In the first quarter of 2023, the Texas Natural Gas Securitization Finance Corporation topped the list of the top 10 issuers.

The Dormitory Authority of the State of New York, the Virginia Small Business Finance Authority, the Regents of the University of Michigan, the Los Angeles Department of Airports, the South Carolina Public Service Authority, and the Los Angeles Department of Water and Power dropped out of the top 10, making room for six new issuers.

Four of the top 10 issuers are from New York and three are from California, making up the majority of the top 10 issuers.