1
Portfolio
of
Investments
November
30,
2024
NRK
(Unaudited)
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM
INVESTMENTS
-
162.9% (100.0%
of
Total
Investments)  
X
1,712,435,468
MUNICIPAL
BONDS
-
162.9%  (100.0%
of
Total
Investments)
X
–
CONSUMER
STAPLES
-
7.5%
(4.6%
of
Total
Investments)
$
27,580,000
Erie
County
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2005A
5
.000
%
06/01/38
$
26,634,709
9,555,000
Erie
County
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2005A
5
.000
06/01/45
8,819,331
10,000,000
(a)
Erie
County
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2005C
0
.000
06/01/50
1,269,780
4,680,000
New
York
Counties
Tobacco
Trust
VI,
New
York,
Tobacco
Settlement
Pass-Through
Bonds,
Turbo
Term
Series
2016A.
Including
2016A-1,
2016A-2A
and
2016A-2B
5
.000
06/01/45
4,427,445
39,715,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006
5
.000
06/01/48
37,262,690
TOTAL
CONSUMER
STAPLES
78,413,955
EDUCATION
AND
CIVIC
ORGANIZATIONS
-
24.5%
(15.1%
of
Total
Investments)
6,620,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Refunding
Series
2016A
5
.000
07/15/42
6,738,122
9,995,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Series
2009
0
.000
07/15/45
3,992,807
29,145,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Series
2009
0
.000
07/15/47
10,534,242
970,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Classical
Charter
Schools
Series
2023A
4
.500
06/15/43
974,348
850,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Classical
Charter
Schools
Series
2023A
4
.750
06/15/53
853,864
500,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Classical
Charter
Schools
Series
2023A
4
.750
06/15/58
500,829
725,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Global
Community
Charter
School
Project,
Series
2022A
5
.000
06/15/52
726,338
5,000,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
KIPP
New
York
City
Public
School
Facilities,
Canal
West
Project,
Series
2022
5
.250
07/01/57
5,238,457
5,325,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
KIPP
New
York
City
Public
School
Facilities,
Canal
West
Project,
Series
2022
5
.250
07/01/62
5,561,569
1,100,000
(b)
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014
5
.250
11/01/29
671,000
5,705,000
(b)
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014
5
.250
11/01/34
3,480,050
1,500,000
(b)
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014
5
.000
11/01/39
915,000
880,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Success
Academy
Charter
Schools
Project,
Series
2024
4
.000
09/01/43
873,074
1,050,000
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Success
Academy
Charter
Schools
Project,
Series
2024
4
.000
09/01/44
1,035,691
7,510,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1
5
.500
06/01/55
7,179,145
500,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Richmond
Preparatory
Charter
School
Project,
Social
Impact
Project
Series
2021A
5
.000
06/01/41
489,555
2,085,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Richmond
Preparatory
Charter
School
Project,
Social
Impact
Project
Series
2021A
5
.000
06/01/51
1,948,722
750,000
(a)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Richmond
Preparatory
Charter
School
Project,
Social
Impact
Project
Series
2021A
5
.000
06/01/56
691,013
3,655,000
Dobbs
Ferry
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Mercy
College
Project,
Series
2014
5
.000
07/01/44
3,656,000
Portfolio
of
Investments
November
30,
2024
(continued)
NRK
2
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
EDUCATION
AND
CIVIC
ORGANIZATIONS
(continued)
$
4,750,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
American
Musical
and
Dramatic
Academy
Inc.,
Series
2023A
7
.250
%
07/01/53
$
4,916,417
5,055,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Yeshiva
University,
Series
2022A
5
.000
07/15/42
5,246,941
8,655,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Yeshiva
University,
Series
2022A
5
.000
07/15/50
8,851,079
4,265,000
Dormitory
Authority
of
the
State
of
New
York,
Housing
Revenue
Bonds,
Fashion
Institute
of
Technology,
Series
2007
-
FGIC
Insured
5
.250
07/01/34
4,434,168
9,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Fordham
University,
Series
2020
4
.000
07/01/46
9,018,649
4,825,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Icahn
School
of
Medicine
at
Mount
Sinai,
Refunding
Series
2015A
5
.000
07/01/40
4,832,065
8,145,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Icahn
School
of
Medicine
at
Mount
Sinai,
Refunding
Series
2015A
5
.000
07/01/45
8,154,322
2,500,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
School
University,
Series
2015A
5
.000
07/01/45
2,509,006
1,395,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
School
University,
Series
2015A
5
.000
07/01/50
1,398,699
5,820,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
School
University,
Series
2016A
5
.000
07/01/41
5,950,289
4,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
School
University,
Series
2022A
4
.000
07/01/47
3,961,121
4,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University,
Series
2001-1
-
AMBAC
Insured
5
.500
07/01/40
4,790,404
11,175,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University,
Series
2015A
5
.000
07/01/45
11,251,690
2,605,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University,
Series
2016A
4
.000
07/01/43
2,608,560
2,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University,
Series
2019A
5
.000
07/01/37
2,169,933
4,125,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Rockefeller
University,
Green
Series
2019B
5
.000
07/01/50
4,342,637
1,375,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Rockefeller
University,
Series
2020A
5
.000
07/01/53
1,459,487
13,165,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Rockefeller
University,
Series
2022A
4
.000
07/01/42
13,375,232
8,925,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Vaughn
College
of
Aeronautics
&
Technology,
Series
2016A
5
.500
12/01/36
8,445,004
11,470,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Marist
College
Project,
Series
2022
4
.000
07/01/49
10,948,324
7,695,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016C
5
.625
01/01/55
7,244,122
1,500,000
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Current
Interest
Series
2016A
5
.000
01/01/56
1,293,508
1,785,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Adelphi
University
Project,
Series
2013
5
.000
09/01/38
1,786,258
1,785,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Adelphi
University
Project,
Series
2013
5
.000
09/01/43
1,785,829
5,750,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,  University
of
Rochester
Project,
Series
2023A
5
.000
07/01/53
6,243,052
635,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
St.
John
Fisher
University
Project,
Series
2024
5
.250
06/01/49
699,803
8,315,000
MTA
Hudson
Rail
Yards
Trust
Obligations,
New
York,
MTA
Financing
Agreement
Payable
by
the
Metropolitan
Transportation
Authority,
Series
2016A
5
.000
11/15/51
8,327,440
1,220,000
New
Rochelle
Corporation,
New
York,
Local
Development
Revenue
Bonds,
Iona
College
Project,
Series
2015A
5
.000
07/01/40
1,225,885
3
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
EDUCATION
AND
CIVIC
ORGANIZATIONS
(continued)
$
5,335,000
New
York
City
Industrial
Development
Agency,
New
York,
PILOT
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Queens
Baseball
Stadium
Project,
Refunding
Series
2021A
-
AGM
Insured
3
.000
%
01/01/46
$
4,402,540
7,645,000
New
York
City
Industrial
Development
Agency,
New
York,
PILOT
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Yankee
Stadium
Project,
Series
2020A
-
AGM
Insured
4
.000
03/01/45
7,596,320
15,950,000
New
York
City
Industrial
Development
Agency,
New
York,
PILOT
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Yankee
Stadium
Project,
Series
2020A
4
.000
03/01/45
15,664,153
10,000,000
Onondaga
County
Trust
For
Cultural
Resources,
New
York,
Revenue
Bonds,
Syracuse
University
Project,
Series
2019
5
.000
12/01/43
10,701,034
15,805,000
Onondaga
County
Trust
For
Cultural
Resources,
New
York,
Revenue
Bonds,
Syracuse
University
Project,
Series
2019
4
.000
12/01/47
15,873,734
350,000
Yonkers
Economic
Development
Corporation,
New
York,
Educational
Revenue
Bonds,
Lamartine/Warburton
LLC-Charter
School
of
Educational
Excellence
Project,
Series
2019A
5
.000
10/15/39
358,326
TOTAL
EDUCATION
AND
CIVIC
ORGANIZATIONS
257,925,857
FINANCIALS
-
1.8%
(1.1%
of
Total
Investments)
1,615,000
Liberty
Development
Corporation,
New
York,
Goldman
Sachs
Headquarter
Revenue
Bonds,
Series
2005
5
.250
10/01/35
1,885,702
13,835,000
Liberty
Development
Corporation,
New
York,
Goldman
Sachs
Headquarters
Revenue
Bonds
Series
2007
5
.500
10/01/37
16,642,830
TOTAL
FINANCIALS
18,528,532
HEALTH
CARE
-
25.4%
(15.6%
of
Total
Investments)
23,690,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A
4
.000
05/01/45
23,658,855
29,975,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A
4
.250
05/01/52
30,213,781
3,000,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A
5
.000
05/01/52
3,197,084
5,000,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2024A
4
.000
05/01/54
4,780,488
20,340,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2024A
5
.250
05/01/54
22,506,938
25,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Memorial
Sloan
Kettering
Cancer
Center
Series
2022-1A
4
.000
07/01/51
25,058,887
1,000,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Medical
Center,
Series
2024
5
.500
11/01/47
1,103,360
6,750,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Obligated
Group,
Series
2018A
5
.000
08/01/34
7,020,025
3,250,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Obligated
Group,
Series
2020A
5
.000
09/01/33
3,452,718
2,450,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Obligated
Group,
Series
2020A
4
.000
09/01/45
2,342,941
14,365,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
NYU
Langone
Hospitals
Obligated
Group,
Series
2020A
4
.000
07/01/50
14,274,694
21,830,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
NYU
Langone
Hospitals
Obligated
Group,
Series
2020A
4
.000
07/01/53
21,522,036
1,000,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2015
5
.000
12/01/30
1,000,665
1,200,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2015
5
.000
12/01/34
1,190,441
3,500,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2015
5
.000
12/01/40
3,364,201
7,900,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2015
5
.000
12/01/45
7,355,247
1,300,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/25
1,302,662
1,000,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/27
1,007,035
1,900,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/29
1,908,255
2,600,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/30
2,608,321
Portfolio
of
Investments
November
30,
2024
(continued)
NRK
4
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
HEALTH
CARE
(continued)
$
3,500,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
%
12/01/34
$
3,472,120
590,000
(a)
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017
5
.000
12/01/36
580,409
620,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
White
Plains
Hospital,
Series
2024
5
.250
10/01/49
668,079
5,475,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
White
Plains
Hospital,
Series
2024
5
.500
10/01/54
6,141,585
15,405,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B
4
.000
07/01/41
14,923,283
16,705,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B
5
.000
07/01/46
16,872,187
235,000
Livingston
County
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Nicholas
H.
Noyes
Hospital,
Series
2005
6
.000
07/01/30
235,395
3,975,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Rochester
General
Hospital
Project,
Series
2013A
5
.000
12/01/42
3,976,508
8,925,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Rochester
General
Hospital
Project,
Series
2017
5
.000
12/01/46
9,037,272
4,000,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Rochester
Regional
Health
Project,
Series
2020A
4
.000
12/01/46
3,783,727
28,805,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Refunding
Series
2016
5
.000
11/01/46
28,256,314
665,000
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Series
2023
6
.250
11/01/52
760,792
TOTAL
HEALTH
CARE
267,576,305
HOUSING/MULTIFAMILY
-
0.7%
(0.4%
of
Total
Investments)
3,450,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-1-A
4
.750
11/01/54
3,543,535
3,430,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-1-A
4
.850
11/01/59
3,544,182
TOTAL
HOUSING/MULTIFAMILY
7,087,717
INDUSTRIALS
-
3.2%
(1.9%
of
Total
Investments)
31,530,000
(a)
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014
5
.000
11/15/44
31,547,370
2,000,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
7
World
Trade
Center
Project,
Refunding
Green
Series
2022A-CL2
3
.250
09/15/52
1,640,845
120,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
7
World
Trade
Center
Project,
Refunding
Green
Series
2022A-CL2
3
.500
09/15/52
103,106
TOTAL
INDUSTRIALS
33,291,321
LONG-TERM
CARE
-
0.1%
(0.1%
of
Total
Investments)
1,000,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Saint
Anns
Community
Project,
Series
2019
5
.000
01/01/40
984,359
TOTAL
LONG-TERM
CARE
984,359
TAX
OBLIGATION/GENERAL
-
6.9%
(4.2%
of
Total
Investments)
10,000,000
Nassau
County,
New
York,
General
Obligation
Bonds,
General
Improvement
Series
2018B
-
AGM
Insured
5
.000
07/01/45
10,479,717
3,905,000
Nassau
County,
New
York,
General
Obligation
Bonds,
General
Improvement
Series
2021A
-
AGM
Insured
4
.000
04/01/51
3,935,535
5,335,000
Nassau
County,
New
York,
General
Obligation
Bonds,
General
Improvment
Series
2016C
5
.000
04/01/34
5,456,387
5,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2013
Series
F-1
5
.000
03/01/29
5,007
7,560,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2018
Series
B-1
5
.250
10/01/32
8,041,586
5
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
TAX
OBLIGATION/GENERAL
(continued)
$
4,525,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2018
Series
E-1
5
.000
%
03/01/40
$
4,736,445
6,830,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2018
Series
F-1
5
.000
04/01/40
7,156,932
1,500,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2020
Series
A-1
5
.000
08/01/43
1,594,650
5,890,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2020
Series
A-1
4
.000
08/01/44
5,901,936
6,500,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
C
5
.000
08/01/38
7,104,206
5,000,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
F-1
5
.000
03/01/44
5,405,382
6,425,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
C
5
.250
03/01/53
7,140,983
4,344,000
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
4
.000
07/01/41
4,185,540
730,000
Rochester,
New
York,
General
Obligation
Bonds,
Series
1999
-
NPFG
Insured
5
.250
10/01/25
744,975
725,000
Rochester,
New
York,
General
Obligation
Bonds,
Series
1999
-
NPFG
Insured
5
.250
10/01/26
758,924
TOTAL
TAX
OBLIGATION/GENERAL
72,648,205
TAX
OBLIGATION/LIMITED
-
47.8%
(29.3%
of
Total
Investments)
25,000,000
Battery
Park
City
Authority,
New
York,
Revenue
Bonds,
Senior
Sustainability
Series
2023A
5
.000
11/01/48
27,634,700
105,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
School
Districts
Financing
Program,
Series
2009A
-
AGC
Insured
5
.625
10/01/29
105,210
20,910,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2024A
4
.000
03/15/54
20,795,867
13,805,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Bidding
Group
5
Series
2021E
4
.000
03/15/48
13,812,852
9,995,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019A
4
.000
03/15/49
9,960,722
1,960,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2021A
5
.000
03/15/49
2,090,900
12,560,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2015B.
Group
A,B&C
5
.000
03/15/45
12,658,587
1,400,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2017A
Group
C
5
.000
03/15/41
1,443,976
17,510,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2018A
5
.000
03/15/40
18,435,188
10,000,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2018C
4
.000
03/15/45
10,006,599
5,045,000
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D
5
.000
11/15/27
5,113,311
6,490,000
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D
5
.000
11/15/39
6,516,192
1,080,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Green
Fiscal
2022
Series
A
4
.000
02/15/36
1,147,085
6,500,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Green
Fiscal
2022
Series
A
4
.000
02/15/39
6,791,054
1,115,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Second
Indenture
Fiscal
2017
Series
A
5
.000
02/15/34
1,157,832
3,500,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Second
Indenture
Fiscal
2017
Series
A
5
.000
02/15/36
3,627,780
5,285,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Second
Indenture
Fiscal
2017
Series
A
5
.000
02/15/39
5,458,227
13,275,000
Hudson
Yards
Infrastructure
Corporation,
New
York,
Revenue
Bonds,
Second
Indenture
Fiscal
2017
Series
A
5
.000
02/15/45
13,618,955
8,000,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Climate
Bond
Certified,
Green
Series
2017B-1
4
.000
11/15/52
7,896,543
1,520,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Green
Series
2024A
4
.000
11/15/51
1,514,830
Portfolio
of
Investments
November
30,
2024
(continued)
NRK
6
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
TAX
OBLIGATION/LIMITED
(continued)
$
20,000,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Green
Series
2024B-1
4
.000
%
11/15/54
$
19,861,828
10,000,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Series
2022A
4
.000
11/15/42
10,111,018
10,000,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Series
2022A
4
.000
11/15/52
9,953,358
3,675,000
Monroe
County
Industrial
Development
Agency,
New
York,
School
Facility
Revenue
Bonds,
Rochester
Schools
Modernization
Project,
Series
2013
5
.000
05/01/28
3,697,883
5,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
2018,
Series
2017S-3
5
.000
07/15/43
5,265,454
7,945,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
Series
2016S-1
5
.000
07/15/35
8,108,296
7,500,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
Series
2016S-1
4
.000
07/15/40
7,504,070
5,400,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2016
Series
B-1
5
.000
11/01/33
5,486,799
4,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
A-1
5
.000
05/01/40
4,069,277
8,100,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
B-1
4
.000
08/01/41
8,111,942
1,375,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
E-1
5
.000
02/01/39
1,419,887
5,625,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
E-1
5
.000
02/01/43
5,789,627
7,500,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2019
Subseries
C-1
4
.000
11/01/42
7,517,176
8,065,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
B-1
4
.000
08/01/45
8,089,177
21,615,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2023F-1
4
.000
02/01/51
21,426,448
18,000,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024C
5
.250
05/01/48
20,092,000
10,000,000
New
York
City,
New
York,
Educational
Construction
Fund
Revenue
Bonds,
Series
2021B
5
.000
04/01/46
10,717,954
3,960,000
New
York
City,
New
York,
Educational
Construction
Fund
Revenue
Bonds,
Series
2021B
5
.000
04/01/52
4,214,289
1,695,000
New
York
State
Dormitory
Authority,
Personal
Income
Tax
Revenue
Bonds,
Series
2015B
5
.000
02/15/39
1,699,007
21,000,000
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A
4
.125
03/15/52
21,089,496
10,000,000
(c)
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Climate
Certified
Green
Series
2022C,
(UB)
5
.000
03/15/55
10,759,881
7,500,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2020C
5
.000
03/15/47
7,989,879
6,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/46
2,032,710
90,206,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
0
.000
07/01/51
22,405,339
52,180,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
5
.000
07/01/58
52,415,536
3,500,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.329
07/01/40
3,500,030
3,000,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.329
07/01/40
3,000,026
259,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2
4
.536
07/01/53
255,565
5,140,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Green
Bonds,
Series
2022D-2
4
.500
05/15/47
5,315,703
8,425,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Series
2021B-1
4
.000
05/15/56
8,189,746
9,600,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Subseries
2021A-1
5
.000
05/15/51
10,281,348
1,325,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Senior
Lien
Bonds,
Series
2022C
4
.125
05/15/52
1,325,451
7
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
TAX
OBLIGATION/LIMITED
(continued)
$
10,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Senior
Lien
Bonds,
Series
2022C
5
.250
%
05/15/52
$
10,961,372
10,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-
City
Sales
Tax,
Series
2024A-1
4
.000
05/15/54
10,043,989
TOTAL
TAX
OBLIGATION/LIMITED
502,487,971
TRANSPORTATION
-
20.6%
(12.7%
of
Total
Investments)
1,500,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2017A-1
5
.250
11/15/57
1,548,323
7,775,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1
5
.000
11/15/50
8,089,473
19,315,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1
5
.250
11/15/55
20,322,756
11,430,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Refunding
Series
2024A
-
BAM
Insured
5
.250
11/15/49
12,531,253
2,500,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Green
Series
2016B
5
.000
11/15/37
2,555,098
5,000,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2015D-1
5
.000
11/15/35
5,072,673
1,500,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2015F
5
.000
11/15/35
1,521,802
2,500,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2017D
5
.000
11/15/32
2,639,747
5,425,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2015A-1
5
.000
11/15/45
5,441,363
2,440,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2016C-1
5
.000
11/15/39
2,488,579
2,500,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
Secured
by
Port
Authority
Consolidated
Bonds,
Refunding
Series
1WTC-2021
-
BAM
Insured
4
.000
02/15/43
2,503,288
20,780,000
New
York
State
Thruway
Authority,
General
Revenue
Bonds,
Maturity
Group
1
Series
2021O
4
.000
01/01/46
20,837,820
2,280,000
New
York
State
Thruway
Authority,
General
Revenue
Bonds,
Series
2020N
4
.000
01/01/43
2,292,535
5,720,000
New
York
State
Thruway
Authority,
General
Revenue
Bonds,
Series
2020N
4
.000
01/01/45
5,740,265
8,940,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2016A
5
.000
01/01/41
9,067,001
24,690,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2016A
5
.000
01/01/46
25,001,454
485,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2016A
5
.000
01/01/51
490,451
9,330,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2016A
5
.250
01/01/56
9,461,261
9,355,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2019B
4
.000
01/01/50
9,229,983
1,175,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2020C
5
.000
12/01/32
1,279,151
3,750,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2020C
5
.000
12/01/34
4,061,898
3,465,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2020C
4
.000
12/01/39
3,479,733
1,800,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2020C
4
.000
12/01/40
1,801,488
1,515,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Eleventh
Series
2018
4
.000
09/01/43
1,519,394
1,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Eleventh
Series
2018
5
.000
09/01/48
1,040,834
1,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Fifth
Series
2017
5
.000
11/15/47
1,043,050
Portfolio
of
Investments
November
30,
2024
(continued)
NRK
8
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
TRANSPORTATION
(continued)
$
6,000,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirteenth
Series
2019
5
.000
%
09/01/37
$
6,480,696
11,500,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Refunding
Series
2017B
5
.000
11/15/38
11,963,297
7,715,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2018A
5
.000
11/15/43
8,096,444
9,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2019A
5
.000
11/15/49
9,444,688
16,000,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2021A
4
.000
11/15/56
15,857,408
3,610,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2021A
5
.000
11/15/56
3,830,343
TOTAL
TRANSPORTATION
216,733,549
U.S.
GUARANTEED
-
1.2%
(0.7%
of
Total
Investments)
(d)
3,465,000
Dormitory
Authority
of
the
State
of
New
York,
Lease
Revenue
Bonds,
State
University
Dormitory
Facilities,
Series
2015A,
(Pre-
refunded
7/01/25)
5
.000
07/01/33
3,507,701
1,625,000
Dormitory
Authority
of
the
State
of
New
York,
Lease
Revenue
Bonds,
State
University
Dormitory
Facilities,
Series
2017A,
(Pre-
refunded
7/01/27)
5
.000
07/01/46
1,724,588
4,020,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2015E,
(Pre-
refunded
9/15/25)
5
.000
03/15/26
4,089,916
5,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019A,
(Pre-refunded
3/15/29)
4
.000
03/15/49
5,293
1,325,000
Western
Nassau
County
Water
Authority,
New
York,
Water
System
Revenue
Bonds,
Series
2015A,
(Pre-refunded
4/01/25)
5
.000
04/01/40
1,333,836
1,950,000
Western
Nassau
County
Water
Authority,
New
York,
Water
System
Revenue
Bonds,
Series
2015A,
(Pre-refunded
4/01/25)
5
.000
04/01/45
1,963,004
TOTAL
U.S.
GUARANTEED
12,624,338
UTILITIES
-
23.2%
(14.3%
of
Total
Investments)
4,825,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Green
Series
2023E
5
.000
09/01/53
5,247,247
8,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2000A
-
AGM
Insured
0
.000
06/01/25
7,865,989
20,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2000A
-
AGM
Insured
0
.000
06/01/26
19,044,960
10,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2000A
-
AGM
Insured
0
.000
06/01/27
9,220,696
15,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2000A
-
AGM
Insured
0
.000
06/01/28
13,351,983
10,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2000A
-
AGM
Insured
0
.000
06/01/29
8,584,287
520,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2016B
5
.000
09/01/46
530,675
1,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2017
5
.000
09/01/47
1,033,256
5,000,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2018
5
.000
09/01/38
5,309,991
5,000,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2017
Series
DD
5
.000
06/15/47
5,132,460
2,990,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2017
Series
DD
5
.250
06/15/47
3,089,694
5,035,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2018
Series
CC-1
5
.000
06/15/48
5,209,696
4,000,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2018
Series
EE
5
.000
06/15/39
4,057,633
9
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
UTILITIES
(continued)
$
21,815,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2018
Series
EE
5
.000
%
06/15/40
$
22,932,988
1,225,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
DD-3
4
.000
06/15/42
1,239,624
2,000,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
EE
4
.000
06/15/42
2,023,876
3,085,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
GG-1
5
.000
06/15/50
3,274,107
2,500,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2021
Series
AA-2
4
.000
06/15/42
2,532,991
2,925,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2021
Series
CC-1
5
.000
06/15/51
3,131,213
5,000,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2022
Series
AA-1
4
.000
06/15/51
4,973,552
6,855,000
(c)
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2023
Series
AA-1,
(UB)
5
.250
06/15/52
7,563,718
32,000,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2024
Series
BB-2
4
.000
06/15/45
32,223,792
3,710,000
New
York
State
Environmental
Facilities
Corporation,
State
Clean
Water
and
Drinking
Water
Revolving
Funds
Revenue
Bonds,
New
York
City
Municipal
Water
Finance
Authority
Projects,
Second
Resolution
Subordinated
SRF
Series
2015A
5
.000
06/15/40
3,737,907
14,430,000
New
York
State
Environmental
Facilities
Corporation,
State
Clean
Water
and
Drinking
Water
Revolving
Funds
Revenue
Bonds,
New
York
City
Municipal
Water
Finance
Authority
Projects-Second
Resolution
Bonds,
Subordinated
SRF
Series
2017A
5
.000
06/15/46
14,973,608
5,000,000
New
York
State
Environmental
Facilities
Corporation,
State
Revolving
Funds
Revenue
Bonds,
2010
Master
Financing
Program,
Green
Series
2019A
5
.000
02/15/49
5,294,582
3,000,000
New
York
State
Environmental
Facilities
Corporation,
State
Revolving
Funds
Revenue
Bonds,
Green
Series
2022B
5
.250
09/15/52
3,325,958
11,440,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Series
2020A
4
.000
11/15/50
11,397,923
9,000,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Series
2020A
4
.000
11/15/55
8,889,726
2,955,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Series
2020A
4
.000
11/15/60
2,899,696
9,085,000
New
York
State
Power
Authority,
Green
Transmission
Project
Revenue
Bonds,
Green
Series
2023A
-
AGM
Insured
5
.000
11/15/53
9,921,883
3,190,000
(a)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A
5
.000
07/01/47
3,290,406
3,205,000
(a)
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
5
.000
07/01/37
3,359,987
810,000
Utility
Debt
Securitization
Authority,
New
York,
Restructuring
Bonds,
Refunding
Series
2015
5
.000
12/15/33
824,312
5,000,000
Utility
Debt
Securitization
Authority,
New
York,
Restructuring
Bonds,
Refunding
Series
2015
5
.000
12/15/36
5,079,650
2,450,000
Utility
Debt
Securitization
Authority,
New
York,
Restructuring
Bonds,
Series
2016B
5
.000
12/15/34
2,514,888
Portfolio
of
Investments
November
30,
2024
(continued)
NRK
10
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
PRINCIPAL
DESCRIPTION  
RATE
MATURITY
VALUE
UTILITIES
(continued)
$
1,000,000
Utility
Debt
Securitization
Authority,
New
York,
Restructuring
Bonds,
Series
2017
5
.000
%
12/15/38
$
1,048,405
TOTAL
UTILITIES
244,133,359
TOTAL
MUNICIPAL
BONDS
(Cost
$1,648,900,427)
1,712,435,468
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$1,648,900,427)
1,712,435,468
FLOATING
RATE
OBLIGATIONS
-
(1.3)%  
(
13,480,000
)
MFP
SHARES,
NET
-
(7.6)%
(e)
(
79,621,910
)
VRDP
SHARES,
NET
-
(55.4)%
(f)
(
582,300,821
)
OTHER
ASSETS
&
LIABILITIES,
NET
-
1.4%
13,915,548
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
-
100%
$
1,050,948,285
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
1,712,435,468
$
–
$
1,712,435,468
Total
$
–
$
1,712,435,468
$
–
$
1,712,435,468
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(a)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$86,926,755
or
5.1%
of
Total
Investments.
(b)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(c)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(d)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(e)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
4.6%.
(f)
VRDP
Shares,
Net
as
a
percentage
of
Total
Investments
is
34.0%.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
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