. | 187 | 657 | |
Kroger Co. | 12,956 | 574 | |
Ingredion Inc. | 4,832 | 495 | |
ACCO Brands Corp. | 76,619 | 412 | |
Fresh Del Monte Produce Inc. | 14,828 | 338 | |
* | Pilgrim's Pride Corp. | 11,187 | 286 |
B&G Foods Inc. | 29,009 | 268 | |
Edgewell Personal Care Co. | 5,129 | 178 | |
Nu Skin Enterprises Inc. Class A | 8,557 | 146 | |
33,004 | |||
Energy (11.8%) | |||
Phillips 66 | 35,799 | 4,614 | |
Marathon Petroleum Corp. | 25,860 | 3,858 | |
ConocoPhillips | 32,744 | 3,784 | |
Exxon Mobil Corp. | 36,614 | 3,762 | |
Chevron Corp. | 25,246 | 3,625 | |
Valero Energy Corp. | 28,673 | 3,595 | |
EOG Resources Inc. | 23,883 | 2,939 | |
Occidental Petroleum Corp. | 46,657 | 2,760 | |
Williams Cos. Inc. | 58,955 | 2,169 | |
* | Southwestern Energy Co. | 262,849 | 1,732 |
Chord Energy Corp. | 10,524 | 1,706 | |
Liberty Energy Inc. | 83,880 | 1,665 | |
SM Energy Co. | 44,128 | 1,653 | |
Coterra Energy Inc. | 62,882 | 1,651 | |
Cheniere Energy Inc. | 8,776 | 1,599 | |
Diamondback Energy Inc. | 10,066 | 1,554 | |
Helmerich & Payne Inc. | 38,204 | 1,384 | |
* | ProPetro Holding Corp. | 144,495 | 1,316 |
EQT Corp. | 31,996 | 1,279 | |
* | Gulfport Energy Corp. | 7,878 | 1,080 |
Matador Resources Co. | 18,630 | 1,078 | |
* | Antero Resources Corp. | 43,867 | 1,037 |
Marathon Oil Corp. | 40,705 | 1,035 | |
Arch Resources Inc. | 6,108 | 1,014 | |
PBF Energy Inc. Class A | 22,645 | 1,006 | |
HF Sinclair Corp. | 18,972 | 996 | |
Berry Corp. | 138,199 | 992 | |
DTE Midstream LLC | 16,868 | 966 | |
Devon Energy Corp. | 21,079 | 948 | |
California Resources Corp. | 17,555 | 899 | |
Ovintiv Inc. (XNYS) | 19,981 | 886 | |
Murphy Oil Corp. | 20,507 | 877 |
Shares | Market Value• ($000) | ||
* | Talos Energy Inc. | 55,836 | 777 |
Patterson-UTI Energy Inc. | 62,583 | 733 | |
Warrior Met Coal Inc. | 12,725 | 712 | |
SunCoke Energy Inc. | 72,563 | 676 | |
Delek US Holdings Inc. | 23,950 | 650 | |
* | Bristow Group Inc. | 23,512 | 605 |
* | Nabors Industries Ltd. (XNYS) | 6,929 | 602 |
Alpha Metallurgical Resources Inc. | 2,077 | 583 | |
Golar LNG Ltd. | 26,654 | 574 | |
CONSOL Energy Inc. | 4,426 | 472 | |
APA Corp. | 12,616 | 454 | |
* | REX American Resources Corp. | 9,116 | 447 |
SandRidge Energy Inc. | 29,209 | 403 | |
* | Kosmos Energy Ltd. | 52,489 | 356 |
Kinder Morgan Inc. | 19,815 | 348 | |
RPC Inc. | 42,674 | 309 | |
VAALCO Energy Inc. | 56,610 | 263 | |
Magnolia Oil & Gas Corp. Class A | 11,047 | 238 | |
World Kinect Corp. | 10,506 | 221 | |
* | Oil States International Inc. | 29,848 | 206 |
1 | Ramaco Resources Inc. Class A | 12,330 | 206 |
* | Par Pacific Holdings Inc. | 4,173 | 143 |
Equitrans Midstream Corp. | 14,948 | 140 | |
Ramaco Resources Inc. Class B | 7,979 | 119 | |
69,696 | |||
Financials (27.4%) | |||
Bank of America Corp. | 235,700 | 7,186 | |
Wells Fargo & Co. | 137,355 | 6,125 | |
Citigroup Inc. | 118,771 | 5,475 | |
US Bancorp | 136,377 | 5,199 | |
American International Group Inc. | 54,939 | 3,616 | |
JPMorgan Chase & Co. | 22,050 | 3,442 | |
Truist Financial Corp. | 106,855 | 3,434 | |
Bank of New York Mellon Corp. | 66,782 | 3,227 | |
Travelers Cos. Inc. | 15,901 | 2,872 | |
Prudential Financial Inc. | 29,116 | 2,847 | |
Essent Group Ltd. | 57,805 | 2,794 | |
MetLife Inc. | 42,346 | 2,694 | |
Webster Financial Corp. | 55,631 | 2,495 | |
Goldman Sachs Group Inc. | 7,011 | 2,395 | |
Unum Group | 52,743 | 2,268 | |
* | Brighthouse Financial Inc. | 38,238 | 1,990 |
Lincoln National Corp. | 82,233 | 1,956 | |
Columbia Banking System Inc. | 86,445 | 1,939 | |
Morgan Stanley | 24,123 | 1,914 | |
Synovus Financial Corp. | 61,864 | 1,905 | |
Western Alliance Bancorp | 34,681 | 1,776 | |
Chubb Ltd. | 7,549 | 1,732 | |
MGIC Investment Corp. | 97,280 | 1,711 | |
Ally Financial Inc. | 58,002 | 1,695 | |
Valley National Bancorp | 185,962 | 1,692 | |
PNC Financial Services Group Inc. | 12,552 | 1,681 | |
KeyCorp | 134,337 | 1,664 | |
Old National Bancorp | 110,170 | 1,640 | |
Radian Group Inc. | 61,665 | 1,585 | |
Zions Bancorp NA | 43,716 | 1,558 | |
Comerica Inc. | 33,976 | 1,536 | |
* | Enstar Group Ltd. | 5,450 | 1,497 |
Shares | Market Value• ($000) | ||
* | Customers Bancorp Inc. | 30,906 | 1,393 |
Prosperity Bancshares Inc. | 22,521 | 1,358 | |
Hancock Whitney Corp. | 32,314 | 1,333 | |
S&T Bancorp Inc. | 47,242 | 1,322 | |
FNB Corp. | 107,001 | 1,283 | |
Affiliated Managers Group Inc. | 8,999 | 1,220 | |
Corebridge Financial Inc. | 56,830 | 1,195 | |
Invesco Ltd. | 83,591 | 1,193 | |
Allstate Corp. | 8,534 | 1,177 | |
OceanFirst Financial Corp. | 83,899 | 1,163 | |
Enterprise Financial Services Corp. | 29,609 | 1,161 | |
* | Arch Capital Group Ltd. | 13,801 | 1,155 |
Jefferies Financial Group Inc. | 32,534 | 1,153 | |
WaFd Inc. | 42,090 | 1,125 | |
Renasant Corp. | 39,356 | 1,072 | |
First Financial Bancorp | 52,807 | 1,067 | |
BankUnited Inc. | 38,451 | 1,061 | |
M&T Bank Corp. | 8,113 | 1,040 | |
Axis Capital Holdings Ltd. | 18,291 | 1,031 | |
Heartland Financial USA Inc. | 33,133 | 1,025 | |
* | Metropolitan Bank Holding Corp. | 25,615 | 998 |
Cadence Bank | 39,483 | 989 | |
Fulton Financial Corp. | 67,443 | 960 | |
WesBanco Inc. | 35,204 | 937 | |
RenaissanceRe Holdings Ltd. | 4,360 | 935 | |
Hope Bancorp Inc. | 92,724 | 909 | |
Bank OZK | 21,695 | 908 | |
Old Republic International Corp. | 29,074 | 852 | |
Ameris Bancorp | 19,996 | 851 | |
Towne Bank | 31,669 | 832 | |
Associated Banc-Corp. | 46,577 | 826 | |
OneMain Holdings Inc. | 19,523 | 826 | |
Peoples Bancorp Inc. | 27,820 | 819 | |
Atlantic Union Bankshares Corp. | 26,588 | 813 | |
New York Community Bancorp Inc. | 85,786 | 807 | |
Regions Financial Corp. | 47,837 | 798 | |
First Busey Corp. | 36,561 | 793 | |
Fidelity National Financial Inc. | 17,659 | 792 | |
* | Genworth Financial Inc. Class A | 133,196 | 785 |
Provident Financial Services Inc. | 51,251 | 780 | |
First Citizens BancShares Inc. Class A | 513 | 753 | |
Pinnacle Financial Partners Inc. | 10,095 | 733 | |
Globe Life Inc. | 5,848 | 720 | |
Charles Schwab Corp. | 11,712 | 718 | |
Dime Community Bancshares Inc. | 35,013 | 704 | |
* | Axos Financial Inc. | 18,236 | 698 |
Stifel Financial Corp. | 11,285 | 689 | |
* | Mr Cooper Group Inc. | 11,123 | 673 |
Trustmark Corp. | 29,260 | 670 | |
Aflac Inc. | 8,032 | 664 | |
SouthState Corp. | 8,908 | 660 | |
Jackson Financial Inc. Class A | 13,127 | 627 | |
Navient Corp. | 36,079 | 618 | |
Cathay General Bancorp | 16,808 | 617 | |
East West Bancorp Inc. | 9,802 | 617 | |
Stewart Information Services Corp. | 12,897 | 609 |
Shares | Market Value• ($000) | ||
Veritex Holdings Inc. | 31,239 | 598 | |
CNA Financial Corp. | 14,143 | 596 | |
First Financial Corp. | 15,331 | 586 | |
TrustCo Bank Corp. NY | 21,286 | 571 | |
First American Financial Corp. | 9,541 | 569 | |
First Foundation Inc. | 96,385 | 567 | |
Univest Financial Corp. | 29,956 | 566 | |
Bank of NT Butterfield & Son Ltd. | 19,965 | 554 | |
United Bankshares Inc. | 16,260 | 538 | |
Universal Insurance Holdings Inc. | 31,715 | 538 | |
1st Source Corp. | 10,777 | 521 | |
NBT Bancorp Inc. | 14,613 | 519 | |
Raymond James Financial Inc. | 4,921 | 517 | |
Nelnet Inc. Class A | 6,040 | 507 | |
First Commonwealth Financial Corp. | 37,394 | 500 | |
Franklin Resources Inc. | 19,521 | 484 | |
TriCo Bancshares | 13,347 | 459 | |
Heritage Financial Corp. | 25,451 | 454 | |
Flushing Financial Corp. | 31,654 | 447 | |
Hartford Financial Services Group Inc. | 5,653 | 442 | |
BOK Financial Corp. | 6,089 | 437 | |
Equitable Holdings Inc. | 14,172 | 435 | |
Nicolet Bankshares Inc. | 5,864 | 432 | |
Everest Group Ltd. | 1,024 | 420 | |
* | NMI Holdings Inc. Class A | 15,035 | 413 |
First Bancorp (XNGS) | 12,792 | 401 | |
Janus Henderson Group plc | 15,233 | 399 | |
Citizens Financial Group Inc. | 14,607 | 398 | |
Principal Financial Group Inc. | 5,379 | 397 | |
Huntington Bancshares Inc. | 34,921 | 393 | |
Popular Inc. | 5,316 | 392 | |
* | StoneX Group Inc. | 6,306 | 385 |
Sandy Spring Bancorp Inc. | 16,940 | 373 | |
Brookline Bancorp Inc. | 38,374 | 366 | |
OFG Bancorp | 10,729 | 360 | |
Premier Financial Corp. | 17,379 | 347 | |
ConnectOne Bancorp Inc. | 17,246 | 339 | |
Pacific Premier Bancorp Inc. | 14,622 | 329 | |
PennyMac Financial Services Inc. | 4,071 | 317 | |
Eastern Bankshares Inc. | 25,725 | 308 | |
First Horizon Corp. | 23,054 | 295 | |
Carlyle Group Inc. | 8,482 | 291 | |
Berkshire Hills Bancorp Inc. | 13,512 | 283 | |
Hanover Insurance Group Inc. | 2,168 | 269 | |
Reinsurance Group of America Inc. | 1,639 | 267 | |
* | Markel Group Inc. | 181 | 260 |
ServisFirst Bancshares Inc. | 5,004 | 256 | |
Horizon Bancorp Inc. | 22,950 | 250 | |
CNO Financial Group Inc. | 9,049 | 240 | |
Banner Corp. | 5,160 | 233 | |
Simmons First National Corp. Class A | 14,056 | 225 | |
Northwest Bancshares Inc. | 19,714 | 220 | |
SLM Corp. | 13,986 | 210 | |
Discover Financial Services | 2,230 | 207 | |
Cullen/Frost Bankers Inc. | 2,077 | 204 | |
* | LendingClub Corp. | 31,406 | 198 |
Origin Bancorp Inc. | 6,062 | 193 | |
Byline Bancorp Inc. | 9,611 | 192 | |
First Merchants Corp. | 6,076 | 186 |
Shares | Market Value• ($000) | ||
* | Enova International Inc. | 4,468 | 184 |
Northfield Bancorp Inc. | 18,284 | 174 | |
Amalgamated Financial Corp. | 8,178 | 172 | |
First Bancshares Inc. | 6,629 | 170 | |
QCR Holdings Inc. | 3,298 | 164 | |
Eagle Bancorp Inc. | 6,827 | 162 | |
State Street Corp. | 2,122 | 155 | |
Enact Holdings Inc. | 5,535 | 153 | |
Home BancShares Inc. | 6,563 | 146 | |
Preferred Bank | 2,326 | 143 | |
Hanmi Financial Corp. | 8,302 | 138 | |
Employers Holdings Inc. | 3,556 | 136 | |
Selective Insurance Group Inc. | 1,269 | 129 | |
* | Berkshire Hathaway Inc. Class B | 346 | 125 |
Pathward Financial Inc. | 1,844 | 91 | |
161,942 | |||
Health Care (7.3%) | |||
* | Centene Corp. | 59,488 | 4,383 |
Cigna Group | 14,689 | 3,862 | |
HCA Healthcare Inc. | 14,815 | 3,711 | |
Bristol-Myers Squibb Co. | 64,168 | 3,169 | |
Gilead Sciences Inc. | 40,238 | 3,082 | |
Pfizer Inc. | 86,638 | 2,640 | |
Cardinal Health Inc. | 24,359 | 2,608 | |
Elevance Health Inc. | 5,073 | 2,433 | |
Humana Inc. | 4,542 | 2,202 | |
* | Regeneron Pharmaceuticals Inc. | 1,836 | 1,513 |
* | Elanco Animal Health Inc. (XNYS) | 126,306 | 1,488 |
* | Owens & Minor Inc. | 65,862 | 1,309 |
* | Jazz Pharmaceuticals plc | 10,523 | 1,244 |
* | United Therapeutics Corp. | 5,071 | 1,217 |
* | QuidelOrtho Corp. | 17,071 | 1,173 |
Royalty Pharma plc Class A | 34,739 | 940 | |
Universal Health Services Inc. Class B | 6,641 | 913 | |
* | AdaptHealth Corp. | 102,802 | 872 |
Embecta Corp. | 41,097 | 754 | |
Organon & Co. | 53,334 | 604 | |
DENTSPLY SIRONA Inc. | 16,850 | 535 | |
* | Amneal Pharmaceuticals Inc. | 97,485 | 420 |
* | Pediatrix Medical Group Inc. | 42,683 | 358 |
Premier Inc. Class A | 15,998 | 329 | |
Medtronic plc | 3,953 | 313 | |
Quest Diagnostics Inc. | 1,990 | 273 | |
* | Eagle Pharmaceuticals Inc. | 34,819 | 204 |
* | Integra LifeSciences Holdings Corp. | 4,680 | 183 |
* | Computer Programs and Systems Inc. | 16,515 | 174 |
* | Avanos Medical Inc. | 6,373 | 137 |
* | Zimvie Inc. | 14,073 | 133 |
43,176 | |||
Industrials (13.2%) | |||
FedEx Corp. | 19,423 | 5,027 | |
Capital One Financial Corp. | 34,509 | 3,853 | |
* | Fiserv Inc. | 25,142 | 3,284 |
Air Lease Corp. | 76,654 | 2,973 | |
Berry Global Group Inc. | 43,749 | 2,893 | |
* | Mohawk Industries Inc. | 31,179 | 2,753 |
Ryder System Inc. | 24,165 | 2,589 | |
Synchrony Financial | 59,139 | 1,914 |
Shares | Market Value• ($000) | ||
Fidelity National Information Services Inc. | 29,147 | 1,709 | |
General Dynamics Corp. | 6,745 | 1,666 | |
Matson Inc. | 17,265 | 1,653 | |
* | Gates Industrial Corp. plc | 131,568 | 1,613 |
Knight-Swift Transportation Holdings Inc. | 27,445 | 1,476 | |
ManpowerGroup Inc. | 19,494 | 1,447 | |
* | PayPal Holdings Inc. | 23,976 | 1,381 |
L3Harris Technologies Inc. | 7,071 | 1,349 | |
Global Payments Inc. | 9,941 | 1,158 | |
Teekay Tankers Ltd. Class A | 22,726 | 1,129 | |
* | BlueLinx Holdings Inc. | 12,281 | 1,079 |
Schneider National Inc. Class B | 45,518 | 1,048 | |
Genco Shipping & Trading Ltd. | 62,969 | 977 | |
* | Resideo Technologies Inc. | 54,976 | 903 |
Bread Financial Holdings Inc. | 31,133 | 875 | |
* | PagSeguro Digital Ltd. Class A | 82,502 | 832 |
Quanex Building Products Corp. | 26,390 | 813 | |
AGCO Corp. | 7,088 | 805 | |
Patrick Industries Inc. | 9,806 | 804 | |
* | Titan International Inc. | 61,059 | 798 |
Terex Corp. | 15,813 | 783 | |
Scorpio Tankers Inc. | 13,881 | 762 | |
Sensata Technologies Holding plc | 23,017 | 748 | |
Huntington Ingalls Industries Inc. | 3,089 | 732 | |
MDU Resources Group Inc. | 36,690 | 702 | |
Allison Transmission Holdings Inc. | 13,080 | 700 | |
Louisiana-Pacific Corp. | 11,400 | 695 | |
Herc Holdings Inc. | 5,495 | 679 | |
* | Atkore Inc. | 5,210 | 677 |
Ardmore Shipping Corp. | 49,343 | 671 | |
Deluxe Corp. | 36,339 | 665 | |
Acuity Brands Inc. | 3,648 | 654 | |
Regal Rexnord Corp. | 5,453 | 653 | |
International Seaways Inc. | 14,219 | 649 | |
* | Air Transport Services Group Inc. | 40,052 | 637 |
* | Conduent Inc. | 209,415 | 637 |
Owens Corning | 4,574 | 620 | |
* | Manitowoc Co. Inc. | 42,685 | 612 |
* | CoreCivic Inc. | 41,869 | 606 |
Textron Inc. | 7,766 | 595 | |
* | Cross Country Healthcare Inc. | 29,046 | 589 |
* | JELD-WEN Holding Inc. | 36,819 | 588 |
Wabash National Corp. | 26,756 | 586 | |
Brunswick Corp. | 7,057 | 557 | |
* | Hireright Holdings Corp. | 39,604 | 521 |
* | BrightView Holdings Inc. | 67,757 | 518 |
* | American Woodmark Corp. | 7,147 | 517 |
REV Group Inc. | 32,185 | 508 | |
Safe Bulkers Inc. | 128,333 | 498 | |
Costamare Inc. | 48,341 | 489 | |
* | Tutor Perini Corp. | 56,201 | 470 |
* | Alight Inc. Class A | 59,193 | 453 |
MKS Instruments Inc. | 5,480 | 452 | |
Insteel Industries Inc. | 13,207 | 449 | |
* | Repay Holdings Corp. | 59,074 | 443 |
Greif Inc. Class A | 6,189 | 433 | |
Dorian LPG Ltd. | 9,969 | 422 | |
* | Builders FirstSource Inc. | 3,124 | 419 |
Shares | Market Value• ($000) | ||
* | ASGN Inc. | 4,559 | 407 |
3M Co. | 3,965 | 393 | |
* | Titan Machinery Inc. | 16,090 | 368 |
* | Green Dot Corp. Class A | 45,758 | 367 |
Korn Ferry | 6,854 | 355 | |
ArcBest Corp. | 2,957 | 352 | |
Kelly Services Inc. Class A | 16,723 | 348 | |
SFL Corp. Ltd. | 29,495 | 335 | |
* | DXP Enterprises Inc. | 11,254 | 330 |
DHT Holdings Inc. | 32,563 | 324 | |
* | AMN Healthcare Services Inc. | 4,772 | 324 |
GATX Corp. | 2,809 | 306 | |
Resources Connection Inc. | 20,252 | 275 | |
* | StoneCo. Ltd. Class A | 16,844 | 263 |
* | Hillman Solutions Corp. | 31,837 | 233 |
First Advantage Corp. | 14,422 | 224 | |
Griffon Corp. | 4,686 | 218 | |
Covenant Logistics Group Inc. | 4,270 | 182 | |
* | Teekay Corp. | 26,051 | 180 |
EnerSys | 1,921 | 170 | |
TTEC Holdings Inc. | 8,982 | 168 | |
Kronos Worldwide Inc. | 16,810 | 147 | |
Werner Enterprises Inc. | 3,549 | 142 | |
Heidrick & Struggles International Inc. | 4,801 | 130 | |
* | Hub Group Inc. Class A | 1,656 | 125 |
Greenbrier Cos. Inc. | 3,286 | 124 | |
United Rentals Inc. | 139 | 66 | |
PACCAR Inc. | 518 | 48 | |
78,094 | |||
Real Estate (0.3%) | |||
Newmark Group Inc. Class A | 101,637 | 836 | |
* | Jones Lang LaSalle Inc. | 4,559 | 709 |
* | Anywhere Real Estate Inc. | 51,261 | 276 |
1,821 | |||
Technology (6.1%) | |||
QUALCOMM Inc. | 23,838 | 3,076 | |
HP Inc. | 99,273 | 2,913 | |
Concentrix Corp. | 29,751 | 2,796 | |
* | DXC Technology Co. | 119,734 | 2,770 |
* | TTM Technologies Inc. | 109,562 | 1,645 |
Hewlett Packard Enterprise Co. | 88,370 | 1,494 | |
* | Coherent Corp. | 35,953 | 1,323 |
* | RingCentral Inc. Class A | 46,126 | 1,313 |
* | Ziff Davis Inc. | 19,185 | 1,224 |
TD SYNNEX Corp. | 11,486 | 1,133 | |
International Business Machines Corp. | 6,260 | 993 | |
* | Synaptics Inc. | 9,620 | 974 |
Xerox Holdings Corp. | 68,579 | 959 | |
* | NCR Voyix Corp. | 56,452 | 885 |
Skyworks Solutions Inc. | 8,895 | 862 | |
* | Qorvo Inc. | 8,748 | 844 |
* | Dropbox Inc. Class A | 28,288 | 797 |
Amkor Technology Inc. | 25,036 | 705 | |
Adeia Inc. | 76,195 | 700 | |
Intel Corp. | 15,133 | 677 | |
Science Applications International Corp. | 5,587 | 656 | |
Vishay Intertechnology Inc. | 26,841 | 597 | |
* | Alpha & Omega Semiconductor Ltd. | 27,247 | 583 |
* | ScanSource Inc. | 15,204 | 508 |
Shares | Market Value• ($000) | ||
* | Consensus Cloud Solutions Inc. | 24,501 | 451 |
SS&C Technologies Holdings Inc. | 8,006 | 450 | |
Microchip Technology Inc. | 5,263 | 439 | |
* | Ultra Clean Holdings Inc. | 16,036 | 435 |
* | Sanmina Corp. | 8,404 | 421 |
* | NetScout Systems Inc. | 18,519 | 372 |
Dun & Bradstreet Holdings Inc. | 34,715 | 368 | |
* | Alphabet Inc. Class C | 2,623 | 351 |
* | Photronics Inc. | 15,383 | 325 |
* | Verint Systems Inc. | 13,136 | 323 |
Cognizant Technology Solutions Corp. Class A | 4,132 | 291 | |
Methode Electronics Inc. | 11,334 | 269 | |
* | E2open Parent Holdings Inc. | 70,389 | 256 |
* | Cohu Inc. | 7,717 | 245 |
* | SolarWinds Corp. | 17,241 | 200 |
* | Digital Turbine Inc. | 42,217 | 196 |
* | Arrow Electronics Inc. | 1,420 | 168 |
Immersion Corp. | 17,520 | 114 | |
36,101 | |||
Telecommunications (4.1%) | |||
Verizon Communications Inc. | 142,629 | 5,467 | |
AT&T Inc. | 252,526 | 4,184 | |
Comcast Corp. Class A | 93,653 | 3,923 | |
* | Charter Communications Inc. Class A | 6,839 | 2,736 |
T-Mobile US Inc. | 10,446 | 1,572 | |
Telephone and Data Systems Inc. | 70,408 | 1,387 |
Shares | Market Value• ($000) | ||
* | CommScope Holding Co. Inc. | 709,490 | 1,185 |
Cisco Systems Inc. | 19,870 | 961 | |
* | Liberty Latin America Ltd. Class C | 124,594 | 851 |
Cable One Inc. | 1,594 | 848 | |
Bel Fuse Inc. Class B | 14,982 | 811 | |
* | Liberty Latin America Ltd. Class A | 32,631 | 221 |
24,146 | |||
Total Common Stocks (Cost $590,794) | 588,250 | ||
Temporary Cash Investments (0.3%) | |||
Money Market Fund (0.3%) | |||
2,3 | Vanguard Market Liquidity Fund, 5.438% (Cost $1,887) | 18,871 | 1,887 |
Total Investments (99.8%) (Cost $592,681) | 590,137 | ||
Other Assets and Liabilities—Net (0.2%) | 1,246 | ||
Net Assets (100%) | 591,383 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $305,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $320,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | December 2023 | 10 | 2,288 | 142 |
Micro E-mini S&P 500 Index | December 2023 | 11 | 252 | 4 |
146 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $590,794) | 588,250 |
Affiliated Issuers (Cost $1,887) | 1,887 |
Total Investments in Securities | 590,137 |
Investment in Vanguard | 20 |
Cash Collateral Pledged—Futures Contracts | 128 |
Receivables for Investment Securities Sold | 25 |
Receivables for Accrued Income | 1,481 |
Variation Margin Receivable—Futures Contracts | 10 |
Total Assets | 591,801 |
Liabilities | |
Due to Custodian | 58 |
Payables for Investment Securities Purchased | 8 |
Collateral for Securities on Loan | 320 |
Payables to Vanguard | 32 |
Total Liabilities | 418 |
Net Assets | 591,383 |
1 Includes $305,000 of securities on loan. | |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 683,111 |
Total Distributable Earnings (Loss) | (91,728) |
Net Assets | 591,383 |
Net Assets | |
Applicable to 5,725,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 591,383 |
Net Asset Value Per Share | $103.30 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 16,538 |
Interest2 | 123 |
Securities Lending—Net | 26 |
Total Income | 16,687 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 169 |
Management and Administrative | 484 |
Marketing and Distribution | 33 |
Custodian Fees | 8 |
Auditing Fees | 28 |
Shareholders’ Reports | 35 |
Trustees’ Fees and Expenses | — |
Other Expenses | 16 |
Total Expenses | 773 |
Expenses Paid Indirectly | (2) |
Net Expenses | 771 |
Net Investment Income | 15,916 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 37,172 |
Futures Contracts | (102) |
Realized Net Gain (Loss) | 37,070 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (61,973) |
Futures Contracts | 131 |
Change in Unrealized Appreciation (Depreciation) | (61,842) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (8,856) |
1 | Dividends are net of foreign withholding taxes of $5,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $117,000, $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $69,063,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 15,916 | 13,988 |
Realized Net Gain (Loss) | 37,070 | 29,868 |
Change in Unrealized Appreciation (Depreciation) | (61,842) | (11,726) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (8,856) | 32,130 |
Distributions | ||
Total Distributions | (15,929) | (12,731) |
Capital Share Transactions | ||
Issued | 221,012 | 413,815 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (275,525) | (210,797) |
Net Increase (Decrease) from Capital Share Transactions | (54,513) | 203,018 |
Total Increase (Decrease) | (79,298) | 222,417 |
Net Assets | ||
Beginning of Period | 670,681 | 448,264 |
End of Period | 591,383 | 670,681 |
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $105.20 | $99.84 | $73.96 | $75.51 | $74.35 |
Investment Operations | |||||
Net Investment Income1 | 2.689 | 2.220 | 1.923 | 1.689 | 1.671 |
Net Realized and Unrealized Gain (Loss) on Investments | (1.898) | 5.212 | 25.644 | (1.634) | 1.053 |
Total from Investment Operations | .791 | 7.432 | 27.567 | .055 | 2.724 |
Distributions | |||||
Dividends from Net Investment Income | (2.691) | (2.072) | (1.687) | (1.605) | (1.564) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (2.691) | (2.072) | (1.687) | (1.605) | (1.564) |
Net Asset Value, End of Period | $103.30 | $105.20 | $99.84 | $73.96 | $75.51 |
Total Return | 0.97% | 7.63% | 37.51% | 0.70% | 3.83% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $591 | $671 | $448 | $133 | $81 |
Ratio of Total Expenses to Average Net Assets | 0.13%2 | 0.13%2 | 0.13% | 0.14%2 | 0.14%2 |
Ratio of Net Investment Income to Average Net Assets | 2.68% | 2.22% | 1.98% | 2.68% | 2.32% |
Portfolio Turnover Rate | 24%3 | 64%3 | 43%3 | 52%3 | 73% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.13%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended November 30, 2023, custodian fee offset arrangements reduced the fund’s expenses by $2,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These |
Amount ($000) | |
Paid-in Capital | 69,063 |
Total Distributable Earnings (Loss) | (69,063) |
Amount ($000) | |
Undistributed Ordinary Income | 3,053 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | (2,544) |
Capital Loss Carryforwards | (92,237) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | (91,728) |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 15,929 | 12,731 |
Long-Term Capital Gains | — | — |
Total | 15,929 | 12,731 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 592,681 |
Gross Unrealized Appreciation | 45,180 |
Gross Unrealized Depreciation | (47,724) |
Net Unrealized Appreciation (Depreciation) | (2,544) |
F. | During the year ended November 30, 2023, the fund purchased $361,009,000 of investment securities and sold $415,754,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $273,417,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital shares issued and redeemed were: |
Year Ended November 30, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 2,120 | 4,035 |
Issued in Lieu of Cash Distributions | — | — |
Redeemed | (2,770) | (2,150) |
Net Increase (Decrease) in Shares Outstanding | (650) | 1,885 |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
January 19, 2024
Fund | Percentage |
U.S. Minimum Volatility ETF | 91.1% |
U.S. Momentum Factor ETF | 86.1 |
U.S. Multifactor ETF | 97.5 |
U.S. Quality Factor ETF | 100.0 |
U.S. Value Factor ETF | 96.1 |
Fund | ($000) |
U.S. Minimum Volatility ETF | 1,941 |
U.S. Momentum Factor ETF | 3,438 |
U.S. Multifactor ETF | 3,596 |
U.S. Quality Factor ETF | 3,513 |
U.S. Value Factor ETF | 15,929 |
Fund | ($000) |
U.S. Minimum Volatility ETF | 6 |
U.S. Momentum Factor ETF | 17 |
U.S. Multifactor ETF | 9 |
U.S. Quality Factor ETF | 12 |
U.S. Value Factor ETF | 33 |
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Your Fund’s Performance at a Glance | 1 |
Advisor's Report | 2 |
About Your Fund’s Expenses | 4 |
Performance Summary | 6 |
Financial Statements | 8 |
• | Vanguard U.S. Multifactor Fund returned 3.19% for the 12 months ended November 30, 2023. It underperformed its benchmark, the Russell 3000 Index, which returned 12.61%. |
• | For much of the period, inflation continued to ease amid interest rate hikes by the Federal Reserve. Unexpected resilience in the labor market and consumer spending dialed back expectations of an imminent recession. Although the prospect of higher interest rates for longer and heightened geopolitical tensions weighed on market sentiment at times toward the close of the period, global stocks and bonds rallied in November. |
• | Three of the fund’s industry sectors contributed positively to relative performance. Our selection in industrials, a lack of exposure to utilities, and an underweight allocation to real estate all added to performance. |
• | Information technology detracted most from results, followed by energy, communication services, and financials. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 13.57% | 8.72% | 12.25% |
Russell 2000 Index (Small-caps) | -2.56 | 1.13 | 4.78 |
Russell 3000 Index (Broad U.S. market) | 12.61 | 8.26 | 11.77 |
FTSE All-World ex US Index (International) | 9.64 | 2.12 | 5.49 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | 1.32% | -4.46% | 0.79% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 4.28 | -0.96 | 2.03 |
FTSE Three-Month U.S. Treasury Bill Index | 5.12 | 2.08 | 1.85 |
CPI | |||
Consumer Price Index | 3.14% | 5.67% | 4.03% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended November 30, 2023 | |||
U.S. Multifactor Fund | Beginning Account Value 5/31/2023 | Ending Account Value 11/30/2023 | Expenses Paid During Period |
Based on Actual Fund Return | $1,000.00 | $1,130.70 | $0.96 |
Based on Hypothetical 5% Yearly Return | 1,000.00 | 1,024.17 | 0.91 |
Average Annual Total Returns Periods Ended November 30, 2023 | |||||
One Year | Five Years | Since Inception (2/15/2018) | Final Value of a $50,000 Investment | ||
U.S. Multifactor Fund | 3.19% | 8.78% | 7.33% | $75,315 | |
Russell 3000 Index | 12.61 | 11.77 | 10.53 | 89,248 |
Basic Materials | 4.3% |
Consumer Discretionary | 18.3 |
Consumer Staples | 5.0 |
Energy | 13.9 |
Financials | 15.0 |
Health Care | 8.8 |
Industrials | 17.9 |
Real Estate | 0.2 |
Technology | 14.5 |
Telecommunications | 2.1 |
Shares | Market Value• ($000) | ||
Common Stocks (98.6%) | |||
Basic Materials (4.3%) | |||
Nucor Corp. | 4,065 | 691 | |
Mueller Industries Inc. | 7,812 | 324 | |
UFP Industries Inc. | 2,477 | 272 | |
Steel Dynamics Inc. | 2,032 | 242 | |
Reliance Steel & Aluminum Co. | 854 | 235 | |
Olympic Steel Inc. | 3,241 | 183 | |
Boise Cascade Co. | 1,311 | 143 | |
LyondellBasell Industries NV Class A | 1,426 | 136 | |
CF Industries Holdings Inc. | 1,785 | 134 | |
Westlake Corp. | 1,046 | 134 | |
Commercial Metals Co. | 2,803 | 127 | |
* | US Silica Holdings Inc. | 11,003 | 124 |
Worthington Industries Inc. | 1,652 | 119 | |
Olin Corp. | 2,382 | 112 | |
Mosaic Co. | 1,854 | 67 | |
Freeport-McMoRan Inc. | 1,772 | 66 | |
Timken Co. | 823 | 60 | |
Southern Copper Corp. | 637 | 46 | |
Fastenal Co. | 556 | 33 | |
AdvanSix Inc. | 1,006 | 26 | |
* | TimkenSteel Corp. | 993 | 20 |
3,294 | |||
Consumer Discretionary (18.0%) | |||
* | Booking Holdings Inc. | 189 | 591 |
Walmart Inc. | 3,200 | 498 | |
TJX Cos. Inc. | 4,765 | 420 | |
H&R Block Inc. | 8,342 | 379 | |
Perdoceo Education Corp. | 21,587 | 376 | |
* | Airbnb Inc. Class A | 2,962 | 374 |
* | O'Reilly Automotive Inc. | 350 | 344 |
* | AutoZone Inc. | 115 | 300 |
* | Deckers Outdoor Corp. | 412 | 274 |
* | AutoNation Inc. | 1,978 | 268 |
PVH Corp. | 2,689 | 263 | |
PulteGroup Inc. | 2,655 | 235 | |
Lennar Corp. Class A | 1,782 | 228 | |
Scholastic Corp. | 5,728 | 218 | |
Meritage Homes Corp. | 1,426 | 201 | |
* | NVR Inc. | 32 | 197 |
Lennar Corp. Class B | 1,703 | 195 | |
Tempur Sealy International Inc. | 4,715 | 190 | |
Signet Jewelers Ltd. | 2,266 | 186 | |
Dillard's Inc. Class A | 533 | 185 | |
Murphy USA Inc. | 495 | 183 | |
Ethan Allen Interiors Inc. | 6,692 | 180 |
Shares | Market Value• ($000) | ||
DR Horton Inc. | 1,396 | 178 | |
Dick's Sporting Goods Inc. | 1,339 | 174 | |
* | Malibu Boats Inc. Class A | 3,681 | 163 |
Ralph Lauren Corp. | 1,255 | 162 | |
* | Cars.com Inc. | 8,659 | 161 |
* | Asbury Automotive Group Inc. | 733 | 154 |
La-Z-Boy Inc. | 4,351 | 153 | |
* | YETI Holdings Inc. | 3,600 | 153 |
Group 1 Automotive Inc. | 537 | 151 | |
Thor Industries Inc. | 1,529 | 151 | |
* | M/I Homes Inc. | 1,415 | 149 |
Toll Brothers Inc. | 1,718 | 148 | |
KB Home | 2,772 | 144 | |
Williams-Sonoma Inc. | 760 | 143 | |
Upbound Group Inc. | 4,886 | 142 | |
* | Stride Inc. | 2,346 | 142 |
* | 1-800-Flowers.com Inc. Class A | 15,589 | 138 |
* | Tri Pointe Homes Inc. | 4,696 | 137 |
Acushnet Holdings Corp. | 2,169 | 123 | |
eBay Inc. | 3,009 | 123 | |
* | Taylor Morrison Home Corp. | 2,734 | 123 |
MDC Holdings Inc. | 2,728 | 121 | |
Build-A-Bear Workshop Inc. | 4,930 | 120 | |
* | Urban Outfitters Inc. | 3,288 | 117 |
* | Green Brick Partners Inc. | 2,403 | 114 |
BorgWarner Inc. (XNYS) | 3,286 | 111 | |
* | ODP Corp. | 2,425 | 110 |
* | Royal Caribbean Cruises Ltd. | 1,002 | 108 |
MillerKnoll Inc. | 4,000 | 103 | |
Oxford Industries Inc. | 1,143 | 103 | |
* | Cavco Industries Inc. | 353 | 100 |
* | Adtalem Global Education Inc. | 1,740 | 99 |
Winnebago Industries Inc. | 1,525 | 99 | |
Lowe's Cos. Inc. | 491 | 98 | |
American Eagle Outfitters Inc. | 5,113 | 97 | |
Haverty Furniture Cos. Inc. | 3,085 | 97 | |
* | SkyWest Inc. | 2,000 | 95 |
* | Helen of Troy Ltd. | 900 | 95 |
Penske Automotive Group Inc. | 629 | 94 | |
* | Expedia Group Inc. | 681 | 93 |
* | Abercrombie & Fitch Co. Class A | 1,200 | 91 |
Movado Group Inc. | 3,434 | 90 | |
Jack in the Box Inc. | 1,213 | 88 | |
Caleres Inc. | 2,800 | 85 | |
* | Brinker International Inc. | 2,325 | 84 |
* | Playtika Holding Corp. | 9,677 | 84 |
Guess? Inc. | 3,776 | 83 | |
Monarch Casino & Resort Inc. | 1,323 | 83 |
Shares | Market Value• ($000) | ||
Academy Sports & Outdoors Inc. | 1,612 | 82 | |
* | Skechers USA Inc. Class A | 1,350 | 80 |
Hibbett Inc. | 1,270 | 79 | |
Steelcase Inc. Class A | 5,714 | 70 | |
Travel & Leisure Co. | 1,926 | 69 | |
International Game Technology plc | 2,520 | 67 | |
Buckle Inc. | 1,659 | 64 | |
* | elf Beauty Inc. | 544 | 64 |
* | Skyline Champion Corp. | 1,007 | 61 |
* | Dream Finders Homes Inc. Class A | 2,500 | 61 |
* | G-III Apparel Group Ltd. | 2,006 | 58 |
Rush Enterprises Inc. Class A | 1,431 | 57 | |
PriceSmart Inc. | 774 | 52 | |
Matthews International Corp. Class A | 1,487 | 51 | |
Century Communities Inc. | 698 | 50 | |
Bloomin' Brands Inc. | 2,070 | 48 | |
Sonic Automotive Inc. Class A | 936 | 48 | |
* | SeaWorld Entertainment Inc. | 971 | 47 |
Best Buy Co. Inc. | 646 | 46 | |
Gap Inc. | 2,264 | 45 | |
Nexstar Media Group Inc. | 312 | 44 | |
Shoe Carnival Inc. | 1,771 | 43 | |
Boyd Gaming Corp. | 717 | 42 | |
LKQ Corp. | 910 | 41 | |
Tapestry Inc. | 1,308 | 41 | |
Bath & Body Works Inc. | 1,202 | 39 | |
* | American Axle & Manufacturing Holdings Inc. | 5,152 | 36 |
Inter Parfums Inc. | 290 | 36 | |
* | Crocs Inc. | 327 | 35 |
* | MasterCraft Boat Holdings Inc. | 1,709 | 34 |
News Corp. Class B | 1,400 | 32 | |
* | Turtle Beach Corp. | 2,628 | 30 |
* | Beazer Homes USA Inc. | 1,091 | 29 |
Strategic Education Inc. | 289 | 26 | |
* | Destination XL Group Inc. | 6,825 | 26 |
* | Grand Canyon Education Inc. | 181 | 25 |
Garmin Ltd. | 205 | 25 | |
Omnicom Group Inc. | 194 | 16 | |
13,858 | |||
Consumer Staples (4.9%) | |||
McKesson Corp. | 1,661 | 782 | |
Altria Group Inc. | 11,623 | 489 | |
Ingles Markets Inc. Class A | 5,013 | 409 | |
Philip Morris International Inc. | 3,051 | 285 | |
Kroger Co. | 5,555 | 246 | |
Kimberly-Clark Corp. | 1,374 | 170 | |
Casey's General Stores Inc. | 576 | 159 | |
Molson Coors Beverage Co. Class B | 2,518 | 155 | |
Coca-Cola Consolidated Inc. | 200 | 147 | |
* | Performance Food Group Co. | 2,207 | 143 |
Weis Markets Inc. | 2,322 | 140 | |
Cal-Maine Foods Inc. | 2,470 | 118 | |
Cencora Inc. | 534 | 109 | |
* | Sprouts Farmers Market Inc. | 2,539 | 109 |
Vector Group Ltd. | 9,569 | 102 | |
SpartanNash Co. | 4,059 | 90 | |
John B Sanfilippo & Son Inc. | 697 | 64 | |
Dole plc | 4,335 | 50 | |
Edgewell Personal Care Co. | 591 | 21 | |
3,788 |
Shares | Market Value• ($000) | ||
Energy (13.7%) | |||
EOG Resources Inc. | 7,071 | 870 | |
ConocoPhillips | 5,554 | 642 | |
Exxon Mobil Corp. | 6,130 | 630 | |
Marathon Petroleum Corp. | 4,113 | 614 | |
Valero Energy Corp. | 4,037 | 506 | |
Occidental Petroleum Corp. | 7,490 | 443 | |
Chord Energy Corp. | 2,262 | 367 | |
Cheniere Energy Inc. | 1,878 | 342 | |
Phillips 66 | 2,461 | 317 | |
Northern Oil and Gas Inc. | 7,679 | 287 | |
Chevron Corp. | 1,533 | 220 | |
* | Helix Energy Solutions Group Inc. | 21,045 | 196 |
Matador Resources Co. | 3,321 | 192 | |
* | Weatherford International plc | 2,080 | 189 |
* | Par Pacific Holdings Inc. | 5,145 | 176 |
Select Water Solutions Inc. | 22,997 | 172 | |
Warrior Met Coal Inc. | 3,063 | 171 | |
HF Sinclair Corp. | 3,250 | 171 | |
Civitas Resources Inc. | 2,454 | 169 | |
PBF Energy Inc. Class A | 3,758 | 167 | |
ChampionX Corp. | 5,537 | 162 | |
CONSOL Energy Inc. | 1,497 | 160 | |
Range Resources Corp. | 4,853 | 158 | |
* | Newpark Resources Inc. | 21,751 | 151 |
Diamondback Energy Inc. | 918 | 142 | |
* | Gulfport Energy Corp. | 1,038 | 142 |
Helmerich & Payne Inc. | 3,900 | 141 | |
Magnolia Oil & Gas Corp. Class A | 6,555 | 141 | |
Marathon Oil Corp. | 5,522 | 140 | |
* | ProPetro Holding Corp. | 15,357 | 140 |
Murphy Oil Corp. | 3,240 | 139 | |
* | REX American Resources Corp. | 2,788 | 137 |
RPC Inc. | 18,690 | 135 | |
Liberty Energy Inc. | 6,754 | 134 | |
SunCoke Energy Inc. | 13,933 | 130 | |
Permian resources Corp. | 9,902 | 130 | |
Coterra Energy Inc. | 4,890 | 128 | |
Chesapeake Energy Corp. | 1,526 | 122 | |
Arch Resources Inc. | 711 | 118 | |
EQT Corp. | 2,541 | 101 | |
* | CNX Resources Corp. | 4,778 | 100 |
California Resources Corp. | 1,913 | 98 | |
* | DMC Global Inc. | 5,794 | 92 |
Solaris Oilfield Infrastructure Inc. Class A | 10,619 | 91 | |
* | Southwestern Energy Co. | 12,274 | 81 |
Berry Corp. | 10,600 | 76 | |
CVR Energy Inc. | 2,383 | 76 | |
* | NOW Inc. | 6,182 | 62 |
SandRidge Energy Inc. | 4,460 | 62 | |
* | Expro Group Holdings NV | 3,578 | 56 |
Devon Energy Corp. | 1,145 | 51 | |
* | Oil States International Inc. | 6,359 | 44 |
Equitrans Midstream Corp. | 3,878 | 36 | |
Ovintiv Inc. (XNYS) | 654 | 29 | |
10,546 | |||
Financials (14.8%) | |||
American International Group Inc. | 10,017 | 659 | |
Aflac Inc. | 7,431 | 615 | |
OFG Bancorp | 13,273 | 445 | |
Old Republic International Corp. | 15,158 | 444 | |
MGIC Investment Corp. | 24,937 | 439 | |
JPMorgan Chase & Co. | 2,499 | 390 |
Shares | Market Value• ($000) | ||
Wells Fargo & Co. | 7,873 | 351 | |
Primerica Inc. | 1,561 | 327 | |
Ameriprise Financial Inc. | 910 | 322 | |
First BanCorp (XNYS) | 18,753 | 281 | |
Navient Corp. | 16,124 | 276 | |
CNO Financial Group Inc. | 9,882 | 262 | |
Pathward Financial Inc. | 5,200 | 258 | |
Enact Holdings Inc. | 9,267 | 257 | |
Unum Group | 5,929 | 255 | |
* | NMI Holdings Inc. Class A | 9,114 | 251 |
Employers Holdings Inc. | 6,323 | 242 | |
Hartford Financial Services Group Inc. | 2,964 | 232 | |
* | Genworth Financial Inc. Class A | 38,111 | 225 |
* | Mr Cooper Group Inc. | 3,640 | 220 |
Jefferies Financial Group Inc. | 6,188 | 219 | |
Radian Group Inc. | 8,360 | 215 | |
OneMain Holdings Inc. | 4,810 | 203 | |
First Citizens BancShares Inc. Class A | 137 | 201 | |
International Bancshares Corp. | 4,416 | 198 | |
PennyMac Financial Services Inc. | 2,457 | 191 | |
Popular Inc. | 2,480 | 183 | |
* | Arch Capital Group Ltd. | 2,188 | 183 |
S&T Bancorp Inc. | 6,290 | 176 | |
Apollo Global Management Inc. | 1,567 | 144 | |
Affiliated Managers Group Inc. | 1,039 | 141 | |
* | Axos Financial Inc. | 3,529 | 135 |
Victory Capital Holdings Inc. Class A | 4,015 | 129 | |
Bank OZK | 3,018 | 126 | |
Principal Financial Group Inc. | 1,657 | 122 | |
Discover Financial Services | 1,244 | 116 | |
SLM Corp. | 7,503 | 113 | |
LPL Financial Holdings Inc. | 495 | 110 | |
Federal Agricultural Mortgage Corp. Class C | 650 | 108 | |
Preferred Bank | 1,732 | 107 | |
1st Source Corp. | 2,132 | 103 | |
Bank of New York Mellon Corp. | 2,044 | 99 | |
Bank of NT Butterfield & Son Ltd. | 3,537 | 98 | |
Evercore Inc. Class A | 588 | 87 | |
WaFd Inc. | 3,015 | 81 | |
Equitable Holdings Inc. | 2,592 | 80 | |
QCR Holdings Inc. | 1,589 | 79 | |
Old Second Bancorp Inc. | 5,516 | 78 | |
Banc of California Inc. | 6,000 | 69 | |
Voya Financial Inc. | 958 | 69 | |
Eagle Bancorp Inc. | 2,842 | 67 | |
City Holding Co. | 688 | 66 | |
Fidelity National Financial Inc. | 1,472 | 66 | |
* | Brighthouse Financial Inc. | 1,137 | 59 |
Park National Corp. | 505 | 56 | |
ConnectOne Bancorp Inc. | 2,670 | 53 | |
Assured Guaranty Ltd. | 775 | 53 | |
Central Pacific Financial Corp. | 2,577 | 45 | |
Hanmi Financial Corp. | 2,664 | 44 | |
Nelnet Inc. Class A | 371 | 31 | |
Artisan Partners Asset Management Inc. Class A | 500 | 19 | |
Piper Sandler Cos. | 121 | 19 | |
TrustCo Bank Corp. NY | 713 | 19 | |
White Mountains Insurance Group Ltd. | 11 | 17 |
Shares | Market Value• ($000) | ||
* | Credit Acceptance Corp. | 36 | 16 |
11,344 | |||
Health Care (8.7%) | |||
HCA Healthcare Inc. | 3,320 | 832 | |
* | Align Technology Inc. | 3,455 | 739 |
Gilead Sciences Inc. | 7,910 | 606 | |
Elevance Health Inc. | 917 | 440 | |
Merck & Co. Inc. | 4,215 | 432 | |
* | Vertex Pharmaceuticals Inc. | 1,193 | 423 |
Humana Inc. | 840 | 407 | |
AbbVie Inc. | 2,264 | 322 | |
Cardinal Health Inc. | 2,987 | 320 | |
* | Regeneron Pharmaceuticals Inc. | 345 | 284 |
Cigna Group | 804 | 211 | |
* | Medpace Holdings Inc. | 741 | 201 |
* | Catalyst Pharmaceuticals Inc. | 12,131 | 175 |
Eli Lilly & Co. | 291 | 172 | |
* | OraSure Technologies Inc. | 21,452 | 157 |
* | United Therapeutics Corp. | 593 | 142 |
* | Owens & Minor Inc. | 6,100 | 121 |
* | Amneal Pharmaceuticals Inc. | 25,768 | 111 |
* | Collegium Pharmaceutical Inc. | 3,968 | 102 |
* | Lantheus Holdings Inc. | 1,209 | 87 |
* | PetIQ Inc. | 4,876 | 85 |
* | Molina Healthcare Inc. | 146 | 53 |
* | Centene Corp. | 683 | 50 |
* | Corcept Therapeutics Inc. | 1,733 | 44 |
* | Jazz Pharmaceuticals plc | 363 | 43 |
* | Henry Schein Inc. | 612 | 41 |
West Pharmaceutical Services Inc. | 96 | 34 | |
LeMaitre Vascular Inc. | 359 | 19 | |
6,653 | |||
Industrials (17.6%) | |||
* | Builders FirstSource Inc. | 3,221 | 432 |
Caterpillar Inc. | 1,692 | 424 | |
FedEx Corp. | 1,425 | 369 | |
MSC Industrial Direct Co. Inc. Class A | 3,213 | 313 | |
* | Fiserv Inc. | 2,333 | 305 |
Kelly Services Inc. Class A | 12,569 | 261 | |
* | XPO Inc. | 2,841 | 245 |
Parker-Hannifin Corp. | 550 | 238 | |
Carrier Global Corp. | 4,300 | 223 | |
United Rentals Inc. | 467 | 222 | |
EMCOR Group Inc. | 1,009 | 214 | |
American Express Co. | 1,237 | 211 | |
Owens Corning | 1,544 | 209 | |
* | Modine Manufacturing Co. | 4,139 | 204 |
* | GMS Inc. | 2,820 | 191 |
* | Atkore Inc. | 1,344 | 175 |
PACCAR Inc. | 1,894 | 174 | |
Dorian LPG Ltd. | 4,107 | 174 | |
Ryder System Inc. | 1,583 | 170 | |
Crane NXT Co. | 3,288 | 169 | |
Deluxe Corp. | 9,211 | 168 | |
* | Saia Inc. | 430 | 168 |
* | American Woodmark Corp. | 2,313 | 167 |
Landstar System Inc. | 933 | 161 | |
* | JELD-WEN Holding Inc. | 9,899 | 158 |
Patrick Industries Inc. | 1,929 | 158 | |
Synchrony Financial | 4,866 | 157 | |
Allison Transmission Holdings Inc. | 2,925 | 156 | |
Ardmore Shipping Corp. | 11,409 | 155 |
Shares | Market Value• ($000) | ||
DHT Holdings Inc. | 15,385 | 153 | |
Carlisle Cos. Inc. | 543 | 152 | |
* | TopBuild Corp. | 511 | 151 |
Applied Industrial Technologies Inc. | 898 | 144 | |
Nordic American Tankers Ltd. | 36,723 | 143 | |
Moog Inc. Class A | 1,011 | 142 | |
Griffon Corp. | 3,026 | 141 | |
Teekay Tankers Ltd. Class A | 2,785 | 138 | |
Terex Corp. | 2,686 | 133 | |
Encore Wire Corp. | 715 | 132 | |
EnerSys | 1,459 | 129 | |
* | Teekay Corp. | 18,662 | 129 |
International Seaways Inc. | 2,761 | 126 | |
* | Euronet Worldwide Inc. | 1,365 | 119 |
* | Manitowoc Co. Inc. | 8,129 | 117 |
* | WEX Inc. | 665 | 117 |
ArcBest Corp. | 970 | 116 | |
Covenant Logistics Group Inc. | 2,715 | 116 | |
Comfort Systems USA Inc. | 595 | 115 | |
Hubbell Inc. | 383 | 115 | |
Resources Connection Inc. | 8,396 | 114 | |
* | MYR Group Inc. | 896 | 112 |
Watts Water Technologies Inc. Class A | 573 | 110 | |
Scorpio Tankers Inc. | 1,998 | 110 | |
Insteel Industries Inc. | 3,217 | 109 | |
* | AAR Corp. | 1,549 | 107 |
Brunswick Corp. | 1,346 | 106 | |
Preformed Line Products Co. | 850 | 106 | |
Badger Meter Inc. | 703 | 104 | |
* | Sterling Infrastructure Inc. | 1,633 | 104 |
Barrett Business Services Inc. | 935 | 103 | |
* | Hub Group Inc. Class A | 1,364 | 103 |
Genco Shipping & Trading Ltd. | 6,625 | 103 | |
Quanex Building Products Corp. | 3,255 | 100 | |
Esab Corp. | 1,296 | 100 | |
* | Gibraltar Industries Inc. | 1,447 | 97 |
AGCO Corp. | 858 | 97 | |
Greif Inc. Class A | 1,330 | 93 | |
Snap-on Inc. | 334 | 92 | |
Apogee Enterprises Inc. | 2,021 | 91 | |
Acuity Brands Inc. | 496 | 89 | |
Matson Inc. | 915 | 88 | |
* | Thermon Group Holdings Inc. | 2,912 | 88 |
Wabash National Corp. | 3,997 | 88 | |
Old Dominion Freight Line Inc. | 220 | 86 | |
Simpson Manufacturing Co. Inc. | 508 | 85 | |
Louisiana-Pacific Corp. | 1,377 | 84 | |
Schneider National Inc. Class B | 3,667 | 84 | |
LSI Industries Inc. | 6,339 | 83 | |
Argan Inc. | 1,637 | 76 | |
WW Grainger Inc. | 94 | 74 | |
* | Beacon Roofing Supply Inc. | 902 | 73 |
Western Union Co. | 6,166 | 72 | |
JB Hunt Transport Services Inc. | 384 | 71 | |
Marten Transport Ltd. | 3,756 | 71 | |
Kforce Inc. | 1,003 | 70 | |
Visa Inc. Class A | 271 | 70 | |
Kennametal Inc. | 2,841 | 66 | |
Knight-Swift Transportation Holdings Inc. | 1,207 | 65 | |
Eaton Corp. plc | 285 | 65 | |
Belden Inc. | 853 | 57 | |
Kadant Inc. | 215 | 56 | |
* | Cross Country Healthcare Inc. | 2,677 | 54 |
Shares | Market Value• ($000) | ||
Vontier Corp. | 1,500 | 51 | |
Watsco Inc. | 132 | 50 | |
Expeditors International of Washington Inc. | 393 | 47 | |
nVent Electric plc | 876 | 47 | |
Franklin Electric Co. Inc. | 516 | 46 | |
REV Group Inc. | 2,845 | 45 | |
Packaging Corp. of America | 264 | 44 | |
* | DXP Enterprises Inc. | 1,482 | 43 |
Graphic Packaging Holding Co. | 1,693 | 38 | |
General Electric Co. | 308 | 38 | |
Berry Global Group Inc. | 510 | 34 | |
* | Masonite International Corp. | 380 | 34 |
* | TriNet Group Inc. | 296 | 34 |
Johnson Controls International plc | 578 | 31 | |
ITT Inc. | 264 | 29 | |
* | O-I Glass Inc. | 1,739 | 26 |
Valmont Industries Inc. | 115 | 25 | |
Robert Half Inc. | 266 | 22 | |
Standex International Corp. | 161 | 22 | |
H&E Equipment Services Inc. | 462 | 20 | |
Myers Industries Inc. | 1,162 | 20 | |
WESCO International Inc. | 111 | 17 | |
13,538 | |||
Real Estate (0.2%) | |||
St. Joe Co. | 2,011 | 103 | |
* | GEO Group Inc. | 4,482 | 46 |
149 | |||
Technology (14.3%) | |||
* | Meta Platforms Inc. Class A | 2,020 | 661 |
Applied Materials Inc. | 4,294 | 643 | |
* | Alphabet Inc. Class C | 4,524 | 606 |
Lam Research Corp. | 843 | 604 | |
Microchip Technology Inc. | 7,140 | 596 | |
Oracle Corp. | 4,838 | 562 | |
* | Adobe Inc. | 905 | 553 |
KLA Corp. | 919 | 500 | |
* | Salesforce Inc. | 1,772 | 446 |
Broadcom Inc. | 452 | 418 | |
* | Alphabet Inc. Class A | 2,940 | 390 |
Jabil Inc. | 3,160 | 364 | |
* | Synopsys Inc. | 600 | 326 |
* | Cadence Design Systems Inc. | 1,091 | 298 |
* | Palo Alto Networks Inc. | 1,000 | 295 |
* | ON Semiconductor Corp. | 3,040 | 217 |
* | Axcelis Technologies Inc. | 1,688 | 210 |
* | Photronics Inc. | 9,882 | 209 |
* | Rambus Inc. | 2,902 | 196 |
Amkor Technology Inc. | 6,665 | 188 | |
* | Kyndryl Holdings Inc. | 9,168 | 165 |
Amdocs Ltd. | 1,944 | 163 | |
* | Cohu Inc. | 5,088 | 161 |
* | Dropbox Inc. Class A | 5,300 | 149 |
International Business Machines Corp. | 906 | 144 | |
* | Super Micro Computer Inc. | 503 | 138 |
NVIDIA Corp. | 280 | 131 | |
Vishay Intertechnology Inc. | 5,092 | 113 | |
* | Arrow Electronics Inc. | 935 | 111 |
Hewlett Packard Enterprise Co. | 6,495 | 110 | |
* | LiveRamp Holdings Inc. | 3,300 | 109 |
Monolithic Power Systems Inc. | 193 | 106 | |
* | Mitek Systems Inc. | 8,290 | 94 |
Kulicke & Soffa Industries Inc. | 1,758 | 91 | |
* | Sanmina Corp. | 1,762 | 88 |
Shares | Market Value• ($000) | ||
* | Insight Enterprises Inc. | 532 | 81 |
HP Inc. | 2,684 | 79 | |
PC Connection Inc. | 1,235 | 74 | |
* | Daktronics Inc. | 6,739 | 70 |
* | Diodes Inc. | 1,043 | 69 |
Adeia Inc. | 7,284 | 67 | |
Cognizant Technology Solutions Corp. Class A | 850 | 60 | |
TD SYNNEX Corp. | 494 | 49 | |
Hackett Group Inc. | 2,074 | 46 | |
* | Manhattan Associates Inc. | 192 | 43 |
* | ePlus Inc. | 558 | 35 |
CTS Corp. | 887 | 34 | |
Skyworks Solutions Inc. | 356 | 34 | |
* | Squarespace Inc. Class A | 1,129 | 32 |
Xerox Holdings Corp. | 2,060 | 29 | |
10,957 | |||
Telecommunications (2.1%) | |||
Cisco Systems Inc. | 12,247 | 592 | |
Comcast Corp. Class A | 8,941 | 375 | |
* | Charter Communications Inc. Class A | 470 | 188 |
* | Extreme Networks Inc. | 7,369 | 119 |
Spok Holdings Inc. | 6,394 | 107 |
Shares | Market Value• ($000) | ||
* | Arista Networks Inc. | 463 | 102 |
Bel Fuse Inc. Class B | 1,799 | 97 | |
* | Aviat Networks Inc. | 555 | 17 |
1,597 | |||
Total Common Stocks (Cost $59,523) | 75,724 | ||
Temporary Cash Investments (1.5%) | |||
Money Market Fund (1.5%) | |||
1 | Vanguard Market Liquidity Fund, 5.438% (Cost $1,126) | 11,263 | 1,126 |
Total Investments (100.1%) (Cost $60,649) | 76,850 | ||
Other Assets and Liabilities—Net (-0.1%) | (89) | ||
Net Assets (100%) | 76,761 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
Micro E-mini S&P 500 Index | December 2023 | 55 | 1,259 | 45 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $59,523) | 75,724 |
Affiliated Issuers (Cost $1,126) | 1,126 |
Total Investments in Securities | 76,850 |
Investment in Vanguard | 3 |
Cash Collateral Pledged—Futures Contracts | 67 |
Receivables for Accrued Income | 129 |
Receivables for Capital Shares Issued | 335 |
Variation Margin Receivable—Futures Contracts | 5 |
Total Assets | 77,389 |
Liabilities | |
Payables for Investment Securities Purchased | 304 |
Payables for Capital Shares Redeemed | 317 |
Payables to Vanguard | 7 |
Total Liabilities | 628 |
Net Assets | 76,761 |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 67,254 |
Total Distributable Earnings (Loss) | 9,507 |
Net Assets | 76,761 |
Net Assets | |
Applicable to 2,247,543 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 76,761 |
Net Asset Value Per Share | $34.15 |
Year Ended November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 1,396 |
Interest2 | 52 |
Securities Lending—Net | 3 |
Total Income | 1,451 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | — |
Management and Administrative | 52 |
Marketing and Distribution | — |
Custodian Fees | 4 |
Auditing Fees | 28 |
Shareholders’ Reports | 25 |
Trustees’ Fees and Expenses | — |
Professional Services | 16 |
Total Expenses | 125 |
Net Investment Income | 1,326 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | (1,473) |
Futures Contracts | 92 |
Realized Net Gain (Loss) | (1,381) |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 2,222 |
Futures Contracts | (7) |
Change in Unrealized Appreciation (Depreciation) | 2,215 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,160 |
1 | Dividends are net of foreign withholding taxes of $2,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $49,000, less than $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
Year Ended November 30, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 1,326 | 1,115 |
Realized Net Gain (Loss) | (1,381) | (3,137) |
Change in Unrealized Appreciation (Depreciation) | 2,215 | 4,769 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 2,160 | 2,747 |
Distributions | ||
Total Distributions | (1,309) | (1,031) |
Capital Share Transactions | ||
Issued | 28,467 | 33,547 |
Issued in Lieu of Cash Distributions | 1,097 | 854 |
Redeemed | (20,463) | (17,244) |
Net Increase (Decrease) from Capital Share Transactions | 9,101 | 17,157 |
Total Increase (Decrease) | 9,952 | 18,873 |
Net Assets | ||
Beginning of Period | 66,809 | 47,936 |
End of Period | 76,761 | 66,809 |
For a Share Outstanding Throughout Each Period | Year Ended November 30, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $33.75 | $32.99 | $25.47 | $25.70 | $24.53 |
Investment Operations | |||||
Net Investment Income1 | .625 | .680 | .466 | .382 | .425 |
Net Realized and Unrealized Gain (Loss) on Investments | .401 | .725 | 7.485 | (.214) | 1.143 |
Total from Investment Operations | 1.026 | 1.405 | 7.951 | .168 | 1.568 |
Distributions | |||||
Dividends from Net Investment Income | (.626) | (.645) | (.431) | (.398) | (.398) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (.626) | (.645) | (.431) | (.398) | (.398) |
Net Asset Value, End of Period | $34.15 | $33.75 | $32.99 | $25.47 | $25.70 |
Total Return2 | 3.19% | 4.43% | 31.39% | 0.97% | 6.54% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $77 | $67 | $48 | $26 | $33 |
Ratio of Total Expenses to Average Net Assets | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 1.91% | 2.13% | 1.48% | 1.66% | 1.76% |
Portfolio Turnover Rate | 50% | 55% | 62% | 74% | 96% |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction and account service fees. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
D. | Permanent differences between book-basis and tax-basis components of net assets, if any, are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. |
Amount ($000) | |
Undistributed Ordinary Income | 265 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 16,202 |
Capital Loss Carryforwards | (6,960) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 9,507 |
Year Ended November 30, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 1,309 | 1,031 |
Long-Term Capital Gains | — | — |
Total | 1,309 | 1,031 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 60,649 |
Gross Unrealized Appreciation | 17,200 |
Gross Unrealized Depreciation | (998) |
Net Unrealized Appreciation (Depreciation) | 16,202 |
E. | During the year ended November 30, 2023, the fund purchased $43,487,000 of investment securities and sold $34,176,000 of investment securities, other than temporary cash investments. |
F. | Capital shares issued and redeemed were: |
Year Ended November 30, | ||
2023 Shares (000) | 2022 Shares (000) | |
Issued | 866 | 1,038 |
Issued in Lieu of Cash Distributions | 34 | 27 |
Redeemed | (631) | (539) |
Net Increase (Decrease) in Shares Outstanding | 269 | 526 |
G. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
H. | Management has determined that no events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
January 19, 2024
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Your Fund’s Performance at a Glance | 1 |
About Your Fund’s Expenses | 2 |
Performance Summary | 4 |
Financial Statements | 6 |
• | From its inception on March 7, 2023, through November 30, 2023, Vanguard Short-Term Tax-Exempt Bond ETF returned 2.38% based on net asset value, in line with its expense-free benchmark, which returned 2.40%. |
• | The investment objective of this index fund is to track the performance of its benchmark index, which measures the investment-grade segment of the U.S. municipal bond market with maturities between one month and seven years. |
• | For much of the period under review, inflation continued to ease as interest rate hikes by the Federal Reserve worked their way through the financial system. Although the prospect of higher interest rates for longer and heightened geopolitical tensions occasionally weighed on market sentiment toward the close of the period, global stocks and bonds rallied in November. |
• | The muni bond market fared better over the period than the taxable bond market, returning 3.35%, as measured by the Bloomberg Municipal Bond Index market. |
• | Revenue bonds in the broad muni market returned more than their general obligation counterparts. By credit quality, munis on the lower rung of the investment-grade credit ladder outperformed their higher-rated counterparts. Overall, long-dated munis returned the most. |
Average Annual Total Returns Periods Ended November 30, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 13.57% | 8.72% | 12.25% |
Russell 2000 Index (Small-caps) | -2.56 | 1.13 | 4.78 |
Russell 3000 Index (Broad U.S. market) | 12.61 | 8.26 | 11.77 |
FTSE All-World ex US Index (International) | 9.64 | 2.12 | 5.49 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | 1.32% | -4.46% | 0.79% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 4.28 | -0.96 | 2.03 |
FTSE Three-Month U.S. Treasury Bill Index | 5.12 | 2.08 | 1.85 |
CPI | |||
Consumer Price Index | 3.14% | 5.67% | 4.03% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended November 30, 2023 | |||
Beginning Account Value 3/7/2023 | Ending Account Value 11/30/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Short-Term Tax-Exempt Bond ETF | $1,000.00 | $1,019.30 | $0.35 |
Based on Hypothetical 5% Yearly Return | |||
Short-Term Tax-Exempt Bond ETF | $1,000.00 | $1,024.72 | $0.36 |
Total Returns Period Ended November 30, 2023 | |||
Since Inception (3/7/2023) | Final Value of a $10,000 Investment | ||
Short-Term Tax-Exempt Bond ETF | 2.38% | $10,238 | |
Short-Term Tax-Exempt Bond ETF Market Price | 2.25 | 10,225 | |
S&P 0-7 Year National AMT-Free Municipal Bond Index | 2.40 | 10,240 | |
S&P National AMT-Free Municipal Bond Index | 3.28 | 10,328 |
Since Inception (3/07/2023) | |
Short-Term Tax-Exempt Bond ETF Market Price | 2.25% |
Short-Term Tax-Exempt Bond ETF Net Asset Value | 2.38 |
S&P 0-7 Year National AMT-Free Municipal Bond Index | 2.40 |
New York | 18.1% |
California | 17.8 |
Texas | 8.7 |
Illinois | 6.0 |
New Jersey | 5.3 |
Washington | 4.1 |
Maryland | 3.9 |
Pennsylvania | 3.6 |
Massachusetts | 3.1 |
Connecticut | 2.8 |
Florida | 2.2 |
Georgia | 2.1 |
Ohio | 2.1 |
Arizona | 2.0 |
Virginia | 2.0 |
Alabama | 1.3 |
North Carolina | 1.3 |
Wisconsin | 1.2 |
Minnesota | 1.1 |
District of Columbia | 1.1 |
Michigan | 1.0 |
Other | 9.2 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Tax-Exempt Municipal Bonds (99.4%) | |||||
Alabama (1.3%) | |||||
Alabama Federal Aid Highway Finance Authority Fuel Sales Tax Revenue, Prere. | 4.000% | 9/1/24 | 175 | 176 | |
Alabama Federal Aid Highway Finance Authority Fuel Sales Tax Revenue, Prere. | 5.000% | 9/1/24 | 140 | 141 | |
Alabama Federal Aid Highway Finance Authority Fuel Sales Tax Revenue, Prere. | 5.000% | 9/1/24 | 275 | 278 | |
Alabama Federal Aid Highway Finance Authority Fuel Sales Tax Revenue, Prere. | 5.000% | 9/1/24 | 155 | 157 | |
Alabama Federal Aid Highway Finance Authority Fuel Sales Tax Revenue, Prere. | 5.000% | 9/1/26 | 595 | 630 | |
Alabama Federal Aid Highway Finance Authority Fuel Sales Tax Revenue, Prere. | 5.000% | 9/1/26 | 515 | 545 | |
Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, ETM | 5.000% | 9/1/24 | 70 | 71 | |
Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, ETM | 5.000% | 9/1/25 | 370 | 382 | |
Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, ETM | 5.000% | 9/1/26 | 105 | 111 | |
Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, Prere. | 4.000% | 9/1/27 | 155 | 161 | |
Alabama Federal Aid Highway Finance Authority Government Fund/Grant Revenue, Prere. | 5.000% | 9/1/27 | 420 | 452 | |
Alabama Federal Aid Highway Finance Authority, Fuel Sales Tax Revenue, Prere. | 3.100% | 9/1/24 | 150 | 150 | |
Alabama Federal Aid Highway Finance Authority, Fuel Sales Tax Revenue, Prere. | 4.000% | 9/1/24 | 50 | 50 | |
Alabama Federal Aid Highway Finance Authority, Fuel Sales Tax Revenue, Prere. | 4.000% | 9/1/24 | 150 | 151 | |
Alabama Public School and College Authority Miscellaneous Taxes Revenue | 5.000% | 11/1/27 | 340 | 369 | |
Alabama Public School and College Authority Miscellaneous Taxes Revenue | 5.000% | 11/1/29 | 275 | 309 | |
Alabama Public School and College Authority Miscellaneous Taxes Revenue | 5.000% | 11/1/30 | 70 | 80 | |
Alabama Public School and College Authority Sales Tax Revenue | 5.000% | 1/1/25 | 350 | 354 | |
Alabama Public School and College Authority Sales Tax Revenue | 5.000% | 1/1/26 | 200 | 202 | |
Alabama Public School and College Authority Sales Tax Revenue | 5.000% | 1/1/27 | 160 | 161 | |
Birmingham Water Works Board Water Revenue, Prere. | 5.000% | 1/1/27 | 10 | 11 | |
4,941 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Arizona (2.0%) | |||||
Arizona COP, ETM | 5.000% | 10/1/24 | 95 | 96 | |
Arizona COP, ETM | 5.000% | 10/1/25 | 160 | 166 | |
Arizona COP, ETM | 5.000% | 10/1/26 | 80 | 85 | |
Arizona COP, ETM | 5.000% | 10/1/27 | 250 | 270 | |
Arizona COP, ETM | 5.000% | 10/1/28 | 75 | 83 | |
Arizona COP, ETM | 5.000% | 10/1/29 | 10 | 11 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue | 5.000% | 7/1/24 | 100 | 101 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue | 5.000% | 7/1/26 | 45 | 47 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue | 5.000% | 7/1/27 | 25 | 27 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue | 5.000% | 7/1/28 | 105 | 115 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue | 5.000% | 7/1/30 | 100 | 113 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue, Prere. | 5.000% | 7/1/24 | 165 | 167 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue, Prere. | 5.000% | 7/1/24 | 350 | 353 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue, Prere. | 5.000% | 7/1/24 | 50 | 50 | |
Arizona Department of Transportation State Highway Fund Fuel Sales Tax Revenue, Prere. | 5.000% | 7/1/24 | 5 | 5 | |
Arizona Lottery Revenue, ETM | 5.000% | 7/1/28 | 15 | 16 | |
Arizona Transportation Board Sales Tax Revenue | 5.000% | 7/1/24 | 255 | 258 | |
Arizona Transportation Board Sales Tax Revenue | 5.000% | 7/1/25 | 100 | 101 | |
Arizona Transportation Board Sales Tax Revenue | 5.000% | 7/1/25 | 70 | 72 | |
Mesa AZ Utility System Multiple Utility Revenue | 3.250% | 7/1/29 | 130 | 130 | |
Phoenix AZ GO | 4.000% | 7/1/24 | 440 | 442 | |
Phoenix AZ GO | 5.000% | 7/1/27 | 350 | 369 | |
Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue | 5.000% | 7/1/25 | 115 | 116 | |
Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue | 5.000% | 7/1/27 | 110 | 111 | |
Phoenix Civic Improvement Corp. Intergovernmental Agreement Revenue | 4.000% | 7/1/28 | 515 | 517 | |
Pima County AZ Sewer System Sewer Revenue | 5.000% | 7/1/24 | 385 | 389 | |
Pima County AZ Sewer System Sewer Revenue, ETM | 5.000% | 7/1/24 | 35 | 35 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 1/1/24 | 200 | 200 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 1/1/25 | 140 | 143 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 1/1/26 | 15 | 16 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 1/1/27 | 150 | 160 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 1/1/28 | 150 | 160 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 1/1/29 | 250 | 266 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 12/1/41 | 1,000 | 1,026 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue | 5.000% | 12/1/45 | 1,000 | 1,026 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) | 5.000% | 1/1/26 | 200 | 209 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) | 5.000% | 1/1/27 | 135 | 144 | |
Salt River Project Agricultural Improvement & Power District Electric Power & Light Revenue (Salt River Project) | 5.000% | 1/1/28 | 105 | 115 | |
7,710 | |||||
Arkansas (0.1%) | |||||
Alma School District No. 30 GO, Prere. | 3.000% | 2/1/24 | 100 | 100 | |
Little Rock AR Water Reclamation System Sewer Revenue, Prere. | 3.500% | 4/1/25 | 135 | 136 | |
236 | |||||
California (17.7%) | |||||
1 | Alameda Corridor Transportation Authority Transit Revenue | 0.000% | 10/1/29 | 15 | 12 |
2 | Anaheim Public Financing Authority Lease (Abatement) Revenue (Anaheim Public Improvements Project) | 0.000% | 9/1/25 | 50 | 47 |
2 | Anaheim Public Financing Authority Lease (Abatement) Revenue (Anaheim Public Improvements Project) | 0.000% | 9/1/30 | 50 | 39 |
Bay Area Toll Authority Highway Revenue | 5.000% | 4/1/27 | 65 | 70 | |
Bay Area Toll Authority Highway Revenue | 5.000% | 4/1/28 | 210 | 231 | |
Bay Area Toll Authority Highway Revenue | 5.000% | 4/1/29 | 135 | 152 | |
Bay Area Toll Authority Highway Revenue | 4.000% | 4/1/30 | 265 | 275 | |
Bay Area Toll Authority Highway Revenue | 5.000% | 4/1/30 | 25 | 29 | |
Bay Area Toll Authority Highway Revenue PUT | 2.000% | 4/1/24 | 100 | 99 | |
Bay Area Toll Authority Highway Revenue PUT | 2.125% | 4/1/25 | 400 | 392 | |
Bay Area Toll Authority Highway Revenue PUT | 2.000% | 4/1/28 | 300 | 276 | |
Bay Area Toll Authority Highway Revenue, Prere. | 5.000% | 4/1/27 | 110 | 119 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/24 | 255 | 260 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/25 | 140 | 143 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/26 | 220 | 236 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/27 | 130 | 143 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/28 | 130 | 139 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/29 | 200 | 213 | |
California Department of Water Resources Water Revenue | 5.000% | 12/1/30 | 25 | 29 | |
California Department of Water Resources Water Revenue, Prere. | 5.000% | 12/1/24 | 365 | 372 | |
California Department of Water Resources Water Revenue, Prere. | 5.000% | 12/1/24 | 370 | 377 | |
California Department of Water Resources Water Revenue, Prere. | 5.000% | 12/1/24 | 320 | 326 | |
California Department of Water Resources Water Revenue, Prere. | 5.000% | 12/1/24 | 210 | 214 | |
California Educational Facilities Authority College & University Revenue, Prere. | 5.000% | 4/1/26 | 25 | 26 | |
California GO | 5.000% | 12/1/23 | 700 | 700 | |
California GO | 5.000% | 4/1/24 | 365 | 367 | |
California GO | 5.000% | 4/1/24 | 100 | 101 | |
California GO | 5.000% | 8/1/24 | 265 | 268 | |
California GO | 5.000% | 8/1/24 | 170 | 172 | |
California GO | 5.000% | 8/1/24 | 130 | 132 | |
California GO | 5.000% | 8/1/24 | 155 | 157 | |
California GO | 5.000% | 8/1/24 | 215 | 218 | |
California GO | 5.000% | 9/1/24 | 115 | 117 | |
California GO | 5.000% | 9/1/24 | 200 | 203 | |
California GO | 5.000% | 9/1/24 | 130 | 132 | |
California GO | 4.000% | 10/1/24 | 900 | 907 | |
California GO | 5.000% | 10/1/24 | 155 | 157 | |
California GO | 5.000% | 10/1/24 | 200 | 203 | |
California GO | 5.000% | 10/1/24 | 300 | 305 | |
California GO | 5.000% | 10/1/24 | 100 | 102 | |
California GO | 5.000% | 11/1/24 | 100 | 102 | |
California GO | 5.000% | 11/1/24 | 380 | 386 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
California GO | 5.000% | 11/1/24 | 115 | 117 | |
California GO | 4.000% | 12/1/24 | 270 | 272 | |
California GO | 4.000% | 12/1/24 | 125 | 125 | |
California GO | 5.000% | 12/1/24 | 500 | 500 | |
California GO | 5.000% | 12/1/24 | 360 | 360 | |
California GO | 5.000% | 12/1/24 | 30 | 30 | |
California GO | 5.500% | 2/1/25 | 150 | 154 | |
California GO | 5.000% | 3/1/25 | 100 | 102 | |
California GO | 5.000% | 8/1/25 | 130 | 134 | |
California GO | 5.000% | 8/1/25 | 150 | 155 | |
California GO | 5.000% | 8/1/25 | 275 | 284 | |
California GO | 5.000% | 9/1/25 | 50 | 52 | |
California GO | 5.000% | 9/1/25 | 100 | 103 | |
California GO | 5.000% | 9/1/25 | 30 | 31 | |
California GO | 5.000% | 9/1/25 | 525 | 543 | |
California GO | 5.000% | 10/1/25 | 395 | 401 | |
California GO | 5.000% | 10/1/25 | 215 | 223 | |
California GO | 5.000% | 10/1/25 | 200 | 207 | |
California GO | 5.000% | 10/1/25 | 310 | 321 | |
California GO | 4.000% | 11/1/25 | 15 | 15 | |
California GO | 5.000% | 11/1/25 | 115 | 119 | |
California GO | 5.000% | 11/1/25 | 235 | 244 | |
California GO | 3.250% | 2/1/26 | 100 | 100 | |
California GO | 5.000% | 3/1/26 | 150 | 154 | |
California GO | 5.000% | 4/1/26 | 65 | 68 | |
California GO | 5.000% | 4/1/26 | 140 | 147 | |
California GO | 5.000% | 4/1/26 | 50 | 52 | |
California GO | 5.000% | 8/1/26 | 115 | 122 | |
California GO | 5.000% | 8/1/26 | 355 | 375 | |
California GO | 5.000% | 8/1/26 | 225 | 233 | |
California GO | 5.000% | 8/1/26 | 155 | 164 | |
California GO | 5.000% | 9/1/26 | 150 | 159 | |
California GO | 5.000% | 9/1/26 | 200 | 212 | |
California GO | 5.000% | 9/1/26 | 100 | 106 | |
California GO | 5.000% | 9/1/26 | 200 | 212 | |
California GO | 5.000% | 10/1/26 | 35 | 37 | |
California GO | 5.000% | 10/1/26 | 350 | 372 | |
California GO | 5.000% | 10/1/26 | 210 | 221 | |
California GO | 5.000% | 10/1/26 | 100 | 106 | |
California GO | 4.000% | 11/1/26 | 80 | 83 | |
California GO | 5.000% | 11/1/26 | 200 | 213 | |
California GO | 5.000% | 12/1/26 | 405 | 432 | |
1 | California GO | 5.000% | 2/1/27 | 5 | 5 |
California GO | 5.000% | 3/1/27 | 250 | 256 | |
California GO | 5.000% | 3/1/27 | 350 | 359 | |
California GO | 5.000% | 4/1/27 | 575 | 618 | |
California GO | 5.000% | 4/1/27 | 370 | 397 | |
California GO | 3.500% | 8/1/27 | 105 | 108 | |
California GO | 5.000% | 8/1/27 | 275 | 291 | |
California GO | 5.000% | 8/1/27 | 185 | 196 | |
California GO | 5.000% | 8/1/27 | 95 | 97 | |
California GO | 5.000% | 8/1/27 | 25 | 27 | |
California GO | 4.000% | 9/1/27 | 260 | 272 | |
California GO | 5.000% | 9/1/27 | 80 | 85 | |
California GO | 5.000% | 9/1/27 | 25 | 26 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
California GO | 5.000% | 9/1/27 | 200 | 217 | |
California GO | 5.000% | 10/1/27 | 335 | 340 | |
California GO | 5.000% | 10/1/27 | 75 | 79 | |
California GO | 5.000% | 10/1/27 | 175 | 190 | |
California GO | 5.000% | 10/1/27 | 100 | 109 | |
California GO | 4.000% | 11/1/27 | 220 | 222 | |
California GO | 5.000% | 11/1/27 | 335 | 365 | |
California GO | 5.000% | 12/1/27 | 365 | 398 | |
California GO | 5.000% | 4/1/28 | 330 | 362 | |
California GO | 5.000% | 4/1/28 | 45 | 49 | |
California GO | 5.000% | 8/1/28 | 730 | 770 | |
California GO | 5.000% | 8/1/28 | 120 | 127 | |
California GO | 5.000% | 8/1/28 | 270 | 291 | |
California GO | 5.000% | 8/1/28 | 40 | 41 | |
California GO | 5.000% | 8/1/28 | 225 | 242 | |
California GO | 5.000% | 8/1/28 | 95 | 105 | |
California GO | 4.000% | 9/1/28 | 65 | 67 | |
California GO | 5.000% | 9/1/28 | 275 | 291 | |
California GO | 5.000% | 9/1/28 | 155 | 164 | |
California GO | 5.000% | 9/1/28 | 360 | 399 | |
California GO | 5.000% | 10/1/28 | 180 | 200 | |
California GO | 5.000% | 10/1/28 | 235 | 261 | |
California GO | 5.000% | 10/1/28 | 100 | 111 | |
California GO | 4.000% | 11/1/28 | 100 | 101 | |
California GO | 5.000% | 11/1/28 | 115 | 125 | |
California GO | 5.000% | 11/1/28 | 115 | 128 | |
California GO | 5.000% | 11/1/28 | 115 | 128 | |
California GO | 3.000% | 3/1/29 | 80 | 80 | |
California GO | 3.000% | 3/1/29 | 415 | 415 | |
California GO | 5.000% | 4/1/29 | 460 | 514 | |
California GO | 5.000% | 4/1/29 | 250 | 280 | |
California GO | 3.000% | 8/1/29 | 5 | 5 | |
California GO | 5.000% | 8/1/29 | 295 | 311 | |
California GO | 5.000% | 8/1/29 | 165 | 178 | |
California GO | 5.000% | 8/1/29 | 250 | 258 | |
California GO | 5.000% | 8/1/29 | 115 | 121 | |
California GO | 5.000% | 8/1/29 | 5 | 5 | |
California GO | 5.000% | 8/1/29 | 70 | 77 | |
California GO | 5.000% | 8/1/29 | 315 | 339 | |
California GO | 5.000% | 8/1/29 | 105 | 113 | |
California GO | 4.000% | 9/1/29 | 500 | 532 | |
California GO | 5.000% | 9/1/29 | 155 | 164 | |
California GO | 5.000% | 9/1/29 | 55 | 58 | |
California GO | 5.000% | 9/1/29 | 135 | 152 | |
California GO | 5.000% | 10/1/29 | 50 | 51 | |
California GO | 5.000% | 10/1/29 | 425 | 479 | |
California GO | 5.000% | 10/1/29 | 510 | 534 | |
California GO | 5.000% | 10/1/29 | 470 | 519 | |
California GO | 5.000% | 10/1/29 | 5 | 6 | |
California GO | 5.000% | 10/1/29 | 200 | 225 | |
California GO | 5.000% | 11/1/29 | 220 | 238 | |
California GO | 5.000% | 11/1/29 | 305 | 344 | |
California GO | 5.000% | 3/1/30 | 350 | 358 | |
California GO | 5.000% | 3/1/30 | 310 | 352 | |
California GO | 5.000% | 4/1/30 | 10 | 11 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
California GO | 5.000% | 4/1/30 | 320 | 364 | |
California GO | 5.000% | 4/1/30 | 145 | 165 | |
California GO | 5.000% | 4/1/30 | 80 | 89 | |
California GO | 5.000% | 8/1/30 | 405 | 427 | |
California GO | 5.000% | 8/1/30 | 440 | 473 | |
California GO | 5.000% | 8/1/30 | 395 | 425 | |
California GO | 5.000% | 8/1/30 | 435 | 479 | |
California GO | 5.000% | 9/1/30 | 95 | 100 | |
California GO | 5.000% | 9/1/30 | 425 | 449 | |
California GO | 5.000% | 9/1/30 | 5 | 6 | |
California GO | 5.000% | 9/1/30 | 300 | 344 | |
California GO | 5.000% | 10/1/30 | 65 | 73 | |
California GO | 5.000% | 10/1/30 | 135 | 155 | |
California GO | 5.000% | 10/1/30 | 260 | 298 | |
California GO | 5.000% | 11/1/30 | 120 | 138 | |
California GO | 5.000% | 12/1/30 | 70 | 81 | |
3 | California Infrastructure & Economic Development Bank Highway Revenue, Prere. | 5.000% | 1/1/28 | 185 | 202 |
1 | California Infrastructure & Economic Development Bank Highway Revenue, Prere. | 5.000% | 1/1/28 | 480 | 527 |
1 | California Infrastructure & Economic Development Bank Highway Revenue, Prere. | 5.000% | 1/1/28 | 115 | 126 |
California Infrastructure & Economic Development Bank Miscellaneous Revenue | 5.000% | 4/1/28 | 100 | 110 | |
California Infrastructure & Economic Development Bank Miscellaneous Revenue PUT | 5.000% | 10/1/26 | 300 | 317 | |
California Infrastructure & Economic Development Bank Water Revenue | 5.000% | 10/1/27 | 150 | 162 | |
California Infrastructure & Economic Development Bank Water Revenue | 5.000% | 10/1/28 | 50 | 55 | |
California Municipal Finance Authority College & University Revenue, Prere. | 5.000% | 1/1/28 | 30 | 33 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 10/1/25 | 45 | 47 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 5/1/26 | 90 | 92 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 10/1/26 | 195 | 207 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 5/1/27 | 395 | 405 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 5/1/28 | 225 | 231 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 8/1/28 | 125 | 138 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 10/1/29 | 195 | 209 | |
California State Public Works Board Lease (Abatement) Revenue | 5.000% | 2/1/30 | 200 | 226 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 12/1/23 | 100 | 100 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/24 | 100 | 101 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 12/1/24 | 100 | 102 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/25 | 100 | 103 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 12/1/25 | 120 | 125 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/26 | 100 | 106 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/27 | 100 | 108 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 12/1/27 | 100 | 109 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/28 | 100 | 110 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 12/1/28 | 100 | 111 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/29 | 100 | 112 | |
California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) | 5.000% | 9/1/30 | 100 | 114 | |
California State Public Works Board Lease (Abatement) Revenue, ETM | 5.000% | 10/1/26 | 10 | 11 | |
California State Public Works Board Lease (Abatement) Revenue, Prere. | 5.000% | 10/1/27 | 15 | 16 | |
California State University College & University Revenue | 5.000% | 11/1/25 | 300 | 312 | |
California State University College & University Revenue | 5.000% | 11/1/26 | 15 | 16 | |
California State University College & University Revenue | 5.000% | 11/1/27 | 655 | 681 | |
California State University College & University Revenue | 5.000% | 11/1/27 | 40 | 42 | |
California State University College & University Revenue | 3.250% | 11/1/28 | 50 | 50 | |
California State University College & University Revenue PUT | 0.550% | 11/1/26 | 75 | 67 | |
California State University College & University Revenue PUT | 3.125% | 11/1/26 | 250 | 250 | |
California State University College & University Revenue, Prere. | 4.000% | 11/1/24 | 205 | 207 | |
California State University College & University Revenue, Prere. | 5.000% | 11/1/24 | 5 | 5 | |
California State University College & University Revenue, Prere. | 5.000% | 11/1/24 | 1,000 | 1,019 | |
Chino Basin Regional Financing Authority Lease Revenue | 4.000% | 11/1/25 | 390 | 397 | |
Coast Community College District GO, Prere. | 5.000% | 8/15/25 | 385 | 399 | |
Coast Community College District GO, Prere. | 4.500% | 8/1/27 | 110 | 117 | |
East Bay Municipal Utility District Water System Water Revenue | 5.000% | 6/1/25 | 10 | 10 | |
East Bay Municipal Utility District Water System Water Revenue | 5.000% | 6/1/26 | 90 | 93 | |
East Bay Municipal Utility District Water System Water Revenue | 5.000% | 6/1/27 | 40 | 41 | |
East Bay Municipal Utility District Water System Water Revenue | 5.000% | 6/1/28 | 70 | 72 | |
East Bay Municipal Utility District Water System Water Revenue | 5.000% | 6/1/29 | 30 | 31 | |
2 | El Dorado Irrigation District Water Revenue, Prere. | 5.250% | 3/1/24 | 100 | 101 |
Foothill-Eastern Transportation Corridor Agency Highway Revenue, ETM | 0.000% | 1/1/28 | 100 | 89 | |
Foothill-Eastern Transportation Corridor Agency Highway Revenue, ETM | 0.000% | 1/1/29 | 130 | 112 | |
Foothill-Eastern Transportation Corridor Agency Highway Revenue, Prere. | 6.000% | 1/15/24 | 1,000 | 1,003 | |
Glendale Community College District GO, Prere. | 5.250% | 8/1/27 | 65 | 71 | |
Glendale Unified School District GO, Prere. | 4.000% | 9/1/25 | 10 | 10 | |
Los Angeles CA Community College District GO | 5.000% | 8/1/25 | 85 | 88 | |
Los Angeles CA Community College District GO | 5.000% | 8/1/25 | 105 | 109 | |
Los Angeles CA Community College District GO | 5.000% | 8/1/25 | 200 | 207 | |
Los Angeles CA Community College District GO | 5.000% | 6/1/26 | 115 | 122 | |
Los Angeles CA Community College District GO | 5.000% | 8/1/26 | 130 | 138 | |
Los Angeles CA Community College District GO | 5.000% | 8/1/26 | 100 | 106 | |
Los Angeles CA Community College District GO | 5.000% | 8/1/27 | 305 | 331 | |
4 | Los Angeles CA Community College District GO | 5.000% | 8/1/28 | 100 | 111 |
4 | Los Angeles CA Community College District GO | 5.000% | 8/1/29 | 100 | 113 |
4 | Los Angeles CA Community College District GO | 5.000% | 8/1/30 | 100 | 115 |
Los Angeles CA Community College District GO, Prere. | 4.000% | 8/1/24 | 15 | 15 | |
Los Angeles CA Community College District GO, Prere. | 4.000% | 8/1/24 | 10 | 10 | |
Los Angeles CA Community College District GO, Prere. | 4.000% | 8/1/24 | 290 | 292 | |
Los Angeles CA Community College District GO, Prere. | 5.000% | 8/1/24 | 140 | 142 | |
Los Angeles CA Community College District GO, Prere. | 5.000% | 8/1/24 | 135 | 137 | |
Los Angeles CA Community College District GO, Prere. | 5.000% | 8/1/24 | 35 | 35 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/24 | 120 | 121 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Los Angeles CA Unified School District GO | 5.000% | 7/1/24 | 125 | 126 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 100 | 103 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 380 | 393 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 330 | 333 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 10 | 10 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 115 | 119 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/26 | 425 | 450 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/27 | 160 | 173 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/27 | 435 | 472 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/28 | 125 | 137 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/28 | 165 | 183 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 105 | 118 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 310 | 327 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 100 | 109 | |
Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 150 | 172 | |
Los Angeles CA Wastewater System Sewer Revenue | 5.000% | 6/1/25 | 200 | 206 | |
Los Angeles CA Wastewater System Sewer Revenue | 5.000% | 6/1/26 | 135 | 143 | |
Los Angeles CA Wastewater System Sewer Revenue | 5.000% | 6/1/28 | 60 | 66 | |
Los Angeles County Facilities Inc. Lease (Abatement) Revenue, Prere. | 5.000% | 12/1/28 | 85 | 95 | |
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | 5.000% | 6/1/25 | 15 | 15 | |
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | 5.000% | 6/1/27 | 50 | 54 | |
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | 5.000% | 6/1/28 | 345 | 381 | |
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue | 5.000% | 6/1/29 | 150 | 169 | |
Los Angeles Department of Airports Port, Airport & Marina Revenue | 5.000% | 5/15/28 | 100 | 111 | |
Los Angeles Department of Airports Port, Airport & Marina Revenue, Prere. | 5.000% | 5/15/29 | 35 | 39 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/25 | 10 | 10 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/26 | 205 | 217 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/26 | 10 | 11 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/26 | 200 | 211 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/28 | 25 | 28 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/29 | 120 | 135 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/29 | 100 | 113 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/29 | 50 | 56 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/30 | 300 | 306 | |
Los Angeles Department of Water & Power Electric Power & Light Revenue | 5.000% | 7/1/30 | 110 | 127 | |
Los Angeles Department of Water & Power System Electric Power & Light Revenue | 4.000% | 7/1/26 | 195 | 202 | |
Los Angeles Department of Water & Power System Electric Power & Light Revenue | 5.000% | 7/1/26 | 145 | 153 | |
Los Angeles Department of Water & Power System Electric Power & Light Revenue | 5.000% | 7/1/26 | 135 | 143 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Los Angeles Department of Water & Power System Electric Power & Light Revenue | 5.000% | 7/1/28 | 360 | 368 | |
Los Angeles Department of Water & Power System Electric Power & Light Revenue | 5.000% | 7/1/28 | 225 | 249 | |
Los Angeles Department of Water & Power Water System Water Revenue | 4.000% | 7/1/29 | 250 | 269 | |
Los Angeles Department of Water & Power Water System Water Revenue | 4.000% | 7/1/30 | 50 | 54 | |
Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue | 5.000% | 11/1/27 | 250 | 266 | |
Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue | 5.000% | 11/1/28 | 25 | 27 | |
Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue | 5.000% | 11/1/29 | 50 | 53 | |
Los Angeles Unified School District GO | 5.000% | 7/1/27 | 180 | 195 | |
Los Angeles Unified School District GO | 5.000% | 7/1/28 | 420 | 446 | |
Los Angeles Unified School District GO | 2.000% | 7/1/29 | 60 | 55 | |
Los Angeles Unified School District GO | 5.000% | 7/1/29 | 400 | 438 | |
Los Rios Community College District GO | 3.000% | 8/1/25 | 160 | 160 | |
Metropolitan Water District of Southern California Water Revenue | 2.250% | 7/1/24 | 450 | 447 | |
Metropolitan Water District of Southern California Water Revenue | 5.000% | 7/1/25 | 65 | 67 | |
Metropolitan Water District of Southern California Water Revenue | 2.500% | 7/1/26 | 465 | 454 | |
Metropolitan Water District of Southern California Water Revenue | 5.000% | 7/1/27 | 5 | 5 | |
Metropolitan Water District of Southern California Water Revenue | 3.000% | 7/1/28 | 200 | 202 | |
Metropolitan Water District of Southern California Water Revenue | 5.000% | 7/1/29 | 20 | 23 | |
Metropolitan Water District of Southern California Water Revenue | 5.000% | 7/1/30 | 5 | 6 | |
Metropolitan Water District of Southern California Water Revenue, Prere. | 5.000% | 7/1/25 | 715 | 739 | |
Mountain View-Whisman School District GO, Prere. | 4.000% | 9/1/26 | 300 | 311 | |
Oxnard Union High School District GO, Prere. | 5.000% | 8/1/26 | 10 | 11 | |
Regents of the University of California Medical Center Pooled Health, Hospital, Nursing Home Revenue | 5.000% | 5/15/27 | 5 | 5 | |
Riverside County Public Financing Authority Lease (Abatement) Revenue (Capital Facilities Project), Prere. | 4.125% | 11/1/25 | 125 | 128 | |
1 | Sacramento City Financing Authority Lease (Abatement) Revenue (Master Lease Program) | 5.250% | 12/1/30 | 135 | 154 |
1 | Sacramento Municipal Utility District Electric Power & Light Revenue | 5.250% | 7/1/24 | 560 | 568 |
San Bernardino Community College District GO, Prere. | 4.000% | 8/16/27 | 195 | 205 | |
San Bernardino County CA (Arrowhead Project) COP | 5.000% | 10/1/25 | 200 | 208 | |
San Bernardino County CA (Arrowhead Project) COP | 5.000% | 10/1/26 | 5 | 5 | |
San Diego Association of Governments Appropriations Revenue, Prere. | 5.000% | 11/15/24 | 200 | 203 | |
San Diego Association of Governments Appropriations Revenue, Prere. | 5.000% | 11/15/25 | 175 | 181 | |
San Diego CA Unified School District GO | 5.000% | 7/1/25 | 200 | 207 | |
San Diego CA Unified School District GO | 5.000% | 7/1/26 | 100 | 103 | |
2 | San Diego CA Unified School District GO | 5.500% | 7/1/26 | 5 | 5 |
San Diego CA Unified School District GO | 5.000% | 7/1/28 | 200 | 222 | |
2 | San Diego CA Unified School District GO | 5.250% | 7/1/28 | 175 | 196 |
San Diego CA Unified School District GO | 4.000% | 7/1/29 | 25 | 26 | |
San Diego CA Unified School District GO | 5.000% | 7/1/29 | 390 | 441 | |
San Diego Community College District GO | 5.000% | 8/1/28 | 275 | 292 | |
San Diego Community College District GO, Prere. | 4.000% | 8/1/26 | 50 | 52 | |
San Diego Community College District GO, Prere. | 5.000% | 8/1/26 | 25 | 27 | |
San Diego Community College District GO, Prere. | 5.000% | 8/1/26 | 185 | 196 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
San Diego County Regional Transportation Commission Sales Tax Revenue, Prere. | 4.750% | 4/1/24 | 10 | 10 | |
San Diego Public Facilities Financing Authority Sewer Revenue | 5.000% | 5/15/25 | 195 | 201 | |
San Diego Public Facilities Financing Authority Water Revenue | 5.000% | 8/1/26 | 165 | 175 | |
San Diego Public Facilities Financing Authority Water Revenue | 5.000% | 8/1/27 | 25 | 27 | |
San Diego Public Facilities Financing Authority Water Revenue | 5.000% | 8/1/28 | 270 | 287 | |
San Diego Unified School District GO, Prere. | 6.000% | 7/1/24 | 100 | 102 | |
San Francisco CA City & County GO | 5.000% | 6/15/30 | 20 | 23 | |
San Francisco CA Public Utilities Commission Water Revenue | 5.000% | 11/1/26 | 10 | 11 | |
San Francisco CA Public Utilities Commission Water Revenue | 5.000% | 11/1/27 | 35 | 37 | |
San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue | 5.000% | 10/1/27 | 100 | 109 | |
San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue | 5.000% | 10/1/29 | 105 | 119 | |
San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue | 5.000% | 10/1/30 | 10 | 12 | |
San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue PUT | 4.000% | 10/1/29 | 100 | 104 | |
5 | San Joaquin Hills Transportation Corridor Agency Highway Revenue | 0.000% | 1/15/25 | 240 | 230 |
San Jose Evergreen Community College District GO, Prere. | 4.000% | 9/1/24 | 255 | 257 | |
San Jose Redevelopment Agency Successor Agency Tax Allocation Revenue | 5.000% | 8/1/24 | 200 | 203 | |
San Jose Redevelopment Agency Successor Agency Tax Allocation Revenue | 5.000% | 8/1/25 | 50 | 52 | |
San Mateo Foster City Public Financing Authority Lease (Non-Terminable) Revenue | 5.000% | 8/1/25 | 200 | 207 | |
San Mateo Foster City Public Financing Authority Lease (Non-Terminable) Revenue | 5.000% | 8/1/25 | 435 | 450 | |
Santa Clara Valley Transportation Authority Sales Tax Revenue | 5.000% | 4/1/25 | 55 | 57 | |
Santa Clara Valley Transportation Authority Sales Tax Revenue | 5.000% | 4/1/26 | 5 | 5 | |
Santa Clara Valley Transportation Authority Sales Tax Revenue | 5.000% | 4/1/27 | 10 | 11 | |
Santa Clara Valley Water District (Water Utility System Important Project) COP | 4.000% | 6/1/26 | 55 | 57 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 4/1/24 | 75 | 75 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 7/1/24 | 100 | 101 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 7/1/26 | 25 | 26 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 7/1/28 | 50 | 55 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 7/1/29 | 50 | 57 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 7/1/30 | 400 | 401 | |
Southern California Public Power Authority Electric Power & Light Revenue | 5.000% | 7/1/30 | 50 | 58 | |
Southern California Public Power Authority Electric Power & Light Revenue (Canyon Power Project) PUT | 0.650% | 7/1/25 | 50 | 48 | |
University of California College & University Revenue | 5.000% | 5/15/24 | 200 | 202 | |
University of California College & University Revenue | 5.000% | 5/15/25 | 150 | 155 | |
University of California College & University Revenue | 5.000% | 5/15/25 | 170 | 176 | |
University of California College & University Revenue | 5.000% | 5/15/26 | 100 | 103 | |
University of California College & University Revenue | 5.000% | 5/15/26 | 75 | 79 | |
University of California College & University Revenue | 5.000% | 5/15/27 | 50 | 52 | |
University of California College & University Revenue | 5.000% | 5/15/27 | 85 | 92 | |
University of California College & University Revenue | 5.000% | 5/15/28 | 295 | 319 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
University of California College & University Revenue | 5.000% | 5/15/28 | 370 | 410 | |
University of California College & University Revenue | 3.250% | 5/15/29 | 75 | 75 | |
University of California College & University Revenue | 5.000% | 5/15/29 | 140 | 151 | |
University of California College & University Revenue | 5.000% | 5/15/30 | 115 | 124 | |
University of California College & University Revenue (Limited Project) | 5.000% | 5/15/25 | 50 | 52 | |
University of California College & University Revenue (Limited Project) | 5.000% | 5/15/27 | 100 | 103 | |
University of California College & University Revenue (Limited Project) | 5.000% | 5/15/28 | 75 | 77 | |
University of California College & University Revenue (Limited Project) | 5.000% | 5/15/29 | 115 | 118 | |
University of California College & University Revenue (Limited Project) | 5.000% | 5/15/30 | 100 | 103 | |
University of California College & University Revenue, Prere. | 5.000% | 5/15/24 | 15 | 15 | |
University of Cincinnati College & University Revenue | 5.000% | 5/15/29 | 310 | 350 | |
Vernon CA Electric System Electric Power & Light Revenue | 5.000% | 10/1/27 | 100 | 104 | |
Yosemite Community College District GO, Prere. | 5.000% | 8/1/25 | 60 | 62 | |
69,188 | |||||
Colorado (0.8%) | |||||
Adams & Arapahoe Joint School District 28J Aurora GO | 5.000% | 12/1/23 | 400 | 400 | |
Adams & Arapahoe Joint School District 28J Aurora GO | 5.000% | 12/1/24 | 30 | 31 | |
Adams & Arapahoe Joint School District 28J Aurora GO | 5.000% | 12/1/29 | 105 | 118 | |
Adams 12 Five Star Schools GO, Prere. | 5.000% | 12/15/26 | 25 | 27 | |
Aurora CO Water Revenue, Prere. | 5.000% | 8/1/26 | 180 | 190 | |
Board of Governors of Colorado State University System College & University Revenue, Prere. | 5.000% | 3/1/25 | 460 | 470 | |
Colorado Health Facilities Authority Hospital Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | 1/1/24 | 435 | 436 | |
Colorado Springs CO Utilities System Water Revenue | 5.000% | 11/15/25 | 55 | 57 | |
Denver City & County School District No. 1 GO | 5.000% | 12/1/24 | 25 | 25 | |
Denver City & County School District No. 1 GO | 4.000% | 12/1/26 | 100 | 101 | |
Denver CO City & County Airport System Port, Airport & Marina Revenue | 5.000% | 11/15/24 | 160 | 163 | |
Denver CO City & County Airport System Port, Airport & Marina Revenue | 5.000% | 11/15/25 | 100 | 104 | |
Denver CO City & County GO | 5.000% | 8/1/29 | 145 | 162 | |
5 | E-470 Public Highway Authority Highway Revenue | 0.000% | 9/1/29 | 60 | 49 |
5 | E-470 Public Highway Authority Highway Revenue | 0.000% | 9/1/30 | 70 | 55 |
Regional Transportation District Sales Tax Revenue (Fastracks Project) | 5.000% | 11/1/27 | 50 | 54 | |
Regional Transportation District Sales Tax Revenue (Fastracks Project) | 5.000% | 11/1/27 | 150 | 163 | |
Regional Transportation District Sales Tax Revenue (Fastracks Project) | 5.000% | 11/1/29 | 165 | 186 | |
University of Colorado College & University Revenue PUT | 2.000% | 10/15/24 | 150 | 147 | |
University of Colorado College & University Revenue, Prere. | 4.000% | 6/1/28 | 65 | 69 | |
University of Colorado College & University Revenue, Prere. | 4.000% | 6/1/28 | 70 | 74 | |
University of Colorado College & University Revenue, Prere. | 4.000% | 6/1/28 | 20 | 21 | |
3,102 | |||||
Connecticut (2.8%) | |||||
Connecticut Clean Water Fund - State Revolving Fund Lease Revenue | 5.000% | 3/1/29 | 35 | 36 | |
Connecticut GO | 5.000% | 1/15/24 | 200 | 200 | |
Connecticut GO | 5.000% | 3/15/24 | 200 | 201 | |
Connecticut GO | 5.000% | 8/1/24 | 410 | 415 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Connecticut GO | 5.000% | 11/15/24 | 70 | 71 | |
Connecticut GO | 5.000% | 4/15/25 | 35 | 36 | |
Connecticut GO | 5.000% | 5/15/25 | 50 | 51 | |
Connecticut GO | 5.000% | 8/1/25 | 100 | 103 | |
Connecticut GO | 5.000% | 9/15/25 | 300 | 311 | |
Connecticut GO | 5.000% | 4/15/26 | 100 | 105 | |
Connecticut GO | 5.000% | 5/15/26 | 55 | 58 | |
Connecticut GO | 5.000% | 11/15/26 | 125 | 130 | |
Connecticut GO | 5.000% | 1/15/27 | 100 | 107 | |
Connecticut GO | 5.000% | 4/15/27 | 145 | 156 | |
Connecticut GO | 5.000% | 6/15/27 | 25 | 26 | |
Connecticut GO | 5.000% | 9/15/27 | 50 | 54 | |
Connecticut GO | 4.000% | 1/15/28 | 125 | 131 | |
Connecticut GO | 5.000% | 1/15/28 | 60 | 65 | |
Connecticut GO | 5.000% | 4/15/28 | 270 | 296 | |
Connecticut GO | 5.000% | 4/15/28 | 250 | 274 | |
Connecticut GO | 5.000% | 9/15/28 | 655 | 723 | |
Connecticut GO | 5.000% | 10/15/28 | 375 | 396 | |
Connecticut GO | 5.000% | 11/15/28 | 80 | 89 | |
Connecticut GO | 5.000% | 11/15/28 | 265 | 293 | |
Connecticut GO | 5.000% | 4/15/29 | 200 | 223 | |
Connecticut GO | 3.250% | 11/15/29 | 50 | 50 | |
Connecticut GO | 5.000% | 11/15/29 | 115 | 129 | |
Connecticut GO | 4.000% | 1/15/30 | 150 | 159 | |
Connecticut GO | 5.000% | 4/15/30 | 100 | 111 | |
Connecticut GO | 5.000% | 9/15/30 | 40 | 45 | |
Connecticut GO | 5.000% | 11/15/30 | 10 | 11 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 5/1/24 | 120 | 121 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/24 | 555 | 561 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 8/1/24 | 210 | 213 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 10/1/24 | 590 | 592 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 1/1/25 | 60 | 61 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 5/1/25 | 150 | 154 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 9/1/25 | 100 | 104 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 5/1/26 | 75 | 79 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/26 | 100 | 105 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/26 | 100 | 105 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 10/1/26 | 230 | 244 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 5/1/27 | 90 | 97 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/27 | 55 | 59 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/27 | 100 | 108 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 8/1/27 | 145 | 149 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 9/1/27 | 110 | 116 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 1/1/28 | 160 | 174 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 5/1/28 | 125 | 137 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/28 | 295 | 324 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 8/1/28 | 120 | 124 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 9/1/28 | 390 | 411 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/29 | 50 | 56 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/29 | 155 | 173 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 9/1/29 | 410 | 414 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 7/1/30 | 100 | 113 | |
Connecticut Special Tax Fuel Sales Tax Revenue | 5.000% | 9/1/30 | 20 | 21 | |
Connecticut State Health & Educational Facilities Authority College & University Revenue PUT | 0.250% | 2/9/24 | 100 | 99 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Connecticut State Health & Educational Facilities Authority College & University Revenue PUT | 2.800% | 2/3/26 | 400 | 393 | |
Connecticut State Health & Educational Facilities Authority College & University Revenue PUT | 2.800% | 2/10/26 | 250 | 246 | |
Connecticut State Health & Educational Facilities Authority College & University Revenue PUT | 2.000% | 7/1/26 | 200 | 191 | |
Connecticut State Health & Educational Facilities Authority College & University Revenue PUT | 3.200% | 7/1/26 | 10 | 10 | |
Connecticut State Health & Educational Facilities Authority College & University Revenue PUT | 5.000% | 2/1/28 | 40 | 44 | |
10,853 | |||||
Delaware (0.1%) | |||||
Delaware GO | 5.000% | 1/1/28 | 167 | 182 | |
Delaware GO | 5.000% | 3/1/29 | 25 | 28 | |
210 | |||||
District of Columbia (1.1%) | |||||
Columbia Water & Sewer Authority Water Revenue, Prere. | 5.000% | 10/1/24 | 340 | 345 | |
District of Columbia College & University Revenue | 5.000% | 4/1/30 | 30 | 32 | |
District of Columbia GO | 5.000% | 6/1/24 | 150 | 151 | |
District of Columbia GO | 5.000% | 10/15/25 | 285 | 296 | |
District of Columbia GO | 5.000% | 10/15/26 | 100 | 106 | |
District of Columbia GO | 5.000% | 10/15/27 | 50 | 54 | |
District of Columbia GO | 5.000% | 6/1/29 | 225 | 252 | |
District of Columbia GO | 5.000% | 10/15/30 | 155 | 172 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/24 | 185 | 188 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/25 | 270 | 279 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/25 | 150 | 155 | |
District of Columbia Income Tax Revenue | 5.000% | 12/1/25 | 65 | 68 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/26 | 285 | 302 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/27 | 125 | 136 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/27 | 260 | 282 | |
District of Columbia Income Tax Revenue | 5.000% | 12/1/27 | 90 | 98 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/28 | 70 | 77 | |
District of Columbia Income Tax Revenue | 5.000% | 10/1/29 | 5 | 6 | |
District of Columbia Income Tax Revenue | 5.000% | 12/1/29 | 140 | 158 | |
District of Columbia Income Tax Revenue | 5.000% | 3/1/30 | 140 | 157 | |
District of Columbia Income Tax Revenue | 5.000% | 12/1/30 | 25 | 29 | |
6 | Metropolitan Washington Airports Authority Dulles Toll Road Highway Revenue, Prere. | 6.500% | 10/1/26 | 500 | 548 |
Washington Convention & Sports Authority Miscellaneous Taxes Revenue | 5.000% | 10/1/28 | 160 | 172 | |
Washington Convention & Sports Authority Miscellaneous Taxes Revenue | 5.000% | 10/1/30 | 150 | 161 | |
4,224 | |||||
Florida (2.2%) | |||||
Broward County FL School District COP | 5.000% | 7/1/24 | 50 | 51 | |
Broward County FL School District COP | 5.000% | 7/1/24 | 205 | 207 | |
Broward County FL School District COP | 5.000% | 7/1/28 | 245 | 268 | |
2 | Central Florida Expressway Authority Highway Revenue | 5.000% | 7/1/27 | 115 | 124 |
Central Florida Expressway Authority Highway Revenue | 5.000% | 7/1/28 | 85 | 89 | |
2 | Central Florida Expressway Authority Highway Revenue | 5.000% | 7/1/28 | 250 | 274 |
Central Florida Expressway Authority Highway Revenue | 4.000% | 7/1/30 | 185 | 187 | |
2 | Duval County Public Schools COP | 5.000% | 7/1/25 | 100 | 103 |
2 | Duval County Public Schools COP | 5.000% | 7/1/27 | 170 | 182 |
2 | Duval County Public Schools COP | 5.000% | 7/1/28 | 280 | 305 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
2 | Duval County Public Schools COP | 5.000% | 7/1/29 | 185 | 204 |
Florida Department of Environmental Protection Sales Tax Revenue | 5.000% | 7/1/25 | 150 | 151 | |
Florida Department of Management Services COP | 5.000% | 11/1/26 | 140 | 148 | |
Florida Department of Transportation Turnpike System Highway Revenue | 5.000% | 7/1/25 | 50 | 51 | |
Florida Department of Transportation Turnpike System Highway Revenue | 5.000% | 7/1/27 | 120 | 129 | |
Florida GO | 5.000% | 6/1/24 | 400 | 404 | |
Florida GO | 5.000% | 6/1/27 | 50 | 54 | |
Florida GO | 5.000% | 6/1/29 | 100 | 112 | |
Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue | 5.000% | 9/1/24 | 200 | 202 | |
Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue | 5.000% | 9/1/25 | 100 | 102 | |
Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue | 5.000% | 9/1/26 | 110 | 115 | |
Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue | 5.000% | 9/1/27 | 100 | 105 | |
Florida Insurance Assistance Interlocal Agency Inc. Miscellaneous Revenue | 5.000% | 9/1/28 | 100 | 105 | |
Florida Lottery Revenue | 5.000% | 7/1/25 | 110 | 113 | |
Florida Lottery Revenue | 5.000% | 7/1/27 | 415 | 447 | |
Florida Municipal Power Agency Electric Power & Light Revenue | 5.000% | 10/1/24 | 65 | 66 | |
Florida Municipal Power Agency Electric Power & Light Revenue | 5.000% | 10/1/27 | 170 | 178 | |
Florida Municipal Power Agency Electric Power & Light Revenue | 5.000% | 10/1/28 | 60 | 63 | |
Florida Municipal Power Agency Electric Power & Light Revenue | 5.000% | 10/1/29 | 205 | 214 | |
Florida Municipal Power Agency Electric Power & Light Revenue | 5.000% | 10/1/30 | 35 | 36 | |
Hillsborough County Aviation Authority Port, Airport & Marina Revenue, Prere. | 5.000% | 10/1/24 | 25 | 25 | |
Hillsborough County School Board (Master Lease Program) COP | 5.000% | 7/1/26 | 390 | 398 | |
JEA Electric System Electric Power & Light Revenue | 5.000% | 10/1/27 | 125 | 134 | |
JEA Electric System Electric Power & Light Revenue | 5.000% | 10/1/30 | 30 | 32 | |
Miami-Dade County Expressway Authority Highway Revenue | 5.000% | 7/1/24 | 240 | 242 | |
Miami-Dade County Expressway Authority Highway Revenue | 5.000% | 7/1/25 | 125 | 126 | |
Miami-Dade County FL Water & Sewer System Water Revenue | 5.000% | 10/1/24 | 120 | 122 | |
Miami-Dade County FL Water & Sewer System Water Revenue | 5.000% | 10/1/26 | 345 | 356 | |
Miami-Dade County FL Water & Sewer System Water Revenue | 5.000% | 10/1/27 | 105 | 113 | |
Miami-Dade County FL Water & Sewer System Water Revenue | 5.000% | 10/1/28 | 180 | 193 | |
Miami-Dade County FL Water & Sewer System Water Revenue | 5.000% | 10/1/30 | 100 | 103 | |
Miami-Dade County FL Water & Sewer Water Revenue | 5.000% | 10/1/25 | 110 | 114 | |
Miami-Dade County School Board COP | 5.000% | 2/1/24 | 155 | 155 | |
Miami-Dade County School Board COP | 5.000% | 2/1/26 | 60 | 62 | |
Miami-Dade County School Board COP | 5.000% | 5/1/27 | 65 | 66 | |
Miami-Dade County School Board COP | 5.000% | 5/1/28 | 135 | 138 | |
Miami-Dade County School Board COP | 5.000% | 2/1/29 | 155 | 160 | |
Orange County School Board COP, Prere. | 5.000% | 8/1/25 | 105 | 108 | |
Orange County School Board COP, Prere. | 5.000% | 8/1/25 | 100 | 103 | |
Orlando Utilities Commission Electric Power & Light Revenue PUT | 1.250% | 10/1/28 | 180 | 155 | |
Orlando Utilities Commission Water Revenue | 5.000% | 10/1/24 | 55 | 56 | |
Palm Beach County School District COP | 5.000% | 8/1/26 | 505 | 532 | |
Palm Beach County School District COP | 5.000% | 8/1/27 | 140 | 150 | |
Palm Beach County School District COP | 5.000% | 8/1/27 | 10 | 10 | |
School Board of Miami-Dade County COP | 4.000% | 8/1/29 | 100 | 100 | |
5 | Tampa Bay Water Revenue | 6.000% | 10/1/29 | 105 | 123 |
8,665 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Georgia (2.1%) | |||||
Atlanta GA Airport Passenger Facility Charge Port, Airport & Marina Revenue | 5.000% | 1/1/29 | 60 | 60 | |
Atlanta GA Airport Passenger Facility Charge Port, Airport & Marina Revenue | 5.000% | 1/1/30 | 200 | 200 | |
Atlanta GA Airport Passenger Facility Charge Port, Airport & Marina Revenue | 5.000% | 1/1/31 | 125 | 125 | |
Atlanta GA Department of Aviation Port, Airport & Marina Revenue | 5.000% | 7/1/25 | 150 | 155 | |
Atlanta GA Department of Aviation Port, Airport & Marina Revenue | 5.000% | 7/1/30 | 100 | 113 | |
Atlanta GA Water & Wastewater Revenue | 5.000% | 11/1/25 | 25 | 26 | |
Atlanta GA Water & Wastewater Revenue | 5.000% | 11/1/26 | 20 | 21 | |
2 | Atlanta GA Water & Wastewater Revenue | 5.250% | 11/1/27 | 35 | 37 |
Atlanta GA Water & Wastewater Revenue | 5.000% | 11/1/28 | 245 | 251 | |
Atlanta GA Water & Wastewater Revenue, Prere. | 5.000% | 5/1/25 | 10 | 10 | |
Atlanta GA Water & Wastewater Revenue, Prere. | 5.000% | 5/1/25 | 50 | 51 | |
Georgia GO | 5.000% | 12/1/23 | 85 | 85 | |
Georgia GO | 4.000% | 7/1/25 | 190 | 193 | |
Georgia GO | 5.000% | 7/1/25 | 100 | 103 | |
Georgia GO | 5.000% | 7/1/25 | 50 | 52 | |
Georgia GO | 5.000% | 7/1/25 | 100 | 103 | |
Georgia GO | 5.000% | 8/1/25 | 165 | 171 | |
Georgia GO | 4.000% | 1/1/26 | 100 | 102 | |
Georgia GO | 5.000% | 1/1/26 | 85 | 89 | |
Georgia GO | 4.000% | 2/1/26 | 165 | 165 | |
Georgia GO | 5.000% | 2/1/26 | 75 | 78 | |
Georgia GO | 5.000% | 2/1/26 | 35 | 37 | |
Georgia GO | 5.000% | 7/1/26 | 130 | 137 | |
Georgia GO | 4.000% | 1/1/27 | 100 | 104 | |
Georgia GO | 5.000% | 2/1/27 | 115 | 123 | |
Georgia GO | 5.000% | 7/1/27 | 75 | 81 | |
Georgia GO | 5.000% | 7/1/27 | 15 | 16 | |
Georgia GO | 5.000% | 7/1/27 | 20 | 21 | |
Georgia GO | 5.000% | 7/1/27 | 100 | 108 | |
Georgia GO | 5.000% | 8/1/27 | 45 | 49 | |
Georgia GO | 5.000% | 12/1/27 | 385 | 410 | |
Georgia GO | 4.000% | 1/1/28 | 100 | 105 | |
Georgia GO | 5.000% | 2/1/28 | 285 | 305 | |
Georgia GO | 5.000% | 7/1/28 | 105 | 116 | |
Georgia GO | 5.000% | 7/1/28 | 430 | 474 | |
Georgia GO | 5.000% | 8/1/28 | 140 | 155 | |
Georgia GO | 3.000% | 2/1/29 | 140 | 140 | |
Georgia GO | 5.000% | 2/1/29 | 150 | 160 | |
Georgia GO | 4.000% | 7/1/29 | 65 | 69 | |
Georgia GO | 5.000% | 7/1/29 | 10 | 11 | |
Georgia GO | 5.000% | 7/1/29 | 10 | 11 | |
Georgia GO | 5.000% | 2/1/30 | 30 | 31 | |
Georgia GO | 5.000% | 2/1/30 | 100 | 107 | |
Georgia GO | 5.000% | 7/1/30 | 255 | 285 | |
Georgia GO | 5.000% | 7/1/30 | 40 | 46 | |
Georgia GO | 5.000% | 7/1/30 | 150 | 171 | |
Georgia GO | 5.000% | 8/1/30 | 215 | 245 | |
1 | Georgia Municipal Electric Authority Electric Power & Light Revenue | 7.000% | 1/1/25 | 5 | 5 |
Georgia State Road & Tollway Authority Government Fund/Grant Revenue | 5.000% | 6/1/26 | 250 | 263 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Georgia State Road & Tollway Authority Government Fund/Grant Revenue | 5.000% | 6/1/27 | 120 | 129 | |
Georgia State Road & Tollway Authority Government Fund/Grant Revenue | 5.000% | 6/1/28 | 95 | 104 | |
Georgia State Road & Tollway Authority Government Fund/Grant Revenue | 5.000% | 6/1/29 | 25 | 28 | |
Georgia State Road & Tollway Authority Government Fund/Grant Revenue | 5.000% | 6/1/30 | 5 | 6 | |
Gwinnett County School District GO | 5.000% | 8/1/27 | 250 | 270 | |
Metropolitan Atlanta Rapid Transit Authority Sales Tax Revenue | 4.000% | 7/1/24 | 185 | 186 | |
Metropolitan Atlanta Rapid Transit Authority Sales Tax Revenue | 4.000% | 7/1/25 | 75 | 76 | |
Private Colleges & Universities Authority College & University Revenue | 5.000% | 9/1/25 | 530 | 548 | |
Private Colleges & Universities Authority College & University Revenue | 5.000% | 9/1/29 | 130 | 146 | |
Private Colleges & Universities Authority College & University Revenue | 5.000% | 9/1/29 | 125 | 141 | |
Private Colleges & Universities Authority College & University Revenue | 5.000% | 9/1/30 | 60 | 69 | |
Private Colleges & Universities Authority College & University Revenue, Prere. | 5.000% | 4/1/24 | 275 | 277 | |
Sandy Springs Public Facilities Authority Lease (Non-Terminable) Revenue (Sandy Springs City Center Project), Prere. | 4.000% | 5/1/26 | 305 | 313 | |
8,268 | |||||
Hawaii (0.9%) | |||||
Hawaii GO | 5.000% | 8/1/24 | 50 | 51 | |
Hawaii GO | 5.000% | 10/1/24 | 165 | 168 | |
Hawaii GO | 5.000% | 8/1/25 | 100 | 101 | |
Hawaii GO | 5.000% | 10/1/25 | 135 | 140 | |
Hawaii GO | 5.000% | 10/1/25 | 210 | 218 | |
Hawaii GO | 5.000% | 1/1/26 | 75 | 78 | |
Hawaii GO | 4.000% | 4/1/26 | 10 | 10 | |
Hawaii GO | 5.000% | 5/1/26 | 140 | 147 | |
Hawaii GO | 5.000% | 10/1/26 | 170 | 176 | |
Hawaii GO | 5.000% | 10/1/26 | 165 | 175 | |
Hawaii GO | 5.000% | 10/1/27 | 45 | 47 | |
Hawaii GO | 5.000% | 10/1/27 | 50 | 53 | |
Hawaii GO | 5.000% | 5/1/28 | 50 | 53 | |
Hawaii GO | 5.000% | 1/1/29 | 135 | 146 | |
Hawaii GO | 5.000% | 10/1/29 | 95 | 100 | |
Hawaii GO | 5.000% | 1/1/30 | 235 | 253 | |
Hawaii GO | 5.000% | 10/1/30 | 20 | 21 | |
Hawaii GO, Prere. | 5.000% | 10/1/25 | 30 | 31 | |
Honolulu HI City & County (Honolulu Rail Transit Project) GO | 5.000% | 9/1/26 | 50 | 53 | |
Honolulu HI City & County (Honolulu Rail Transit Project) GO | 5.000% | 3/1/27 | 75 | 80 | |
Honolulu HI City & County (Honolulu Rail Transit Project) GO | 5.000% | 3/1/28 | 120 | 131 | |
Honolulu HI City & County (Honolulu Rail Transit Project) GO | 5.000% | 3/1/30 | 230 | 259 | |
Honolulu HI City & County (Honolulu Rail Transit Project) GO | 5.000% | 9/1/30 | 25 | 27 | |
Honolulu HI City & County GO (Honolulu Rail Transit Project) | 5.000% | 3/1/26 | 560 | 585 | |
Honolulu HI City & County GO (Honolulu Rail Transit Project) | 5.000% | 3/1/27 | 135 | 144 | |
Honolulu HI City & County GO (Honolulu Rail Transit Project) | 5.000% | 9/1/29 | 5 | 6 | |
Honolulu HI City & County GO (Honolulu Rail Transit Project) | 5.000% | 3/1/30 | 100 | 113 | |
3,366 | |||||
Idaho (0.1%) | |||||
Idaho Housing & Finance Association Appropriations Revenue | 5.000% | 7/15/29 | 230 | 254 | |
Idaho Housing & Finance Association Appropriations Revenue RAN | 5.000% | 7/15/26 | 60 | 63 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Idaho State Building Authority Lease (Appropriation) Revenue (St. Office Campus Project), Prere. | 4.000% | 9/1/27 | 15 | 16 | |
333 | |||||
Illinois (6.0%) | |||||
Chicago IL GO | 5.000% | 1/1/25 | 500 | 506 | |
Chicago IL GO | 5.000% | 1/1/26 | 150 | 153 | |
Chicago IL GO | 5.000% | 1/1/27 | 250 | 259 | |
Chicago IL GO | 5.000% | 1/1/28 | 55 | 57 | |
Chicago IL GO | 5.000% | 1/1/29 | 150 | 158 | |
Chicago IL GO | 5.000% | 1/1/30 | 50 | 53 | |
5 | Chicago IL GO, ETM | 0.000% | 1/1/28 | 50 | 44 |
Chicago IL GO, ETM | 5.250% | 1/1/28 | 210 | 215 | |
7 | Chicago Midway International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/26 | 100 | 104 |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/24 | 1,000 | 1,001 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/24 | 700 | 701 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/25 | 65 | 66 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/25 | 80 | 81 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/26 | 100 | 101 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/27 | 20 | 20 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/28 | 230 | 233 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.250% | 1/1/28 | 65 | 69 | |
Chicago O'Hare International Airport Port, Airport & Marina Revenue | 5.000% | 1/1/29 | 215 | 218 | |
Chicago Park District GO, Prere. | 5.500% | 1/1/24 | 215 | 215 | |
Chicago Park District GO, Prere. | 5.750% | 1/1/24 | 200 | 200 | |
Chicago Transit Authority Capital Grant Receipts Government Fund/Grant Revenue | 5.000% | 6/1/28 | 300 | 319 | |
Cook County IL GO | 4.000% | 11/15/25 | 60 | 61 | |
Cook County IL GO | 5.000% | 11/15/25 | 265 | 273 | |
Cook County IL GO | 4.000% | 11/15/26 | 85 | 87 | |
2 | Cook County IL GO | 5.000% | 11/15/26 | 45 | 47 |
Cook County IL GO | 5.000% | 11/15/29 | 40 | 44 | |
Illinois GO | 5.000% | 3/1/24 | 475 | 476 | |
Illinois GO | 5.000% | 3/1/24 | 250 | 251 | |
Illinois GO | 5.000% | 7/1/24 | 135 | 136 | |
Illinois GO | 5.000% | 11/1/24 | 435 | 440 | |
Illinois GO | 5.000% | 12/1/24 | 250 | 253 | |
Illinois GO | 5.000% | 2/1/25 | 430 | 437 | |
Illinois GO | 5.000% | 3/1/25 | 70 | 71 | |
Illinois GO | 5.000% | 3/1/25 | 650 | 661 | |
Illinois GO | 5.000% | 3/1/25 | 500 | 508 | |
Illinois GO | 5.000% | 7/1/25 | 220 | 225 | |
Illinois GO | 5.000% | 11/1/25 | 700 | 719 | |
Illinois GO | 5.000% | 11/1/25 | 80 | 82 | |
Illinois GO | 5.000% | 12/1/25 | 135 | 139 | |
Illinois GO | 5.000% | 2/1/26 | 150 | 150 | |
Illinois GO | 5.000% | 2/1/26 | 110 | 113 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Illinois GO | 5.000% | 3/1/26 | 100 | 103 | |
Illinois GO | 5.000% | 3/1/26 | 50 | 52 | |
Illinois GO | 5.000% | 7/1/26 | 240 | 249 | |
Illinois GO | 5.000% | 10/1/26 | 100 | 104 | |
Illinois GO | 5.000% | 11/1/26 | 625 | 652 | |
Illinois GO | 5.000% | 2/1/27 | 120 | 126 | |
Illinois GO | 5.000% | 3/1/27 | 145 | 152 | |
Illinois GO | 5.000% | 3/1/27 | 200 | 209 | |
Illinois GO | 5.000% | 3/1/27 | 275 | 288 | |
Illinois GO | 5.000% | 6/1/27 | 155 | 159 | |
Illinois GO | 5.000% | 7/1/27 | 125 | 132 | |
Illinois GO | 5.000% | 11/1/27 | 795 | 842 | |
Illinois GO | 5.000% | 2/1/28 | 50 | 52 | |
Illinois GO | 5.000% | 3/1/28 | 300 | 319 | |
Illinois GO | 5.000% | 3/1/28 | 125 | 133 | |
Illinois GO | 5.000% | 3/1/28 | 50 | 53 | |
Illinois GO | 5.000% | 5/1/28 | 100 | 107 | |
Illinois GO | 5.000% | 7/1/28 | 225 | 241 | |
Illinois GO | 5.000% | 10/1/28 | 120 | 129 | |
Illinois GO | 5.000% | 11/1/28 | 135 | 143 | |
Illinois GO | 5.000% | 12/1/28 | 25 | 27 | |
Illinois GO | 5.000% | 3/1/29 | 250 | 269 | |
Illinois GO | 5.000% | 5/1/29 | 100 | 108 | |
Illinois GO | 5.000% | 7/1/29 | 500 | 541 | |
Illinois GO | 5.000% | 10/1/29 | 100 | 106 | |
Illinois GO | 5.000% | 11/1/29 | 250 | 263 | |
2 | Illinois GO | 4.000% | 2/1/30 | 365 | 369 |
Illinois GO | 5.250% | 2/1/30 | 100 | 100 | |
Illinois GO | 5.000% | 3/1/30 | 270 | 294 | |
Illinois GO | 5.000% | 5/1/30 | 100 | 109 | |
Illinois GO | 5.500% | 5/1/30 | 100 | 110 | |
Illinois GO | 5.000% | 7/1/30 | 310 | 338 | |
Illinois Municipal Electric Agency Electric Power & Light Revenue | 5.000% | 2/1/24 | 200 | 200 | |
Illinois Municipal Electric Agency Electric Power & Light Revenue | 5.000% | 2/1/25 | 240 | 245 | |
Illinois Municipal Electric Agency Electric Power & Light Revenue | 5.000% | 2/1/27 | 100 | 103 | |
Illinois Municipal Electric Agency Electric Power & Light Revenue | 5.000% | 2/1/29 | 135 | 138 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/24 | 65 | 65 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/25 | 375 | 383 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/25 | 100 | 102 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/25 | 260 | 265 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/26 | 80 | 83 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/26 | 175 | 182 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/27 | 100 | 106 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/27 | 345 | 367 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/28 | 325 | 353 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/29 | 115 | 127 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/29 | 345 | 381 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/30 | 15 | 16 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/30 | 90 | 101 | |
Illinois State Toll Highway Authority Highway Revenue | 5.000% | 1/1/30 | 125 | 141 | |
Metropolitan Water Reclamation District of Greater Chicago GO | 5.000% | 12/1/23 | 25 | 25 | |
Metropolitan Water Reclamation District of Greater Chicago GO | 5.000% | 12/1/25 | 125 | 130 | |
Metropolitan Water Reclamation District of Greater Chicago GO | 5.000% | 12/1/26 | 210 | 222 | |
Metropolitan Water Reclamation District of Greater Chicago GO | 5.000% | 12/1/27 | 10 | 11 | |
Metropolitan Water Reclamation District of Greater Chicago GO | 5.000% | 12/1/28 | 50 | 53 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Metropolitan Water Reclamation District of Greater Chicago GO | 5.000% | 12/1/29 | 310 | 327 | |
Metropolitan Water Reclamation District of Greater Chicago GO, Prere. | 5.000% | 12/1/24 | 880 | 896 | |
2 | Regional Transportation Authority Sales Tax Revenue | 5.750% | 6/1/29 | 140 | 158 |
Sales Tax Securitization Corp. Intergovernmental Agreement Revenue | 5.000% | 1/1/27 | 10 | 11 | |
Sales Tax Securitization Corp. Intergovernmental Agreement Revenue | 5.000% | 1/1/30 | 405 | 446 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/24 | 180 | 180 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/24 | 250 | 250 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/25 | 150 | 153 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/27 | 160 | 169 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/28 | 145 | 156 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/29 | 50 | 55 | |
Sales Tax Securitization Corp. Sales Tax Revenue | 5.000% | 1/1/30 | 5 | 6 | |
2 | St Clair County Community Unit School District No. 187 Cahokia GO, ETM | 4.000% | 1/1/28 | 25 | 26 |
23,457 | |||||
Indiana (0.4%) | |||||
Indiana Finance Authority Lease (Appropriation) Revenue (Stadium Project) | 5.000% | 2/1/30 | 60 | 67 | |
Indiana Finance Authority Lease Revenue | 5.000% | 12/1/24 | 520 | 530 | |
Indiana Finance Authority Lease Revenue | 5.000% | 12/1/25 | 200 | 208 | |
Indiana Finance Authority Lease Revenue | 5.000% | 2/1/26 | 25 | 26 | |
Indiana Finance Authority Lease Revenue | 5.000% | 6/1/27 | 5 | 5 | |
Indiana Finance Authority Lease Revenue | 5.000% | 6/1/28 | 100 | 106 | |
Indiana Finance Authority Lease Revenue | 5.000% | 6/1/29 | 115 | 128 | |
Indiana Finance Authority Water Revenue | 5.000% | 2/1/24 | 250 | 251 | |
Indiana Finance Authority Water Revenue | 5.000% | 2/1/25 | 50 | 51 | |
Indiana Finance Authority Water Revenue | 5.000% | 2/1/27 | 15 | 16 | |
1 | Indianapolis Local Public Improvement Bond Bank Miscellaneous Revenue | 0.000% | 2/1/27 | 235 | 211 |
1,599 | |||||
Iowa (0.1%) | |||||
Iowa Finance Authority Water Revenue | 5.000% | 8/1/27 | 60 | 65 | |
Iowa Finance Authority Water Revenue | 5.000% | 8/1/28 | 165 | 178 | |
Iowa Finance Authority Water Revenue | 5.000% | 8/1/30 | 150 | 161 | |
404 | |||||
Kansas (0.4%) | |||||
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/24 | 65 | 66 | |
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/25 | 105 | 106 | |
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/26 | 250 | 253 | |
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/26 | 135 | 140 | |
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/27 | 15 | 15 | |
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/28 | 300 | 310 | |
Kansas Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/29 | 140 | 144 | |
Wyandotte County Unified School District No. 500 Kansas City GO, Prere. | 4.125% | 9/1/26 | 250 | 259 | |
Wyandotte County Unified School District No. 500 Kansas City GO, Prere. | 5.500% | 9/1/26 | 80 | 86 | |
1,379 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Kentucky (0.2%) | |||||
Kentucky Asset Liability Commission Appropriations Revenue (Project Notes Federal Highway Trust First) | 5.000% | 9/1/26 | 100 | 101 | |
Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) | 5.000% | 11/1/24 | 60 | 61 | |
Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) | 5.000% | 11/1/25 | 75 | 78 | |
Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) | 5.000% | 11/1/26 | 250 | 265 | |
Kentucky State Property & Building Commission Lease (Appropriation) Revenue (Project No. 112) | 5.000% | 11/1/28 | 205 | 216 | |
Kentucky Turnpike Authority Lease (Appropriation) Revenue (Revitalization Projects) | 5.000% | 7/1/25 | 130 | 133 | |
854 | |||||
Louisiana (0.9%) | |||||
East Baton Rouge Sewerage Commission Sewer Revenue, Prere. | 5.000% | 2/1/25 | 435 | 445 | |
Louisiana Gasoline & Fuels Tax Fuel Sales Tax Revenue, Prere. | 4.500% | 5/1/25 | 105 | 107 | |
Louisiana GO | 5.000% | 8/1/25 | 375 | 380 | |
Louisiana GO | 5.000% | 8/1/26 | 165 | 174 | |
Louisiana GO | 5.000% | 8/1/27 | 90 | 95 | |
Louisiana GO | 5.000% | 8/1/28 | 200 | 211 | |
Louisiana GO | 4.000% | 2/1/29 | 200 | 200 | |
Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 5.000% | 8/15/28 | 100 | 105 | |
Louisiana Local Government Environmental Facilities & Community Development Authority Intergovernmental Agreement Revenue | 5.000% | 8/15/30 | 100 | 105 | |
Louisiana Local Government Environmental Facilities & Community Development Authority Sewer Revenue, Prere. | 4.375% | 2/1/24 | 10 | 10 | |
Louisiana Local Government Environmental Facilities & Community Development Authority Sewer Revenue, Prere. | 5.000% | 2/1/24 | 90 | 90 | |
Louisiana Local Government Environmental Facilities & Community Development Authority Sewer Revenue, Prere. | 5.000% | 2/1/24 | 1,000 | 1,003 | |
Louisiana Public Facilities Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.500% | 5/15/26 | 140 | 145 | |
New Orleans LA Sewerage Service Sewer Revenue, Prere. | 5.000% | 6/1/24 | 150 | 151 | |
New Orleans LA Water System Water Revenue, Prere. | 5.000% | 12/1/24 | 285 | 290 | |
3,511 | |||||
Maryland (3.9%) | |||||
Baltimore MD Sewer Revenue (Wastewater Projects), Prere. | 5.000% | 1/1/24 | 250 | 250 | |
Baltimore MD Water Revenue (Water Project), Prere. | 5.000% | 1/1/24 | 395 | 396 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/24 | 100 | 102 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/25 | 45 | 47 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/25 | 80 | 83 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 4.000% | 11/1/25 | 190 | 192 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/26 | 125 | 133 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/26 | 140 | 149 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 11/1/26 | 295 | 300 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/27 | 40 | 42 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/27 | 100 | 108 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/28 | 70 | 76 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/28 | 185 | 200 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 3.000% | 11/1/28 | 255 | 253 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 9/1/29 | 65 | 70 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 5.000% | 10/1/29 | 25 | 26 | |
Maryland Department of Transportation Fuel Sales Tax Revenue | 4.000% | 12/15/29 | 115 | 115 | |
Maryland GO | 5.000% | 3/15/24 | 170 | 171 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Maryland GO | 5.000% | 6/1/24 | 180 | 182 | |
Maryland GO | 5.000% | 8/1/24 | 500 | 507 | |
Maryland GO | 5.000% | 8/1/24 | 50 | 51 | |
Maryland GO | 5.000% | 8/1/24 | 175 | 177 | |
Maryland GO | 5.000% | 8/1/24 | 125 | 127 | |
Maryland GO | 4.000% | 6/1/25 | 235 | 236 | |
Maryland GO | 5.000% | 8/1/25 | 220 | 228 | |
Maryland GO | 5.000% | 8/1/25 | 300 | 311 | |
Maryland GO | 5.000% | 8/1/25 | 80 | 83 | |
Maryland GO | 5.000% | 3/15/26 | 245 | 257 | |
Maryland GO | 5.000% | 3/15/26 | 125 | 131 | |
Maryland GO | 3.000% | 8/1/26 | 120 | 121 | |
Maryland GO | 5.000% | 8/1/26 | 190 | 201 | |
Maryland GO | 5.000% | 8/1/26 | 450 | 476 | |
Maryland GO | 5.000% | 8/1/26 | 55 | 58 | |
Maryland GO | 5.000% | 8/1/26 | 100 | 106 | |
Maryland GO | 5.000% | 3/15/27 | 280 | 300 | |
Maryland GO | 5.000% | 3/15/27 | 115 | 123 | |
Maryland GO | 5.000% | 3/15/27 | 80 | 86 | |
Maryland GO | 5.000% | 8/1/27 | 155 | 168 | |
Maryland GO | 5.000% | 8/1/27 | 30 | 32 | |
Maryland GO | 5.000% | 8/1/27 | 100 | 108 | |
Maryland GO | 5.000% | 3/15/28 | 125 | 137 | |
Maryland GO | 4.000% | 6/1/28 | 80 | 80 | |
Maryland GO | 5.000% | 6/1/28 | 150 | 165 | |
Maryland GO | 5.000% | 8/1/28 | 585 | 646 | |
Maryland GO | 5.000% | 8/1/28 | 485 | 535 | |
Maryland GO | 5.000% | 8/1/28 | 225 | 248 | |
Maryland GO | 5.000% | 8/1/28 | 525 | 567 | |
Maryland GO | 5.000% | 3/15/29 | 220 | 241 | |
Maryland GO | 5.000% | 3/15/29 | 215 | 240 | |
Maryland GO | 4.000% | 6/1/29 | 200 | 200 | |
Maryland GO | 4.000% | 8/1/29 | 120 | 129 | |
Maryland GO | 5.000% | 8/1/29 | 165 | 185 | |
Maryland GO | 5.000% | 8/1/29 | 150 | 165 | |
Maryland GO | 5.000% | 8/1/29 | 150 | 161 | |
Maryland GO | 5.000% | 3/15/30 | 160 | 175 | |
Maryland GO | 5.000% | 3/15/30 | 230 | 256 | |
Maryland GO | 5.000% | 3/15/30 | 55 | 62 | |
Maryland GO | 5.000% | 6/1/30 | 75 | 85 | |
Maryland GO | 5.000% | 8/1/30 | 140 | 157 | |
Maryland GO | 5.000% | 8/1/30 | 25 | 29 | |
Maryland GO | 5.000% | 8/1/30 | 60 | 68 | |
Maryland GO | 5.000% | 8/1/30 | 235 | 259 | |
Maryland Stadium Authority Lottery Revenue, Prere. | 5.000% | 5/1/26 | 115 | 121 | |
Maryland Stadium Authority Lottery Revenue, Prere. | 5.000% | 5/1/26 | 1,000 | 1,052 | |
Maryland Stadium Authority Lottery Revenue, Prere. | 5.000% | 5/1/28 | 135 | 147 | |
Montgomery County MD GO | 5.000% | 11/1/24 | 130 | 132 | |
Montgomery County MD GO | 5.000% | 10/1/25 | 135 | 140 | |
Montgomery County MD GO | 5.000% | 10/1/26 | 360 | 382 | |
Montgomery County MD GO | 5.000% | 11/1/26 | 235 | 239 | |
Montgomery County MD GO, Prere. | 5.000% | 11/1/24 | 75 | 76 | |
Montgomery County MD GO, Prere. | 5.000% | 11/1/24 | 225 | 229 | |
Montgomery County MD GO, Prere. | 5.000% | 11/1/24 | 100 | 102 | |
Montgomery County MD GO, Prere. | 5.000% | 11/1/24 | 420 | 427 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Prince George's County MD GO | 5.000% | 7/15/26 | 80 | 84 | |
Prince George's County MD GO | 5.000% | 7/15/27 | 160 | 173 | |
Prince George's County MD GO | 5.000% | 7/15/28 | 60 | 66 | |
Prince George's County MD GO | 3.000% | 9/15/28 | 215 | 215 | |
Prince George's County MD GO | 5.000% | 7/15/29 | 165 | 182 | |
15,339 | |||||
Massachusetts (3.1%) | |||||
Commonwealth of Massachusetts Federal Highway Government Fund/Grant Revenue | 5.000% | 6/15/26 | 35 | 36 | |
Commonwealth of Massachusetts Federal Highway Government Fund/Grant Revenue GAN | 5.000% | 6/15/26 | 135 | 136 | |
1 | Commonwealth of Massachusetts GO | 5.500% | 12/1/23 | 25 | 25 |
Commonwealth of Massachusetts GO | 5.000% | 7/1/24 | 255 | 258 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/24 | 145 | 147 | |
2 | Commonwealth of Massachusetts GO | 5.250% | 9/1/24 | 65 | 66 |
Commonwealth of Massachusetts GO | 5.000% | 10/1/24 | 150 | 152 | |
Commonwealth of Massachusetts GO | 5.000% | 11/1/24 | 220 | 224 | |
1 | Commonwealth of Massachusetts GO | 5.500% | 12/1/24 | 50 | 51 |
Commonwealth of Massachusetts GO | 5.000% | 1/1/25 | 125 | 128 | |
Commonwealth of Massachusetts GO | 5.000% | 5/1/25 | 100 | 103 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/25 | 80 | 82 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/25 | 240 | 247 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/25 | 340 | 351 | |
2 | Commonwealth of Massachusetts GO | 5.250% | 9/1/25 | 205 | 213 |
Commonwealth of Massachusetts GO | 3.000% | 12/1/25 | 150 | 150 | |
Commonwealth of Massachusetts GO | 5.000% | 1/1/26 | 200 | 209 | |
Commonwealth of Massachusetts GO | 5.000% | 4/1/26 | 5 | 5 | |
Commonwealth of Massachusetts GO | 5.000% | 5/1/26 | 100 | 105 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/26 | 130 | 137 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/26 | 255 | 269 | |
Commonwealth of Massachusetts GO | 5.000% | 10/1/26 | 345 | 366 | |
Commonwealth of Massachusetts GO | 5.000% | 11/1/26 | 110 | 117 | |
Commonwealth of Massachusetts GO | 5.000% | 12/1/26 | 220 | 235 | |
Commonwealth of Massachusetts GO | 5.000% | 1/1/27 | 70 | 75 | |
Commonwealth of Massachusetts GO | 5.000% | 5/1/27 | 100 | 108 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/27 | 60 | 65 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/27 | 135 | 146 | |
Commonwealth of Massachusetts GO | 5.000% | 9/1/27 | 65 | 70 | |
Commonwealth of Massachusetts GO | 5.000% | 10/1/27 | 70 | 76 | |
Commonwealth of Massachusetts GO | 5.000% | 11/1/27 | 250 | 272 | |
Commonwealth of Massachusetts GO | 5.000% | 11/1/27 | 150 | 163 | |
Commonwealth of Massachusetts GO | 5.000% | 5/1/28 | 100 | 110 | |
Commonwealth of Massachusetts GO | 3.000% | 7/1/28 | 50 | 50 | |
Commonwealth of Massachusetts GO | 3.250% | 7/1/28 | 100 | 100 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/28 | 100 | 110 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/28 | 300 | 331 | |
Commonwealth of Massachusetts GO | 5.250% | 8/1/28 | 140 | 156 | |
Commonwealth of Massachusetts GO | 5.000% | 5/1/29 | 100 | 112 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/29 | 270 | 303 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/29 | 10 | 11 | |
Commonwealth of Massachusetts GO | 5.000% | 10/1/29 | 95 | 107 | |
Commonwealth of Massachusetts GO | 5.000% | 11/1/29 | 10 | 11 | |
Commonwealth of Massachusetts GO | 5.000% | 1/1/30 | 115 | 125 | |
Commonwealth of Massachusetts GO | 5.000% | 1/1/30 | 25 | 28 | |
Commonwealth of Massachusetts GO | 5.000% | 5/1/30 | 970 | 971 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Commonwealth of Massachusetts GO | 5.000% | 5/1/30 | 100 | 114 | |
Commonwealth of Massachusetts GO | 5.000% | 7/1/30 | 25 | 28 | |
1 | Commonwealth of Massachusetts GO | 5.500% | 8/1/30 | 500 | 580 |
Commonwealth of Massachusetts GO | 5.000% | 9/1/30 | 130 | 149 | |
Commonwealth of Massachusetts GO | 5.000% | 9/1/30 | 40 | 45 | |
Commonwealth of Massachusetts GO | 5.000% | 11/1/30 | 155 | 178 | |
Commonwealth of Massachusetts GO VRDO | 5.000% | 9/1/29 | 5 | 6 | |
5 | Commonwealth of Massachusetts Special Obligation Revenue | 5.500% | 1/1/25 | 100 | 102 |
5 | Commonwealth of Massachusetts Special Obligation Revenue | 5.500% | 1/1/27 | 225 | 243 |
5 | Commonwealth of Massachusetts Special Obligation Revenue | 5.500% | 1/1/30 | 65 | 74 |
Massachusetts Bay Transportation Authority Assessment Special Assessment Revenue | 4.000% | 7/1/26 | 215 | 222 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.000% | 7/1/25 | 140 | 144 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.000% | 7/1/26 | 115 | 121 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.000% | 7/1/27 | 95 | 103 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.000% | 7/1/28 | 5 | 5 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.000% | 7/1/29 | 80 | 90 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.250% | 7/1/29 | 5 | 6 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5.250% | 7/1/30 | 70 | 81 | |
Massachusetts Bay Transportation Authority Sales Tax Revenue, Prere. | 5.000% | 7/1/25 | 200 | 206 | |
Massachusetts Development Finance Agency College & University Revenue | 5.000% | 7/15/24 | 300 | 304 | |
Massachusetts Development Finance Agency College & University Revenue | 5.000% | 7/15/27 | 55 | 58 | |
Massachusetts Development Finance Agency College & University Revenue | 5.000% | 10/15/27 | 150 | 163 | |
Massachusetts Development Finance Agency College & University Revenue | 4.000% | 7/15/29 | 75 | 77 | |
Massachusetts Development Finance Agency College & University Revenue | 5.000% | 7/15/30 | 75 | 79 | |
Massachusetts School Building Authority Sales Tax Revenue | 5.000% | 8/15/24 | 125 | 127 | |
Massachusetts School Building Authority Sales Tax Revenue | 5.000% | 8/15/26 | 65 | 67 | |
Massachusetts School Building Authority Sales Tax Revenue, Prere. | 5.000% | 11/15/25 | 25 | 26 | |
Massachusetts Transportation Trust Fund Metropolitan Highway System Highway Revenue | 5.000% | 1/1/27 | 15 | 16 | |
Massachusetts Transportation Trust Fund Metropolitan Highway System Highway Revenue | 5.000% | 1/1/27 | 80 | 85 | |
Massachusetts Transportation Trust Fund Metropolitan Highway System Highway Revenue | 5.000% | 1/1/30 | 50 | 55 | |
2 | Massachusetts Water Resources Authority Water Revenue | 5.250% | 8/1/25 | 85 | 88 |
Massachusetts Water Resources Authority Water Revenue | 5.000% | 8/1/26 | 250 | 265 | |
2 | Massachusetts Water Resources Authority Water Revenue | 5.250% | 8/1/26 | 275 | 293 |
2 | Massachusetts Water Resources Authority Water Revenue | 5.250% | 8/1/27 | 20 | 22 |
2 | Massachusetts Water Resources Authority Water Revenue | 5.250% | 8/1/28 | 25 | 28 |
Massachusetts Water Resources Authority Water Revenue | 5.000% | 8/1/29 | 50 | 53 | |
Massachusetts Water Resources Authority Water Revenue, Prere. | 5.000% | 8/1/26 | 5 | 5 | |
Massachusetts Water Resources Authority Water Revenue, Prere. | 5.000% | 8/1/26 | 380 | 402 | |
Massachusetts Water Resources Authority Water Revenue, Prere. | 5.000% | 8/1/26 | 50 | 53 | |
University of Massachusetts Building Authority College & University Revenue | 5.000% | 11/1/24 | 40 | 41 | |
University of Massachusetts Building Authority College & University Revenue, Prere. | 5.000% | 11/1/24 | 25 | 25 | |
12,141 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Michigan (0.9%) | |||||
2,8 | Detroit City School District GO | 6.000% | 5/1/29 | 310 | 341 |
2,8 | Detroit City School District GO | 5.250% | 5/1/30 | 150 | 169 |
Great Lakes Water Authority Sewage Disposal System Water Revenue | 5.000% | 7/1/30 | 40 | 41 | |
Michigan Appropriations Revenue GAN | 5.000% | 3/15/24 | 115 | 116 | |
Michigan Appropriations Revenue GAN | 5.000% | 3/15/25 | 280 | 287 | |
Michigan Appropriations Revenue GAN | 5.000% | 3/15/26 | 330 | 345 | |
Michigan Appropriations Revenue GAN | 5.000% | 3/15/27 | 490 | 524 | |
Michigan Finance Authority Water Revenue | 5.000% | 10/1/27 | 70 | 74 | |
Michigan Finance Authority Water Revenue | 5.000% | 10/1/28 | 165 | 175 | |
Michigan Finance Authority Water Revenue | 5.000% | 10/1/29 | 275 | 291 | |
Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) | 5.000% | 4/15/27 | 110 | 114 | |
Michigan State Building Authority Lease (Appropriation) Revenue (Facilities Program) | 5.000% | 10/15/28 | 100 | 110 | |
Michigan Trunk Line Fuel Sales Tax Revenue | 5.000% | 11/15/28 | 25 | 28 | |
Michigan Trunk Line Fuel Sales Tax Revenue | 5.000% | 11/15/29 | 50 | 57 | |
Michigan Trunk Line Fuel Sales Tax Revenue (Rebuilding Michigan Program) | 5.000% | 11/15/29 | 175 | 198 | |
Michigan Trunk Line Fuel Sales Tax Revenue (Rebuilding Michigan Program) | 5.000% | 11/15/30 | 250 | 287 | |
University of Michigan College & University Revenue | 5.000% | 4/1/26 | 70 | 73 | |
University of Michigan College & University Revenue, Prere. | 5.000% | 4/1/26 | 280 | 293 | |
University of Michigan College & University Revenue, Prere. | 5.000% | 4/1/26 | 175 | 183 | |
University of Michigan College & University Revenue, Prere. | 5.000% | 4/1/27 | 15 | 16 | |
3,722 | |||||
Minnesota (1.1%) | |||||
Metropolitan Council GAN GO | 5.000% | 12/1/25 | 55 | 57 | |
Metropolitan Council GAN GO | 5.000% | 12/1/26 | 240 | 256 | |
Metropolitan Council GAN GO | 5.000% | 12/1/27 | 100 | 109 | |
Metropolitan Council GAN GO | 5.000% | 12/1/29 | 170 | 192 | |
Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue | 5.000% | 1/1/25 | 100 | 102 | |
Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue | 5.000% | 1/1/26 | 310 | 323 | |
Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue | 5.000% | 1/1/29 | 40 | 43 | |
Minneapolis-St. Paul Metropolitan Airports Commission Port, Airport & Marina Revenue | 5.000% | 1/1/30 | 200 | 213 | |
Minnesota Appropriations Revenue | 5.000% | 3/1/27 | 5 | 5 | |
Minnesota GO | 5.000% | 10/1/24 | 1,000 | 1,016 | |
Minnesota GO | 5.000% | 8/1/25 | 75 | 77 | |
Minnesota GO | 5.000% | 8/1/25 | 150 | 155 | |
Minnesota GO | 5.000% | 8/1/26 | 275 | 291 | |
Minnesota GO | 5.000% | 9/1/26 | 120 | 127 | |
Minnesota GO | 5.000% | 10/1/26 | 55 | 58 | |
Minnesota GO | 5.000% | 8/1/27 | 120 | 124 | |
Minnesota GO | 5.000% | 10/1/27 | 270 | 293 | |
Minnesota GO | 5.000% | 9/1/28 | 65 | 72 | |
Minnesota GO | 5.000% | 8/1/30 | 150 | 171 | |
Minnesota GO | 5.000% | 9/1/30 | 25 | 29 | |
Minnesota State General Fund Appropriations Revenue | 5.000% | 3/1/28 | 60 | 65 | |
Western Minnesota Municipal Power Agency Electric Power & Light Revenue, Prere. | 5.000% | 1/1/24 | 500 | 500 | |
4,278 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Mississippi (0.2%) | |||||
Mississippi GO | 5.000% | 10/1/26 | 5 | 5 | |
Mississippi GO | 5.000% | 10/1/27 | 350 | 379 | |
Mississippi GO | 5.000% | 10/1/28 | 85 | 92 | |
Mississippi GO | 5.000% | 10/1/29 | 55 | 59 | |
Mississippi GO, Prere. | 5.000% | 10/1/27 | 90 | 97 | |
Mississippi GO, Prere. | 5.000% | 10/1/27 | 20 | 22 | |
Mississippi GO, Prere. | 5.000% | 10/1/27 | 25 | 27 | |
2 | West Rankin Utility Authority Sewer Revenue, Prere. | 5.000% | 1/1/28 | 60 | 65 |
746 | |||||
Missouri (0.4%) | |||||
Liberty Public School District No. 53 GO | 5.000% | 3/1/24 | 100 | 100 | |
Metropolitan St. Louis Sewer District Sewer Revenue | 5.000% | 5/1/29 | 350 | 375 | |
Missouri Highway & Transportation Commission Fuel Sales Tax Revenue | 5.000% | 5/1/29 | 455 | 506 | |
Missouri Highway & Transportation Commission Fuel Sales Tax Revenue | 5.000% | 5/1/30 | 85 | 96 | |
Missouri Highway & Transportation Commission Sales Tax Revenue | 5.000% | 5/1/25 | 40 | 40 | |
Missouri Highway & Transportation Commission Sales Tax Revenue | 5.000% | 5/1/26 | 170 | 179 | |
Missouri State Board of Public Buildings Special Obligation Revenue | 4.000% | 10/1/28 | 70 | 74 | |
Springfield MO Public Utility Multiple Utility Revenue | 3.375% | 8/1/30 | 110 | 108 | |
5 | St. Louis MO Airport Port, Airport & Marina Revenue | 5.500% | 7/1/28 | 100 | 111 |
University of Missouri of Curators College & University Revenue | 5.000% | 11/1/30 | 95 | 109 | |
1,698 | |||||
Nebraska (0.1%) | |||||
Nebraska Public Power District Electric Power & Light Revenue | 5.000% | 1/1/24 | 115 | 115 | |
Nebraska Public Power District Electric Power & Light Revenue | 5.000% | 7/1/28 | 250 | 271 | |
Omaha Public Power District Electric Power & Light Revenue | 5.000% | 2/1/30 | 120 | 133 | |
519 | |||||
Nevada (0.9%) | |||||
Clark County Department of Aviation Port, Airport & Marina Revenue | 5.000% | 7/1/24 | 500 | 505 | |
Clark County Department of Aviation Port, Airport & Marina Revenue | 5.000% | 7/1/25 | 35 | 36 | |
Clark County NV GO | 5.000% | 11/1/26 | 215 | 228 | |
Clark County NV GO | 5.000% | 11/1/27 | 20 | 21 | |
Clark County NV GO | 5.000% | 11/1/28 | 100 | 106 | |
Clark County NV Passenger Facility Charge Port, Airport & Marina Revenue | 5.000% | 7/1/26 | 75 | 79 | |
Clark County School District GO | 5.000% | 6/15/24 | 100 | 101 | |
Clark County School District GO | 5.000% | 6/15/25 | 65 | 67 | |
Clark County School District GO | 5.000% | 6/15/25 | 330 | 339 | |
Clark County School District GO | 5.000% | 6/15/26 | 245 | 254 | |
Clark County School District GO | 5.000% | 6/15/26 | 230 | 241 | |
Las Vegas Valley Water District GO | 5.000% | 12/1/25 | 95 | 98 | |
Nevada GO | 5.000% | 4/1/24 | 60 | 60 | |
Nevada GO | 5.000% | 5/1/25 | 90 | 93 | |
Nevada GO | 5.000% | 4/1/26 | 40 | 41 | |
Nevada GO | 5.000% | 11/1/26 | 205 | 210 | |
Nevada Highway Improvement Fuel Sales Tax Revenue | 5.000% | 12/1/24 | 200 | 204 | |
Nevada Highway Improvement Fuel Sales Tax Revenue | 5.000% | 12/1/25 | 80 | 83 | |
Nevada Highway Improvement Fuel Sales Tax Revenue | 5.000% | 12/1/26 | 200 | 210 | |
Nevada Highway Improvement Fuel Sales Tax Revenue | 5.000% | 12/1/27 | 240 | 252 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Nevada Highway Improvement Fuel Sales Tax Revenue | 5.000% | 12/1/28 | 200 | 210 | |
3,438 | |||||
New Jersey (5.3%) | |||||
2 | Garden State Preservation Trust Appropriations Revenue | 5.750% | 11/1/28 | 350 | 374 |
2 | Garden State Preservation Trust Recreational Revenue | 0.000% | 11/1/27 | 150 | 132 |
New Jersey Economic Development Authority Appropriations Revenue | 4.000% | 6/15/24 | 60 | 60 | |
New Jersey Economic Development Authority Appropriations Revenue | 5.000% | 6/15/25 | 175 | 179 | |
New Jersey Economic Development Authority Appropriations Revenue | 4.250% | 6/15/26 | 165 | 167 | |
New Jersey Economic Development Authority Appropriations Revenue | 5.000% | 6/15/26 | 750 | 756 | |
New Jersey Economic Development Authority Appropriations Revenue | 4.375% | 6/15/27 | 50 | 51 | |
New Jersey Economic Development Authority Appropriations Revenue | 5.250% | 6/15/27 | 400 | 412 | |
7 | New Jersey Economic Development Authority Appropriations Revenue | 5.000% | 7/1/27 | 75 | 80 |
5 | New Jersey Economic Development Authority Appropriations Revenue | 5.500% | 9/1/27 | 65 | 71 |
New Jersey Economic Development Authority Appropriations Revenue | 5.250% | 6/15/28 | 145 | 149 | |
7 | New Jersey Economic Development Authority Appropriations Revenue | 5.000% | 7/1/28 | 500 | 531 |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 4.000% | 6/15/24 | 100 | 100 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.000% | 6/15/25 | 10 | 10 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.000% | 6/15/25 | 100 | 103 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.000% | 6/15/25 | 20 | 21 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | 6/15/25 | 1,000 | 1,034 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | 6/15/25 | 140 | 145 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | 6/15/25 | 120 | 124 | |
New Jersey Economic Development Authority Appropriations Revenue, Prere. | 4.750% | 12/15/26 | 130 | 137 | |
New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.000% | 3/1/24 | 150 | 151 | |
New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.000% | 3/1/25 | 325 | 332 | |
New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.000% | 3/1/26 | 150 | 156 | |
4 | New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.000% | 6/15/26 | 100 | 103 |
New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.000% | 3/1/28 | 690 | 745 | |
New Jersey Economic Development Authority Lease (Appropriation) Revenue | 5.000% | 11/1/26 | 255 | 269 | |
New Jersey Economic Development Authority Lease (Appropriation) Revenue | 4.000% | 11/1/27 | 160 | 165 | |
New Jersey Economic Development Authority Lease (Appropriation) Revenue, Prere. | 4.000% | 6/15/27 | 630 | 657 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New Jersey Economic Development Authority Lease (Appropriation) Revenue, Prere. | 5.000% | 6/15/27 | 25 | 27 | |
New Jersey Economic Development Authority Miscellaneous Revenue | 3.000% | 3/1/24 | 155 | 155 | |
New Jersey Educational Facilities Authority College & University Revenue | 5.000% | 3/1/27 | 145 | 156 | |
New Jersey Educational Facilities Authority College & University Revenue | 5.000% | 7/1/28 | 15 | 16 | |
New Jersey GO | 5.000% | 6/1/24 | 950 | 959 | |
New Jersey GO | 5.000% | 6/1/25 | 710 | 731 | |
New Jersey GO | 5.000% | 6/1/26 | 545 | 571 | |
New Jersey GO | 5.000% | 6/1/27 | 145 | 155 | |
New Jersey GO | 5.000% | 6/1/28 | 640 | 698 | |
New Jersey GO | 5.000% | 6/1/29 | 220 | 244 | |
New Jersey GO | 4.000% | 6/1/30 | 550 | 582 | |
New Jersey GO, Prere. | 5.000% | 6/1/25 | 100 | 103 | |
New Jersey GO, Prere. | 5.000% | 6/1/25 | 150 | 154 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/23 | 180 | 180 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.250% | 12/15/23 | 395 | 395 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.250% | 12/15/23 | 175 | 175 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.500% | 12/15/23 | 100 | 100 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/24 | 250 | 252 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/24 | 135 | 137 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/25 | 250 | 257 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/25 | 335 | 312 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/25 | 200 | 207 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/25 | 230 | 238 | |
1 | New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/26 | 110 | 99 |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/26 | 100 | 90 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/26 | 50 | 53 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/26 | 150 | 159 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/27 | 905 | 944 | |
5 | New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/27 | 270 | 235 |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 12/15/27 | 55 | 59 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/28 | 75 | 78 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/28 | 455 | 494 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/28 | 100 | 109 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
1 | New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/28 | 205 | 173 |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/28 | 55 | 46 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/28 | 120 | 101 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/29 | 25 | 26 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/29 | 110 | 121 | |
2 | New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/29 | 190 | 155 |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/29 | 505 | 409 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/30 | 380 | 396 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/30 | 100 | 104 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/30 | 75 | 84 | |
New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | 6/15/30 | 330 | 369 | |
5 | New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | 12/15/30 | 85 | 66 |
5 | New Jersey Transportation Trust Fund Authority Miscellaneous Revenue | 5.750% | 6/15/25 | 160 | 166 |
1 | New Jersey Turnpike Authority Highway Revenue | 5.500% | 1/1/25 | 310 | 318 |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/27 | 290 | 292 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/27 | 25 | 27 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/27 | 60 | 64 | |
2 | New Jersey Turnpike Authority Highway Revenue | 5.250% | 1/1/27 | 110 | 118 |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/28 | 110 | 119 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/29 | 215 | 216 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/29 | 215 | 232 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/29 | 60 | 65 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/29 | 200 | 221 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/30 | 60 | 65 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/30 | 70 | 75 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/30 | 200 | 223 | |
New Jersey Turnpike Authority Highway Revenue | 5.000% | 1/1/31 | 100 | 113 | |
20,702 | |||||
New Mexico (0.5%) | |||||
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/24 | 95 | 96 | |
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/26 | 160 | 168 | |
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/26 | 30 | 32 | |
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/27 | 180 | 193 | |
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/28 | 50 | 55 | |
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/28 | 220 | 241 | |
New Mexico Finance Authority Fuel Sales Tax Revenue | 5.000% | 6/15/29 | 240 | 262 | |
New Mexico Severance Tax Permanent Fund Severance Tax Revenue | 5.000% | 7/1/26 | 210 | 221 | |
New Mexico Severance Tax Permanent Fund Severance Tax Revenue | 5.000% | 7/1/27 | 285 | 307 | |
New Mexico Severance Tax Permanent Fund Severance Tax Revenue | 5.000% | 7/1/28 | 70 | 77 | |
New Mexico Severance Tax Permanent Fund Severance Tax Revenue | 5.000% | 7/1/29 | 205 | 229 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New Mexico Severance Tax Permanent Fund Severance Tax Revenue | 5.000% | 7/1/30 | 10 | 11 | |
New Mexico Severance Tax Permanent Fund Severance Tax Revenue | 5.000% | 7/1/30 | 170 | 193 | |
2,085 | |||||
New York (18.0%) | |||||
Battery Park City Authority Miscellaneous Revenue | 5.000% | 11/1/24 | 100 | 102 | |
Battery Park City Authority Miscellaneous Revenue | 5.000% | 11/1/25 | 100 | 104 | |
Battery Park City Authority Miscellaneous Revenue | 5.000% | 11/1/26 | 100 | 107 | |
Battery Park City Authority Miscellaneous Revenue | 5.000% | 11/1/28 | 100 | 111 | |
Battery Park City Authority Miscellaneous Revenue | 5.000% | 11/1/30 | 200 | 230 | |
Hudson Yards Infrastructure Corp. Miscellaneous Revenue | 5.000% | 2/15/30 | 5 | 5 | |
2 | Long Island Power Authority Electric Power & Light Revenue | 0.000% | 6/1/25 | 60 | 57 |
2 | Long Island Power Authority Electric Power & Light Revenue | 0.000% | 6/1/29 | 175 | 145 |
Long Island Power Authority Electric Power & Light Revenue PUT | 1.650% | 9/1/24 | 50 | 49 | |
Long Island Power Authority Electric Power & Light Revenue PUT | 1.500% | 9/1/26 | 340 | 318 | |
Metropolitan Transportation Authority Fuel Sales Tax Revenue | 5.250% | 11/15/27 | 215 | 228 | |
Metropolitan Transportation Authority Fuel Sales Tax Revenue | 5.250% | 11/15/28 | 220 | 233 | |
Metropolitan Transportation Authority Fuel Sales Tax Revenue | 5.250% | 11/15/29 | 100 | 106 | |
Metropolitan Transportation Authority Miscellaneous Taxes Revenue | 3.000% | 11/15/28 | 135 | 134 | |
Metropolitan Transportation Authority Miscellaneous Taxes Revenue | 0.000% | 11/15/30 | 115 | 88 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/24 | 315 | 320 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/25 | 110 | 114 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/25 | 140 | 145 | |
Metropolitan Transportation Authority Transit Revenue | 4.000% | 11/15/26 | 350 | 358 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/26 | 85 | 89 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/26 | 420 | 442 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/26 | 405 | 426 | |
Metropolitan Transportation Authority Transit Revenue | 0.000% | 11/15/27 | 170 | 146 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/27 | 100 | 107 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/27 | 75 | 79 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/27 | 150 | 156 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/27 | 220 | 235 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/28 | 555 | 596 | |
Metropolitan Transportation Authority Transit Revenue | 0.000% | 11/15/29 | 415 | 326 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/29 | 670 | 719 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/38 | 75 | 75 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/38 | 920 | 921 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/38 | 205 | 205 | |
Metropolitan Transportation Authority Transit Revenue | 4.750% | 11/15/39 | 65 | 65 | |
Metropolitan Transportation Authority Transit Revenue | 5.250% | 11/15/39 | 535 | 536 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/42 | 65 | 65 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/43 | 100 | 100 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/43 | 875 | 876 | |
Metropolitan Transportation Authority Transit Revenue | 5.000% | 11/15/43 | 140 | 140 | |
Nassau County NY GO | 5.000% | 10/1/27 | 5 | 5 | |
New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue | 5.000% | 2/15/27 | 40 | 43 | |
2 | New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT | 5.000% | 3/1/29 | 55 | 60 |
New York City Municipal Water Finance Authority Water Revenue | 4.000% | 6/15/24 | 125 | 126 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/25 | 150 | 150 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/25 | 375 | 387 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/25 | 130 | 134 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/26 | 410 | 417 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/27 | 100 | 104 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/27 | 165 | 172 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/27 | 45 | 46 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/27 | 100 | 104 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/27 | 320 | 345 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/27 | 45 | 47 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/28 | 20 | 21 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/28 | 115 | 116 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/28 | 275 | 293 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/28 | 120 | 132 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/28 | 115 | 122 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/29 | 315 | 354 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/29 | 210 | 227 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/29 | 65 | 67 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/30 | 225 | 257 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/30 | 40 | 42 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/30 | 100 | 110 | |
New York City Municipal Water Finance Authority Water Revenue | 5.000% | 6/15/30 | 10 | 11 | |
New York City Municipal Water Finance Authority Water Revenue VRDO | 5.000% | 6/15/29 | 90 | 101 | |
New York City Municipal Water Finance Authority Water Revenue, Prere. | 5.000% | 6/15/25 | 70 | 72 | |
New York City Municipal Water Finance Authority Water Revenue, Prere. | 5.000% | 6/15/25 | 165 | 170 | |
New York City Municipal Water Finance Authority Water Revenue, Prere. | 5.000% | 6/15/25 | 20 | 21 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/24 | 50 | 51 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/25 | 55 | 57 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/27 | 115 | 124 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/27 | 100 | 108 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/28 | 110 | 117 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/28 | 300 | 330 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/29 | 100 | 106 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/30 | 300 | 309 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/30 | 400 | 454 | |
New York City Transitional Finance Authority Building Aid Appropriations Revenue | 5.000% | 7/15/30 | 125 | 142 | |
New York City Transitional Finance Authority Building Aid Income Tax Revenue | 5.000% | 7/15/27 | 245 | 264 | |
New York City Transitional Finance Authority Building Aid Income Tax Revenue | 5.000% | 7/15/30 | 65 | 67 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/24 | 95 | 96 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/24 | 450 | 458 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/24 | 505 | 514 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/24 | 105 | 107 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/24 | 50 | 51 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/25 | 255 | 263 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/25 | 50 | 52 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/25 | 10 | 10 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/25 | 105 | 109 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/25 | 160 | 166 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/25 | 75 | 78 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/25 | 100 | 104 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/26 | 25 | 26 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/26 | 100 | 106 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/26 | 370 | 393 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/26 | 90 | 96 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/26 | 170 | 181 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/27 | 5 | 5 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/27 | 560 | 609 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/27 | 235 | 255 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/27 | 55 | 60 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/28 | 120 | 132 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/28 | 145 | 161 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/28 | 100 | 111 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 2/1/29 | 165 | 171 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 2/1/29 | 140 | 145 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 5/1/29 | 115 | 120 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/29 | 65 | 68 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/29 | 105 | 118 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/29 | 45 | 51 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/29 | 270 | 304 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/29 | 285 | 321 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 2/1/30 | 255 | 269 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 4.000% | 5/1/30 | 230 | 235 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 5/1/30 | 115 | 122 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 8/1/30 | 70 | 73 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 3.000% | 11/1/30 | 85 | 82 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/30 | 500 | 530 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/30 | 110 | 126 | |
New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue | 5.000% | 11/1/30 | 125 | 143 | |
New York City Transitional Finance Authority Income Tax Revenue | 5.000% | 11/1/24 | 1,000 | 1,017 | |
New York GO | 5.000% | 3/15/30 | 100 | 114 | |
New York NY GO | 5.000% | 8/1/24 | 145 | 147 | |
New York NY GO | 5.000% | 8/1/24 | 295 | 299 | |
New York NY GO | 5.000% | 8/1/24 | 675 | 684 | |
New York NY GO | 5.000% | 8/1/24 | 500 | 506 | |
New York NY GO | 5.000% | 8/1/24 | 250 | 253 | |
New York NY GO | 5.000% | 8/1/25 | 165 | 171 | |
New York NY GO | 5.000% | 8/1/25 | 200 | 205 | |
New York NY GO | 5.000% | 8/1/25 | 170 | 176 | |
New York NY GO | 5.000% | 8/1/25 | 40 | 41 | |
New York NY GO | 5.000% | 8/1/25 | 205 | 212 | |
New York NY GO | 5.000% | 8/1/25 | 315 | 326 | |
New York NY GO | 5.000% | 8/1/25 | 60 | 62 | |
New York NY GO | 5.000% | 8/1/25 | 20 | 21 | |
New York NY GO | 5.000% | 8/1/25 | 625 | 646 | |
New York NY GO | 5.000% | 8/1/25 | 100 | 103 | |
New York NY GO | 5.000% | 8/1/25 | 30 | 31 | |
New York NY GO | 5.000% | 8/1/26 | 10 | 10 | |
New York NY GO | 5.000% | 8/1/26 | 110 | 116 | |
New York NY GO | 5.000% | 8/1/26 | 445 | 470 | |
New York NY GO | 5.000% | 8/1/26 | 160 | 169 | |
New York NY GO | 5.000% | 8/1/26 | 100 | 106 | |
New York NY GO | 5.000% | 8/1/26 | 40 | 42 | |
New York NY GO | 5.000% | 8/1/26 | 95 | 100 | |
New York NY GO | 5.000% | 8/1/26 | 200 | 211 | |
New York NY GO | 5.000% | 8/1/26 | 85 | 90 | |
New York NY GO | 5.000% | 8/1/26 | 105 | 111 | |
New York NY GO | 5.000% | 8/1/26 | 100 | 106 | |
New York NY GO | 5.000% | 8/1/26 | 100 | 106 | |
New York NY GO | 5.000% | 3/1/27 | 85 | 85 | |
New York NY GO | 5.000% | 3/1/27 | 45 | 48 | |
New York NY GO | 5.000% | 8/1/27 | 20 | 21 | |
New York NY GO | 5.000% | 8/1/27 | 140 | 148 | |
New York NY GO | 5.000% | 8/1/27 | 300 | 324 | |
New York NY GO | 5.000% | 8/1/27 | 25 | 27 | |
New York NY GO | 5.000% | 8/1/27 | 160 | 173 | |
New York NY GO | 5.000% | 8/1/27 | 295 | 318 | |
New York NY GO | 5.000% | 8/1/27 | 635 | 685 | |
New York NY GO | 5.000% | 8/1/28 | 150 | 155 | |
New York NY GO | 5.000% | 8/1/28 | 50 | 53 | |
New York NY GO | 5.000% | 8/1/28 | 395 | 420 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York NY GO | 5.000% | 8/1/28 | 155 | 167 | |
New York NY GO | 5.000% | 8/1/28 | 215 | 233 | |
New York NY GO | 5.000% | 8/1/28 | 180 | 198 | |
New York NY GO | 5.000% | 8/1/28 | 320 | 333 | |
New York NY GO | 5.000% | 8/1/28 | 120 | 132 | |
New York NY GO | 5.000% | 8/1/28 | 100 | 110 | |
New York NY GO | 5.000% | 8/1/29 | 155 | 162 | |
New York NY GO | 5.000% | 8/1/29 | 125 | 134 | |
New York NY GO | 5.000% | 8/1/29 | 160 | 173 | |
New York NY GO | 5.000% | 8/1/29 | 200 | 224 | |
New York NY GO | 5.000% | 8/1/29 | 135 | 151 | |
New York NY GO | 5.000% | 8/1/29 | 160 | 179 | |
New York NY GO | 5.000% | 8/1/29 | 35 | 39 | |
New York NY GO | 5.000% | 8/1/29 | 200 | 224 | |
New York NY GO | 5.000% | 8/1/29 | 145 | 162 | |
New York NY GO | 5.000% | 10/1/29 | 5 | 6 | |
New York NY GO | 5.000% | 12/1/29 | 250 | 264 | |
New York NY GO | 5.000% | 4/1/30 | 100 | 113 | |
New York NY GO | 5.000% | 8/1/30 | 5 | 5 | |
New York NY GO | 5.000% | 8/1/30 | 115 | 120 | |
New York NY GO | 5.000% | 8/1/30 | 285 | 324 | |
New York NY GO | 5.000% | 8/1/30 | 315 | 358 | |
New York NY GO | 5.000% | 8/1/30 | 100 | 114 | |
New York NY GO | 5.000% | 8/1/30 | 10 | 11 | |
New York NY GO | 5.000% | 8/1/30 | 90 | 102 | |
New York NY GO | 5.000% | 10/1/30 | 20 | 22 | |
New York NY GO | 5.250% | 10/1/30 | 35 | 38 | |
2 | New York Power Authority Electric Power & Light Revenue | 5.000% | 11/15/27 | 100 | 108 |
2 | New York Power Authority Electric Power & Light Revenue | 5.000% | 11/15/28 | 100 | 110 |
New York State Dormitory Authority College & University Revenue | 5.000% | 7/1/26 | 100 | 105 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/26 | 50 | 52 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/26 | 5 | 5 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/28 | 185 | 203 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/28 | 100 | 109 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/28 | 615 | 673 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 2/15/29 | 175 | 187 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 2/15/29 | 600 | 601 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 2/15/29 | 100 | 102 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/29 | 170 | 173 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/29 | 500 | 558 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/29 | 350 | 390 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/29 | 100 | 112 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 2/15/30 | 240 | 254 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 2/15/30 | 460 | 491 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/30 | 175 | 178 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/30 | 255 | 288 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/30 | 5 | 6 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/30 | 100 | 113 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/30 | 105 | 116 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 9/15/30 | 215 | 235 | |
New York State Dormitory Authority Income Tax Revenue | 5.000% | 3/15/26 | 100 | 105 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/24 | 150 | 151 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/24 | 360 | 362 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/24 | 105 | 106 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/24 | 80 | 80 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/25 | 285 | 292 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/25 | 330 | 338 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/25 | 160 | 164 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/25 | 250 | 256 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/25 | 50 | 51 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/25 | 300 | 308 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/26 | 75 | 78 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/26 | 100 | 104 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/26 | 80 | 84 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/26 | 90 | 94 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/27 | 165 | 176 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 2/15/27 | 105 | 112 | |
New York State Dormitory Authority Income Tax Revenue, ETM | 5.000% | 3/15/27 | 5 | 5 | |
New York State Dormitory Authority Income Tax Revenue, ETM. | 5.000% | 3/15/28 | 15 | 16 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 5.000% | 2/15/25 | 100 | 102 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 5.000% | 3/15/25 | 500 | 513 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 4.000% | 9/15/25 | 500 | 510 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 5.000% | 8/15/26 | 300 | 317 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 5.000% | 8/15/26 | 130 | 137 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 5.000% | 2/15/27 | 245 | 262 | |
New York State Dormitory Authority Income Tax Revenue, Prere. | 5.000% | 8/15/27 | 140 | 151 | |
New York State Dormitory Authority Intergovernmental Agreement Revenue | 5.000% | 10/1/24 | 160 | 162 | |
New York State Dormitory Authority Intergovernmental Agreement Revenue | 5.000% | 10/1/25 | 145 | 150 | |
New York State Dormitory Authority Intergovernmental Agreement Revenue | 5.000% | 10/1/29 | 200 | 213 | |
New York State Dormitory Authority Intergovernmental Agreement Revenue | 5.000% | 10/1/30 | 200 | 213 | |
New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Bond Financing Program) | 5.000% | 10/1/24 | 100 | 101 | |
2 | New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Revenue Bond Financing Program) | 5.000% | 10/1/24 | 100 | 102 |
New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Revenue Bond Financing Program) | 5.000% | 10/1/28 | 160 | 169 | |
2 | New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Revenue Bond Financing Program) | 5.000% | 10/1/28 | 100 | 110 |
2 | New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Revenue Bond Financing Program) | 5.000% | 10/1/29 | 200 | 223 |
New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Revenue Bond Financing Program) | 5.000% | 10/1/30 | 70 | 74 | |
2 | New York State Dormitory Authority Intergovernmental Agreement Revenue (School District Revenue Bond Financing Program) | 5.000% | 10/1/30 | 100 | 113 |
2 | New York State Dormitory Authority Intergovernmental Agreement Revenue (Unrefunded School Districts Finance Program) | 5.000% | 10/1/30 | 45 | 49 |
New York State Dormitory Authority Lease (Appropriation) Revenue | 5.000% | 1/15/26 | 100 | 104 | |
New York State Dormitory Authority Lease (Appropriation) Revenue | 5.000% | 1/15/27 | 55 | 59 | |
New York State Dormitory Authority Lease (Appropriation) Revenue | 5.000% | 3/15/29 | 165 | 184 | |
New York State Dormitory Authority Lease (Appropriation) Revenue | 5.000% | 3/15/30 | 590 | 667 | |
New York State Dormitory Authority Lease (Appropriation) Revenue | 5.000% | 3/15/30 | 525 | 591 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/29 | 95 | 98 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/29 | 125 | 131 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/29 | 65 | 65 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/29 | 50 | 55 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/30 | 470 | 472 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/30 | 355 | 365 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/30 | 150 | 157 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/30 | 375 | 399 | |
New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/30 | 235 | 254 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/24 | 25 | 25 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/24 | 100 | 101 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/24 | 65 | 65 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/25 | 50 | 51 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/25 | 50 | 51 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/25 | 155 | 159 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/26 | 50 | 52 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/26 | 185 | 194 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/26 | 55 | 58 | |
New York State Dormitory Authority Sales Tax Revenue, ETM | 5.000% | 3/15/27 | 105 | 113 | |
New York State Dormitory Authority Sales Tax Revenue, Prere. | 5.000% | 3/15/24 | 285 | 287 | |
New York State Dormitory Authority Sales Tax Revenue, Prere. | 5.000% | 3/15/25 | 10 | 10 | |
New York State Dormitory Authority Sales Tax Revenue, Prere. | 5.000% | 3/15/25 | 435 | 446 | |
New York State Dormitory Authority Sales Tax Revenue, Prere. | 5.000% | 9/15/25 | 20 | 21 | |
New York State Dormitory Authority Sales Tax Revenue, Prere. | 5.000% | 9/15/26 | 195 | 207 | |
New York State Environmental Facilities Corp. Water Revenue | 5.000% | 6/15/30 | 15 | 17 | |
New York State Thruway Authority Highway Revenue | 5.000% | 1/1/29 | 590 | 647 | |
New York State Thruway Authority Highway Revenue | 5.000% | 1/1/30 | 130 | 132 | |
New York State Thruway Authority Highway Revenue | 5.000% | 1/1/30 | 5 | 6 | |
New York State Thruway Authority Highway Revenue | 5.000% | 1/1/30 | 60 | 65 | |
New York State Thruway Authority Income Tax Revenue | 5.000% | 3/15/29 | 75 | 83 | |
New York State Thruway Authority Income Tax Revenue | 5.000% | 3/15/30 | 165 | 187 | |
New York State Thruway Authority Lease (Appropriation) Revenue | 5.000% | 3/15/25 | 110 | 113 | |
New York State Thruway Authority Lease (Appropriation) Revenue | 5.000% | 3/15/26 | 105 | 110 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/24 | 390 | 392 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/24 | 220 | 221 | |
5 | New York State Urban Development Corp. Income Tax Revenue | 5.500% | 3/15/24 | 50 | 50 |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/25 | 225 | 231 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/26 | 200 | 210 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/26 | 105 | 110 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/26 | 225 | 236 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/26 | 205 | 215 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 9/15/27 | 205 | 222 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/28 | 105 | 108 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/29 | 100 | 100 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/29 | 105 | 105 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/29 | 240 | 267 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/29 | 5 | 5 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 9/15/29 | 50 | 56 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/30 | 100 | 100 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/30 | 20 | 20 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/30 | 100 | 113 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/30 | 205 | 218 | |
New York State Urban Development Corp. Income Tax Revenue | 5.000% | 3/15/30 | 100 | 113 | |
New York State Urban Development Corp. Income Tax Revenue, ETM | 5.000% | 3/15/25 | 485 | 498 | |
New York State Urban Development Corp. Income Tax Revenue, ETM | 5.000% | 3/15/26 | 30 | 31 | |
New York State Urban Development Corp. Income Tax Revenue, ETM | 5.000% | 9/15/27 | 210 | 227 | |
New York State Urban Development Corp. Income Tax Revenue, Prere. | 5.000% | 3/15/24 | 45 | 45 | |
New York State Urban Development Corp. Income Tax Revenue, Prere. | 5.000% | 3/15/24 | 55 | 55 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
New York State Urban Development Corp. Income Tax Revenue, Prere. | 5.000% | 3/15/26 | 460 | 481 | |
New York State Urban Development Corp. Income Tax Revenue, Prere. | 5.000% | 3/15/27 | 25 | 27 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 12/1/25 | 50 | 50 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 12/1/25 | 100 | 104 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 5/1/26 | 70 | 72 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 10/15/26 | 65 | 67 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 12/1/26 | 180 | 191 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 9/1/27 | 260 | 263 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 10/15/27 | 80 | 83 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.375% | 3/1/28 | 85 | 90 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 10/15/28 | 90 | 93 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 12/1/28 | 100 | 110 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 10/15/29 | 75 | 77 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 5/1/30 | 20 | 20 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 7/15/30 | 150 | 163 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | 12/1/30 | 100 | 113 | |
Port Authority of New York & New Jersey Port, Airport & Marina Revenue, Prere. | 5.000% | 12/1/26 | 165 | 165 | |
Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. | 4.000% | 10/15/24 | 30 | 30 | |
Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. | 5.000% | 10/15/24 | 570 | 579 | |
Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. | 5.000% | 10/15/24 | 250 | 254 | |
Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. | 5.000% | 10/15/24 | 290 | 295 | |
Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. | 5.000% | 10/15/24 | 10 | 10 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/24 | 175 | 178 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/24 | 300 | 306 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/25 | 100 | 104 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/26 | 90 | 96 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/26 | 250 | 266 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/27 | 230 | 250 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/27 | 210 | 224 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/28 | 75 | 83 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/28 | 205 | 227 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/28 | 200 | 222 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/29 | 75 | 80 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/29 | 50 | 56 | |
Triborough Bridge & Tunnel Authority Highway Revenue | 5.000% | 11/15/30 | 5 | 6 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 4.000% | 5/15/26 | 170 | 175 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 5/15/26 | 55 | 58 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 11/15/27 | 535 | 577 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 11/15/27 | 370 | 399 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 11/15/28 | 75 | 83 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 11/15/28 | 440 | 483 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 5/15/29 | 175 | 196 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 11/15/29 | 125 | 141 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 11/15/30 | 400 | 456 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue | 5.000% | 5/15/30 | 240 | 273 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue PUT | 2.000% | 5/15/24 | 475 | 470 | |
Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue PUT | 5.000% | 5/15/26 | 50 | 52 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/26 | 110 | 111 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/26 | 375 | 383 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/27 | 400 | 413 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/27 | 130 | 134 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/27 | 210 | 219 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/27 | 85 | 89 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/28 | 105 | 110 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/28 | 50 | 53 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/29 | 100 | 106 | |
4 | Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/29 | 100 | 107 |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/29 | 345 | 345 | |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/29 | 495 | 531 | |
4 | Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/29 | 100 | 108 |
Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/30 | 150 | 165 | |
4 | Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 6/15/30 | 100 | 110 |
4 | Utility Debt Securitization Authority Electric Power & Light Revenue | 5.000% | 12/15/30 | 100 | 111 |
70,234 | |||||
North Carolina (1.3%) | |||||
North Carolina Appropriations Revenue | 5.000% | 5/1/24 | 120 | 121 | |
North Carolina Appropriations Revenue | 5.000% | 5/1/24 | 100 | 101 | |
North Carolina Appropriations Revenue | 5.000% | 5/1/25 | 125 | 129 | |
North Carolina Appropriations Revenue | 5.000% | 6/1/25 | 95 | 98 | |
North Carolina Appropriations Revenue | 5.000% | 5/1/27 | 430 | 462 | |
North Carolina Appropriations Revenue | 5.000% | 5/1/28 | 195 | 209 | |
North Carolina Appropriations Revenue | 5.000% | 5/1/29 | 250 | 268 | |
North Carolina Appropriations Revenue | 5.000% | 5/1/30 | 195 | 208 | |
North Carolina Appropriations Revenue (Build NC Programs) | 5.000% | 5/1/25 | 175 | 180 | |
North Carolina Appropriations Revenue (Build NC Programs) | 5.000% | 5/1/26 | 5 | 5 | |
North Carolina Appropriations Revenue (Build NC Programs) | 5.000% | 5/1/28 | 115 | 126 | |
North Carolina Appropriations Revenue (Build NC Programs) | 5.000% | 5/1/29 | 115 | 128 | |
North Carolina Capital Facilities Finance Agency College & University Revenue, Prere. | 5.000% | 10/1/25 | 70 | 73 | |
North Carolina Capital Facilities Finance Agency College & University Revenue, Prere. | 5.000% | 10/1/25 | 640 | 664 | |
North Carolina GO | 5.000% | 6/1/25 | 395 | 407 | |
North Carolina GO | 5.000% | 6/1/26 | 120 | 126 | |
North Carolina GO | 5.000% | 6/1/27 | 45 | 48 | |
North Carolina GO | 5.000% | 6/1/28 | 160 | 169 | |
North Carolina GO | 5.000% | 6/1/29 | 35 | 39 | |
North Carolina GO | 5.000% | 6/1/30 | 25 | 28 | |
North Carolina Government Fund/Grant Revenue | 5.000% | 3/1/25 | 50 | 51 | |
North Carolina Government Fund/Grant Revenue | 5.000% | 3/1/25 | 355 | 363 | |
North Carolina Government Fund/Grant Revenue | 5.000% | 3/1/26 | 10 | 10 | |
North Carolina Government Fund/Grant Revenue | 5.000% | 3/1/26 | 100 | 104 | |
North Carolina Government Fund/Grant Revenue | 5.000% | 3/1/27 | 180 | 192 | |
North Carolina Government Fund/Grant Revenue | 5.000% | 3/1/28 | 175 | 179 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
North Carolina Municipal Power Agency No. 1 Electric Power & Light Revenue | 5.000% | 1/1/25 | 140 | 143 | |
North Carolina Municipal Power Agency No. 1 Electric Power & Light Revenue | 5.000% | 1/1/27 | 255 | 264 | |
4,895 | |||||
Ohio (2.1%) | |||||
American Municipal Power Inc. Electric Power & Light Revenue | 5.000% | 2/15/24 | 135 | 135 | |
American Municipal Power Inc. Electric Power & Light Revenue | 5.000% | 2/15/25 | 175 | 179 | |
American Municipal Power Inc. Electric Power & Light Revenue | 5.000% | 2/15/27 | 125 | 125 | |
5 | Cincinnati City School District GO | 5.250% | 12/1/29 | 220 | 248 |
Columbus OH GO | 5.000% | 7/1/25 | 200 | 206 | |
Columbus OH GO | 5.000% | 7/1/26 | 340 | 359 | |
Columbus OH GO | 5.000% | 4/1/29 | 85 | 92 | |
Columbus OH Sewer Revenue, Prere. | 5.000% | 12/1/24 | 295 | 300 | |
Columbus OH Sewerage Sewer Revenue | 5.000% | 6/1/29 | 200 | 210 | |
Columbus OH Sewerage Sewer Revenue | 5.000% | 6/1/30 | 15 | 16 | |
Franklin County Convention Facilities Authority Lease (Appropriation) Revenue, Prere. | 5.000% | 12/1/24 | 265 | 269 | |
Greater Cleveland Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/1/29 | 45 | 50 | |
Greater Cleveland Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/1/29 | 20 | 22 | |
Hamilton County OH Sewer System Sewer Revenue, Prere. | 5.000% | 12/1/23 | 50 | 50 | |
Northeast Ohio Regional Sewer District Sewer Revenue, Prere. | 4.000% | 11/15/24 | 45 | 45 | |
Northeast Ohio Regional Sewer District Sewer Revenue, Prere. | 4.000% | 11/15/24 | 130 | 131 | |
Northeast Ohio Regional Sewer District Sewer Revenue, Prere. | 5.000% | 11/15/24 | 30 | 31 | |
Northeast Ohio Regional Sewer District Sewer Revenue, Prere. | 5.000% | 11/15/24 | 30 | 31 | |
Northeast Ohio Regional Sewer District Sewer Revenue, Prere. | 5.000% | 11/15/24 | 545 | 554 | |
Ohio GO | 5.000% | 12/15/23 | 125 | 125 | |
Ohio GO | 5.000% | 8/1/24 | 245 | 248 | |
Ohio GO | 5.000% | 9/15/24 | 110 | 112 | |
Ohio GO | 5.000% | 12/15/24 | 80 | 82 | |
Ohio GO | 5.000% | 8/1/25 | 140 | 145 | |
Ohio GO | 5.000% | 8/1/25 | 125 | 129 | |
Ohio GO | 5.000% | 9/15/25 | 185 | 192 | |
Ohio GO | 5.000% | 8/1/26 | 50 | 53 | |
Ohio GO | 5.000% | 9/15/26 | 150 | 159 | |
Ohio GO | 5.000% | 8/1/27 | 180 | 194 | |
Ohio GO | 5.000% | 8/1/28 | 215 | 237 | |
Ohio GO | 5.000% | 9/15/29 | 60 | 67 | |
Ohio Government Fund/Grant Revenue | 5.000% | 12/15/23 | 150 | 150 | |
Ohio Government Fund/Grant Revenue | 5.000% | 12/15/24 | 75 | 76 | |
Ohio Government Fund/Grant Revenue | 5.000% | 12/15/27 | 125 | 135 | |
Ohio Government Fund/Grant Revenue | 5.000% | 12/15/28 | 75 | 79 | |
Ohio Government Fund/Grant Revenue | 5.000% | 12/15/29 | 180 | 188 | |
Ohio State University College & University Revenue | 5.000% | 12/1/29 | 260 | 292 | |
Ohio Turnpike & Infrastructure Commission Highway Revenue | 5.000% | 2/15/29 | 50 | 54 | |
Ohio Turnpike & Infrastructure Commission Highway Revenue | 5.000% | 2/15/30 | 10 | 11 | |
Ohio Water Development Authority Lease Revenue | 5.000% | 6/1/28 | 330 | 360 | |
Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 5.000% | 12/1/23 | 115 | 115 | |
Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 5.000% | 6/1/24 | 115 | 116 | |
Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 5.000% | 12/1/24 | 50 | 51 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 5.000% | 6/1/26 | 15 | 16 | |
Ohio Water Development Authority Water Pollution Control Loan Fund Water Revenue | 5.000% | 6/1/27 | 135 | 145 | |
Ohio Water Development Authority Water Revenue | 5.000% | 6/1/28 | 115 | 126 | |
Ohio Water Development Authority Water Revenue | 5.000% | 6/1/29 | 625 | 696 | |
Ohio Water Development Authority Water Revenue | 5.000% | 12/1/29 | 405 | 454 | |
Upper Arlington City School District GO, Prere. | 5.000% | 12/1/27 | 100 | 109 | |
Willoughby-Eastlake City School District GO, Prere. | 5.000% | 12/1/25 | 50 | 52 | |
8,021 | |||||
Oklahoma (0.5%) | |||||
Canadian County Educational Facilities Authority Lease (Appropriation) Revenue (Mustang Public School Project) | 3.000% | 9/1/29 | 170 | 163 | |
Cleveland County Educational Facilities Authority Lease (Appropriation) Revenue (Moore Public Schools Project) | 4.000% | 6/1/27 | 330 | 341 | |
Cleveland County Educational Facilities Authority Lease (Appropriation) Revenue (Norman Public Schools Project) | 5.000% | 6/1/24 | 235 | 237 | |
Grand River Dam Authority Electric Power & Light Revenue | 5.000% | 6/1/24 | 230 | 232 | |
Grand River Dam Authority Electric Power & Light Revenue | 5.000% | 6/1/25 | 160 | 164 | |
Grand River Dam Authority Electric Power & Light Revenue | 5.000% | 6/1/28 | 175 | 185 | |
Grand River Dam Authority Electric Power & Light Revenue | 5.000% | 6/1/30 | 50 | 52 | |
Oklahoma City & County Independent School District No. 89 GO | 3.000% | 7/1/25 | 295 | 293 | |
Oklahoma City & County Independent School District No. 89 GO | 3.000% | 7/1/27 | 15 | 15 | |
Oklahoma Turnpike Authority Highway Revenue | 5.000% | 1/1/25 | 225 | 230 | |
Oklahoma Turnpike Authority Highway Revenue | 5.000% | 1/1/26 | 115 | 120 | |
Oklahoma Turnpike Authority Highway Revenue | 5.000% | 1/1/27 | 5 | 5 | |
Oklahoma Turnpike Authority Highway Revenue | 5.000% | 1/1/30 | 100 | 111 | |
2,148 | |||||
Oregon (0.7%) | |||||
Multnomah County OR GO | 5.000% | 6/15/27 | 185 | 199 | |
Multnomah County OR GO | 5.000% | 6/15/29 | 55 | 61 | |
Multnomah County OR School District No. 1 Portland GO | 5.000% | 6/15/24 | 140 | 141 | |
Multnomah County OR School District No. 1 Portland GO | 5.000% | 6/15/25 | 90 | 93 | |
Oregon Department of Transportation Fuel Sales Tax Revenue | 5.000% | 11/15/25 | 70 | 73 | |
Oregon Department of Transportation Fuel Sales Tax Revenue, Prere. | 5.000% | 11/15/24 | 150 | 153 | |
Oregon Department of Transportation Fuel Sales Tax Revenue, Prere. | 5.000% | 11/15/24 | 285 | 290 | |
Oregon Department of Transportation Fuel Sales Tax Revenue, Prere. | 5.000% | 11/15/24 | 90 | 92 | |
Oregon GO (Article XI-Q State Projects) | 5.000% | 5/1/25 | 110 | 113 | |
Oregon Health & Science University Health, Hospital, Nursing Home Revenue PUT | 5.000% | 2/1/30 | 100 | 109 | |
Oregon State Lottery Revenue | 5.000% | 4/1/26 | 165 | 169 | |
Oregon State Lottery Revenue | 5.000% | 4/1/27 | 10 | 10 | |
Oregon State Lottery Revenue | 5.000% | 4/1/28 | 95 | 98 | |
Oregon State Lottery Revenue | 5.000% | 4/1/29 | 140 | 144 | |
Tri-County Metropolitan Transportation District of Oregon Miscellaneous Taxes Revenue, Prere. | 5.000% | 9/1/27 | 345 | 373 | |
Tri-County Metropolitan Transportation District of Oregon Miscellaneous Taxes Revenue, Prere. | 5.000% | 9/1/27 | 305 | 330 | |
Washington & Multnomah Counties School District No. 48J Beaverton GO, Prere. | 5.000% | 6/15/24 | 65 | 66 | |
Washington & Multnomah Counties School District No. 48J Beaverton GO, Prere. | 5.000% | 6/15/24 | 115 | 116 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Washington County OR GO, Prere. | 3.000% | 7/1/29 | 20 | 20 | |
2,650 | |||||
Pennsylvania (3.6%) | |||||
Allegheny County PA GO | 5.000% | 11/1/28 | 25 | 26 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/1/24 | 270 | 270 | |
Commonwealth of Pennsylvania GO | 5.000% | 7/1/24 | 60 | 61 | |
Commonwealth of Pennsylvania GO | 5.000% | 8/15/24 | 315 | 319 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/24 | 225 | 228 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/24 | 180 | 183 | |
Commonwealth of Pennsylvania GO | 5.000% | 10/1/24 | 100 | 102 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/1/25 | 285 | 291 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/15/25 | 140 | 143 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/15/25 | 150 | 154 | |
Commonwealth of Pennsylvania GO | 5.000% | 7/15/25 | 265 | 274 | |
Commonwealth of Pennsylvania GO | 5.000% | 8/15/25 | 125 | 129 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/25 | 150 | 155 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/25 | 185 | 192 | |
Commonwealth of Pennsylvania GO | 5.000% | 10/1/25 | 315 | 327 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/1/26 | 330 | 344 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/1/26 | 20 | 21 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/15/26 | 50 | 51 | |
Commonwealth of Pennsylvania GO | 5.000% | 7/15/26 | 120 | 127 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/26 | 350 | 371 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/26 | 5 | 5 | |
Commonwealth of Pennsylvania GO | 5.000% | 10/1/26 | 125 | 133 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/1/27 | 165 | 176 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/15/27 | 140 | 149 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/15/27 | 10 | 10 | |
Commonwealth of Pennsylvania GO | 3.000% | 4/1/27 | 305 | 304 | |
Commonwealth of Pennsylvania GO | 5.000% | 7/15/27 | 215 | 232 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/27 | 60 | 63 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/1/28 | 80 | 85 | |
Commonwealth of Pennsylvania GO | 5.000% | 1/15/28 | 175 | 186 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/1/28 | 125 | 136 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/15/28 | 170 | 174 | |
Commonwealth of Pennsylvania GO | 3.000% | 6/15/28 | 80 | 80 | |
Commonwealth of Pennsylvania GO | 5.000% | 7/15/28 | 285 | 313 | |
Commonwealth of Pennsylvania GO | 5.000% | 9/15/28 | 295 | 311 | |
Commonwealth of Pennsylvania GO | 4.000% | 1/1/29 | 100 | 102 | |
Commonwealth of Pennsylvania GO | 5.000% | 3/15/29 | 70 | 71 | |
Commonwealth of Pennsylvania GO | 4.000% | 4/1/29 | 150 | 150 | |
Commonwealth of Pennsylvania GO | 5.000% | 7/15/29 | 440 | 491 | |
2 | Commonwealth of Pennsylvania GO | 4.000% | 8/15/29 | 150 | 151 |
Commonwealth of Pennsylvania GO | 4.000% | 1/1/30 | 150 | 153 | |
Commonwealth of Pennsylvania GO | 3.000% | 3/15/30 | 300 | 292 | |
Commonwealth of Pennsylvania GO | 5.000% | 10/1/30 | 215 | 244 | |
Delaware River Port Authority Highway Revenue | 5.000% | 1/1/24 | 305 | 305 | |
Delaware River Port Authority Highway Revenue | 5.000% | 1/1/25 | 10 | 10 | |
Delaware River Port Authority Highway Revenue | 5.000% | 1/1/26 | 200 | 208 | |
Delaware River Port Authority Highway Revenue, Prere. | 5.000% | 1/1/24 | 130 | 130 | |
Delaware Valley Regional Finance Authority Lease Revenue | 5.000% | 11/1/24 | 200 | 203 | |
1 | Delaware Valley Regional Finance Authority Lease Revenue | 5.500% | 8/1/28 | 765 | 840 |
Lehigh County Authority Water Revenue, Prere. | 5.125% | 12/1/23 | 90 | 90 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/23 | 100 | 100 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/24 | 115 | 116 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/24 | 150 | 151 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/24 | 170 | 173 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/25 | 435 | 446 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 6/1/26 | 210 | 217 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/26 | 75 | 80 | |
Pennsylvania Turnpike Commission Highway Revenue | 5.000% | 12/1/26 | 110 | 113 | |
Philadelphia PA GO | 5.000% | 8/1/25 | 145 | 149 | |
Philadelphia PA GO, Prere. | 5.000% | 1/15/24 | 10 | 10 | |
2 | Philadelphia PA Water & Wastewater Water Revenue | 5.000% | 9/1/28 | 250 | 274 |
Philadelphia PA Water & Wastewater Water Revenue, Prere. | 5.000% | 7/1/24 | 390 | 394 | |
Philadelphia PA Water & Wastewater Water Revenue, Prere. | 5.000% | 7/1/24 | 120 | 121 | |
Philadelphia School District GO | 5.000% | 9/1/24 | 205 | 207 | |
2 | Pittsburgh Water & Sewer Authority Water Revenue | 5.000% | 9/1/26 | 215 | 227 |
5 | Pittsburgh Water & Sewer Authority Water Revenue | 0.000% | 9/1/28 | 50 | 42 |
7 | School District of Philadelphia GO | 5.000% | 9/1/27 | 175 | 184 |
2 | State Public School Building Authority Lease (Appropriation) Revenue (Philadelphia School District Project) | 5.500% | 6/1/28 | 205 | 227 |
2 | State Public School Building Authority Lease (Non-Terminable) Revenue | 5.000% | 6/1/29 | 310 | 342 |
University of Pittsburgh-of the Commonwealth System of Higher Education College & University Revenue | 4.000% | 4/15/26 | 390 | 399 | |
University of Pittsburgh-of the Commonwealth System of Higher Education College & University Revenue | 5.000% | 2/15/29 | 300 | 332 | |
West View Municipal Authority Water Revenue, Prere. | 4.000% | 11/15/24 | 145 | 146 | |
14,015 | |||||
Rhode Island (0.2%) | |||||
Rhode Island Commerce Corp. Government Fund/Grant Revenue | 5.000% | 6/15/25 | 270 | 277 | |
Rhode Island Commerce Corp. Government Fund/Grant Revenue | 5.000% | 6/15/26 | 270 | 282 | |
Rhode Island Commerce Corp. Government Fund/Grant Revenue | 5.000% | 6/15/29 | 40 | 42 | |
Rhode Island Health and Educational Building Corp. College & University Revenue | 5.000% | 9/1/29 | 200 | 215 | |
816 | |||||
South Carolina (0.7%) | |||||
Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue | 5.000% | 12/1/24 | 130 | 130 | |
Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue | 5.000% | 12/1/25 | 215 | 215 | |
Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) | 5.000% | 12/1/24 | 100 | 102 | |
Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) | 5.000% | 12/1/26 | 120 | 127 | |
Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue (Charleston County School District, South Carolina Project) | 5.000% | 12/1/28 | 365 | 403 | |
Charleston Educational Excellence Finance Corp. Intergovernmental Agreement Revenue, Prere. | 5.000% | 12/1/23 | 150 | 150 | |
Columbia SC Waterworks & Sewer System Water Revenue, Prere. | 5.000% | 2/1/29 | 5 | 6 | |
Greenville County School District Lease (Appropriation) Revenue (SC Project) | 5.000% | 12/1/24 | 60 | 61 | |
Greenville County School District Lease (Appropriation) Revenue (SC Project) | 5.000% | 12/1/25 | 50 | 52 | |
Greenville County School District Lease (Appropriation) Revenue (SC Project) | 5.000% | 12/1/26 | 50 | 53 | |
Greenville County School District Lease (Appropriation) Revenue (SC Project) | 5.000% | 12/1/27 | 50 | 54 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
South Carolina Public Service Authority Miscellaneous Revenue | 5.000% | 12/1/25 | 145 | 147 | |
South Carolina Public Service Authority Miscellaneous Revenue, ETM | 5.000% | 12/1/23 | 300 | 300 | |
South Carolina Public Service Authority Nuclear Revenue, Prere. | 5.750% | 12/1/23 | 135 | 135 | |
South Carolina Transportation Infrastructure Bank Miscellaneous Revenue | 5.000% | 10/1/24 | 85 | 86 | |
South Carolina Transportation Infrastructure Bank Miscellaneous Revenue | 5.000% | 10/1/26 | 415 | 439 | |
South Carolina Transportation Infrastructure Bank Miscellaneous Revenue | 5.000% | 10/1/28 | 205 | 225 | |
2,685 | |||||
Tennessee (0.4%) | |||||
Memphis TN GO | 5.000% | 4/1/26 | 30 | 31 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 7/1/24 | 75 | 76 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 1/1/25 | 90 | 92 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 7/1/26 | 115 | 121 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 1/1/27 | 225 | 236 | |
Metropolitan Government of Nashville & Davidson County TN GO | 4.000% | 7/1/28 | 75 | 79 | |
Metropolitan Government of Nashville & Davidson County TN GO | 4.000% | 7/1/28 | 225 | 232 | |
Metropolitan Government of Nashville & Davidson County TN GO | 2.500% | 1/1/29 | 150 | 142 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 1/1/29 | 30 | 33 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 7/1/29 | 65 | 71 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 1/1/30 | 10 | 11 | |
Metropolitan Government of Nashville & Davidson County TN GO | 4.000% | 7/1/30 | 105 | 108 | |
Metropolitan Government of Nashville & Davidson County TN GO | 5.000% | 7/1/30 | 15 | 16 | |
Tennessee State School Bond Authority College & University Revenue (Higher Educational Facilities 2nd Program), Prere. | 5.000% | 11/1/25 | 230 | 239 | |
Tennessee State School Bond Authority College & University Revenue (Higher Educational Facilities 2nd Program), Prere. | 5.000% | 11/1/25 | 90 | 94 | |
1,581 | |||||
Texas (8.7%) | |||||
Abilene TX GO, Prere. | 3.000% | 2/15/24 | 50 | 50 | |
Alamo Community College District GO | 5.000% | 2/15/24 | 75 | 75 | |
Alamo Community College District GO | 5.000% | 2/15/25 | 170 | 174 | |
Alamo Community College District GO | 5.000% | 2/15/26 | 100 | 105 | |
Alamo Community College District GO | 5.000% | 2/15/28 | 50 | 55 | |
Alamo Community College District GO | 5.000% | 2/15/29 | 150 | 166 | |
Austin Independent School District GO | 5.000% | 8/1/24 | 180 | 182 | |
Austin Independent School District GO | 5.000% | 8/1/25 | 160 | 165 | |
Austin TX GO | 2.950% | 9/1/27 | 15 | 15 | |
5 | Austin TX Multiple Utility Revenue | 5.250% | 5/15/25 | 155 | 157 |
Austin TX Water & Wastewater System Water Revenue | 5.000% | 11/15/28 | 115 | 127 | |
Bexar County TX GO, Prere. | 5.000% | 6/15/24 | 80 | 81 | |
Bexar County TX GO, Prere. | 5.000% | 6/15/26 | 770 | 808 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/24 | 70 | 71 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/24 | 140 | 142 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/24 | 95 | 96 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/25 | 125 | 129 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/25 | 195 | 202 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/26 | 135 | 143 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/26 | 95 | 100 | |
Board of Regents of the University of Texas System College & University Revenue | 5.000% | 8/15/29 | 100 | 112 | |
Central Texas Regional Mobility Authority Highway Revenue, Prere. | 5.000% | 7/1/25 | 50 | 52 | |
9 | Clear Creek Independent School District GO | 5.000% | 2/15/30 | 250 | 255 |
Collin County TX GO | 5.000% | 2/15/24 | 100 | 100 | |
9 | Conroe Independent School District GO | 5.000% | 2/15/29 | 180 | 200 |
9 | Cypress-Fairbanks Independent School District GO | 5.000% | 2/15/25 | 20 | 20 |
9 | Cypress-Fairbanks Independent School District GO | 5.000% | 2/15/26 | 300 | 313 |
9 | Cypress-Fairbanks Independent School District GO | 5.000% | 2/15/27 | 155 | 162 |
9 | Cypress-Fairbanks Independent School District GO | 5.000% | 2/15/27 | 100 | 107 |
9 | Cypress-Fairbanks Independent School District GO | 5.000% | 2/15/29 | 100 | 102 |
1 | Dallas Area Rapid Transit Sales Tax Revenue | 5.250% | 12/1/28 | 140 | 156 |
Dallas Area Rapid Transit Sales Tax Revenue | 5.000% | 12/1/29 | 220 | 247 | |
Dallas Area Rapid Transit Sales Tax Revenue, Prere. | 5.000% | 12/1/24 | 570 | 580 | |
Dallas Area Rapid Transit Sales Tax Revenue, Prere. | 5.000% | 12/1/25 | 15 | 16 | |
Dallas Area Rapid Transit Sales Tax Revenue, Prere. | 5.000% | 12/1/25 | 50 | 52 | |
Dallas Area Rapid Transit Sales Tax Revenue, Prere. | 5.000% | 12/1/25 | 475 | 493 | |
Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 5.000% | 11/1/25 | 245 | 254 | |
Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 5.000% | 11/1/25 | 100 | 104 | |
Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 5.000% | 11/1/26 | 160 | 170 | |
Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 5.000% | 11/1/28 | 100 | 110 | |
Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 5.000% | 11/1/29 | 100 | 112 | |
Dallas Fort Worth International Airport Port, Airport & Marina Revenue | 5.000% | 11/1/30 | 100 | 114 | |
9 | Dallas Independent School District GO | 5.000% | 2/15/24 | 250 | 251 |
9 | Dallas Independent School District GO | 5.000% | 8/15/24 | 75 | 76 |
9 | Dallas Independent School District GO, Prere. | 5.000% | 8/15/24 | 560 | 567 |
9 | Dallas Independent School District GO, Prere. | 5.000% | 8/15/24 | 15 | 15 |
Dallas TX GO | 5.000% | 2/15/26 | 100 | 104 | |
Dallas TX GO | 5.000% | 2/15/27 | 150 | 160 | |
Dallas TX GO | 5.000% | 2/15/28 | 100 | 109 | |
Dallas TX GO | 5.000% | 2/15/29 | 265 | 292 | |
Dallas TX GO | 5.000% | 2/15/30 | 100 | 112 | |
Dallas TX Waterworks & Sewer System Water Revenue | 5.000% | 10/1/24 | 115 | 117 | |
Dallas TX Waterworks & Sewer System Water Revenue | 5.000% | 10/1/25 | 70 | 72 | |
Dallas TX Waterworks & Sewer System Water Revenue | 5.000% | 10/1/30 | 5 | 5 | |
9 | Denton Independent School District GO, Prere. | 5.000% | 8/15/25 | 100 | 103 |
9 | Denton Independent School District GO, Prere. | 5.000% | 8/15/25 | 175 | 181 |
9 | Fort Worth Independent School District GO | 5.000% | 2/15/28 | 105 | 107 |
9 | Fort Worth Independent School District GO, Prere. | 5.000% | 2/15/25 | 10 | 10 |
9 | Garland Independent School District GO | 5.000% | 2/15/24 | 185 | 186 |
9 | Goose Creek Consolidated Independent School District GO PUT | 0.720% | 8/1/26 | 380 | 355 |
Grand Parkway Transportation Corp. Highway Revenue Tolls PUT | 5.000% | 4/1/28 | 250 | 268 | |
Harris County TX GO | 5.000% | 10/1/24 | 160 | 163 | |
Harris County TX GO | 5.000% | 10/1/25 | 80 | 83 | |
Harris County TX GO | 5.000% | 10/1/26 | 30 | 31 | |
Harris County TX GO | 5.000% | 10/1/26 | 330 | 349 | |
Harris County TX GO | 5.000% | 10/1/27 | 155 | 160 | |
Harris County TX Highway Revenue | 5.000% | 8/15/24 | 95 | 96 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Harris County TX Highway Revenue | 5.000% | 8/15/25 | 150 | 155 | |
Harris County TX Highway Revenue | 5.000% | 8/15/30 | 10 | 10 | |
2 | Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue | 5.000% | 11/15/24 | 590 | 599 |
2 | Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue | 5.000% | 11/15/25 | 25 | 25 |
2 | Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue | 5.000% | 11/15/26 | 250 | 254 |
Harris County-Houston Sports Authority Hotel Occupancy Tax Revenue | 5.000% | 11/15/29 | 55 | 56 | |
9 | Houston Independent School District GO | 5.000% | 2/15/25 | 225 | 230 |
9 | Houston Independent School District GO | 5.000% | 2/15/26 | 180 | 188 |
9 | Houston Independent School District GO | 5.000% | 2/15/26 | 30 | 31 |
9 | Houston Independent School District GO | 5.000% | 2/15/27 | 115 | 120 |
9 | Houston Independent School District GO | 5.000% | 2/15/28 | 115 | 123 |
9 | Houston Independent School District GO | 5.000% | 2/15/28 | 50 | 52 |
9 | Houston Independent School District GO | 5.000% | 2/15/30 | 475 | 495 |
Houston TX Airport System Port, Airport & Marina Revenue | 5.000% | 7/1/29 | 85 | 92 | |
Houston TX Airport System Port, Airport & Marina Revenue | 5.000% | 7/1/30 | 90 | 97 | |
Houston TX Combined Utility System Sewer Revenue | 5.000% | 5/15/24 | 410 | 413 | |
Houston TX Combined Utility System Sewer Revenue | 5.000% | 5/15/25 | 395 | 398 | |
Houston TX Combined Utility System Sewer Revenue | 5.000% | 5/15/28 | 15 | 15 | |
Houston TX GO | 5.000% | 3/1/24 | 350 | 352 | |
Houston TX GO | 5.000% | 3/1/25 | 115 | 118 | |
Houston TX GO | 5.000% | 3/1/25 | 150 | 154 | |
Houston TX GO | 5.000% | 3/1/26 | 310 | 324 | |
Houston TX GO | 5.000% | 3/1/26 | 50 | 52 | |
Houston TX GO | 5.000% | 3/1/27 | 65 | 68 | |
Houston TX GO | 5.000% | 3/1/27 | 5 | 5 | |
Houston TX GO | 5.000% | 3/1/28 | 100 | 106 | |
Houston TX GO | 5.000% | 3/1/28 | 50 | 54 | |
Houston TX GO | 5.000% | 3/1/29 | 105 | 112 | |
Houston TX GO | 5.000% | 3/1/29 | 10 | 11 | |
Houston TX GO | 5.000% | 3/1/30 | 130 | 143 | |
9 | Hutto Independent School District GO PUT | 2.000% | 8/1/25 | 250 | 243 |
9 | Katy Independent School District GO | 5.000% | 2/15/24 | 125 | 125 |
9 | Leander Independent School District GO, Prere. | 0.000% | 8/15/24 | 250 | 74 |
Lewisville Independent School District GO | 5.000% | 8/15/25 | 65 | 67 | |
Lewisville Independent School District GO | 5.000% | 8/15/28 | 155 | 159 | |
2 | Lower Colorado River Authority Intergovernmental Agreement Revenue | 5.000% | 5/15/27 | 100 | 107 |
2 | Lower Colorado River Authority Intergovernmental Agreement Revenue | 5.000% | 5/15/30 | 100 | 112 |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/24 | 135 | 135 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/25 | 130 | 130 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/25 | 165 | 165 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/25 | 100 | 102 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/26 | 100 | 104 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/27 | 145 | 145 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/27 | 100 | 104 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/27 | 100 | 106 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/28 | 65 | 68 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/28 | 95 | 99 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/28 | 90 | 97 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/29 | 30 | 31 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/29 | 285 | 296 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/29 | 310 | 320 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/30 | 400 | 400 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/30 | 285 | 289 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/30 | 90 | 93 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/30 | 200 | 208 | |
North Texas Tollway Authority Highway Revenue | 5.000% | 1/1/31 | 100 | 112 | |
6 | North Texas Tollway Authority Miscellaneous Revenue | 0.000% | 1/1/28 | 260 | 227 |
6 | North Texas Tollway Authority Miscellaneous Revenue | 0.000% | 1/1/29 | 150 | 126 |
6 | North Texas Tollway Authority Miscellaneous Revenue | 0.000% | 1/1/30 | 295 | 239 |
9 | Northside Independent School District GO PUT | 0.700% | 6/1/25 | 20 | 19 |
9 | Northside Independent School District GO PUT | 3.000% | 8/1/26 | 150 | 148 |
9 | Northside Independent School District GO PUT | 2.000% | 6/1/27 | 250 | 237 |
Permanent University Fund - University of Texas System College & University Revenue | 5.000% | 7/1/27 | 130 | 140 | |
Permanent University Fund - University of Texas System College & University Revenue, Prere. | 4.000% | 7/1/24 | 130 | 131 | |
Permanent University Fund - University of Texas System College & University Revenue, Prere. | 5.000% | 7/1/24 | 20 | 20 | |
Plano Independent School District GO | 5.000% | 2/15/25 | 150 | 153 | |
9 | Rockwall Independent School District GO, Prere. | 5.000% | 2/15/25 | 100 | 102 |
9 | Round Rock Independent School District GO | 5.000% | 8/1/30 | 115 | 128 |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.250% | 2/1/24 | 390 | 391 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/25 | 150 | 153 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.250% | 2/1/25 | 80 | 82 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/26 | 215 | 224 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/26 | 50 | 52 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/27 | 80 | 84 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/28 | 400 | 435 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/30 | 255 | 267 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue | 5.000% | 2/1/39 | 130 | 130 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue PUT | 3.650% | 12/1/26 | 150 | 149 | |
San Antonio TX Electric & Gas Systems Electric Power & Light Revenue, ETM | 5.000% | 2/1/24 | 255 | 256 | |
San Antonio TX GO | 5.000% | 2/1/25 | 250 | 256 | |
San Antonio Water System Water Revenue PUT | 2.625% | 5/1/24 | 200 | 199 | |
9 | Spring Branch Independent School District GO | 5.000% | 2/1/25 | 340 | 348 |
9 | Spring Branch Independent School District GO | 5.000% | 2/1/26 | 100 | 104 |
Tarrant Regional Water District Water Supply System Water Revenue, Prere. | 5.000% | 3/1/24 | 45 | 45 | |
Texas A&M University College & University Revenue | 5.000% | 5/15/25 | 85 | 87 | |
Texas A&M University College & University Revenue | 5.000% | 5/15/26 | 175 | 184 | |
Texas A&M University College & University Revenue | 5.000% | 5/15/27 | 60 | 65 | |
Texas A&M University College & University Revenue | 5.000% | 5/15/28 | 85 | 91 | |
Texas GO | 5.000% | 10/1/24 | 465 | 468 | |
Texas GO | 5.000% | 10/1/25 | 250 | 254 | |
Texas GO | 5.000% | 4/1/26 | 175 | 176 | |
Texas GO | 5.000% | 10/1/26 | 185 | 187 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Texas GO | 5.000% | 10/1/26 | 120 | 124 | |
Texas GO | 5.000% | 10/1/27 | 90 | 91 | |
Texas GO | 5.000% | 10/1/27 | 165 | 171 | |
Texas GO | 5.000% | 10/1/28 | 75 | 77 | |
Texas GO | 5.000% | 10/1/29 | 400 | 412 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 520 | 523 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 320 | 322 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 45 | 45 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 100 | 101 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 200 | 201 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 395 | 397 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 315 | 317 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 105 | 106 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 25 | 25 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 105 | 106 | |
Texas GO, Prere. | 5.000% | 4/1/24 | 30 | 30 | |
Texas GO, Prere. | 5.000% | 10/1/24 | 375 | 380 | |
Texas GO, Prere. | 5.000% | 10/1/24 | 470 | 477 | |
Texas GO, Prere. | 5.000% | 10/1/24 | 385 | 390 | |
Texas State University System College & University Revenue | 5.000% | 3/15/28 | 35 | 37 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.000% | 10/1/24 | 585 | 594 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.000% | 10/1/24 | 500 | 508 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.000% | 4/1/25 | 550 | 553 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.000% | 10/1/25 | 355 | 368 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue | 5.000% | 10/1/26 | 50 | 53 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue, Prere. | 5.000% | 4/1/24 | 120 | 121 | |
Texas Transportation Commission State Highway Fund Fuel Sales Tax Revenue, Prere. | 5.000% | 4/1/24 | 150 | 151 | |
Texas Water Development Board Water Revenue | 5.000% | 4/15/25 | 125 | 128 | |
Texas Water Development Board Water Revenue | 5.000% | 4/15/29 | 200 | 216 | |
Texas Water Development Board Water Revenue | 5.000% | 4/15/30 | 50 | 55 | |
Texas Water Development Board Water Revenue | 5.000% | 10/15/30 | 130 | 135 | |
Trinity River Authority Central Regional Wastewater System Water Revenue | 5.000% | 8/1/28 | 135 | 145 | |
University of Texas System Regents College & University Revenue | 5.000% | 8/15/30 | 405 | 462 | |
9 | Ysleta Independent School District GO, Prere. | 5.000% | 8/15/25 | 195 | 201 |
33,968 | |||||
Utah (0.5%) | |||||
Intermountain Power Agency Electric Power & Light Revenue | 5.000% | 7/1/29 | 225 | 250 | |
Intermountain Power Agency Electric Power & Light Revenue | 5.000% | 7/1/30 | 190 | 215 | |
Utah GO | 5.000% | 7/1/25 | 150 | 155 | |
Utah GO | 5.000% | 7/1/27 | 200 | 216 | |
Utah GO | 5.000% | 7/1/28 | 50 | 55 | |
Utah GO | 5.000% | 7/1/29 | 100 | 111 | |
Utah GO | 5.000% | 7/1/30 | 200 | 221 | |
Utah Transit Authority Government Securities & Interest Revenue, Prere. | 5.000% | 6/15/25 | 340 | 351 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 4.000% | 6/15/25 | 35 | 36 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 4.000% | 6/15/25 | 20 | 20 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/15/25 | 165 | 170 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Utah Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/15/25 | 10 | 10 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/15/25 | 65 | 67 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/15/25 | 20 | 21 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/15/25 | 95 | 98 | |
Utah Transit Authority Sales Tax Revenue, Prere. | 5.000% | 6/15/25 | 15 | 15 | |
2,011 | |||||
Virginia (1.9%) | |||||
Fairfax County VA GO | 4.000% | 10/1/26 | 325 | 333 | |
Hampton Roads Transportation Accountability Commission Appropriations Revenue BAN, ETM | 5.000% | 7/1/26 | 315 | 330 | |
Hampton Roads Transportation Accountability Commission Sales Tax Revenue, Prere. | 5.000% | 1/1/28 | 65 | 71 | |
Hampton Roads Transportation Accountability Commission Sales Tax Revenue, Prere. | 5.500% | 1/1/28 | 345 | 383 | |
Richmond VA Public Utility Water Revenue, Prere. | 5.000% | 1/15/26 | 105 | 109 | |
Virginia College Building Authority Appropriations Revenue | 5.000% | 2/1/24 | 250 | 251 | |
Virginia College Building Authority Appropriations Revenue | 5.000% | 2/1/25 | 105 | 107 | |
Virginia College Building Authority Appropriations Revenue | 3.000% | 2/1/27 | 155 | 153 | |
Virginia College Building Authority Appropriations Revenue | 5.000% | 2/1/29 | 150 | 164 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/24 | 125 | 125 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/24 | 100 | 100 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/25 | 350 | 358 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/25 | 100 | 102 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/26 | 55 | 57 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/26 | 100 | 104 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/27 | 100 | 107 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/27 | 225 | 240 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/28 | 125 | 136 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/29 | 160 | 178 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/30 | 370 | 403 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/30 | 100 | 113 | |
Virginia College Building Authority Appropriations Revenue (21st Century College & Equipment Programs) | 5.000% | 2/1/30 | 100 | 113 | |
Virginia College Building Authority Appropriations Revenue, Prere. | 5.000% | 2/1/25 | 750 | 767 | |
Virginia College Building Authority College & University Revenue | 5.000% | 9/1/27 | 190 | 201 | |
Virginia College Building Authority Lease (Appropriation) Revenue (21st Century College and Equipment Project) | 5.000% | 2/1/25 | 135 | 138 | |
Virginia Commonwealth Transportation Board Appropriations Revenue | 5.000% | 5/15/24 | 95 | 96 | |
Virginia Commonwealth Transportation Board Appropriations Revenue | 5.000% | 5/15/25 | 190 | 196 | |
Virginia Commonwealth Transportation Board Appropriations Revenue | 5.000% | 5/15/26 | 65 | 68 | |
Virginia Commonwealth Transportation Board Appropriations Revenue | 5.000% | 5/15/27 | 340 | 365 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Virginia Commonwealth Transportation Board Appropriations Revenue | 5.000% | 5/15/28 | 170 | 184 | |
Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN | 5.000% | 3/15/25 | 25 | 26 | |
Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN | 5.000% | 9/15/25 | 210 | 218 | |
Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN | 5.000% | 3/15/26 | 40 | 42 | |
Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN | 5.000% | 9/15/26 | 250 | 265 | |
Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN | 5.000% | 3/15/27 | 15 | 16 | |
Virginia Commonwealth Transportation Board Government Fund/Grant Revenue GAN | 5.000% | 9/15/27 | 60 | 65 | |
Virginia Public Building Authority Appropriations Revenue | 5.000% | 8/1/24 | 135 | 137 | |
Virginia Public Building Authority Appropriations Revenue | 5.000% | 8/1/24 | 100 | 101 | |
Virginia Public Building Authority Appropriations Revenue | 5.000% | 8/1/24 | 60 | 61 | |
Virginia Public Building Authority Appropriations Revenue | 5.000% | 8/1/25 | 100 | 103 | |
Virginia Public Building Authority Appropriations Revenue | 5.000% | 8/1/26 | 85 | 90 | |
Virginia Public Building Authority Appropriations Revenue | 5.000% | 8/1/28 | 100 | 108 | |
Virginia Public School Authority Intergovernmental Agreement Revenue | 5.000% | 8/1/26 | 80 | 82 | |
Virginia Public School Authority Intergovernmental Agreement Revenue | 5.000% | 8/1/27 | 200 | 206 | |
Virginia Public School Authority Intergovernmental Agreement Revenue | 5.000% | 8/1/28 | 20 | 21 | |
7,593 | |||||
Washington (4.0%) | |||||
Central Puget Sound Regional Transit Authority Sales Tax Revenue | 5.000% | 11/1/26 | 75 | 80 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue | 5.000% | 11/1/27 | 500 | 543 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue | 5.000% | 11/1/29 | 120 | 135 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue | 5.000% | 11/1/30 | 75 | 86 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 75 | 78 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 180 | 187 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 25 | 26 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 130 | 135 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 300 | 311 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 5 | 5 | |
Central Puget Sound Regional Transit Authority Sales Tax Revenue, Prere. | 5.000% | 11/1/25 | 650 | 674 | |
Energy Northwest Nuclear Revenue | 5.000% | 7/1/24 | 155 | 157 | |
Energy Northwest Nuclear Revenue | 5.000% | 7/1/25 | 25 | 26 | |
Energy Northwest Nuclear Revenue | 5.000% | 7/1/26 | 145 | 149 | |
Energy Northwest Nuclear Revenue | 5.000% | 7/1/28 | 130 | 137 | |
Energy Northwest Nuclear Revenue | 5.000% | 7/1/29 | 105 | 113 | |
Energy Northwest Nuclear Revenue | 4.000% | 7/1/30 | 190 | 202 | |
Energy Northwest Nuclear Revenue (Project No. 1 Electric Revenue) | 5.000% | 7/1/27 | 100 | 108 | |
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/25 | 375 | 379 | |
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/26 | 210 | 221 | |
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/26 | 300 | 303 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/26 | 405 | 427 | |
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/26 | 65 | 68 | |
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/27 | 110 | 118 | |
Energy Northwest Nuclear Revenue (Project No. 1) | 5.000% | 7/1/28 | 415 | 446 | |
Energy Northwest Nuclear Revenue (Project No. 3 Electric Revenue) | 5.000% | 7/1/24 | 65 | 66 | |
Energy Northwest Nuclear Revenue (Project No. 3 Electric Revenue) | 5.000% | 7/1/28 | 390 | 429 | |
Energy Northwest Nuclear Revenue (Project No. 3) | 5.000% | 7/1/25 | 65 | 67 | |
Energy Northwest Nuclear Revenue (Project No. 3) | 5.000% | 7/1/28 | 215 | 217 | |
Energy Northwest Nuclear Revenue (Project No. 3) | 5.000% | 7/1/28 | 155 | 167 | |
Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project, Electric Power & Light Revenue, Prere. | 4.000% | 7/1/24 | 20 | 20 | |
King County School District No. 414 Lake Washington GO | 4.000% | 12/1/29 | 40 | 42 | |
King County WA GO | 4.000% | 1/1/26 | 165 | 169 | |
King County WA GO | 5.000% | 1/1/30 | 265 | 298 | |
King County WA Sewer Revenue | 4.000% | 7/1/30 | 160 | 163 | |
King County WA Sewer Revenue PUT | 0.625% | 1/1/24 | 100 | 100 | |
2 | King County WA Sewer Revenue, Prere. | 5.000% | 7/1/24 | 1,715 | 1,731 |
King County WA Sewer Revenue, Prere. | 5.000% | 1/1/25 | 100 | 102 | |
King County WA Sewer Revenue, Prere. | 5.000% | 1/1/25 | 100 | 102 | |
King County WA Sewer Revenue, Prere. | 5.000% | 1/1/25 | 15 | 15 | |
Pierce County School District No. 10 Tacoma GO, Prere. | 5.250% | 12/1/24 | 25 | 25 | |
Port of Seattle WA Port, Airport & Marina Revenue | 5.000% | 8/1/30 | 5 | 6 | |
Seattle WA Municipal Light & Power Electric Power & Light Revenue | 5.000% | 2/1/25 | 215 | 220 | |
University of Washington College & University Revenue PUT | 4.000% | 8/1/27 | 100 | 102 | |
Washington Appropriations Revenue (Garvee-SR 520 Corridor Project) | 5.000% | 9/1/24 | 60 | 61 | |
Washington GO | 5.000% | 7/1/24 | 435 | 440 | |
Washington GO | 5.000% | 7/1/24 | 85 | 86 | |
Washington GO | 5.000% | 7/1/24 | 230 | 232 | |
Washington GO | 5.000% | 8/1/24 | 55 | 56 | |
Washington GO | 5.000% | 7/1/25 | 320 | 330 | |
Washington GO | 5.000% | 7/1/25 | 45 | 46 | |
Washington GO | 5.000% | 7/1/25 | 200 | 206 | |
Washington GO | 4.000% | 7/1/26 | 145 | 149 | |
Washington GO | 4.000% | 7/1/26 | 5 | 5 | |
Washington GO | 5.000% | 7/1/26 | 50 | 52 | |
Washington GO | 5.000% | 7/1/26 | 65 | 66 | |
Washington GO | 5.000% | 7/1/26 | 175 | 178 | |
Washington GO | 5.000% | 8/1/26 | 185 | 196 | |
Washington GO | 5.000% | 8/1/26 | 65 | 69 | |
Washington GO | 4.000% | 7/1/27 | 1,055 | 1,099 | |
Washington GO | 5.000% | 7/1/27 | 20 | 20 | |
Washington GO | 5.000% | 8/1/27 | 245 | 258 | |
Washington GO | 5.000% | 8/1/27 | 455 | 491 | |
Washington GO | 5.000% | 7/1/28 | 55 | 56 | |
Washington GO | 5.000% | 7/1/28 | 125 | 130 | |
Washington GO | 5.000% | 7/1/28 | 325 | 332 | |
Washington GO | 5.000% | 8/1/28 | 60 | 64 | |
Washington GO | 5.000% | 7/1/29 | 255 | 260 | |
Washington GO | 5.000% | 7/1/29 | 200 | 208 | |
Washington GO | 5.000% | 8/1/29 | 100 | 105 | |
Washington GO | 5.000% | 8/1/29 | 130 | 139 | |
Washington GO | 5.000% | 7/1/30 | 235 | 244 |
Coupon | Maturity Date | Face Amount ($000) | Market Value• ($000) | ||
Washington GO | 5.000% | 7/1/30 | 305 | 310 | |
Washington GO | 5.000% | 7/1/30 | 200 | 227 | |
Washington GO | 5.000% | 7/1/30 | 200 | 204 | |
Washington GO | 5.000% | 8/1/30 | 300 | 321 | |
15,795 | |||||
Wisconsin (1.2%) | |||||
Dane County WI GO | 2.500% | 6/1/27 | 100 | 96 | |
Wisconsin Appropriations Revenue, ETM | 5.000% | 5/1/24 | 475 | 479 | |
Wisconsin Appropriations Revenue, ETM | 5.000% | 5/1/27 | 25 | 27 | |
Wisconsin Appropriations Revenue, Prere. | 5.000% | 5/1/27 | 115 | 123 | |
Wisconsin Appropriations Revenue, Prere. | 5.000% | 5/1/27 | 230 | 247 | |
Wisconsin Department of Transportation Miscellaneous Revenue | 5.000% | 7/1/28 | 100 | 107 | |
Wisconsin Department of Transportation Miscellaneous Revenue | 5.000% | 7/1/28 | 100 | 107 | |
Wisconsin Department of Transportation Miscellaneous Revenue | 5.000% | 7/1/30 | 250 | 285 | |
Wisconsin Department of Transportation Miscellaneous Revenue | 5.000% | 7/1/30 | 200 | 214 | |
Wisconsin GO | 5.000% | 5/1/24 | 200 | 202 | |
Wisconsin GO | 5.000% | 11/1/24 | 345 | 351 | |
Wisconsin GO | 5.000% | 5/1/25 | 105 | 107 | |
Wisconsin GO | 5.000% | 5/1/25 | 210 | 216 | |
Wisconsin GO | 5.000% | 11/1/25 | 150 | 156 | |
Wisconsin GO | 5.000% | 11/1/26 | 355 | 378 | |
Wisconsin GO | 5.000% | 11/1/27 | 175 | 188 | |
Wisconsin GO | 5.000% | 11/1/27 | 105 | 113 | |
Wisconsin GO | 5.000% | 5/1/28 | 305 | 310 | |
Wisconsin GO | 5.000% | 11/1/28 | 115 | 123 | |
Wisconsin GO | 5.000% | 11/1/28 | 115 | 123 | |
Wisconsin GO | 5.000% | 5/1/29 | 140 | 143 | |
Wisconsin GO | 5.000% | 11/1/29 | 80 | 86 | |
Wisconsin GO | 5.000% | 5/1/30 | 180 | 205 | |
Wisconsin GO | 5.000% | 5/1/30 | 260 | 296 | |
4,682 | |||||
Total Tax-Exempt Municipal Bonds (Cost $385,184) | 388,062 |
Coupon | Shares | Market Value• ($000) | |||
Temporary Cash Investments (0.6%) | |||||
Money Market Fund (0.6%) | |||||
10 | Vanguard Municipal Cash Management Fund (Cost $2,384) | 3.360% | 23,838 | 2,384 | |
Total Investments (100.0%) (Cost $387,568) | 390,446 | ||||
Other Assets and Liabilities—Net (0.0%) | 93 | ||||
Net Assets (100%) | 390,539 | ||||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp. |
2 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
3 | Scheduled principal and interest payments are guaranteed by Financial Guaranty Insurance Co. |
4 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of November 30, 2023. |
5 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
6 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Corp. |
7 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
8 | Scheduled principal and interest payments are guaranteed by Michigan School Board Loan Fund. |
9 | Scheduled principal and interest payments are guaranteed by Texas Permanent School Fund. |
10 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
BAN—Bond Anticipation Note. | |
COP—Certificate of Participation. | |
ETM—Escrowed to Maturity. | |
GAN—Grant Anticipation Note. | |
GO—General Obligation Bond. | |
PILOT—Payments in Lieu of Taxes. | |
Prere.—Prerefunded. | |
PUT—Put Option Obligation. | |
RAN—Revenue Anticipation Note. | |
VRDO—Variable Rate Demand Obligation. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $385,184) | 388,062 |
Affiliated Issuers (Cost $2,384) | 2,384 |
Total Investments in Securities | 390,446 |
Investment in Vanguard | 11 |
Cash | 1 |
Receivables for Investment Securities Sold | 257 |
Receivables for Accrued Income | 5,214 |
Receivables for Capital Shares Issued | 24 |
Total Assets | 395,953 |
Liabilities | |
Payables for Investment Securities Purchased | 5,403 |
Payables to Vanguard | 11 |
Total Liabilities | 5,414 |
Net Assets | 390,539 |
At November 30, 2023, net assets consisted of: | |
Paid-in Capital | 386,860 |
Total Distributable Earnings (Loss) | 3,679 |
Net Assets | 390,539 |
Net Assets | |
Applicable to 3,875,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 390,539 |
Net Asset Value Per Share | $100.78 |
March 7, 20231 to November 30, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest2 | 3,942 |
Total Income | 3,942 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 3 |
Management and Administrative | 23 |
Marketing and Distribution | 8 |
Custodian Fees | 4 |
Auditing Fees | 30 |
Shareholders’ Reports | 16 |
Trustees’ Fees and Expenses | — |
Professional Services | 11 |
Total Expenses | 95 |
Net Investment Income | 3,847 |
Realized Net Gain (Loss) on Investment Securities Sold2,3 | (377) |
Change in Unrealized Appreciation (Depreciation) of Investment Securities2 | 2,878 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,348 |
1 | Inception. |
2 | Interest income, realized net gain (loss), and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $50,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes ($263,000) of net gain (loss) resulting from in-kind redemptions. |
March 7, 20231 to November 30, 2023 | |
($000) | |
Increase (Decrease) in Net Assets | |
Operations | |
Net Investment Income | 3,847 |
Realized Net Gain (Loss) | (377) |
Change in Unrealized Appreciation (Depreciation) | 2,878 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,348 |
Distributions | |
Total Distributions | (2,931) |
Capital Share Transactions | |
Issued | 417,141 |
Issued in Lieu of Cash Distributions | — |
Redeemed | (30,019) |
Net Increase (Decrease) from Capital Share Transactions | 387,122 |
Total Increase (Decrease) | 390,539 |
Net Assets | |
Beginning of Period | — |
End of Period | 390,539 |
1 | Inception. |
For a Share Outstanding Throughout Each Period | March 7, 20231 to November 30, 2023 |
Net Asset Value, Beginning of Period | $100.00 |
Investment Operations | |
Net Investment Income2 | 2.098 |
Net Realized and Unrealized Gain (Loss) on Investments | .252 |
Total from Investment Operations | 2.350 |
Distributions | |
Dividends from Net Investment Income | (1.570) |
Distributions from Realized Capital Gains | — |
Total Distributions | (1.570) |
Net Asset Value, End of Period | $100.78 |
Total Return | 2.38% |
Ratios/Supplemental Data | |
Net Assets, End of Period (Millions) | $391 |
Ratio of Total Expenses to Average Net Assets | 0.07%3 |
Ratio of Net Investment Income to Average Net Assets | 2.85%3 |
Portfolio Turnover Rate | 9%4 |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Annualized. |
4 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares, including ETF Creation Units. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Tax-Exempt Municipal Bonds | — | 388,062 | — | 388,062 |
Temporary Cash Investments | 2,384 | — | — | 2,384 |
Total | 2,384 | 388,062 | — | 390,446 |
D. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | (262) |
Total Distributable Earnings (Loss) | 262 |
Amount ($000) | |
Undistributed Ordinary Income | — |
Undistributed Tax-Exempt Income | 916 |
Undistributed Long-Term Gains | — |
Net Unrealized Gains (Losses) | 2,868 |
Capital Loss Carryforwards | (105) |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 3,679 |
Period Ended November 30, | |
2023 Amount ($000) | |
Tax-Exempt Income | 2,931 |
Ordinary Income | — |
Long-Term Capital Gains | — |
Total | 2,931 |
Amount ($000) | |
Tax Cost | 387,578 |
Gross Unrealized Appreciation | 3,634 |
Gross Unrealized Depreciation | (766) |
Net Unrealized Appreciation (Depreciation) | 2,868 |
E. | During the period ended November 30, 2023, the fund purchased $405,350,000 of investment securities and sold $45,771,000 of investment securities, other than temporary cash investments. Purchases and sales include $244,710,000 and $28,467,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
F. | Capital shares issued and redeemed were: |
March 7, 20231 to November 30, 2023 | |
Shares (000) | |
Issued | 4,175 |
Issued in Lieu of Cash Distributions | — |
Redeemed | (300) |
Net Increase (Decrease) in Shares Outstanding | 3,875 |
1 | Inception. |
G. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
H. | Management has determined that no other events or transactions occurred subsequent to November 30, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
January 19, 2024
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Item 2: Code of Ethics.
The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.
Item 3: Audit Committee Financial Expert.
All members of the Audit Committee have been determined by the Registrant’s Board of Trustees to be Audit Committee Financial Experts and to be independent: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.
Item 4: Principal Accountant Fees and Services.
(a) Audit Fees.
Audit Fees of the Registrant.
Fiscal Year Ended November 30, 2023: $230,000
Fiscal Year Ended November 30, 2022: $250,000
Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.
Fiscal Year Ended November 30, 2023: $9,326,156
Fiscal Year Ended November 30, 2022: $10,494,508
Includes fees billed in connection with audits of the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(b) Audit-Related Fees.
Fiscal Year Ended November 30, 2023: $3,295,934
Fiscal Year Ended November 30, 2022: $2,757,764
Includes fees billed in connection with assurance and related services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(c) Tax Fees.
Fiscal Year Ended November 30, 2023: $1,678,928
Fiscal Year Ended November 30, 2022: $5,202,689
Includes fees billed in connection with tax compliance, planning, and advice services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(d) All Other Fees.
Fiscal Year Ended November 30, 2023: $25,000
Fiscal Year Ended November 30, 2022: $298,000
Includes fees billed for services related to tax reported information provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(e) (1) Pre-Approval Policies. The policy of the Registrant’s Audit Committee is to consider, and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant’s independence.
In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant’s independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant’s independence.
The Registrant’s Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., or other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant.
(2) No percentage of the principal accountant’s fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) For the most recent fiscal year, over 50% of the hours worked under the principal accountant’s engagement were not performed by persons other than full-time, permanent employees of the principal accountant.
(g) Aggregate Non-Audit Fees.
Fiscal Year Ended November 30, 2023: $1,703,928
Fiscal Year Ended November 30, 2022: $5,500,689
Includes fees billed for non-audit services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(h) For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant’s independence.
Item 5: Audit Committee of Listed Registrants.
The Registrant is a listed issuer as defined in rule 10A-3 under the Securities Exchange Act of 1934 (“Exchange Act”). The Registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit committee members are: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.
Item 6: Investments.
Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control during the period covered by this report, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
(a)(1) | Code of Ethics filed herewith. |
(a)(2) | Certifications filed herewith. |
(a)(2) | Certifications filed herewith. |
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.
VANGUARD WELLINGTON FUND | |||
BY: | /s/ MORTIMER J. BUCKLEY* | ||
MORTIMER J. BUCKLEY | |||
CHIEF EXECUTIVE OFFICER |
Date: January 22, 2024
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.
VANGUARD WELLINGTON FUND | |||
BY: | /s/ MORTIMER J. BUCKLEY* | ||
MORTIMER J. BUCKLEY | |||
CHIEF EXECUTIVE OFFICER |
Date: January 22, 2024
VANGUARD WELLINGTON FUND | |||
BY: | /s/ CHRISTINE BUCHANAN* | ||
CHRISTINE BUCHANAN | |||
CHIEF FINANCIAL OFFICER |
Date: January 22, 2024
* By: | /s/ Anne E. Robinson |
Anne E. Robinson, pursuant to a Power of Attorney filed on March 29, 2023 (see File Number 2-11444), Incorporated by Reference.