Security Description CUSIP

(1)

FEDERATED TAX-FREE OBLIGATIONS FUND

Portfolio as of September 15, 2015

Current Net Assets -- $ 6,344,271,240

Weighted Average Maturity: 42 Days

Weighted Average Life: 42 Days

Credit Rating:

Aaa-mf MOODY'S

AAAmmf FITCH

Principal Amount (1) _{Security Description} _CUSIP

Amortized Cost Value (2) Effective Maturity (3) Final

Maturity Rule 2a-7 Category of Investment

MUNICIPALS - 100.1% Alabama - 4.6%

$ 6,000,000 Alabama HFA Multi-Family Housing (Double Lake Ventures LLC) , (2000 Series A:Turtle Lake) Weekly VRDNs,(Federal National Mortgage Association LOC), 0.030%

01030PDD5 $ 6,000,000 9/22/2015 2/15/2030 Variable Rate Demand Note $ 4,000,000 (4)(5) _{Alabama Special Care Facilities Financing Authority of Birmingham (Ascension Health Alliance Senior Credit}

Group) , Solar Eclipse (Series 2007-0046) Weekly VRDNs,(U.S. Bank, N.A. LIQ)/(U.S. Bank, N.A. LOC), 0.020%

27884FTT7 $ 4,000,000 9/22/2015 11/15/2036 Variable Rate Demand Note

$ 8,000,000 (4)(5) _{Birmingham, AL Waterworks & Sewer Board, Floater Certificates (Series 2008-2707) Weekly VRDNs,(INS by} Berkshire Hathaway Assurance Corp.)/(Morgan Stanley Bank, N.A. LIQ), 0.030%

091089KY7 $ 8,000,000 9/22/2015 1/1/2043 Variable Rate Demand Note

$ 27,000,000 Columbia, AL IDB PCRB (Alabama Power Co.) , (Series 2014-B) Daily VRDNs, 0.050% 197210AX5 $ 27,000,000 9/16/2015 12/1/2037 Variable Rate Demand Note $ 10,000,000 Columbia, AL IDB PCRB (Alabama Power Co.) , (Series 2014-D) Weekly VRDNs, 0.060% 197210AY3 $ 10,000,000 9/22/2015 12/1/2037 Variable Rate Demand Note $ 28,000,000 Mobile County, AL IDA Gulf Opportunity Zone (SSAB Alabama, Inc.) , (Series 2011) Weekly VRDNs,(Credit

Agricole Corporate and Investment Bank LOC), 0.040%

60733RAB4 $ 28,000,000 9/22/2015 11/1/2031 Variable Rate Demand Note $ 35,000,000 Mobile, AL IDB (Alabama Power Co.) , (First Series 2009: Barry Plant) Daily VRDNs, 0.050% 607167DY6 $ 35,000,000 9/16/2015 6/1/2034 Variable Rate Demand Note $ 12,000,000 Mobile, AL IDB (Alabama Power Co.) , PCR (Series 1993B) Weekly VRDNs, 0.060% 607167DF7 $ 12,000,000 9/22/2015 8/1/2017 Variable Rate Demand Note $ 11,500,000 Mobile, AL IDB (Alabama Power Co.) , PCR Bonds (Series 2007C) Weekly VRDNs, 0.070% 607167DW0 $ 11,500,000 9/22/2015 6/1/2034 Variable Rate Demand Note $ 17,500,000 Mobile, AL IDB, PCR (Series 2008: Gulf Opportunity Zone Bond) , TOBs , (Alabama Power Co.) , 0.320% 607167DX8 $ 17,500,000 10/1/2015 10/1/2015 Other Municipal Debt $ 29,100,000 Tuscaloosa County, AL IDA (Hunt Refining Co.) , (Series 2008A: Gulf Opportunity Zone Bonds) Weekly

VRDNs,(Citibank NA, New York LOC), 0.020%

90068FAA4 $ 29,100,000 9/22/2015 3/1/2027 Variable Rate Demand Note $ 10,000,000 Tuscaloosa County, AL IDA (Hunt Refining Co.) , (Series 2008C: Gulf Opportunity Zone Bonds) Weekly

VRDNs,(Bank of Nova Scotia, Toronto LOC), 0.020%

90068FAD8 $ 10,000,000 9/22/2015 12/1/2027 Variable Rate Demand Note $ 25,000,000 Tuscaloosa County, AL IDA (Hunt Refining Co.) , (Series 2011A: Gulf Opportunity Zone Bonds) Weekly

VRDNs,(Sumitomo Mitsui Banking Corp. LOC), 0.020%

90068FAJ5 $ 25,000,000 9/22/2015 6/1/2028 Variable Rate Demand Note $ 40,000,000 Tuscaloosa County, AL IDA (Hunt Refining Co.) , (Series 2011J: Gulf Opportunity Zone Bonds) Weekly

90068FAN6 $ 40,000,000 9/22/2015 4/1/2028 Variable Rate Demand Note $ 10,000,000 Tuscaloosa County, AL IDA (Hunt Refining Co.) , (Series 2011K: Gulf Opportunity Zone Bonds) Weekly

90068FAP1 $ 10,000,000 9/22/2015 4/1/2028 Variable Rate Demand Note $ 11,800,000 Tuscaloosa County, AL Port Authority (Tuscaloosa Riverfront Development, LLC) , (Series 2007: Gulf

Opportunity Zone Bonds) Weekly VRDNs,(Federal Home Loan Bank of Atlanta LOC), 0.060%

900595AY5 $ 11,800,000 9/22/2015 5/1/2030 Variable Rate Demand Note

$ 5,410,000 (4)(5) _{University of South Alabama, Solar Eclipse (Series 2007-0023) Weekly VRDNs,(U.S. Bank, N.A. LIQ)/(U.S. Bank,} N.A. LOC), 0.030%

27884FRG7 $ 5,410,000 9/22/2015 12/1/2036 Variable Rate Demand Note $ 2,675,000 Washington County, AL Industrial Development Authority (Bay Gas Storage Company, Ltd.) , (Series 2007: Gulf

Opportunity Zone Bonds) Weekly VRDNs,(UBS AG LOC), 0.010%

(2)

Principal Amount (1) Security Description CUSIP Amortized Cost Value Effective Maturity Final

TOTAL $ 292,985,000

Alaska - 1.7%

$ 5,015,000 Alaska State Housing Finance Corp., (2009 Series D) Weekly VRDNs,(Bank of America N.A. LIQ), 0.010% 01170PEY8 $ 5,015,000 9/22/2015 12/1/2040 Variable Rate Demand Note $ 30,000,000 Alaska State Housing Finance Corp., (Series 2007A) Weekly VRDNs,(Landesbank Baden-Wurttemberg LIQ),

0.060%

01170PBW5 $ 30,000,000 9/22/2015 12/1/2041 Variable Rate Demand Note $ 50,000,000 Alaska State Housing Finance Corp., Home Mortgage Revenue Bonds (Series 2007D) Weekly

VRDNs,(Landesbank Baden-Wurttemberg LIQ), 0.060%

01170PBX3 $ 50,000,000 9/22/2015 12/1/2041 Variable Rate Demand Note $ 24,590,000 (4)(5) _{Anchorage, AK Wastewater Revenue, (Solar Eclipse 2007-0097) Weekly VRDNs,(U.S. Bank, N.A. LIQ)/(U.S.}

Bank, N.A. LOC), 0.030%

27884FXZ8 $ 24,590,000 9/22/2015 12/1/2016 Variable Rate Demand Note

TOTAL $ 109,605,000

Arizona - 1.7%

$ 4,000,000 Maricopa County, AZ, IDA Solid Waste Disposal (DC Paloma 2 LLC) , (Series 2009) Weekly VRDNs,(CoBank, ACB LOC), 0.020%

56682FAM5 $ 4,000,000 9/22/2015 3/1/2036 Variable Rate Demand Note $ 40,000,000 Phoenix, AZ IDA (Mayo Clinic) , (Series 2014A) Daily VRDNs,(Bank of America N.A. LIQ), 0.010% 71884SAA8 $ 40,000,000 9/16/2015 11/15/2052 Variable Rate Demand Note $ 5,000,000 Phoenix, AZ IDA (Mayo Clinic) , (Series 2014B) Daily VRDNs,(Wells Fargo Bank, N.A. LIQ), 0.010% 71884SAC4 $ 5,000,000 9/16/2015 11/15/2052 Variable Rate Demand Note $ 21,785,000 Salt River Pima-Maricopa, AZ Indian Community, (Series 2006) Weekly VRDNs,(Bank of America N.A. LOC),

0.020%

795738AB9 $ 21,785,000 9/22/2015 10/1/2026 Variable Rate Demand Note $ 7,845,000 (4)(5) _{Salt River Project, AZ Agricultural Improvement & Power District, Floater Certificates (Series 2008-3284)}

Weekly VRDNs,(Morgan Stanley Bank, N.A. LIQ), 0.030%

79575DQ29 $ 7,845,000 9/22/2015 12/1/2024 Variable Rate Demand Note $ 28,500,000 Yavapai County, AZ IDA - Recovery Zone Facility (Skanon Investments, Inc.) , (Series 2010: Drake Cement

Project) Weekly VRDNs,(Citibank NA, New York LOC), 0.040%

98521YAA7 $ 28,500,000 9/22/2015 9/1/2035 Variable Rate Demand Note

TOTAL $ 107,130,000

California - 5.4%

$ 15,450,000 (4)(5) _{Bay Area Toll Authority, CA, Tender Option Bond Trust Certificates (2015-XF1044) Weekly VRDNs,(Deutsche} Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.110%

88033MBX4 $ 15,450,000 9/22/2015 10/1/2054 Variable Rate Demand Note $ 20,050,000 California State , BONDs , 2.000% 13063CME7 $ 20,065,138 10/1/2015 10/1/2015 Other Municipal Debt $ 7,500,000 (4)(5) _{California State, Tender Option Bond Trust Certificates (2015-XF1037) Weekly VRDNs,(Deutsche Bank AG}

LIQ)/(GTD by Deutsche Bank AG), 0.110%

88033L6Q7 $ 7,500,000 9/22/2015 8/1/2035 Variable Rate Demand Note $ 26,125,000 (4)(5) _{California State, Tender Option Bond Trust Certificates (2015-XF1039) Weekly VRDNs,(Deutsche Bank AG}

88033LX61 $ 26,125,000 9/22/2015 10/1/2044 Variable Rate Demand Note $ 12,290,000 California Statewide Communities Development Authority, (Series 2004E) , CP, (Kaiser Permanente) , 0.140% 13080M2Q9 $ 12,290,000 2/4/2016 2/4/2016 Other Municipal Debt $ 19,045,000 California Statewide Communities Development Authority, (Series 2004E) , CP, (Kaiser Permanente) , 0.210% 13080M2M8 $ 19,045,000 1/7/2016 1/7/2016 Other Municipal Debt $ 16,700,000 California Statewide Communities Development Authority, (Series 2004I) , CP, (Kaiser Permanente) , 0.070% 13080Q2M9 $ 16,700,000 12/2/2015 12/2/2015 Other Municipal Debt $ 30,800,000 California Statewide Communities Development Authority, (Series 2004I) , CP, (Kaiser Permanente) , 0.140% 13080Q2N7 $ 30,800,000 2/4/2016 2/4/2016 Other Municipal Debt $ 8,750,000 California Statewide Communities Development Authority, (Series 2009 B-6) , CP, (Kaiser Permanente) ,

0.210%

13080HCQ9 $ 8,750,000 1/6/2016 1/6/2016 Other Municipal Debt $ 42,490,000 (4)(5) _{Golden State Tobacco Securitization Corp., CA (California State) , Spears (Series DBE-290) Weekly}

VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.110%

25154CMH4 $ 42,490,000 9/22/2015 6/1/2028 Variable Rate Demand Note $ 40,000,000 (4)(5) _{Golden State Tobacco Securitization Corp., CA (California State) , Tender Option Bond Trust Certificates}

(2015-XF1038) Weekly VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.160%

88033L6V6 $ 40,000,000 9/22/2015 6/1/2045 Variable Rate Demand Note

$ 21,500,000 (4)(5) _{Nuveen California AMT-Free Municipal Income Fund, (Series 4) Weekly VRDPs,(Citibank NA, New York LIQ),} 0.080%

(3)

$ 8,900,000 (4)(5) _{Nuveen California AMT-Free Municipal Income Fund, [Series 2] Weekly VRDPs,(Deutsche Bank Trust Co.} Americas LIQ), 0.130%

670651405 $ 8,900,000 9/22/2015 6/1/2040 Variable Rate Demand Note $ 7,735,000 (4)(5) _{San Francisco, CA City & County Airport Commission, Tender Option Bond Trust Certificates (2015-XF1032)}

Weekly VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.110%

88033L3W7 $ 7,735,000 9/22/2015 5/1/2044 Variable Rate Demand Note $ 47,975,000 (4)(5) _{San Mateo County, CA Community College District, (DB-474) Weekly VRDNs,(Deutsche Bank AG LIQ), 0.110%} _25154LHR8 _{$ 47,975,000 9/22/2015} _9/1/2036 _{Variable Rate Demand Note} $ 15,390,000 (4)(5) _{San Mateo County, CA Community College District, Spears (Series DB-631) Weekly VRDNs,(Deutsche Bank AG}

LIQ), 0.090%

25154LS54 $ 15,390,000 9/22/2015 9/1/2027 Variable Rate Demand Note

TOTAL $ 340,715,138

Colorado - 1.9%

$ 22,900,000 (4)(5) _{Colorado Health Facilities Authority (Catholic Health Initiatives) , (Series 2015-7WE) Weekly VRDNs,(Barclays} Bank plc LIQ)/(Barclays Bank plc LOC), 0.170%

76252PFP9 $ 22,900,000 9/22/2015 8/1/2018 Variable Rate Demand Note $ 16,695,000 (4)(5) _{Denver, CO City & County Airport Authority, Spears (Series DBE-493) Weekly VRDNs,(Deutsche Bank AG}

25154LKM5 $ 16,695,000 9/22/2015 11/15/2032 Variable Rate Demand Note $ 31,220,000 University of Colorado Hospital Authority, (Series 2015A) VRENs, 0.200% 914183AV0 $ 31,220,000 4/12/2016 11/15/2046 Variable Rate Demand Note $ 36,765,000 University of Colorado Hospital Authority, (Series 2015B) VRENs, 0.200% 914183AW8 $ 36,765,000 4/12/2016 11/15/2039 Variable Rate Demand Note $ 12,975,000 University of Colorado Hospital Authority, (Series 2015C) VRENs, 0.200% 914183AX6 $ 12,975,000 4/12/2016 11/15/2024 Variable Rate Demand Note

TOTAL $ 120,555,000

Connecticut - 0.1%

$ 3,815,000 Connecticut State HFA (CIL Realty) , (Series 2010( Weekly VRDNs,(HSBC Bank USA, N.A. LOC), 0.020% 20774WD99 $ 3,815,000 9/22/2015 7/1/2040 Variable Rate Demand Note $ 4,000,000 Connecticut State HFA, (Subseries C-3) Weekly VRDNs,(Royal Bank of Canada, Montreal LIQ), 0.010% 20775B8C3 $ 4,000,000 9/22/2015 11/15/2045 Variable Rate Demand Note

TOTAL $ 7,815,000

District Of Columbia - 1.5%

$ 33,250,000 District of Columbia (Carnegie Endowment for International Peace) , (Series 2006) Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.010%

25483VAE4 $ 33,250,000 9/22/2015 11/1/2045 Variable Rate Demand Note $ 4,375,000 District of Columbia Revenue (Washington Center for Internships & Academic Seminars) , (Series 2006) Weekly

VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

254839L27 $ 4,375,000 9/22/2015 7/1/2036 Variable Rate Demand Note $ 11,920,000 District of Columbia Revenue (Washington Center for Internships & Academic Seminars) , (Series 2009) Weekly

VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

2548394W0 $ 11,920,000 9/22/2015 2/1/2048 Variable Rate Demand Note $ 3,265,000 District of Columbia Revenue (Young Men's Christian Association of Metropolitan Washington) , (Series 1999)

Weekly VRDNs,(Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.070%

254839UG6 $ 3,265,000 9/22/2015 5/1/2024 Variable Rate Demand Note

$ 12,575,000 (4)(5) _{District of Columbia Water & Sewer Authority, Solar Eclipse (Series 2007-0056) Weekly VRDNs,(U.S. Bank, N.A.} LIQ)/(U.S. Bank, N.A. LOC), 0.030%

27884FUK4 $ 12,575,000 9/22/2015 10/1/2036 Variable Rate Demand Note $ 26,665,000 (4)(5) _{Washington, DC Convention Center Authority, Floater Certificates (Series 2006-1606) Weekly VRDNs,(Credit}

Suisse AG LIQ)/(INS by Berkshire Hathaway Assurance Corp.), 0.020%

93877MCE4 $ 26,665,000 9/22/2015 10/1/2030 Variable Rate Demand Note

TOTAL $ 92,050,000

Florida - 10.9%

$ 16,980,000 (4)(5) _{Central Florida Expressway Authority, Barclays Floater Certificates (Series 2015-3EW) Weekly VRDNs,(Barclays} Bank plc LIQ)/(Barclays Bank plc LOC), 0.150%

76252PFC8 $ 16,980,000 9/22/2015 5/1/2018 Variable Rate Demand Note $ 28,375,000 (4)(5) _{Clipper Tax-Exempt Certificates Trust (Florida Non-AMT) Series 2009-55 Weekly VRDNs,(State Street Bank and}

Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.050%

18886PXB6 $ 28,375,000 9/22/2015 1/1/2018 Variable Rate Demand Note $ 18,000,000 (4)(5) _{Clipper Tax-Exempt Certificates Trust (Florida Non-AMT) Series 2009-83 Weekly VRDNs,(State Street Bank and}

Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.020%

(4)

$ 7,750,000 Florida HFA (Woodlands Apartments) , (Series 1985-SS) Weekly VRDNs,(Northern Trust Co., Chicago, IL LOC), 0.020%

340737G25 $ 7,750,000 9/22/2015 12/1/2022 Variable Rate Demand Note $ 16,140,000 (4)(5) _{Florida State Board of Education, P-Floats (Series PZ-198) , TOBs , (Florida State) ,(Wells Fargo Bank, N.A. LIQ),}

0.030%

341535U67 $ 16,140,000 10/22/2015 6/1/2032 Other Municipal Debt $ 58,505,000 Florida State Municipal Power Agency, (Series 2008C) Daily VRDNs,(Bank of America N.A. LOC), 0.010% 342816WW1 $ 58,505,000 9/16/2015 10/1/2035 Variable Rate Demand Note $ 70,190,000 JEA, FL Water & Sewer System, (2008 Series B: Senior Revenue Bonds) Weekly VRDNs,(JPMorgan Chase Bank,

N.A. LIQ), 0.010%

46613PWA0 $ 70,190,000 9/22/2015 10/1/2041 Variable Rate Demand Note $ 64,000,000 Jacksonville, FL (Jacksonville, FL Transportation Authority) , Transportation Revenue Bonds (Series 2008A)

Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

469495BS3 $ 64,000,000 9/22/2015 10/1/2032 Variable Rate Demand Note $ 5,975,000 Jacksonville, FL HFDC (University of Florida Jacksonville Physicians, Inc.) , (Series 2002) Weekly VRDNs,(Bank of

America N.A. LOC), 0.020%

469402ES6 $ 5,975,000 9/22/2015 6/1/2022 Variable Rate Demand Note $ 16,500,000 Manatee County, FL (Florida Power & Light Co.) , Pollution Control Revenue Refunding Bonds (Series 1994)

Daily VRDNs, 0.010%

561845AC2 $ 16,500,000 9/16/2015 9/1/2024 Variable Rate Demand Note $ 17,000,000 (4)(5) _{Miami-Dade County, FL, RBC 3A-7 (Series E-64) , TOBs ,(Royal Bank of Canada, Montreal LIQ)/(Royal Bank of}

Canada, Montreal LOC), 0.110%

74926YS36 $ 17,000,000 10/1/2015 10/1/2015 Other Municipal Debt $ 4,150,000 (4)(5) _{Miami-Dade County, FL, RBC 3A-7 (Series E-66) , TOBs ,(Royal Bank of Canada, Montreal LIQ)/(Royal Bank of}

Canada, Montreal LOC), 0.110%

74926YS93 $ 4,150,000 11/2/2015 11/2/2015 Other Municipal Debt $ 10,600,000 North Broward Florida Hospital District, (Series 2007) Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.020% 657883CN2 $ 10,600,000 9/22/2015 1/15/2027 Variable Rate Demand Note $ 15,585,000 Orange County, FL School Board, Certificates of Participation (Series 2008C) Weekly VRDNs,(Bank of America

N.A. LOC), 0.020%

684517MH5 $ 15,585,000 9/22/2015 8/1/2025 Variable Rate Demand Note $ 11,715,000 (4)(5) _{Orange County, FL, Health Facilities Authority (Orlando Health, Inc.) , Spears (Series DBE-1071) Weekly}

VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.170%

25155DJW2 $ 11,715,000 9/22/2015 10/1/2042 Variable Rate Demand Note $ 77,350,000 (4)(5) _{Orlando & Orange County Expressway Authority, FL, Eagles (Series 2007-0081) Weekly VRDNs,(Citibank NA,}

New York LIQ)/(INS by Berkshire Hathaway Assurance Corp.), 0.040%

686543NZ8 $ 77,350,000 9/22/2015 7/1/2042 Variable Rate Demand Note 22,600,000

$ (4)(5) _{Orlando & Orange County Expressway Authority, FL, Eagles (Series 2007-0145) Weekly VRDNs,(Citibank NA,} New York LIQ)/(INS by Berkshire Hathaway Assurance Corp.), 0.030%

686543PH6 $ 22,600,000 9/22/2015 7/1/2042 Variable Rate Demand Note 36,400,000

$ (4)(5) _{Orlando & Orange County Expressway Authority, FL, Eagles 3a-7 (Series 2014-0038) Weekly VRDNs,(Citibank} NA, New York LIQ)/(INS by Berkshire Hathaway Assurance Corp.), 0.050%

686543UX5 $ 36,400,000 9/22/2015 7/1/2037 Variable Rate Demand Note 20,000,000

$ (4)(5) _{Orlando & Orange County Expressway Authority, FL, RBC 3A-7 (Series E-62) , TOBs , (Central Florida} Expressway Authority) ,(Royal Bank of Canada, Montreal LIQ)/(Royal Bank of Canada, Montreal LOC), 0.110%

74926YS69 $ 20,000,000 11/2/2015 11/2/2015 Other Municipal Debt

15,535,000

$ (4)(5) _{Orlando, FL Contract Tourist Development (Orlando, FL) , Tender Option Bond Trust Receipts (2015-XM0006)} Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.030%

88033LSM2 $ 15,535,000 9/22/2015 5/1/2022 Variable Rate Demand Note 16,500,000

$ Polk County, FL IDA (Baycare Health System) , (Series 2014A-2) VRENs, 0.220% 73112FAA6 $ 16,500,000 4/12/2016 11/15/2044 Variable Rate Demand Note 125,000,000

$ St. Lucie County, FL PCRB (Florida Power & Light Co.) , (Series 2000) Daily VRDNs, 0.020% 792070BH6 $ 125,000,000 9/16/2015 9/1/2028 Variable Rate Demand Note 7,500,000

$ Sunshine State Governmental Finance Commission, FL, Callable Tax-Exempt Notes (Series H) , CP, (Orlando, FL) ,(JPMorgan Chase Bank, N.A. LIQ), 0.080%

86802SAH0 $ 7,500,000 12/11/2015 12/11/2015 Other Municipal Debt 10,000,000

$ Tampa, FL (Baycare Health System) , Health System Revenue Bonds (Series 2012B) VRENs, 0.220% 87515EAW4 $ 10,000,000 4/12/2016 11/15/2033 Variable Rate Demand Note

TOTAL $ 692,350,000

Georgia - 3.6% 28,965,000

$ (4)(5) _{Atlanta, GA Water & Wastewater, Tender Option Bond Trust Certificates (2015-XF0234) Weekly VRDNs,(State} Street Bank and Trust Co. LIQ), 0.050%

88033LP94 $ 28,965,000 9/22/2015 3/1/2023 Variable Rate Demand Note 7,400,000

$ Cobb County, GA Housing Authority (Highland Ridge Partners LP) , (Series 2008) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.030%

190901DE5 $ 7,400,000 9/22/2015 7/1/2041 Variable Rate Demand Note 10,000,000

$ Columbus, GA Development Authority (Lumpkin Park Partners, Ltd.) , (Series 2008) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.080%

19912HEM7 $ 10,000,000 9/22/2015 3/1/2043 Variable Rate Demand Note 54,500,000

(5)

52,835,000

$ Fulton County, GA Development Authority (Children's Healthcare of Atlanta, Inc.) , (Series 2008) Weekly VRDNs,(Landesbank Hessen-Thuringen LIQ), 0.030%

359900UM7 $ 52,835,000 9/22/2015 7/1/2042 Variable Rate Demand Note 985,000

$ Glynn-Brunswick, GA Hospital Authority (Southeast Georgia Health System, Inc.) , (Series 2008) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

380037FL0 $ 985,000 9/22/2015 8/1/2038 Variable Rate Demand Note 35,000,000

$ Main Street Gas, Inc., GA, (Series 2010 A1) , TOBs ,(Royal Bank of Canada, Montreal LOC), 0.080% 56036YEL5 $ 35,000,000 10/1/2015 8/1/2040 Other Municipal Debt 24,865,000

$ Main Street Gas, Inc., GA, (Series 2010 A2) , TOBs ,(Royal Bank of Canada, Montreal LOC), 0.080% 56036YEM3 $ 24,865,000 12/1/2015 12/1/2015 Other Municipal Debt 2,170,000

$ (4)(5) _{Private Colleges & Universities Facilities of GA (Emory University) , Floater Certificates (Series 2008-3068X)} Weekly VRDNs,(Morgan Stanley Bank, N.A. LIQ), 0.030%

74265LVS4 $ 2,170,000 9/22/2015 9/1/2038 Variable Rate Demand Note 11,100,000

$ Roswell, GA Housing Authority (Belcourt Ltd.) , Multifamily Housing Refunding Revenue Bonds (Series 1988A) Weekly VRDNs,(Northern Trust Co., Chicago, IL LOC), 0.020%

778542AK6 $ 11,100,000 9/22/2015 9/1/2027 Variable Rate Demand Note

TOTAL $ 228,053,721

Hawaii - 0.2% 10,500,000

$ Hawaii State Department of Budget & Finance (Queen's Health Systems) , (2015 Series C) VRENs, 0.260% 419800LP0 $ 10,500,000 4/12/2016 7/1/2039 Variable Rate Demand Note

TOTAL $ 10,500,000

Idaho - 0.2% 11,435,000

$ Idaho Health Facilities Authority, (Series 2013ID) , TOBs , (Trinity Healthcare Credit Group) , 0.070% 45129UCB8 $ 11,435,000 12/1/2015 12/1/2048 Other Municipal Debt

TOTAL $ 11,435,000

Illinois - 6.9% 12,410,000

$ Aurora, Kane, DuPage, Will and Kendall Counties, IL (Covey at Fox Valley Apartments) , (Series 2006) Weekly VRDNs,(Federal National Mortgage Association LOC), 0.020%

051655CT3 $ 12,410,000 9/22/2015 10/15/2027 Variable Rate Demand Note 26,755,000

$ Canton, IL (Graham Hospital Association) , (Series 2009) Weekly VRDNs,(BMO Harris Bank, N.A. LOC), 0.040% 138206AA5 $ 26,755,000 9/22/2015 6/1/2034 Variable Rate Demand Note 1,880,000

$ Chicago, IL Midway Airport, Second Lien Revenue Bonds (Series 2004D) Weekly VRDNs,(Bank of Montreal LOC), 0.030%

167562JW8 $ 1,880,000 9/22/2015 1/1/2035 Variable Rate Demand Note 600,000

$ Chicago, IL Multi-Family Housing Revenue (Churchview Manor Senior Apartments) , (Series 2012) Weekly VRDNs,(BMO Harris Bank, N.A. LOC), 0.220%

167570TJ9 $ 600,000 9/22/2015 2/1/2031 Variable Rate Demand Note 15,060,000

$ (4)(5) _{Chicago, IL O'Hare International Airport, Spears (Series DBE-534) Weekly VRDNs,(Deutsche Bank AG LIQ)/(GTD} by Deutsche Bank AG), 0.140%

25154LQZ0 $ 15,060,000 9/22/2015 1/1/2022 Variable Rate Demand Note 28,000,000

$ (4)(5) _{Chicago, IL Transit Authority, Tender Option Bond Trust Certificates (2015-XF0232) Weekly VRDNs,(INS by} Assured Guaranty Municipal Corp.)/(State Street Bank and Trust Co. LIQ), 0.050%

88033LP29 $ 28,000,000 9/22/2015 9/1/2022 Variable Rate Demand Note

18,735,000

$ Cook County, IL (Catholic Theological Union) , (Series 2005) Weekly VRDNs,(U.S. Bank, N.A. LOC), 0.020% 213247BX6 $ 18,735,000 9/22/2015 2/1/2035 Variable Rate Demand Note 15,400,000

$ Galesburg, IL (Knox College) , (Series 1996) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020% 363433AQ6 $ 15,400,000 9/22/2015 3/1/2031 Variable Rate Demand Note 18,000,000

$ Illinois Development Finance Authority (Chicago Horticultural Society) , (Series 1999) Weekly VRDNs,(Northern Trust Co., Chicago, IL LOC), 0.030%

45188RLN7 $ 18,000,000 9/22/2015 1/1/2029 Variable Rate Demand Note 6,500,000

$ Illinois Development Finance Authority (St. Ignatius College Prep.) , (Series 2002) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.030%

45188RQ44 $ 6,500,000 9/22/2015 6/1/2032 Variable Rate Demand Note 33,200,000

$ Illinois Development Finance Authority IDB (Lyric Opera of Chicago) Weekly VRDNs,(BMO Harris Bank, N.A. LOC)/(JPMorgan Chase Bank, N.A. LOC)/(Northern Trust Co., Chicago, IL LOC), 0.010%

451908PR2 $ 33,200,000 9/22/2015 12/1/2028 Variable Rate Demand Note

126,900,000

$ Illinois Finance Authority (Advocate Health Care Network) , (Series 2008C-1) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

45200FFQ7 $ 126,900,000 9/22/2015 11/1/2038 Variable Rate Demand Note 29,230,000

$ Illinois Finance Authority (Advocate Health Care Network) , (Series 2008C-2A) Weekly VRDNs,(Wells Fargo Bank, N.A. LIQ), 0.010%

(6)

17,525,000

$ Illinois Finance Authority (Advocate Health Care Network) , (Series 2008C-2B) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

45200FFS3 $ 17,525,000 9/22/2015 11/1/2038 Variable Rate Demand Note 11,500,000

$ Illinois Finance Authority (Advocate Health Care Network) , Revenue Bonds (Series 2011B) VRENs, 0.220% 45203HCA8 $ 11,500,000 4/12/2016 4/1/2051 Variable Rate Demand Note 950,000

$ Illinois Finance Authority (Carle Foundation) , (Series 2009C) Weekly VRDNs,(Northern Trust Co., Chicago, IL LOC), 0.020%

45200FVG1 $ 950,000 9/22/2015 2/15/2033 Variable Rate Demand Note 900,000

$ Illinois Finance Authority (Clearbrook Corp.) , (Series 2008) Weekly VRDNs,(BMO Harris Bank, N.A. LOC), 0.090%

45200FNZ8 $ 900,000 9/22/2015 9/1/2033 Variable Rate Demand Note 29,700,000

$ Illinois Finance Authority (Erikson Institute) , (Series 2007) Weekly VRDNs,(Bank of America N.A. LOC), 0.030% 452029AA9 $ 29,700,000 9/22/2015 11/1/2037 Variable Rate Demand Note 6,075,000

$ Illinois Finance Authority (Illinois Wesleyan University) , (Series 2008) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020%

45200FLF4 $ 6,075,000 9/22/2015 9/1/2023 Variable Rate Demand Note 5,700,000

$ Illinois Finance Authority (Illinois Wesleyan University) , (Series 2012) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020%

45203HHP0 $ 5,700,000 9/22/2015 11/1/2042 Variable Rate Demand Note 10,200,000

$ (4)(5) _{Illinois Finance Authority (University of Chicago) , Tender Option Bond Trust Certificates (Series 2015-XF2160)} Weekly VRDNs,(Barclays Bank plc LIQ), 0.060%

88033MFP7 $ 10,200,000 9/22/2015 10/1/2046 Variable Rate Demand Note 3,200,000

$ Illinois Housing Development Authority, Lakeshore Plaza (2008 Series B) Weekly VRDNs,(Federal Home Loan Bank of Chicago LIQ), 0.010%

45201LUQ6 $ 3,200,000 9/22/2015 7/1/2027 Variable Rate Demand Note 10,150,000

$ Illinois International Port District, (Series 2003) Weekly VRDNs,(U.S. Bank, N.A. LOC), 0.020% 45202PAA3 $ 10,150,000 9/22/2015 1/1/2023 Variable Rate Demand Note 7,415,000

$ Southwestern Illinois Development Authority (Molinero, Inc.) , (Series 2010) Weekly VRDNs,(BMO Harris Bank, N.A. LOC), 0.040%

845524DA2 $ 7,415,000 9/22/2015 7/1/2030 Variable Rate Demand Note

TOTAL $ 435,985,000

Indiana - 2.4% 12,000,000

$ (4)(5) _{Indiana State Finance Authority Hospital Revenue (Indiana University Health Obligated Group) , RBC Muni} Trust (Series E-23) Weekly VRDNs,(Royal Bank of Canada, Montreal LIQ)/(Royal Bank of Canada, Montreal LOC), 0.020%

74926YSG7 $ 12,000,000 9/22/2015 3/1/2036 Variable Rate Demand Note

5,890,000

$ Indianapolis, IN Multifamily Housing (Washington Pointe, LP) , (Series 2009A) Weekly VRDNs,(Federal National Mortgage Association LOC), 0.030%

45528TAM6 $ 5,890,000 9/22/2015 10/6/2040 Variable Rate Demand Note 6,500,000

$ Jasper County, IN EDA (T & M LP) , (Series 2010C) Weekly VRDNs,(AgriBank FCB LOC), 0.040% 471375AC9 $ 6,500,000 9/22/2015 4/1/2026 Variable Rate Demand Note 121,500,000

$ Posey County, IN EDA, (Series 2013A) , TOBs , (Midwest Fertilizer Corp.) ,(GTD by United States Treasury), 0.250%

737347AE4 $ 121,500,000 11/3/2015 11/3/2015 Other Municipal Debt 9,515,000

$ Valparaiso, IN EDRB (Pines Village Retirement Community, Inc.) , (Series 2008) Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.090%

920283CB2 $ 9,515,000 9/22/2015 5/1/2038 Variable Rate Demand Note

TOTAL $ 155,405,000

Iowa - 0.4% 23,500,000

$ Iowa Finance Authority (Cargill, Inc.) , Midwestern Disaster Area Economic Development (Series 2011A) Weekly VRDNs, 0.050%

46246MEA2 $ 23,500,000 9/22/2015 6/1/2039 Variable Rate Demand Note

TOTAL $ 23,500,000

Kansas - 0.4% 17,300,000

$ Burlington, KS (Kansas City Power And Light Co.) , (Series 2007A) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.010%

121822AY6 $ 17,300,000 9/22/2015 9/1/2035 Variable Rate Demand Note 5,400,000

$ Shawnee, KS (Pinegate West Associates LP) , (Series 2008A) Weekly VRDNs,(BMO Harris Bank, N.A. LOC), 0.030%

820688BC2 $ 5,400,000 9/22/2015 3/1/2029 Variable Rate Demand Note

TOTAL $ 22,700,000

Kentucky - 0.4% 25,000,000

$ Pikeville, KY, (Series 2015) , BANs , (Pikeville Medical Center, Inc.) , 1.000% 72134PAV4 $ 25,077,130 3/1/2016 3/1/2016 Other Municipal Debt 2,420,000

(7)

TOTAL $ 27,497,130

Louisiana - 3.5% 25,000,000

$ Ascension Parish, LA IDB (BASF Corp.) , (Series 2009) Weekly VRDNs,(GTD by BASF SE), 0.040% 04350RAD0 $ 25,000,000 9/22/2015 10/1/2039 Variable Rate Demand Note 2,885,000

$ Louisiana Local Government Environmental Facilities Community Development Authority (The Academy of the Sacred Heart of New Orleans) , (Series 2004) Weekly VRDNs,(Federal Home Loan Bank of Dallas LOC), 0.040%

5462798H6 $ 2,885,000 9/22/2015 1/1/2024 Variable Rate Demand Note

3,350,000

$ Louisiana Local Government Environmental Facilities Community Development Authority (The Christ Episcopal Church in Covington) , (Series 2004) Weekly VRDNs,(Federal Home Loan Bank of Dallas LOC), 0.040%

5462798K9 $ 3,350,000 9/22/2015 8/1/2034 Variable Rate Demand Note

5,200,000

$ Louisiana Public Facilities Authority (Air Products & Chemicals, Inc.) , (Series 2008A) Daily VRDNs, 0.010% 546398YU6 $ 5,200,000 9/16/2015 8/1/2043 Variable Rate Demand Note 5,000,000

$ Louisiana Public Facilities Authority (Air Products & Chemicals, Inc.) , (Series 2008C) Daily VRDNs, 0.010% 546398ZP6 $ 5,000,000 9/16/2015 12/1/2043 Variable Rate Demand Note 12,125,000

$ Louisiana Public Facilities Authority (Coca-Cola Bottling Co.) , (Series 2008) Weekly VRDNs,(U.S. Bank, N.A. LOC), 0.020%

546398XX1 $ 12,125,000 9/22/2015 4/1/2023 Variable Rate Demand Note 23,700,000

$ Louisiana Public Facilities Authority (Dynamic Fuels, LLC) , (Series 2008) Daily VRDNs,(Bank of America N.A. LOC), 0.020%

546398YV4 $ 23,700,000 9/16/2015 10/1/2033 Variable Rate Demand Note 96,075,000

$ (4)(5) _{Louisiana State Gas & Fuels Second Lien, Rocs (Series 660) Weekly VRDNs,(Citibank NA, New York LIQ), 0.020%} _76113PFK9 _$_96,075,000 _9/22/2015 _5/1/2034 _{Variable Rate Demand Note} 5,400,000

$ New Orleans, LA IDB (521 Tchoupitoulas Street LLC) , (Series 2007: Gulf Opportunity Zone Bonds) Weekly VRDNs,(Federal Home Loan Bank of Dallas LOC), 0.040%

64764PAB2 $ 5,400,000 9/22/2015 11/1/2039 Variable Rate Demand Note 20,000,000

$ St. James Parish, LA (NuStar Logistics, L.P.) , (Series 2010) Weekly VRDNs,(Mizuho Bank Ltd. LOC), 0.020% 790103AE5 $ 20,000,000 9/22/2015 7/1/2040 Variable Rate Demand Note 22,000,000

$ St. James Parish, LA (NuStar Logistics, L.P.) , (Series 2011) Weekly VRDNs,(Bank of Nova Scotia, Toronto LOC), 0.020%

790103AK1 $ 22,000,000 9/22/2015 8/1/2041 Variable Rate Demand Note

TOTAL $ 220,735,000

Maine - 0.1% 3,350,000

$ (4)(5) _{Maine Health & Higher Educational Facilities Authority, Solar Eclipse (Series 2007-0104) Weekly VRDNs,(U.S.} Bank, N.A. LIQ)/(U.S. Bank, N.A. LOC), 0.030%

27884FYV6 $ 3,350,000 9/22/2015 7/1/2037 Variable Rate Demand Note

TOTAL $ 3,350,000

Maryland - 0.7% 2,665,000

$ Howard County, MD Revenue Bonds (Bluffs at Clarys Forest Apartments) , (Series 1995) Weekly VRDNs,(Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.070%

442595AH7 $ 2,665,000 9/22/2015 12/1/2020 Variable Rate Demand Note 15,300,000

$ Maryland Community Development Administration - Residential Revenue, (Series 2007M) Weekly VRDNs,(TD Bank, N.A. LIQ), 0.020%

57419PVA4 $ 15,300,000 9/22/2015 9/1/2043 Variable Rate Demand Note 794,500

$ Maryland State Health & Higher Educational Facilities Authority (Capitol College) Weekly VRDNs,(Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.070%

574216PK7 $ 794,500 9/22/2015 1/1/2021 Variable Rate Demand Note 1,149,000

$ Montgomery County, MD Housing Opportunities Commission (Byron House, Inc. Facility) , (Series 1998 Issue I) Weekly VRDNs,(Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.120%

613344RU6 $ 1,149,000 9/22/2015 9/1/2023 Variable Rate Demand Note

25,000,000

$ Montgomery County, MD, (2009 Series A) , CP, 0.020% 61335SET9 $ 25,000,000 10/2/2015 10/2/2015 Other Municipal Debt

TOTAL $ 44,908,500

Massachusetts - 3.4% 9,822,000

$ Attleboro, MA , BANs , 1.250% 049843W35 $ 9,890,647 6/15/2016 6/15/2016 Other Municipal Debt

38,000,000

$ (4)(5) _{Clipper Tax-Exempt Certificates Trust (Series 2009-47) Weekly VRDNs,(State Street Bank and Trust Co. LIQ),} 0.050%

(8)

57,500,000

$ (4)(5) _{Clipper Tax-Exempt Certificates Trust (Series 2009-69) Weekly VRDNs,(State Street Bank and Trust Co. LIQ),} 0.050%

18886PB79 $ 57,500,000 9/22/2015 7/1/2027 Variable Rate Demand Note 17,000,000

$ (4)(5) _{Commonwealth of Massachusetts, Municipal Securities Trust Receipts (Series 2008-SGC-51) Weekly} VRDNs,(Societe Generale, Paris LIQ), 0.020%

57582PJU5 $ 17,000,000 9/22/2015 8/1/2037 Variable Rate Demand Note 30,395,000

$ Massachusetts Bay Transportation Authority General Transportation System, (Series B) , CP,(Sumitomo Mitsui Banking Corp. LIQ), 0.030%

57557YJS2 $ 30,395,000 9/28/2015 9/28/2015 Other Municipal Debt 10,000,000

$ Massachusetts Bay Transportation Authority Sales Tax Revenue, (Series A-2) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.020%

575579TK3 $ 10,000,000 9/22/2015 7/1/2026 Variable Rate Demand Note 15,210,000

$ Massachusetts Bay Transportation Authority Sales Tax Revenue, 7 Month Window (Series 2010A) VRENs, 0.220%

575579VW4 $ 15,210,000 4/12/2016 7/1/2030 Variable Rate Demand Note 6,100,000

$ Massachusetts Development Finance Agency (CIL Realty of Massachusetts) , (Series 2014) Weekly VRDNs,(HSBC Bank USA, N.A. LOC), 0.020%

57583UN87 $ 6,100,000 9/22/2015 7/1/2044 Variable Rate Demand Note 16,000,000

$ Massachusetts School Building Authority, 2015 (Series C) , CP,(Barclays Bank plc LOC), 0.050% 57580SAQ9 $ 16,000,000 11/5/2015 11/5/2015 Other Municipal Debt 14,435,000

$ University of Massachusetts Building Authority, MA (Commonwealth of Massachusetts) , (Series 2011-2) VRENs, 0.220%

914437QC5 $ 14,435,000 4/12/2016 11/1/2034 Variable Rate Demand Note

TOTAL $ 214,530,647

Michigan - 2.4% 28,250,000

$ Jackson County, MI Hospital Finance Authority (Allegiance Health) , (Series 2011A) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.030%

467148EH1 $ 28,250,000 9/22/2015 6/1/2036 Variable Rate Demand Note 5,310,000

$ Kent Hospital Finance Authority, MI (Spectrum Health) , (Series 2008B-3) Weekly VRDNs,(Wells Fargo Bank, N.A. LIQ), 0.010%

490580CW5 $ 5,310,000 9/22/2015 1/15/2047 Variable Rate Demand Note 2,500,000

$ Lenawee County, MI EDC (Siena Heights University) , (Series 2009) Weekly VRDNs,(Federal Home Loan Bank of Chicago LOC), 0.030%

526010AD5 $ 2,500,000 9/22/2015 4/30/2029 Variable Rate Demand Note 5,415,000

$ Michigan State Building Authority, Facilities Program (Series I) Weekly VRDNs,(Citibank NA, New York LOC), 0.010%

594615AW6 $ 5,415,000 9/22/2015 10/15/2042 Variable Rate Demand Note 2,155,000

$ Michigan State Finance Authority Revenue, Healthcare Equipment Loan (Series D) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.030%

59447PEQ0 $ 2,155,000 9/22/2015 6/1/2041 Variable Rate Demand Note 8,650,000

$ Michigan State Financial Authority (Ascension Health Alliance Senior Credit Group) , (Subseries F-6) VRENs, 0.200%

59465HMN3 $ 8,650,000 4/12/2016 11/15/2049 Variable Rate Demand Note 10,625,000

59465HMP8 $ 10,625,000 4/12/2016 11/15/2047 Variable Rate Demand Note 7,100,000

59465HMQ6 $ 7,100,000 4/12/2016 11/15/2049 Variable Rate Demand Note 5,800,000

$ Michigan State Housing Development Authority (JAS Nonprofit Housing Corp. VI) , (Series 2000) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.010%

59465JMS8 $ 5,800,000 9/22/2015 6/1/2025 Variable Rate Demand Note 2,850,000

$ Michigan State Strategic Fund (Detroit Public Television) , (Series 2005) Weekly VRDNs,(Comerica Bank LOC), 0.030%

5946928H1 $ 2,850,000 9/22/2015 6/1/2035 Variable Rate Demand Note 500,000

$ Michigan State University Board of Trustees (Michigan State University) , (Series 2000A-1) Weekly VRDNs,(Royal Bank of Canada, Montreal LIQ), 0.010%

594712MZ1 $ 500,000 9/22/2015 8/15/2030 Variable Rate Demand Note 4,640,000

$ Michigan State University Board of Trustees (Michigan State University) , (Series 2005) Weekly VRDNs,(Royal Bank of Canada, Montreal LIQ), 0.010%

594712NG2 $ 4,640,000 9/22/2015 2/15/2034 Variable Rate Demand Note 5,000,000

$ Michigan Strategic Fund (CS Facilities LLC) , (Series 2010) Weekly VRDNs,(MUFG Union Bank, N.A. LOC), 0.020%

594698JM5 $ 5,000,000 9/22/2015 8/1/2040 Variable Rate Demand Note 9,500,000

$ Michigan Strategic Fund (Consumers Energy) , (Series 2008) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.020%

594698EC2 $ 9,500,000 9/22/2015 4/15/2018 Variable Rate Demand Note 1,715,000

$ Michigan Strategic Fund (Greenpath, Inc.) , (Series 2011) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020% 594698JQ6 $ 1,715,000 9/22/2015 2/1/2041 Variable Rate Demand Note 32,675,000

$ Michigan Strategic Fund (Kroger Co.) , (Series 2010) Weekly VRDNs,(Bank of Tokyo-Mitsubishi UFJ Ltd. LOC), 0.020%

(9)

2,000,000

$ Michigan Strategic Fund (Wedgwood Christian Services) , (Series 2008) Weekly VRDNs,(Bank of America N.A. LOC), 0.020%

594698GZ9 $ 2,000,000 9/22/2015 12/1/2038 Variable Rate Demand Note 7,125,000

$ (4)(5) _{Royal Oak, MI Hospital Finance Authority (Beaumont Health Credit Group ) , Putters (Series 5000) Daily} VRDNs,(J.P. Morgan Securities LLC LIQ)/(United States Treasury PRF), 0.030%

46640KVJ0 $ 7,125,000 9/16/2015 9/1/2017 Variable Rate Demand Note

4,160,000

$ Southfield, MI EDC (Lawrence Technological University) , (Series 2001) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.010%

844210AU8 $ 4,160,000 9/22/2015 10/1/2031 Variable Rate Demand Note 4,200,000

$ Waterford, MI School District, 2014 State Aid Notes , RANs , 1.000% 941468UH1 $ 4,200,421 9/24/2015 9/24/2015 Other Municipal Debt

TOTAL $ 150,170,421

Minnesota - 1.6% 3,460,000

$ Eagan, MN (Aspenwoods of Eagan Apartments)) , (Series 2003) Weekly VRDNs,(Federal National Mortgage Association LOC), 0.040%

269415GL3 $ 3,460,000 9/22/2015 1/15/2026 Variable Rate Demand Note 11,500,000

$ Hennepin County, MN, (Series C) Weekly VRDNs,(U.S. Bank, N.A. LIQ), 0.010% 425507BF6 $ 11,500,000 9/22/2015 12/1/2033 Variable Rate Demand Note 11,595,000

$ Minneapolis, MN (One Ten Grant Project) , Variable Rate Housing Revenue Bonds Weekly VRDNs,(Federal National Mortgage Association LOC), 0.020%

603901BS7 $ 11,595,000 9/22/2015 9/1/2026 Variable Rate Demand Note 16,910,000

$ Minneapolis, MN (Symphony Place) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.030% 603901BT5 $ 16,910,000 9/22/2015 12/1/2019 Variable Rate Demand Note 18,670,000

$ Minneapolis/St. Paul, MN Housing & Redevelopment Authority (Children's Hospitals & Clinics of Minnesota) , (Series 2007A - Tranche II) Daily VRDNs,(INS by Assured Guaranty Municipal Corp.)/(U.S. Bank, N.A. LIQ), 0.030%

603695FP7 $ 18,670,000 9/16/2015 8/15/2037 Variable Rate Demand Note

2,150,000

$ Minneapolis/St. Paul, MN Housing & Redevelopment Authority (Children's Hospitals & Clinics of Minnesota) , (Series 2007A Tranche I) Daily VRDNs,(INS by Assured Guaranty Municipal Corp.)/(U.S. Bank, N.A. LIQ), 0.030%

603695FN2 $ 2,150,000 9/16/2015 8/15/2037 Variable Rate Demand Note

7,345,000

$ Minnesota State Higher Education Facility Authority (College of Saint Catherine) , (Series Five-N2) Weekly VRDNs,(U.S. Bank, N.A. LOC), 0.020%

6041517U8 $ 7,345,000 9/22/2015 10/1/2032 Variable Rate Demand Note 2,655,000

$ New Hope, MN (Broadway Lanel) , (Series 2003A) Weekly VRDNs,(Federal National Mortgage Association LOC), 0.020%

645464FK9 $ 2,655,000 9/22/2015 7/15/2033 Variable Rate Demand Note 4,560,000

$ Plymouth, MN (Parkside Apartments) , (Series 2003) Weekly VRDNs,(Federal National Mortgage Association LOC), 0.020%

729783AC4 $ 4,560,000 9/22/2015 4/15/2033 Variable Rate Demand Note 2,000,000

$ Richfield, MN (Market Plaza Housing) , (Series 2004) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.040%

763354AD9 $ 2,000,000 9/22/2015 3/1/2034 Variable Rate Demand Note 5,500,000

$ Rochester, MN Health Care Facility Authority (Mayo Clinic) , (Series A) Weekly VRDNs, 0.020% 771902FB4 $ 5,500,000 9/22/2015 11/15/2038 Variable Rate Demand Note 5,000,000

$ Roseville, MN Independent School District No. 623, (Series A) , TANs ,(GTD by Minnesota State), 1.000% 778102Q89 $ 5,015,818 2/8/2016 2/8/2016 Other Municipal Debt 7,292,000

$ St. Louis Park, MN (Parkshore Senior Camput, LLC) , (Series 2004) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.020%

79177DEU2 $ 7,292,000 9/22/2015 8/1/2034 Variable Rate Demand Note

TOTAL $ 98,652,818

Mississippi - 0.6% 40,000,000

$ Mississippi Development Bank (Harrison County, MS) , (Series 2010B: Coliseum and Convention Center Bonds) Weekly VRDNs,(Bank of America N.A. LOC), 0.020%

605341AT3 $ 40,000,000 9/22/2015 1/1/2045 Variable Rate Demand Note

TOTAL $ 40,000,000

Missouri - 1.1% 7,625,000

$ Golden Valley, MO Memorial Hospital District, (Series 2006) Weekly VRDNs,(UMB Bank, N.A. LOC), 0.120% 381300BY7 $ 7,625,000 9/22/2015 5/1/2031 Variable Rate Demand Note 12,000,000

$ Missouri State HEFA (BJC Health System, MO) , (Series 2013C) VRENs, 0.220% 60637AEH1 $ 12,000,000 4/12/2016 1/1/2050 Variable Rate Demand Note 8,275,000

(10)

26,000,000

$ Southwest City, MO IDA (Simmons Foods, Inc.) , (Series 2009) Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.040%

84479TAB8 $ 26,000,000 9/22/2015 10/1/2020 Variable Rate Demand Note 15,300,000

$ St. Joseph, MO IDA (Heartland Regional Medical Center) , (Series 2009A) Weekly VRDNs,(Bank of Montreal LOC), 0.020%

79075LAB3 $ 15,300,000 9/22/2015 11/15/2043 Variable Rate Demand Note

TOTAL $ 69,200,000

Multi State - 1.5% 10,525,000

$ Federal Home Loan Mortgage Corp. (Multifamily Housing Revenue Bond Pass-Through Certificates) , (M033-A) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LIQ)/(GTD by Federal Home Loan Mortgage Corp.), 0.030%

31350ABP2 $ 10,525,000 9/22/2015 3/15/2049 Variable Rate Demand Note

9,740,000

$ Federal Home Loan Mortgage Corp. (Multifamily Housing Revenue Bond Pass-Through Certificates) , Floater Certificates (Series M027-A) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LIQ)/(GTD by Federal Home Loan Mortgage Corp.), 0.030%

31350ABB3 $ 9,740,000 9/22/2015 10/15/2029 Variable Rate Demand Note

11,425,000

$ Federal Home Loan Mortgage Corp. (Multifamily Housing Revenue Bond Pass-Through Certificates) , Floater Certificates (Series M031-A) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LIQ)/(GTD by Federal Home Loan Mortgage Corp.), 0.030%

31350ABK3 $ 11,425,000 9/22/2015 12/15/2045 Variable Rate Demand Note

44,300,000

$ (4)(5) _{Nuveen AMT-Free Municipal Income Fund, (Series 1) Weekly VRDPs,(Deutsche Bank Trust Co. Americas LIQ),} 0.140%

670657709 $ 44,300,000 9/22/2015 6/1/2040 Variable Rate Demand Note 19,000,000

$ (4)(5) _{Nuveen AMT-Free Municipal Income Fund, (Series 2) Weekly VRDPs,(Citibank NA, New York LIQ), 0.100%} _670657808 _$_19,000,000 _9/22/2015 _{12/1/2040 Variable Rate Demand Note}

TOTAL $ 94,990,000

Nebraska - 0.2% 10,000,000

$ Washington County, NE (Cargill, Inc.) , (Series 2010) Weekly VRDNs, 0.050% 938115AB8 $ 10,000,000 9/22/2015 8/1/2040 Variable Rate Demand Note

TOTAL $ 10,000,000

Nevada - 0.4% 28,500,000

$ (4)(5) _{Henderson, NV Health Facility (Dignity Health (Catholic Healthcare West)) , Floater Certificates (Series} 2008-2633) Weekly VRDNs,(Credit Suisse AG LIQ)/(INS by Berkshire Hathaway Assurance Corp.), 0.020%

425203DK9 $ 28,500,000 9/22/2015 7/1/2031 Variable Rate Demand Note

TOTAL $ 28,500,000

New Jersey - 3.8% 45,000,000

$ Hamilton Township, NJ , BANs , 1.500% 408054P40 $ 45,354,116 6/10/2016 6/10/2016 Other Municipal Debt 10,112,300

$ Marlboro Township, NJ , BANs , 1.000% 570833FD0 $ 10,139,250 2/12/2016 2/12/2016 Other Municipal Debt 6,819,575

$ Middletown Township, NJ , BANs , 1.000% 597307LV7 $ 6,825,714 11/13/2015 11/13/2015 Other Municipal Debt 16,050,110

$ Morristown, NJ , BANs , 1.000% 618533C84 $ 16,122,586 6/10/2016 6/10/2016 Other Municipal Debt

40,000,000

$ (4)(5) _{New Jersey State Transportation Trust Fund Authority (New Jersey State) , Clipper Tax-Exempt Certificate} Trust (Series 2009-70) Weekly VRDNs,(State Street Bank and Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.030%

18886PC52 $ 40,000,000 9/22/2015 1/1/2020 Variable Rate Demand Note

45,280,000

$ (4)(5) _{New Jersey State Transportation Trust Fund Authority (New Jersey State) , SPEARs (DBE-339) Weekly} VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.140%

25154CXB5 $ 45,280,000 9/22/2015 12/15/2036 Variable Rate Demand Note 30,305,000

$ (4)(5) _{New Jersey State Transportation Trust Fund Authority (New Jersey State) , Spears (Series DBE-297) Weekly} VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.140%

25154CNQ3 $ 30,305,000 9/22/2015 12/15/2031 Variable Rate Demand Note 15,060,000

$ (4)(5) _{New Jersey State Transportation Trust Fund Authority (New Jersey State) , Spears (Series DBE-447) Weekly} VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.140%

25154LBJ2 $ 15,060,000 9/22/2015 12/15/2036 Variable Rate Demand Note 10,752,000

$ Paramus, NJ , BANs , 1.000% 699330KT2 $ 10,785,454 2/19/2016 2/19/2016 Other Municipal Debt

9,700,714

$ Point Pleasant Beach, NJ , BANs , 2.000% 730570FV5 $ 9,811,497 8/5/2016 8/5/2016 Other Municipal Debt 7,116,000

$ Watchung Borough, NJ , BANs , 1.000% 941116JT3 $ 7,135,916 2/26/2016 2/26/2016 Other Municipal Debt 6,647,000

(11)

TOTAL $ 243,475,333

New York - 8.8% 50,000,000

$ (4)(5) _{Battery Park, NY City Authority, Putters (Series 4410) , TOBs ,(JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan} Chase Bank, N.A. LOC), 0.100%

46640KHA5 $ 50,000,000 11/12/2015 11/12/2015 Other Municipal Debt 32,380,000

$ Corning, NY City School District, (Series 2015B) , BANs , 1.250% 219417QX3 $ 32,584,411 6/23/2016 6/23/2016 Other Municipal Debt 15,600,000

$ Grand Island, NY Central School District , BANs , 1.000% 385730JF4 $ 15,624,836 12/3/2015 12/3/2015 Other Municipal Debt 6,000,000

$ Metropolitan Transportation Authority, NY (MTA Transportation Revenue) , (Series 2015E-1) Daily VRDNs,(U.S. Bank, N.A. LOC), 0.010%

59259Y7K9 $ 6,000,000 9/16/2015 11/15/2050 Variable Rate Demand Note 18,000,000

$ Metropolitan Transportation Authority, NY (MTA Transportation Revenue) , (Series 2015E-3) Weekly VRDNs,(Citibank NA, New York LOC), 0.010%

59259Y7C7 $ 18,000,000 9/22/2015 11/15/2050 Variable Rate Demand Note 33,850,000

$ Nassau County, NY Interim Finance Authority, Senior Sales Tax Secured Bonds (Series 2008C) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

631663ML2 $ 33,850,000 9/22/2015 11/15/2019 Variable Rate Demand Note 5,000,000

$ New York City, NY IDA (New York Law School) , (Series 2006A) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.010%

649438HP6 $ 5,000,000 9/22/2015 7/1/2036 Variable Rate Demand Note 4,000,000

$ New York City, NY Municipal Water Finance Authority, (2014 Series AA-1) Daily VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

64972GCM4 $ 4,000,000 9/16/2015 6/15/2050 Variable Rate Demand Note 5,500,000

$ New York City, NY Municipal Water Finance Authority, (2014 Series AA-2) Daily VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

64972GCN2 $ 5,500,000 9/16/2015 6/15/2050 Variable Rate Demand Note 21,135,000

$ New York City, NY Municipal Water Finance Authority, (Series 2014AA-8) Daily VRDNs,(Mizuho Bank Ltd. LIQ), 0.010%

64972GCP7 $ 21,135,000 9/16/2015 6/15/2048 Variable Rate Demand Note 24,735,000

$ New York City, NY Transitional Finance Authority, (Series 2014B-3) Daily VRDNs,(Barclays Bank plc LIQ), 0.010% 64971WCT5 $ 24,735,000 9/16/2015 11/1/2042 Variable Rate Demand Note 23,065,000

$ New York City, NY Transitional Finance Authority, (Series 2015A-3) Daily VRDNs,(Mizuho Bank Ltd. LIQ), 0.010%

64971WGW4 $ 23,065,000 9/16/2015 8/1/2043 Variable Rate Demand Note 4,000,000

$ New York City, NY, (Fiscal 2004 Series H-6) Weekly VRDNs,(Bank of America N.A. LOC), 0.010% 64966CH20 $ 4,000,000 9/22/2015 3/1/2034 Variable Rate Demand Note 4,900,000

$ New York City, NY, (Fiscal 2006 Series I-5) Daily VRDNs,(Bank of New York Mellon LOC), 0.010% 64966FA95 $ 4,900,000 9/16/2015 4/1/2036 Variable Rate Demand Note 24,400,000

$ New York City, NY, (Fiscal 2008 Subseries D-3) Weekly VRDNs,(Bank of Montreal LIQ), 0.020% 64966GZW5 $ 24,400,000 9/22/2015 12/1/2032 Variable Rate Demand Note 28,100,000

$ New York City, NY, (Series 2013D-3) Daily VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010% 64966LCJ8 $ 28,100,000 9/16/2015 8/1/2038 Variable Rate Demand Note 8,500,000

$ New York City, NY, (Series 2015F-6) Daily VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010% 64966LU25 $ 8,500,000 9/16/2015 6/1/2044 Variable Rate Demand Note 41,000,000

$ New York City, NY, 2015 Series F (Subseries F-5) Daily VRDNs,(Barclays Bank plc LIQ), 0.010% 64966LU41 $ 41,000,000 9/16/2015 6/1/2044 Variable Rate Demand Note 6,760,000

$ (4)(5) _{New York Liberty Development Corporation (One Bryant Park LLC) , Tender Option Bond Trust Certificates} (2015-XF2107) Weekly VRDNs,(Morgan Stanley Bank, N.A. LIQ), 0.030%

88033LH44 $ 6,760,000 9/22/2015 1/15/2046 Variable Rate Demand Note 2,900,000

$ New York State Dormitory Authority (Rockefeller University) , (Series 2008A) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

649903YA3 $ 2,900,000 9/22/2015 7/1/2039 Variable Rate Demand Note 10,000,000

$ New York State Dormitory Authority (University of Rochester, NY) , (Series 2006A-1) Weekly VRDNs,(Barclays Bank plc LOC), 0.010%

6499032J9 $ 10,000,000 9/22/2015 7/1/2027 Variable Rate Demand Note 4,500,000

$ New York State Energy Research & Development Authority (Consolidated Edison Co.) , (Series 2005A-1) Weekly VRDNs,(Mizuho Bank Ltd. LOC), 0.010%

64984EDJ1 $ 4,500,000 9/22/2015 5/1/2039 Variable Rate Demand Note 21,490,000

$ New York State HFA (625 West 57th Street) , (2015 Series A-1) Weekly VRDNs,(Bank of New York Mellon LOC), 0.010%

64986U2F3 $ 21,490,000 9/22/2015 5/1/2049 Variable Rate Demand Note 15,500,000

$ New York State HFA (Midtown West B LLC) , (Series 2009A: 505 West 37th Street Housing) Daily VRDNs,(Landesbank Hessen-Thuringen LOC), 0.020%

64986M3C7 $ 15,500,000 9/16/2015 5/1/2042 Variable Rate Demand Note 19,000,000

$ New York State HFA (Midtown West B LLC) , (Series 2009B: 505 West 37th Street Housing) Daily VRDNs,(Landesbank Hessen-Thuringen LOC), 0.020%

(12)

10,000,000

$ New York State HFA, 855 6th Ave (Series 2014A) Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.010% 64986UV87 $ 10,000,000 9/22/2015 11/1/2047 Variable Rate Demand Note 6,750,000

$ New York State Urban Development Corp., (Subseries 2008A-1) Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.010%

650035KP2 $ 6,750,000 9/22/2015 1/1/2030 Variable Rate Demand Note 5,500,000

$ (4)(5) _{Nuveen NY AMT-Free Municipal Income Fund, (Series 1) Weekly VRDPs,(Citibank NA, New York LIQ), 0.080%} _670656404 _$_5,500,000 _9/22/2015 _8/1/2040 _{Variable Rate Demand Note} 31,000,000

$ (4)(5) _{Nuveen NY AMT-Free Municipal Income Fund, (Series 2) Weekly VRDPs,(Citibank NA, New York LIQ), 0.080%} _670656503 _$_31,000,000 _9/22/2015 _8/1/2040 _{Variable Rate Demand Note} 31,000,000

$ (4)(5) _{Nuveen NY AMT-Free Municipal Income Fund, (Series 3) Weekly VRDPs,(Citibank NA, New York LIQ), 0.080%} _670656602 _$_31,000,000 _9/22/2015 _{12/1/2040 Variable Rate Demand Note} 23,500,000

$ (4)(5) _{Nuveen NY AMT-Free Municipal Income Fund, (Series 4) Weekly VRDPs,(Deutsche Bank Trust Co. Americas} LIQ), 0.130%

670656701 $ 23,500,000 9/22/2015 12/1/2040 Variable Rate Demand Note 10,000,000

$ Ogdensburg, NY Enlarged City School District , BANs , 1.250% 676490EP6 $ 10,045,443 6/22/2016 6/22/2016 Other Municipal Debt 11,000,000

$ Sweet Home, NY Central School District , BANs , 1.500% 870402PE8 $ 11,069,910 6/21/2016 6/21/2016 Other Municipal Debt

TOTAL $ 559,409,600

North Carolina - 1.5% 20,000,000

$ Charlotte, NC , CP, 0.300% 16105FWZ5 $ 20,000,000 3/22/2016 3/22/2016 Other Municipal Debt

9,005,000

$ Charlotte-Mecklenburg Hospital Authority, NC (Carolinas HealthCare System) , (Series 2007B) Daily VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

160853MR5 $ 9,005,000 9/16/2015 1/15/2038 Variable Rate Demand Note 5,000,000

$ Charlotte-Mecklenburg Hospital Authority, NC (Carolinas HealthCare System) , (Series 2007C) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ), 0.010%

160853MS3 $ 5,000,000 9/22/2015 1/15/2037 Variable Rate Demand Note 17,950,000

$ Mecklenburg County, NC, 7 Month Windows (Series 2009D) VRENs, 0.200% 584002NC9 $ 17,950,000 4/12/2016 3/1/2026 Variable Rate Demand Note 1,000,000

$ New Hanover County, NC (New Hanover Regional Medical Center) , (Series 2008B) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.010%

644804CG9 $ 1,000,000 9/22/2015 10/1/2038 Variable Rate Demand Note 10,000

$ North Carolina Capital Facilities Finance Agency (High Point University) , (Series 2006) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

65818PEP0 $ 10,000 9/22/2015 12/1/2028 Variable Rate Demand Note 3,940,000

$ North Carolina Capital Facilities Finance Agency (Salem Academy and College) , (Series 2005) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

65818PED7 $ 3,940,000 9/22/2015 8/1/2030 Variable Rate Demand Note 22,500,000

$ North Carolina Medical Care Commission (Moses H. Cone Memorial) , (Series 2004A) Weekly VRDNs, 0.020% 65820HXQ1 $ 22,500,000 9/22/2015 10/1/2035 Variable Rate Demand Note 2,855,000

$ North Carolina Medical Care Commission (Southeastern Regional Medical Center) , (Series 2005) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

65820HXU2 $ 2,855,000 9/22/2015 6/1/2037 Variable Rate Demand Note 4,015,000

$ (4) _{North Carolina State Capital Improvement, Stage Trust (Series 2011-136C) , TOBs , (North Carolina State)} ,(Wells Fargo Bank, N.A. LIQ), 0.150%

94987KAP0 $ 4,015,000 10/8/2015 5/1/2031 Other Municipal Debt 1,000,000

$ (4)(5) _{North Carolina State Turnpike Authority (North Carolina State) , Spears (Series DB-1044) Weekly} VRDNs,(Deutsche Bank AG LIQ), 0.230%

25155DHF1 $ 1,000,000 9/22/2015 7/1/2041 Variable Rate Demand Note 7,490,000

$ Raleigh, NC, (Series 2005B-2) Weekly VRDNs,(PNC Bank, N.A. LIQ), 0.020% 751093FK6 $ 7,490,000 9/22/2015 2/1/2034 Variable Rate Demand Note

TOTAL $ 94,765,000

North Dakota - 0.5% 29,124,000

$ Grand Forks County, ND (J. R. Simplot Co.) , (Series 2010) Weekly VRDNs,(Rabobank Nederland NV, Utrecht LOC), 0.050%

385433AN7 $ 29,124,000 9/22/2015 12/1/2026 Variable Rate Demand Note

TOTAL $ 29,124,000

Ohio - 1.0% 14,710,000

$ Allen County, OH (Mercy Health) , (Series 2010C) Daily VRDNs,(MUFG Union Bank, N.A. LOC), 0.010% 01757LDW3 $ 14,710,000 9/16/2015 6/1/2034 Variable Rate Demand Note 10,835,000

$ Franklin County, OH Hospital Facility Authority (Nationwide Children's Hospital) , (Series 2008F) Weekly VRDNs,(PNC Bank, N.A. LIQ), 0.020%

(13)

12,500,000

$ Franklin County, OH Mortgage Revenue, (Series 2013OH) , TOBs , (Trinity Healthcare Credit Group) , 0.070% 353202FK5 $ 12,500,000 12/1/2015 12/1/2046 Other Municipal Debt 3,000,000

$ Montgomery County, OH (Miami Valley Hospital) , (Series 2011C) Daily VRDNs,(Barclays Bank plc LIQ), 0.010% 613549JT2 $ 3,000,000 9/16/2015 11/15/2045 Variable Rate Demand Note 13,000,000

$ Ohio State Higher Educational Facility Commission (Cleveland Clinic) , (Series 2008 B-4) Daily VRDNs,(Barclays Bank plc LIQ), 0.010%

$ Ohio State University, (Series 2008B) Weekly VRDNs, 0.010% 677632JT9 $ 3,300,000 9/22/2015 12/1/2028 Variable Rate Demand Note 3,700,000

$ Ohio State, (Series 2001B) Weekly VRDNs, 0.010% 6775183S9 $ 3,700,000 9/22/2015 8/1/2021 Variable Rate Demand Note

TOTAL $ 61,045,000

Oklahoma - 0.3% 14,700,000

$ Oklahoma Development Finance Authority (INTEGRIS Obligated Group) , (Series 2015 B) VRENs, 0.200% 67884XBV8 $ 14,700,000 4/12/2016 8/15/2033 Variable Rate Demand Note 5,370,000

$ Oklahoma State Industrial Authority (American Cancer Society, Inc.) , (Series 2002) Weekly VRDNs,(Bank of America N.A. LOC), 0.070%

679103UM1 $ 5,370,000 9/22/2015 6/1/2022 Variable Rate Demand Note

TOTAL $ 20,070,000

Pennsylvania - 4.5% 3,800,000

$ Allegheny County, PA IDA (Vincentian Collaborative System) , (Series 2008A) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020%

01731AAA9 $ 3,800,000 9/22/2015 6/1/2038 Variable Rate Demand Note 12,300,000

$ Bucks County, PA IDA (Grand View Hospital) , (Series B of 2008) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020% 11861MAC0 $ 12,300,000 9/22/2015 7/1/2039 Variable Rate Demand Note 11,300,000

$ Butler County, PA General Authority (North Allegheny, PA School District) , (Series 2011A) Weekly VRDNs,(PNC Bank, N.A. LIQ), 0.020%

123574BK0 $ 11,300,000 9/22/2015 11/1/2021 Variable Rate Demand Note 4,000,000

$ Butler County, PA General Authority (North Allegheny, PA School District) , (Series 2014) Weekly VRDNs,(PNC Bank, N.A. LIQ), 0.020%

123574BR5 $ 4,000,000 9/22/2015 5/1/2027 Variable Rate Demand Note 1,200,000

$ Chester County, PA Intermediate Unit, (Series 2003) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020% 165600AA5 $ 1,200,000 9/22/2015 3/1/2025 Variable Rate Demand Note 7,500,000

$ Cumberland County, PA Municipal Authority (Presbyterian Homes Obligated Group) , (Series 2008B) Weekly VRDNs,(Bank of America N.A. LOC), 0.020%

230614DQ9 $ 7,500,000 9/22/2015 1/1/2038 Variable Rate Demand Note 12,000,000

$ Dallastown Area School District, PA, (Series of 2015) , VRNs , 1.250% 235452HP7 $ 12,064,333 4/15/2016 4/15/2016 Other Municipal Debt 19,545,000

$ Emmaus, PA General Authority, (Series 1996) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(Wells Fargo Bank, N.A. LIQ), 0.070%

291380ES8 $ 19,545,000 9/22/2015 12/1/2028 Variable Rate Demand Note 24,515,000

$ Erie County, PA Hospital Authority (St. Vincent Health System) , (Series 2010B) Weekly VRDNs,(Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.040%

295200TS8 $ 24,515,000 9/22/2015 7/1/2039 Variable Rate Demand Note 9,115,000

$ Lancaster, PA IDA (Willow Valley Retirement Communities) , (Series A of 2009) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020%

514349CB3 $ 9,115,000 9/22/2015 12/1/2039 Variable Rate Demand Note 2,300,000

$ New Castle, PA Area Hospital Authority (Jameson Memorial Hospital) , (Series 1996) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(PNC Bank, N.A. LIQ), 0.060%

643434DT7 $ 2,300,000 9/22/2015 7/1/2026 Variable Rate Demand Note 26,900,000

$ Philadelphia, PA School District, (Series F of 2010) Weekly VRDNs,(Barclays Bank plc LOC), 0.020% 717883LN0 $ 26,900,000 9/22/2015 9/1/2030 Variable Rate Demand Note 40,000,000

$ Philadelphia, PA School District, (Series G of 2010) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.020% 717883NK4 $ 40,000,000 9/22/2015 9/1/2030 Variable Rate Demand Note 79,100,000

$ Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, (Series A of 2007) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(PNC Bank, N.A. LIQ), 0.110%

724790AA8 $ 79,100,000 9/22/2015 11/1/2038 Variable Rate Demand Note 20,000,000

$ Pittsburgh, PA Water & Sewer Authority, First Lien (Series D-2) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(PNC Bank, N.A. LIQ), 0.060%

725304RM3 $ 20,000,000 9/22/2015 9/1/2040 Variable Rate Demand Note 1,000,000

$ Ridley, PA School District, (Series of 2009) Weekly VRDNs,(TD Bank, N.A. LOC), 0.020% 766357HM2 $ 1,000,000 9/22/2015 11/1/2029 Variable Rate Demand Note 8,705,000

$ Upper St. Clair Township, PA, (Series of 2008) Weekly VRDNs,(Bank of New York Mellon LIQ), 0.060% 916456HJ8 $ 8,705,000 9/22/2015 6/1/2038 Variable Rate Demand Note

(14)

South Carolina - 0.4% 10,000,000

$ Columbia, SC Waterworks & Sewer System, (Series 2009) Weekly VRDNs,(Sumitomo Mitsui Banking Corp. LOC), 0.020%

198504SD5 $ 10,000,000 9/22/2015 2/1/2038 Variable Rate Demand Note 10,000,000

$ Lexington, SC , BANs , (Lexington, SC Water & Sewage) , 2.250% 529616CV4 $ 10,041,529 12/1/2015 12/1/2015 Other Municipal Debt 4,425,000

$ South Carolina Jobs-EDA (Pinewood Preparatory School) , (Series 2008) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

837031QR7 $ 4,425,000 9/22/2015 6/1/2033 Variable Rate Demand Note 3,540,000

$ South Carolina Jobs-EDA (Woodhead LLC) , (Series 2007A) Weekly VRDNs,(Federal Home Loan Bank of Atlanta LOC), 0.120%

837031PG2 $ 3,540,000 9/22/2015 3/1/2022 Variable Rate Demand Note

TOTAL $ 28,006,529

Tennessee - 1.6% 365,000

$ Blount County, TN Public Building Authority (Maryville, TN) , (Series E-8-A) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

095175TB1 $ 365,000 9/22/2015 6/1/2037 Variable Rate Demand Note 5,000,000

$ Blount County, TN Public Building Authority (Monroe County, TN) , (Series E-7-A) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

095175SQ9 $ 5,000,000 9/22/2015 6/1/2039 Variable Rate Demand Note 35,095,000

$ Metropolitan Government Nashville & Davidson County, TN HEFA (Ascension Health Alliance Senior Credit Group) , (Series 2001B-1) VRENs, 0.200%

592041SL2 $ 35,095,000 4/12/2016 11/15/2031 Variable Rate Demand Note 25,000,000

$ Metropolitan Government Nashville & Davidson County, TN Water & Sewer, (Series A) , CP,(Bank of Tokyo-Mitsubishi UFJ Ltd. LIQ), 0.090%

59209RAC9 $ 25,000,000 10/6/2015 10/6/2015 Other Municipal Debt 12,500,000

$ Metropolitan Government Nashville & Davidson County, TN, (2014 Program) , CPX, 0.150% 59212RAJ9 $ 12,500,000 9/16/2015 4/24/2016 Other Municipal Debt 4,300,000

$ Sevier County, TN Public Building Authority, (Series V-B-1) Weekly VRDNs,(Branch Banking & Trust Co. LOC), 0.020%

818200UP0 $ 4,300,000 9/22/2015 6/1/2035 Variable Rate Demand Note 17,200,000

$ Wilson County, TN Sports Authority, (Series 1999) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.030% 97218MAA3 $ 17,200,000 9/22/2015 9/1/2029 Variable Rate Demand Note

TOTAL $ 99,460,000

Texas - 9.8% 20,000,000

$ Austin, TX, Hotel Occupancy Tax Subordinate Lien Variable Rate Revenue Refunding Bonds (Series 2008-B) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.020%

052422DQ2 $ 20,000,000 9/22/2015 11/15/2029 Variable Rate Demand Note 3,500,000

$ Bexar County, TX Housing Finance Corp. (Summit Hills Apartments) , (Series 2005A) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.030%

088379XD9 $ 3,500,000 9/22/2015 3/1/2035 Variable Rate Demand Note 24,150,000

$ (4)(5) _{Clipper Tax-Exempt Certificates Trust (Texas Non-AMT) Series 2009-64 Weekly VRDNs,(State Street Bank and} Trust Co. LIQ)/(Texas Permanent School Fund Guarantee Program LOC), 0.050%

18886PZH1 $ 24,150,000 9/22/2015 8/15/2019 Variable Rate Demand Note

37,760,000

$ Dallas, TX Performing Arts Cultural Facilities Corp. (Dallas Center for the Performing Arts Foundation, Inc.) , (Series 2008A) Weekly VRDNs,(Bank of America N.A. LOC), 0.010%

$ Dallas, TX Performing Arts Cultural Facilities Corp. (Dallas Center for the Performing Arts Foundation, Inc.) , (Series 2008B) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LOC), 0.010%

235364AG1 $ 9,900,000 9/22/2015 9/1/2041 Variable Rate Demand Note 8,900,000

$ Denton, TX Independent School District, (Series 2005-A) Weekly VRDNs,(Bank of America N.A. LIQ), 0.020% 249001K56 $ 8,900,000 9/22/2015 8/1/2035 Variable Rate Demand Note 5,000,000

$ Garland, TX, Electric Utility System (Series 2014) , CP,(Wells Fargo Bank, N.A. LOC), 0.050% 36613RAG8 $ 5,000,000 12/8/2015 12/8/2015 Other Municipal Debt 13,650,000

$ (4)(5) _{Grand Parkway Transportation Corp., TX, Tender Option Bond Trust Certificates (2015-XF0228) Weekly} VRDNs,(State Street Bank and Trust Co. LIQ), 0.030%

88033LM97 $ 13,650,000 9/22/2015 11/1/2044 Variable Rate Demand Note 34,000,000

$ Harris County, TX Cultural Education Facilities Finance Corp., (Subseries 2009C-1) , CP, (Methodist Hospital, Harris County, TX) , 0.120%

41386R2D9 $ 34,000,000 10/5/2015 10/5/2015 Other Municipal Debt 30,000,000

41386R2G2 $ 30,000,000 1/6/2016 1/6/2016 Other Municipal Debt 28,000,000

41386R2M9 $ 28,000,000 2/3/2016 2/3/2016 Other Municipal Debt 57,500,000