Investment objective & strategy
As of Sept. 26, 2024 · prospectusObjective. The investment objective of the Portfolio is to earn the highest level of current income exempt from both federal income tax and State of Ohio personal income tax that is available without assuming what the Adviser considers to be undue risk.
Strategy. The Portfolio pursues its objective by investing principally in high-yielding, predominantly investment grade municipal securities. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. These securities may pay interest that is subject to the federal alternative minimum tax (AMT) for certain taxpayers. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities of Ohio or municipal securities with interest that is otherwise exempt from Ohio state income tax. The Portfolio may also invest in: forward commitments; zero-coupon municipal securities and variable, floating and inverse floating-rate … The Portfolio pursues its objective by investing principally in high-yielding, predominantly investment grade municipal securities. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. These securities may pay interest that is subject to the federal alternative minimum tax (AMT) for certain taxpayers. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities of Ohio or municipal securities with interest that is otherwise exempt from Ohio state income tax. The Portfolio may also invest in: forward commitments; zero-coupon municipal securities and variable, floating and inverse floating-rate municipal securities; and derivatives, such as options, futures contracts, forwards and swaps.
Top holdings
As of Feb. 28, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| OHIO ST UNIV GR 5.25% 12/1/2046 | — | $2.21M | 6.18% |
| UNIV OF AKRON OH | — | $2.08M | 5.83% |
| UNIV OF TOLEDO OH | — | $1.91M | 5.35% |
| City of Chillicothe, Series 2017 | — | $1.76M | 4.93% |
| Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy Health, Series 2017A | — | $1.69M | 4.72% |
| Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth System, Series 2017 | — | $1.43M | 3.99% |
| MONTGOMERY CNTY OH HOSP REVENU MONMED 11/45 ADJUSTABLE VAR | — | $1.40M | 3.93% |
| Ohio (State of), Series 2021 A, GO Bonds | — | $1.16M | 3.24% |
| CLEVELAND OH PUBLIC PWR SYS REVENUE | — | $1.16M | 3.24% |
| FRANKLIN CNTY OH MF REVENUE REGD B/E AMT GNMA CO 5.80000000 | — | $1.15M | 3.22% |
Portfolio moves
Nov 30, 2024 → Feb 28, 2025How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| AB Arizona Portfolio · AAZAX, AAZBX, AAZCX, AAZYX | 2% | 0.53% |
| AB Pennsylvania Portfolio · APAAX, APABX, APACX | 2% | 0.85% |
| AB New Jersey Portfolio · ANJAX, ANJBX, ANJCX | 2% | 0.82% |
Footnotes
- Net assets and holdings count as of February 28, 2025, from the fund's N-PORT filing.
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