The fund’s largest single holding is the San Francisco International Airport Series 2026-2, which accounts for 3.69% of the portfolio. Other significant positions include the Melissa Independent School District and the Commonwealth of Massachusetts. Geographically, Texas and California dominate the fund’s allocation, representing 12.60% and 12.38% of investments, respectively. The portfolio leans heavily toward revenue-based bonds, specifically within the airport and healthcare sectors, which together comprise over 25% of the total assets.

Financial data indicates a total fund leverage level of 42.65%, largely driven by tender option bonds and VRDP shares. The average coupon rate sits at 5.97%, with an effective duration of 10.97 years. While the majority of the assets are rated in the AA and A categories, approximately 6.60% of the holdings remain unrated. The fund, which reports a common stock net asset value of $12.07, continues to focus on long-term maturity profiles, with nearly 82% of its holdings maturing in more than 20 years.