# EDGAR Filing Document

**Accession Number:** 0001176194
**File Stem:** 0001410368-25-043493
**Filing Date:** 2025-12
**Character Count:** 216077
**Document Hash:** 2bb0465ed832b26af9f9453cbe85a765
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043493.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043493

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK MUNICIPAL INCOME TRUST II
- **CENTRAL INDEX KEY:** 0001176194

**ORGANIZATION NAME:**
- **EIN:** 010722216
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21126
- **FILM NUMBER:** 251606936

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 888-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Nport-Ex

October 31, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**BlackRock Municipal Income Trust II (BLE)**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Alabama — 5.0%** | **Alabama — 5.0%** |  |
| Black Belt Energy Gas District, RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/01/52 | $2925 | &nbsp;&nbsp; $2945142 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 05/01/56 | 2440 | &nbsp;&nbsp; 2542427 |
| &nbsp;&nbsp;&nbsp; County of Jefferson Alabama Sewer Revenue, Refunding <br> RB, 5.25%, 10/01/49<br>| 4580 | &nbsp;&nbsp; 4774062 |
| &nbsp;&nbsp;&nbsp; Lower Alabama Gas District, RB, Series A, 5.00%, <br> 09/01/46<br>| 7465 | &nbsp;&nbsp; 8068832 |
| Southeast Energy Authority A Cooperative District, RB<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 11/01/51 | 5290 | &nbsp;&nbsp; 5410748 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 01/01/56 | 1720 | &nbsp;&nbsp; 1841285 |
| &nbsp;&nbsp;&nbsp; Series A-1, 5.50%, 01/01/53 | 1960 | &nbsp;&nbsp; 2124165 |
|  |  | &nbsp;&nbsp; 27706661 |
| **Arizona — 2.7%** | **Arizona — 2.7%** |  |
| Arizona Industrial Development Authority, RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/01/39 | 225 | &nbsp;&nbsp; 204666 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/49 | 210 | &nbsp;&nbsp; 190683 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/54 | 165 | &nbsp;&nbsp; 146806 |
| &nbsp;&nbsp;&nbsp; Arizona Industrial Development Authority, Refunding RB, <br> Series A, 5.38%, 07/01/50<sup>(b)</sup><br>| 1185 | &nbsp;&nbsp; 1171721 |
| &nbsp;&nbsp;&nbsp; City of Phoenix Civic Improvement Corp., RB, Junior <br> Lien, 5.25%, 07/01/47<br>| 1740 | &nbsp;&nbsp; 1870231 |
| &nbsp;&nbsp;&nbsp; Glendale Industrial Development Authority, RB, 5.00%, <br> 05/15/56<br>| 100 | &nbsp;&nbsp; 86293 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the City of Phoenix <br> Arizona, RB, Series A, 5.00%, 07/01/46<sup>(b)</sup><br>| 1825 | &nbsp;&nbsp; 1759435 |
| &nbsp;&nbsp;&nbsp; Industrial Development Authority of the County of Pima, <br> RB, 5.00%, 07/01/49<sup>(b)</sup><br>| 350 | &nbsp;&nbsp; 318226 |
| &nbsp;&nbsp;&nbsp; Maricopa County Industrial Development Authority, RB, <br> 6.38%, 07/01/58<sup>(b)</sup><br>| 620 | &nbsp;&nbsp; 608349 |
| Salt Verde Financial Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/01/32 | 5635 | &nbsp;&nbsp; 6177357 |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/01/37 | 2000 | &nbsp;&nbsp; 2188451 |
|  |  | &nbsp;&nbsp; 14722218 |
| **Arkansas — 0.2%** | **Arkansas — 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Arkansas Development Finance Authority, RB, AMT, <br> Sustainability Bonds, 5.70%, 05/01/53<br>| 975 | &nbsp;&nbsp; 995148 |
| **California — 5.8%** | **California — 5.8%** |  |
| &nbsp;&nbsp;&nbsp; California Community Choice Financing Authority, RB, <br> Class B, Sustainability Bonds, 5.00%, 03/01/56<sup>(a)</sup><br>| 2035 | &nbsp;&nbsp; 2233714 |
| &nbsp;&nbsp;&nbsp; California County Tobacco Securitization Agency, <br> Refunding RB, Series A, 5.00%, 06/01/36<br>| 300 | &nbsp;&nbsp; 289195 |
| &nbsp;&nbsp;&nbsp; California Educational Facilities Authority, RB, <br> Series U-7, 5.00%, 06/01/46<br>| 2315 | &nbsp;&nbsp; 2656100 |
| &nbsp;&nbsp;&nbsp; California Enterprise Development Authority, RB, 8.00%, <br> 11/15/62<sup>(b)</sup><br>| 855 | &nbsp;&nbsp; 848368 |
| &nbsp;&nbsp;&nbsp; California Health Facilities Financing Authority, <br> Refunding RB, Sustainability Bonds, 5.00%, 08/01/55<br>| 1500 | &nbsp;&nbsp; 1503913 |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> Refunding RB, Series A, Class B, AMT, Sustainability <br> Bonds, 9.50%, 01/01/65<sup>(b)</sup><br>| 2555 | &nbsp;&nbsp; 2044000 |
| &nbsp;&nbsp;&nbsp; California Municipal Finance Authority, ARB, AMT, Senior <br> Lien, 4.00%, 12/31/47<br>| 780 | &nbsp;&nbsp; 683943 |
| &nbsp;&nbsp;&nbsp; California Pollution Control Financing Authority, RB, AMT, <br> 5.00%, 11/21/45<sup>(b)</sup><br>| 2130 | &nbsp;&nbsp; 2130070 |
| &nbsp;&nbsp;&nbsp; California School Finance Authority, Refunding RB, <br> Series A, 5.00%, 07/01/51<sup>(b)</sup><br>| 1700 | &nbsp;&nbsp; 1700027 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **California (continued)** | **California (continued)** |  |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, ARB, AMT, <br> Sustainability Bonds, 5.00%, 05/15/47<br>| 1265 | &nbsp;&nbsp; $1300203 |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> ARB, Series A, AMT, Sustainability Bonds, 5.50%, <br> 05/15/55<br>| 2320 | &nbsp;&nbsp; 2495812 |
| &nbsp;&nbsp;&nbsp; Indio Finance Authority, Refunding RB, Series A, (BAM), <br> 4.50%, 11/01/52<br>| 2405 | &nbsp;&nbsp; 2440944 |
| &nbsp;&nbsp;&nbsp; Pleasanton Unified School District, GO, Election 2022, <br> 4.25%, 08/01/50<br>| 5300 | &nbsp;&nbsp; 5321577 |
| &nbsp;&nbsp;&nbsp; Riverside County Transportation Commission, Refunding <br> RB, Class B1, Senior Lien, 4.00%, 06/01/46<br>| 2255 | &nbsp;&nbsp; 2060831 |
| San Marcos Unified School District, GO, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series B, Election 2010, 0.00%, 08/01/33 | 3000 | &nbsp;&nbsp; 2397407 |
| &nbsp;&nbsp;&nbsp; Series B, Election 2010, 0.00%, 08/01/43 | 2500 | &nbsp;&nbsp; 1183132 |
| &nbsp;&nbsp;&nbsp; Washington Township Health Care District, GO, Series B, <br> Election 2004, 5.50%, 08/01/40<br>| 830 | &nbsp;&nbsp; 835158 |
|  |  | &nbsp;&nbsp; 32124394 |
| **Colorado — 0.9%** | **Colorado — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; Centerra Metropolitan District No. 1, TA, 5.00%, <br> 12/01/47<sup>(b)</sup><br>| 250 | &nbsp;&nbsp; 247852 |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Airport System <br> Revenue, Refunding ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 4.13%, 11/15/53 | 1290 | &nbsp;&nbsp; 1167039 |
| &nbsp;&nbsp;&nbsp; Series D, AMT, 5.75%, 11/15/45 | 1315 | &nbsp;&nbsp; 1419776 |
| Colorado Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/39 | 595 | &nbsp;&nbsp; 648577 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/47 | 370 | &nbsp;&nbsp; 389962 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/52 | 920 | &nbsp;&nbsp; 949641 |
|  |  | &nbsp;&nbsp; 4822847 |
| **District of Columbia — 4.0%** | **District of Columbia — 4.0%** |  |
| &nbsp;&nbsp;&nbsp; District of Columbia Housing Finance Agency, RB, M/F <br> Housing, Series B-2, 4.10%, 09/01/39<br>| 2370 | &nbsp;&nbsp; 2348211 |
| &nbsp;&nbsp;&nbsp; District of Columbia Tobacco Settlement Financing Corp., <br> Refunding RB, 6.75%, 05/15/40<br>| 8110 | &nbsp;&nbsp; 8364254 |
| &nbsp;&nbsp;&nbsp; District of Columbia, Refunding GO, Series A, 5.25%, <br> 01/01/48<br>| 2780 | &nbsp;&nbsp; 2952094 |
| District of Columbia, Refunding RB, 5.00%, 10/01/48 | 1315 | &nbsp;&nbsp; 1298122 |
| District of Columbia, TA, 5.13%, 06/01/41 | 540 | &nbsp;&nbsp; 540364 |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Dulles Toll <br> Road Revenue, Refunding RB, Series B, Subordinate, <br> 4.00%, 10/01/49<br>| 5985 | &nbsp;&nbsp; 5331219 |
| &nbsp;&nbsp;&nbsp; Washington Metropolitan Area Transit Authority <br> Dedicated Revenue, RB, Series A, Sustainability <br> Bonds, 4.13%, 07/15/47<br>| 1285 | &nbsp;&nbsp; 1234793 |
|  |  | &nbsp;&nbsp; 22069057 |
| **Florida — 5.4%** | **Florida — 5.4%** |  |
| Capital Trust Agency, Inc., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/45 | 190 | &nbsp;&nbsp; 165025 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 06/01/57 | 100 | &nbsp;&nbsp; 87181 |
| &nbsp;&nbsp;&nbsp; Celebration Pointe Community Development District No. <br> 1, SAB<sup>(d)(e)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/32 | 180 | &nbsp;&nbsp; 144000 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/48 | 530 | &nbsp;&nbsp; 424000 |
| &nbsp;&nbsp;&nbsp; City of Fort Lauderdale Florida Water & Sewer Revenue, <br> RB, Series B, 5.50%, 09/01/48<br>| 2920 | &nbsp;&nbsp; 3190399 |
| &nbsp;&nbsp;&nbsp; City of Tampa Florida, RB, CAB, Series A, 0.00%, <br> 09/01/45<sup>(c)</sup><br>| 6275 | &nbsp;&nbsp; 2390360 |
| &nbsp;&nbsp;&nbsp; County of Broward Florida Airport System Revenue, <br> ARB, Series A, AMT, 5.00%, 10/01/44<br>| 600 | &nbsp;&nbsp; 612029 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** |  |
| County of Pasco Florida, RB |  |  |
| &nbsp;&nbsp;&nbsp; (AGM), 5.00%, 09/01/48 | 5085 | &nbsp;&nbsp; $5250269 |
| &nbsp;&nbsp;&nbsp; (AGM), 5.75%, 09/01/54 | 955 | &nbsp;&nbsp; 1026583 |
| Florida Development Finance Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/15/56 | 115 | &nbsp;&nbsp; 108689 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 05/01/29<sup>(b)</sup> | 180 | &nbsp;&nbsp; 181790 |
| &nbsp;&nbsp;&nbsp; Florida State Board of Governors, RB, Series A, (BAM), <br> 4.25%, 10/01/53<br>| 7000 | &nbsp;&nbsp; 6613370 |
| &nbsp;&nbsp;&nbsp; Hillsborough County Industrial Development Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 11/15/49 | 465 | &nbsp;&nbsp; 496293 |
| &nbsp;&nbsp;&nbsp; Series C, 4.13%, 11/15/51 | 2050 | &nbsp;&nbsp; 1916368 |
| Lakewood Ranch Stewardship District, SAB |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/01/37 | 180 | &nbsp;&nbsp; 182903 |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/01/47 | 185 | &nbsp;&nbsp; 185992 |
| &nbsp;&nbsp;&nbsp; 6.30%, 05/01/54 | 475 | &nbsp;&nbsp; 501192 |
| &nbsp;&nbsp;&nbsp; Orange County Health Facilities Authority, Refunding RB, <br> Series A, 5.25%, 10/01/56<br>| 4270 | &nbsp;&nbsp; 4488639 |
| &nbsp;&nbsp;&nbsp; Osceola Chain Lakes Community Development District, <br> SAB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/40 | 270 | &nbsp;&nbsp; 253185 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/50 | 260 | &nbsp;&nbsp; 218230 |
| &nbsp;&nbsp;&nbsp; Stevens Plantation Community Development District, <br> SAB, Series A, 7.10%, 05/01/35<sup>(d)(e)</sup><br>| 1670 | &nbsp;&nbsp; 1135635 |
|  |  | &nbsp;&nbsp; 29572132 |
| **Georgia — 1.4%** | **Georgia — 1.4%** |  |
| &nbsp;&nbsp;&nbsp; East Point Business & Industrial Development Authority, <br> RB, Series A, 5.25%, 06/15/62<sup>(b)</sup><br>| 435 | &nbsp;&nbsp; 285402 |
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas, Inc., RB, Series B, 5.00%, <br> 12/01/52<sup>(a)</sup><br>| 5000 | &nbsp;&nbsp; 5251860 |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia, RB, Series A, <br> 5.00%, 07/01/52<br>| 1870 | &nbsp;&nbsp; 1895678 |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia, Refunding RB, <br> Series A, 4.00%, 01/01/51<br>| 520 | &nbsp;&nbsp; 458478 |
|  |  | &nbsp;&nbsp; 7891418 |
| **Hawaii — 0.1%** | **Hawaii — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; State of Hawaii Airports System Revenue, ARB, AMT, <br> 5.25%, 08/01/26<br>| 810 | &nbsp;&nbsp; 811512 |
| **Idaho — 1.4%** | **Idaho — 1.4%** |  |
| Idaho Health Facilities Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; (AGM-CR), 4.38%, 03/01/53 | 2220 | &nbsp;&nbsp; 2173955 |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/01/53 | 895 | &nbsp;&nbsp; 856551 |
| Idaho Housing & Finance Association, RB |  |  |
| &nbsp;&nbsp;&nbsp; (GTD), 5.50%, 05/01/52 | 1250 | &nbsp;&nbsp; 1280588 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 08/15/48 | 3250 | &nbsp;&nbsp; 3502811 |
|  |  | &nbsp;&nbsp; 7813905 |
| **Illinois — 5.7%** | **Illinois — 5.7%** |  |
| Chicago Board of Education, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 12/01/40 | 535 | &nbsp;&nbsp; 517418 |
| &nbsp;&nbsp;&nbsp; Series A, 6.25%, 12/01/50 | 2310 | &nbsp;&nbsp; 2414767 |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 12/01/35 | 945 | &nbsp;&nbsp; 944983 |
| &nbsp;&nbsp;&nbsp; Series D, 5.00%, 12/01/46 | 3605 | &nbsp;&nbsp; 3271107 |
| &nbsp;&nbsp;&nbsp; Series H, 5.00%, 12/01/36 | 645 | &nbsp;&nbsp; 641502 |
| Chicago Board of Education, Refunding GO |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 12/01/43<sup>(f)</sup> | 1100 | &nbsp;&nbsp; 1146655 |
| &nbsp;&nbsp;&nbsp; Series D, 5.00%, 12/01/27 | 1600 | &nbsp;&nbsp; 1619559 |
| &nbsp;&nbsp;&nbsp; Series G, 5.00%, 12/01/34 | 710 | &nbsp;&nbsp; 710018 |
| &nbsp;&nbsp;&nbsp; Chicago O'Hare International Airport, Refunding ARB, <br> Series A, AMT, Senior Lien, 5.00%, 01/01/48<br>| 1000 | &nbsp;&nbsp; 1003291 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Illinois (continued)** | **Illinois (continued)** |  |
| Illinois Finance Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 07/15/47 | 3920 | &nbsp;&nbsp; $3577376 |
| &nbsp;&nbsp;&nbsp; Series C, 4.00%, 02/15/27<sup>(g)</sup> | 45 | &nbsp;&nbsp; 45786 |
| &nbsp;&nbsp;&nbsp; Series C, 4.00%, 02/15/41 | 5 | &nbsp;&nbsp; 4869 |
| Illinois Housing Development Authority, RB, S/F Housing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 6.25%, 10/01/52<br>| 2780 | &nbsp;&nbsp; 2980693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series N, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 6.25%, 04/01/54<br>| 1660 | &nbsp;&nbsp; 1805116 |
| Metropolitan Pier & Exposition Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/57 | 2745 | &nbsp;&nbsp; 2732923 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 06/15/53 | 280 | &nbsp;&nbsp; 280063 |
| Metropolitan Pier & Exposition Authority, RB, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; (BAM-TCRS), 0.00%, 12/15/56 | 2165 | &nbsp;&nbsp; 481276 |
| &nbsp;&nbsp;&nbsp; Series A, 0.00%, 12/15/56 | 3020 | &nbsp;&nbsp; 641451 |
| Metropolitan Pier & Exposition Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/50 | 1680 | &nbsp;&nbsp; 1452726 |
| &nbsp;&nbsp;&nbsp; Series B, (AGM), 0.00%, 06/15/44<sup>(c)</sup> | 8680 | &nbsp;&nbsp; 3720392 |
| State of Illinois, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 05/01/43 | 1115 | &nbsp;&nbsp; 1173620 |
| &nbsp;&nbsp;&nbsp; Series D, 5.00%, 11/01/28 | 505 | &nbsp;&nbsp; 524799 |
|  |  | &nbsp;&nbsp; 31690390 |
| **Indiana — 0.4%** | **Indiana — 0.4%** |  |
| Indiana Finance Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 10/01/46 | 1440 | &nbsp;&nbsp; 1553579 |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 10/01/47 | 495 | &nbsp;&nbsp; 532590 |
|  |  | &nbsp;&nbsp; 2086169 |
| **Kansas — 0.1%** | **Kansas — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; City of Lenexa Kansas, Refunding RB, Series A, 5.00%, <br> 05/15/43<br>| 400 | &nbsp;&nbsp; 394151 |
| **Kentucky — 2.1%** | **Kentucky — 2.1%** |  |
| &nbsp;&nbsp;&nbsp; Kentucky Public Energy Authority, RB, Series A-1, <br> 4.00%, 08/01/52<sup>(a)</sup><br>| 6085 | &nbsp;&nbsp; 6253659 |
| &nbsp;&nbsp;&nbsp; Kentucky Public Transportation Infrastructure Authority, <br> RB, CAB, Convertible, 6.75%, 07/01/43<sup>(h)</sup><br>| 1655 | &nbsp;&nbsp; 1876480 |
| University of Kentucky, RB, Class A, 5.00%, 04/01/55 | 3605 | &nbsp;&nbsp; 3717191 |
|  |  | &nbsp;&nbsp; 11847330 |
| **Louisiana — 1.0%** | **Louisiana — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Louisiana Public Facilities Authority, RB, 5.25%, <br> 10/01/53<br>| 2705 | &nbsp;&nbsp; 2702136 |
| &nbsp;&nbsp;&nbsp; Parish of East Baton Rouge Capital Improvements <br> District, RB, 5.00%, 08/01/46<br>| 1370 | &nbsp;&nbsp; 1446729 |
| &nbsp;&nbsp;&nbsp; Port New Orleans Board of Commissioners, ARB, <br> Series E, AMT, 5.00%, 04/01/44<br>| 1485 | &nbsp;&nbsp; 1508536 |
|  |  | &nbsp;&nbsp; 5657401 |
| **Maryland — 0.3%** | **Maryland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; City of Baltimore Maryland, Refunding RB, Series A, <br> 4.50%, 09/01/33<br>| 135 | &nbsp;&nbsp; 135826 |
| &nbsp;&nbsp;&nbsp; Maryland Economic Development Corp., RB, Class B, <br> AMT, Sustainability Bonds, 5.25%, 06/30/47<br>| 1550 | &nbsp;&nbsp; 1556828 |
|  |  | &nbsp;&nbsp; 1692654 |
| **Massachusetts — 3.7%** | **Massachusetts — 3.7%** |  |
| &nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts Transportation Fund <br> Revenue, RB, Series B, 5.00%, 06/01/52<br>| 1875 | &nbsp;&nbsp; 1948797 |
| &nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts, GOL, Series D, <br> 5.00%, 10/01/50<br>| 1810 | &nbsp;&nbsp; 1895130 |
| &nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, RB, <br> Series A, 5.00%, 01/01/47<br>| 3700 | &nbsp;&nbsp; 3599740 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Massachusetts (continued)** | **Massachusetts (continued)** |  |
| &nbsp;&nbsp;&nbsp; Massachusetts Development Finance Agency, Refunding <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; (AGM), 5.50%, 07/01/50 | 4770 | &nbsp;&nbsp; $5158423 |
| &nbsp;&nbsp;&nbsp; (AGM-CR), 5.50%, 07/01/55 | 2860 | &nbsp;&nbsp; 3090333 |
| &nbsp;&nbsp;&nbsp; (AGM), 5.50%, 07/01/55 | 2545 | &nbsp;&nbsp; 2768712 |
| &nbsp;&nbsp;&nbsp; Massachusetts Housing Finance Agency, Refunding RB, <br> Series A, AMT, 4.50%, 12/01/47<br>| 645 | &nbsp;&nbsp; 603617 |
| &nbsp;&nbsp;&nbsp; Massachusetts Port Authority, ARB, Series E, AMT, <br> 5.00%, 07/01/46<br>| 1220 | &nbsp;&nbsp; 1244229 |
|  |  | &nbsp;&nbsp; 20308981 |
| **Michigan — 0.6%** | **Michigan — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; City of Detroit Michigan Water Supply System Revenue, <br> RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36<br>| 5 | &nbsp;&nbsp; 5012 |
| &nbsp;&nbsp;&nbsp; Michigan Finance Authority, RB, Sustainability Bonds, <br> 5.50%, 02/28/57<br>| 870 | &nbsp;&nbsp; 911682 |
| &nbsp;&nbsp;&nbsp; Michigan State Building Authority, Refunding RB, <br> Series I, 4.00%, 10/15/52<br>| 555 | &nbsp;&nbsp; 510304 |
| Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43 | 1680 | &nbsp;&nbsp; 1681821 |
|  |  | &nbsp;&nbsp; 3108819 |
| **Minnesota — 1.8%** | **Minnesota — 1.8%** |  |
| Duluth Economic Development Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.25%, 02/15/48 | 5685 | &nbsp;&nbsp; 5308317 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 02/15/58 | 3050 | &nbsp;&nbsp; 3067733 |
| &nbsp;&nbsp;&nbsp; Minnesota Housing Finance Agency, RB, S/F Housing, <br> Series M, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 6.00%, 01/01/53<br>| 1645 | &nbsp;&nbsp; 1744428 |
|  |  | &nbsp;&nbsp; 10120478 |
| **Mississippi — 0.2%** | **Mississippi — 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Mississippi Development Bank, RB, (AGM), 6.88%, <br> 12/01/40<br>| 1190 | &nbsp;&nbsp; 1209493 |
| **Missouri — 1.9%** | **Missouri — 1.9%** |  |
| &nbsp;&nbsp;&nbsp; Health & Educational Facilities Authority of the State of <br> Missouri, Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.25%, 04/01/55 | 4380 | &nbsp;&nbsp; 4141499 |
| &nbsp;&nbsp;&nbsp; Series C, 4.00%, 11/15/49 | 3455 | &nbsp;&nbsp; 3085166 |
| Kansas City Industrial Development Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Class B, AMT, (AGM), 5.00%, 03/01/49 | 1710 | &nbsp;&nbsp; 1719285 |
| &nbsp;&nbsp;&nbsp; Class B, AMT, (AGM), 5.00%, 03/01/55 | 1725 | &nbsp;&nbsp; 1729447 |
|  |  | &nbsp;&nbsp; 10675397 |
| **Nevada — 0.6%** | **Nevada — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; Las Vegas Valley Water District, GOL, Series A, 5.25%, <br> 06/01/55<br>| 3145 | &nbsp;&nbsp; 3370629 |
| **New Hampshire — 1.4%** | **New Hampshire — 1.4%** |  |
| New Hampshire Business Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-1, Class A1, 4.09%, 01/20/41<sup>(a)</sup> | 826 | &nbsp;&nbsp; 822703 |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 5.50%, 06/01/55 | 3215 | &nbsp;&nbsp; 3382081 |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, RB, M/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; 1st Series, Class B, 5.75%, 04/28/42 | 1245 | &nbsp;&nbsp; 1299730 |
| &nbsp;&nbsp;&nbsp; Series 2025, Subordinate, 5.15%, 09/28/37 | 1950 | &nbsp;&nbsp; 1972470 |
|  |  | &nbsp;&nbsp; 7476984 |
| **New Jersey — 8.7%** | **New Jersey — 8.7%** |  |
| New Jersey Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/28<sup>(g)</sup> | 1375 | &nbsp;&nbsp; 1477304 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/43 | 2335 | &nbsp;&nbsp; 2403369 |
| &nbsp;&nbsp;&nbsp; Series EEE, 5.00%, 06/15/48 | 6405 | &nbsp;&nbsp; 6522867 |
| &nbsp;&nbsp;&nbsp; AMT, (AGM), 5.00%, 01/01/31 | 530 | &nbsp;&nbsp; 530999 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New Jersey (continued)** | **New Jersey (continued)** |  |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.38%, 01/01/43 | 1500 | &nbsp;&nbsp; $1501342 |
| &nbsp;&nbsp;&nbsp; New Jersey Economic Development Authority, Refunding <br> SAB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/01/28 | 3316 | &nbsp;&nbsp; 3428187 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/31 | 705 | &nbsp;&nbsp; 709131 |
| &nbsp;&nbsp;&nbsp; New Jersey Health Care Facilities Financing Authority, <br> RB, 4.00%, 07/01/51<br>| 4980 | &nbsp;&nbsp; 4590127 |
| &nbsp;&nbsp;&nbsp; New Jersey Higher Education Student Assistance <br> Authority, RB, Series C, AMT, Subordinate, 4.25%, <br> 12/01/50<br>| 1810 | &nbsp;&nbsp; 1588319 |
| &nbsp;&nbsp;&nbsp; New Jersey Higher Education Student Assistance <br> Authority, Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series 1-B, AMT, 4.50%, 12/01/45 | 690 | &nbsp;&nbsp; 707644 |
| &nbsp;&nbsp;&nbsp; Sub-Series C, AMT, 3.63%, 12/01/49 | 665 | &nbsp;&nbsp; 513032 |
| New Jersey Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/28<sup>(g)</sup> | 1740 | &nbsp;&nbsp; 1869462 |
| &nbsp;&nbsp;&nbsp; Series AA, 5.00%, 06/15/45 | 415 | &nbsp;&nbsp; 415125 |
| &nbsp;&nbsp;&nbsp; Series AA, 4.00%, 06/15/50 | 1730 | &nbsp;&nbsp; 1578343 |
| &nbsp;&nbsp;&nbsp; Series BB, 5.00%, 06/15/46 | 3465 | &nbsp;&nbsp; 3637947 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, <br> Refunding RB, Series A, 4.25%, 06/15/40<br>| 7330 | &nbsp;&nbsp; 7497521 |
| &nbsp;&nbsp;&nbsp; New Jersey Turnpike Authority, RB, Series A, 5.25%, <br> 01/01/55<br>| 2430 | &nbsp;&nbsp; 2613072 |
| Tobacco Settlement Financing Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 06/01/46 | 275 | &nbsp;&nbsp; 272037 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 06/01/46 | 3835 | &nbsp;&nbsp; 3844713 |
| &nbsp;&nbsp;&nbsp; Sub-Series B, 5.00%, 06/01/46 | 2600 | &nbsp;&nbsp; 2531459 |
|  |  | &nbsp;&nbsp; 48232000 |
| **New Mexico — 0.0%** | **New Mexico — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; City of Santa Fe New Mexico, RB, Series A, 5.00%, <br> 05/15/44<br>| 100 | &nbsp;&nbsp; 97113 |
| **New York — 14.9%** | **New York — 14.9%** |  |
| &nbsp;&nbsp;&nbsp; Buffalo & Erie County Industrial Land Development <br> Corp., Refunding RB, Series A, 5.00%, 06/01/35<br>| 500 | &nbsp;&nbsp; 509684 |
| City of New York, GO, Series G-1, 5.25%, 02/01/53 | 445 | &nbsp;&nbsp; 474205 |
| Metropolitan Transportation Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series C-1, Sustainability Bonds, 5.00%, 11/15/26 | 65 | &nbsp;&nbsp; 66443 |
| &nbsp;&nbsp;&nbsp; Series C-1, Sustainability Bonds, 4.75%, 11/15/45 | 6795 | &nbsp;&nbsp; 6816787 |
| &nbsp;&nbsp;&nbsp; Series C-1, Sustainability Bonds, 5.00%, 11/15/50 | 575 | &nbsp;&nbsp; 584682 |
| &nbsp;&nbsp;&nbsp; Monroe County Industrial Development Corp., Refunding <br> RB, Series A, 4.00%, 07/01/50<br>| 1760 | &nbsp;&nbsp; 1601211 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority, RB, <br> Series BB, 5.25%, 06/15/55<br>| 1075 | &nbsp;&nbsp; 1151029 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series DD, 4.13%, 06/15/46 | 825 | &nbsp;&nbsp; 803604 |
| &nbsp;&nbsp;&nbsp; Series DD, 4.13%, 06/15/47 | 7920 | &nbsp;&nbsp; 7695386 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax <br> Secured Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, Subordinate, 4.00%, 08/01/48 | 2240 | &nbsp;&nbsp; 2100650 |
| &nbsp;&nbsp;&nbsp; Series B-1, Subordinate, 4.00%, 08/01/48 | 2500 | &nbsp;&nbsp; 2321982 |
| &nbsp;&nbsp;&nbsp; Series E, Subordinate, 5.00%, 11/01/53 | 1615 | &nbsp;&nbsp; 1679982 |
| &nbsp;&nbsp;&nbsp; New York Counties Tobacco Trust IV, Refunding RB, <br> Series A, 6.25%, 06/01/41<sup>(b)</sup><br>| 3045 | &nbsp;&nbsp; 2930025 |
| New York Liberty Development Corp., Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Class 2, 5.38%, 11/15/40<sup>(b)</sup> | 1175 | &nbsp;&nbsp; 1175216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (BAM-TCRS), 3.00%, <br> 11/15/51<br>| 1270 | &nbsp;&nbsp; 932810 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **New York (continued)** | **New York (continued)** |  |
| &nbsp;&nbsp;&nbsp; New York Liberty Development Corp., Refunding <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 3.00%, 11/15/51 | 1040 | &nbsp;&nbsp; $751519 |
| New York State Dormitory Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Class A, 5.25%, 05/01/54 | 4800 | &nbsp;&nbsp; 4998838 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/15/44 | 1200 | &nbsp;&nbsp; 1154514 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/15/47 | 2910 | &nbsp;&nbsp; 2740570 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 03/15/54 | 2940 | &nbsp;&nbsp; 2718020 |
| New York Transportation Development Corp., ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.63%, 04/01/40 | 1050 | &nbsp;&nbsp; 1102546 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 12/01/40 | 2250 | &nbsp;&nbsp; 2336973 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 07/01/46 | 1600 | &nbsp;&nbsp; 1593021 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 6.00%, 06/30/60 | 2310 | &nbsp;&nbsp; 2496888 |
| New York Transportation Development Corp., RB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 10/01/35 | 1910 | &nbsp;&nbsp; 1998000 |
| &nbsp;&nbsp;&nbsp; AMT, 4.00%, 10/31/46 | 425 | &nbsp;&nbsp; 379578 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, (AGM), 5.25%, 06/30/60 | 4380 | &nbsp;&nbsp; 4458760 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.50%, 06/30/60 | 2525 | &nbsp;&nbsp; 2577951 |
| &nbsp;&nbsp;&nbsp; New York Transportation Development Corp., Refunding <br> RB, Series A, AMT, Sustainability Bonds, (AGM), <br> 5.25%, 12/31/54<br>| 3430 | &nbsp;&nbsp; 3531827 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, ARB, <br> Series 218, AMT, 4.00%, 11/01/47<br>| 380 | &nbsp;&nbsp; 348744 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, Refunding <br> ARB, Series 223, AMT, 4.00%, 07/15/41<br>| 1150 | &nbsp;&nbsp; 1125117 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority Sales Tax <br> Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 05/15/48 | 6855 | &nbsp;&nbsp; 6450565 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 05/15/52 | 900 | &nbsp;&nbsp; 950424 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, RB, Series A-1, <br> 4.00%, 11/15/54<br>| 2590 | &nbsp;&nbsp; 2384233 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, Refunding RB, <br> Series C, 5.00%, 05/15/47<br>| 6930 | &nbsp;&nbsp; 7196941 |
| &nbsp;&nbsp;&nbsp; Westchester Tobacco Asset Securitization Corp., <br> Refunding RB, Sub-Series C, 4.00%, 06/01/42<br>| 190 | &nbsp;&nbsp; 155078 |
|  |  | &nbsp;&nbsp; 82293803 |
| **North Carolina — 0.4%** | **North Carolina — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; North Carolina Housing Finance Agency, RB, S/F <br> Housing, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 6.00%, 07/01/53<br>| 1930 | &nbsp;&nbsp; 2045487 |
| **North Dakota — 0.9%** | **North Dakota — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; County of Cass North Dakota, Refunding RB, Series B, <br> 5.25%, 02/15/58<br>| 1035 | &nbsp;&nbsp; 1041018 |
| &nbsp;&nbsp;&nbsp; North Dakota Housing Finance Agency, RB, S/F <br> Housing, Series C, Sustainability Bonds, 4.75%, <br> 07/01/49<br>| 3985 | &nbsp;&nbsp; 4038248 |
|  |  | &nbsp;&nbsp; 5079266 |
| **Ohio — 1.1%** | **Ohio — 1.1%** |  |
| &nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement Financing Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-2, Class 1, 4.00%, 06/01/48 | 915 | &nbsp;&nbsp; 792168 |
| &nbsp;&nbsp;&nbsp; Series B-2, Class 2, 5.00%, 06/01/55 | 3000 | &nbsp;&nbsp; 2514118 |
| &nbsp;&nbsp;&nbsp; Columbus Regional Airport Authority, Refunding ARB, <br> Series A, Class A, AMT, 5.50%, 01/01/55<br>| 2330 | &nbsp;&nbsp; 2465022 |
| County of Franklin Ohio, RB, Series A, 5.00%, 12/01/47 | 435 | &nbsp;&nbsp; 438201 |
|  |  | &nbsp;&nbsp; 6209509 |
| **Oklahoma — 0.8%** | **Oklahoma — 0.8%** |  |
| &nbsp;&nbsp;&nbsp; Oklahoma Development Finance Authority, RB, Series B, <br> 5.50%, 08/15/52<br>| 1640 | &nbsp;&nbsp; 1646404 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Oklahoma (continued)** | **Oklahoma (continued)** |  |
| &nbsp;&nbsp;&nbsp; Tulsa County Industrial Authority, Refunding RB, 5.25%, <br> 11/15/45<br>| 1435 | &nbsp;&nbsp; $1434729 |
| &nbsp;&nbsp;&nbsp; Tulsa Municipal Airport Trust Trustees, Refunding ARB, <br> AMT, 6.25%, 12/01/35<br>| 1095 | &nbsp;&nbsp; 1262752 |
|  |  | &nbsp;&nbsp; 4343885 |
| **Oregon**<sup>(c)</sup> **— 0.2%** | **Oregon**<sup>(c)</sup> **— 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Clackamas County School District No. 12 North <br> Clackamas, GO, CAB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, (GTD), 0.00%, 06/15/27<sup>(g)</sup> | 155 | &nbsp;&nbsp; 90691 |
| &nbsp;&nbsp;&nbsp; Series A, (GTD), 0.00%, 06/15/38 | 1290 | &nbsp;&nbsp; 732683 |
|  |  | &nbsp;&nbsp; 823374 |
| **Pennsylvania — 5.1%** | **Pennsylvania — 5.1%** |  |
| &nbsp;&nbsp;&nbsp; Allegheny County Airport Authority, ARB, Series A, AMT, <br> (AGM), 5.50%, 01/01/48<br>| 535 | &nbsp;&nbsp; 564256 |
| &nbsp;&nbsp;&nbsp; City of Philadelphia Pennsylvania Water & Wastewater <br> Revenue, RB, Series C, (AGM), 5.25%, 09/01/54<br>| 5165 | &nbsp;&nbsp; 5526403 |
| &nbsp;&nbsp;&nbsp; Montgomery County Higher Education and Health <br> Authority, Refunding RB, 5.00%, 09/01/48<br>| 385 | &nbsp;&nbsp; 390535 |
| &nbsp;&nbsp;&nbsp; Montgomery County Industrial Development Authority, <br> RB, Series C, 5.00%, 11/15/45<br>| 205 | &nbsp;&nbsp; 205078 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing <br> Authority, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.75%, 06/30/48 | 1405 | &nbsp;&nbsp; 1464856 |
| &nbsp;&nbsp;&nbsp; AMT, 5.25%, 06/30/53 | 2330 | &nbsp;&nbsp; 2360027 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing <br> Authority, Refunding RB, AMT, 5.50%, 11/01/44<br>| 480 | &nbsp;&nbsp; 480278 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Higher Educational Facilities Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/15/55 | 1565 | &nbsp;&nbsp; 1701236 |
| &nbsp;&nbsp;&nbsp; Series B-1, (AGM), 4.25%, 11/01/51 | 4635 | &nbsp;&nbsp; 4281963 |
| &nbsp;&nbsp;&nbsp; Series B-1, (AGM), 5.00%, 11/01/51 | 1075 | &nbsp;&nbsp; 1110856 |
| Pennsylvania Turnpike Commission, RB |  |  |
| &nbsp;&nbsp;&nbsp; Sub-Series B-1, 5.25%, 06/01/47 | 2500 | &nbsp;&nbsp; 2539588 |
| &nbsp;&nbsp;&nbsp; Series A, Subordinate, 4.00%, 12/01/46 | 2065 | &nbsp;&nbsp; 1933163 |
| Philadelphia Authority for Industrial Development, RB |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/01/52 | 440 | &nbsp;&nbsp; 455160 |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 07/01/49 | 3000 | &nbsp;&nbsp; 2792656 |
| &nbsp;&nbsp;&nbsp; Philadelphia Gas Works Co., Refunding RB, Series A, <br> 5.25%, 08/01/49<br>| 2420 | &nbsp;&nbsp; 2567539 |
|  |  | &nbsp;&nbsp; 28373594 |
| **Puerto Rico — 4.5%** | **Puerto Rico — 4.5%** |  |
| &nbsp;&nbsp;&nbsp; Commonwealth of Puerto Rico, GO, Series A-1, <br> Restructured, 5.75%, 07/01/31<br>| 1596 | &nbsp;&nbsp; 1769943 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 4.75%, 07/01/53 | 3475 | &nbsp;&nbsp; 3285619 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.00%, 07/01/58 | 14276 | &nbsp;&nbsp; 13865432 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.78%, 07/01/58 | 3256 | &nbsp;&nbsp; 3061931 |
| &nbsp;&nbsp;&nbsp; Series B-2, Restructured, 4.78%, 07/01/58 | 159 | &nbsp;&nbsp; 149523 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB, CAB, Series A-1, Restructured, 0.00%, <br> 07/01/46<sup>(c)</sup><br>| 6943 | &nbsp;&nbsp; 2416390 |
|  |  | &nbsp;&nbsp; 24548838 |
| **South Carolina — 1.6%** | **South Carolina — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/01/55<sup>(b)</sup> | 335 | &nbsp;&nbsp; 277728 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/48 | 1545 | &nbsp;&nbsp; 1654628 |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/49 | 4200 | &nbsp;&nbsp; 4487259 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **South Carolina (continued)** | **South Carolina (continued)** |  |
| &nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 11/01/50 | 330 | &nbsp;&nbsp; $351763 |
| South Carolina Public Service Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, (AGM), 5.00%, 12/01/55 | 1110 | &nbsp;&nbsp; 1158409 |
| &nbsp;&nbsp;&nbsp; Series B, 5.00%, 12/01/51 | 675 | &nbsp;&nbsp; 688938 |
|  |  | &nbsp;&nbsp; 8618725 |
| **Tennessee — 1.0%** | **Tennessee — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Health & Educational Fcilities Board, Refunding RB, <br> 4.00%, 10/01/49<br>| 445 | &nbsp;&nbsp; 371675 |
| &nbsp;&nbsp;&nbsp; Metropolitan Government of Nashville & Davidson <br> County TN Water & Sewer Revenue, Refunding RB, <br> 5.25%, 07/01/55<br>| 1415 | &nbsp;&nbsp; 1507308 |
| Tennergy Corp., RB, Series A, 5.50%, 10/01/53<sup>(a)</sup> | 3130 | &nbsp;&nbsp; 3394075 |
|  |  | &nbsp;&nbsp; 5273058 |
| **Texas — 11.2%** | **Texas — 11.2%** |  |
| Arlington Higher Education Finance Corp., RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 04/01/62 | 965 | &nbsp;&nbsp; 482500 |
| &nbsp;&nbsp;&nbsp; 7.88%, 11/01/62 | 815 | &nbsp;&nbsp; 489000 |
| &nbsp;&nbsp;&nbsp; Celina Independent School District, GO, (PSF), 4.00%, <br> 02/15/53<br>| 3450 | &nbsp;&nbsp; 3231909 |
| &nbsp;&nbsp;&nbsp; City of Austin Texas Water & Wastewater System <br> Revenue, Refunding RB, 5.00%, 11/15/53<br>| 1420 | &nbsp;&nbsp; 1497333 |
| &nbsp;&nbsp;&nbsp; City of Corpus Christi Texas Utility System Revenue, <br> Refunding RB, 4.13%, 07/15/53<br>| 2550 | &nbsp;&nbsp; 2362787 |
| &nbsp;&nbsp;&nbsp; City of Garland Texas Electric Utility System Revenue, <br> Refunding RB, (AGM), 4.25%, 03/01/48<br>| 425 | &nbsp;&nbsp; 414731 |
| City of Houston Texas Airport System Revenue, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/15/36 | 200 | &nbsp;&nbsp; 219849 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.50%, 07/15/37 | 520 | &nbsp;&nbsp; 568072 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, <br> Refunding ARB, Series A, AMT, Subordinate Lien, <br> 5.50%, 07/01/55<br>| 2855 | &nbsp;&nbsp; 3045881 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, <br> Refunding RB, AMT, 5.00%, 07/01/29<br>| 485 | &nbsp;&nbsp; 485003 |
| City of Houston Texas, GOL, Series A, 5.25%, 03/01/49 | 3085 | &nbsp;&nbsp; 3304076 |
| &nbsp;&nbsp;&nbsp; City of Houston Texas, Refunding GOL, Series A, 5.25%, <br> 03/01/42<br>| 470 | &nbsp;&nbsp; 508904 |
| City of Hutto Texas, GOL, (BAM), 4.13%, 08/01/49 | 1065 | &nbsp;&nbsp; 1021833 |
| &nbsp;&nbsp;&nbsp; Clifton Higher Education Finance Corp., Refunding RB, <br> Series A, (PSF), 4.13%, 08/15/49<br>| 2595 | &nbsp;&nbsp; 2505866 |
| &nbsp;&nbsp;&nbsp; Conroe Independent School District, GO, (PSF), 4.00%, <br> 02/15/50<br>| 1375 | &nbsp;&nbsp; 1288247 |
| &nbsp;&nbsp;&nbsp; County of Harris Texas Toll Road Revenue, Refunding <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 1st Lien, 4.00%, 08/15/49 | 2215 | &nbsp;&nbsp; 2080918 |
| &nbsp;&nbsp;&nbsp; Series A, 1st Lien, 4.00%, 08/15/54 | 1580 | &nbsp;&nbsp; 1453910 |
| &nbsp;&nbsp;&nbsp; County of Harris Texas, Refunding GO, Series A, 4.25%, <br> 09/15/48<br>| 890 | &nbsp;&nbsp; 882632 |
| &nbsp;&nbsp;&nbsp; Harris County-Houston Sports Authority, Refunding RB, <br> Series A, Senior Lien, (AG NPFGC), 0.00%, <br> 11/15/38<sup>(c)</sup><br>| 4750 | &nbsp;&nbsp; 2364053 |
| &nbsp;&nbsp;&nbsp; Longview Independent School District, GO, (PSF), <br> 4.00%, 02/15/49<br>| 2515 | &nbsp;&nbsp; 2381309 |
| &nbsp;&nbsp;&nbsp; Midland County Fresh Water Supply District No. 1, RB, <br> CAB, Series A, 0.00%, 09/15/27<sup>(c)(g)</sup><br>| 10540 | &nbsp;&nbsp; 6052190 |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., <br> RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.50%, 08/15/49 | 3365 | &nbsp;&nbsp; 3692590 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** |  |
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., <br> RB (continued)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 08/15/50<sup>(b)</sup> | 180 | &nbsp;&nbsp; $153053 |
| &nbsp;&nbsp;&nbsp; North Texas Tollway Authority, RB, Series B, 0.00%, <br> 09/01/31<sup>(c)(g)</sup><br>| 640 | &nbsp;&nbsp; 343379 |
| &nbsp;&nbsp;&nbsp; North Texas Tollway Authority, Refunding RB, 4.25%, <br> 01/01/49<br>| 2340 | &nbsp;&nbsp; 2179500 |
| &nbsp;&nbsp;&nbsp; Northwest Independent School District, GO, (PSF), <br> 5.25%, 02/15/55<br>| 1550 | &nbsp;&nbsp; 1655921 |
| &nbsp;&nbsp;&nbsp; Port Authority of Houston of Harris County Texas, ARB, <br> 5.00%, 10/01/51<br>| 1505 | &nbsp;&nbsp; 1551077 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance <br> Corp., RB, 5.00%, 11/15/51<br>| 1280 | &nbsp;&nbsp; 1319334 |
| Tarrant Regional Water District, RB, 4.25%, 09/01/55 | 1405 | &nbsp;&nbsp; 1350551 |
| &nbsp;&nbsp;&nbsp; Texas City Industrial Development Corp., RB, <br> Series 2012, 4.13%, 12/01/45<br>| 95 | &nbsp;&nbsp; 84249 |
| &nbsp;&nbsp;&nbsp; Texas Department of Housing & Community Affairs, RB, <br> S/F Housing, Series C, (GNMA), 5.00%, 09/01/48<br>| 3650 | &nbsp;&nbsp; 3732431 |
| &nbsp;&nbsp;&nbsp; Texas State University System, Refunding RB, 4.00%, <br> 03/15/49<br>| 4690 | &nbsp;&nbsp; 4301923 |
| &nbsp;&nbsp;&nbsp; Texas Transportation Commission State Highway <br> 249 System, RB, CAB<sup>(c)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/40 | 500 | &nbsp;&nbsp; 251761 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/41 | 2000 | &nbsp;&nbsp; 949131 |
| &nbsp;&nbsp;&nbsp; 0.00%, 08/01/42 | 2345 | &nbsp;&nbsp; 1051860 |
| Texas Water Development Board, RB, 4.45%, 10/15/36 | 675 | &nbsp;&nbsp; 723964 |
| &nbsp;&nbsp;&nbsp; Waller Consolidated Independent School District, GO, <br> Series A, (PSF), 4.00%, 02/15/48<br>| 1710 | &nbsp;&nbsp; 1636845 |
|  |  | &nbsp;&nbsp; 61618572 |
| **Utah — 1.5%** | **Utah — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Black Desert Public Infrastructure District, SAB, 5.63%, <br> 12/01/53<sup>(b)</sup><br>| 305 | &nbsp;&nbsp; 308091 |
| &nbsp;&nbsp;&nbsp; City of Salt Lake City Utah Airport Revenue, ARB, <br> Series A, AMT, 5.00%, 07/01/43<br>| 1790 | &nbsp;&nbsp; 1813048 |
| Downtown Revitalization Public Infrastructure District, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 1st Lien, (AGM), 5.50%, 06/01/55 | 1455 | &nbsp;&nbsp; 1567316 |
| &nbsp;&nbsp;&nbsp; Series B, 2nd Lien, (AGM), 5.50%, 06/01/50 | 3450 | &nbsp;&nbsp; 3745278 |
| &nbsp;&nbsp;&nbsp; Series B, 2nd Lien, (AGM), 5.50%, 06/01/55 | 515 | &nbsp;&nbsp; 554339 |
| &nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, RB, 5.00%, <br> 06/15/39<sup>(b)</sup><br>| 100 | &nbsp;&nbsp; 96472 |
| &nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, Refunding RB, <br> 5.00%, 06/15/40<sup>(b)</sup><br>| 135 | &nbsp;&nbsp; 130989 |
|  |  | &nbsp;&nbsp; 8215533 |
| **Virginia — 1.4%** | **Virginia — 1.4%** |  |
| &nbsp;&nbsp;&nbsp; Ballston Quarter Community Development Authority, TA, <br> Series A-1, 5.50%, 03/01/46<br>| 416 | &nbsp;&nbsp; 415460 |
| &nbsp;&nbsp;&nbsp; Ballston Quarter Community Development Authority, TA, <br> CAB, Series A-2, 7.13%, 03/01/59<sup>(h)</sup><br>| 997 | &nbsp;&nbsp; 879670 |
| &nbsp;&nbsp;&nbsp; Henrico County Economic Development Authority, <br> Refunding RB, Series A, 5.00%, 11/01/48<br>| 1485 | &nbsp;&nbsp; 1546037 |
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., Refunding RB, <br> Series B-1, 5.00%, 06/01/47<br>| 1010 | &nbsp;&nbsp; 846385 |
| &nbsp;&nbsp;&nbsp; Virginia Housing Development Authority, RB, M/F <br> Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.60%, 09/01/49 | 2330 | &nbsp;&nbsp; 2329844 |
| &nbsp;&nbsp;&nbsp; Series G, 5.05%, 11/01/47 | 1825 | &nbsp;&nbsp; 1871273 |
|  |  | &nbsp;&nbsp; 7888669 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Washington — 0.5%** | **Washington — 0.5%** |  |
| &nbsp;&nbsp;&nbsp; Washington Health Care Facilities Authority, Refunding <br> RB, Series A, 5.50%, 09/01/55<br>| $435 | &nbsp;&nbsp; $461975 |
| &nbsp;&nbsp;&nbsp; Washington State Housing Finance Commission, <br> Refunding RB, 5.00%, 01/01/43<sup>(b)</sup><br>| 2165 | &nbsp;&nbsp; 2011988 |
|  |  | &nbsp;&nbsp; 2473963 |
| **West Virginia — 0.1%** | **West Virginia — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; City of Martinsburg West Virginia, RB, M/F Housing, <br> Series A-1, 4.63%, 12/01/43<br>| 570 | &nbsp;&nbsp; 562732 |
| **Wisconsin — 3.2%** | **Wisconsin — 3.2%** |  |
| Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 07/01/55<sup>(b)</sup> | 120 | &nbsp;&nbsp; 102976 |
| &nbsp;&nbsp;&nbsp; Series A-1, 4.50%, 01/01/35<sup>(b)</sup> | 190 | &nbsp;&nbsp; 186043 |
| &nbsp;&nbsp;&nbsp; AMT, 6.50%, 12/31/65 | 5110 | &nbsp;&nbsp; 5612253 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 4.00%, 09/30/51 | 5615 | &nbsp;&nbsp; 4658246 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 4.00%, 03/31/56 | 1835 | &nbsp;&nbsp; 1484891 |
| &nbsp;&nbsp;&nbsp; Public Finance Authority, Refunding RB, 5.00%, <br> 09/01/49<sup>(b)</sup><br>| 120 | &nbsp;&nbsp; 110524 |
| &nbsp;&nbsp;&nbsp; Wisconsin Health & Educational Facilities Authority, <br> Refunding RB, 4.00%, 12/01/51<br>| 3280 | &nbsp;&nbsp; 2865219 |
| &nbsp;&nbsp;&nbsp; Wisconsin Housing & Economic Development Authority <br> Home Ownership Revenue, RB, S/F Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 4.85%, 09/01/43<br>| 720 | &nbsp;&nbsp; 737711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Sustainability Bonds, (FHLMC, FNMA, <br> GNMA), 4.75%, 03/01/51<br>| 2075 | &nbsp;&nbsp; 2083000 |
|  |  | &nbsp;&nbsp; 17840863 |
| **Total Municipal Bonds — 103.8%** <br>**(Cost: $560,526,821)** | **Total Municipal Bonds — 103.8%** <br>**(Cost: $560,526,821)** | &nbsp;&nbsp; 572707152 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(i)</sup> |
| **Alabama**<sup>(a)</sup> **— 3.8%** | **Alabama**<sup>(a)</sup> **— 3.8%** |  |
| Black Belt Energy Gas District, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, 5.25%, 12/01/53 | 12500 | &nbsp;&nbsp; 13571584 |
| &nbsp;&nbsp;&nbsp; Series C-1, 5.25%, 02/01/53 | 6702 | &nbsp;&nbsp; 7144792 |
|  |  | &nbsp;&nbsp; 20716376 |
| **California — 2.0%** | **California — 2.0%** |  |
| &nbsp;&nbsp;&nbsp; California Community Choice Financing Authority, RB, <br> Series E-1, Sustainability Bonds, 5.00%, 02/01/54<sup>(a)</sup><br>| 10000 | &nbsp;&nbsp; 10796026 |
| **Colorado — 1.5%** | **Colorado — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; City & County of Denver Colorado Airport System <br> Revenue, Refunding ARB, Series A, AMT, 5.50%, <br> 11/15/53<br>| 7685 | &nbsp;&nbsp; 8109151 |
| **District of Columbia — 6.1%** | **District of Columbia — 6.1%** |  |
| &nbsp;&nbsp;&nbsp; District of Columbia Income Tax Revenue, Refunding <br> RB, Series A, 5.25%, 06/01/50<br>| 10360 | &nbsp;&nbsp; 11194949 |
| &nbsp;&nbsp;&nbsp; Metropolitan Washington Airports Authority Aviation <br> Revenue, Refunding ARB, Series A, AMT, 5.50%, <br> 10/01/54<br>| 11620 | &nbsp;&nbsp; 12296260 |
| &nbsp;&nbsp;&nbsp; Washington Metropolitan Area Transit Authority <br> Dedicated Revenue, RB, Series A, 2nd Lien, 5.50%, <br> 07/15/60<br>| 9280 | &nbsp;&nbsp; 10087784 |
|  |  | &nbsp;&nbsp; 33578993 |
| **Florida — 5.9%** | **Florida — 5.9%** |  |
| &nbsp;&nbsp;&nbsp; City of Melbourne Florida Water & Sewer Revenue, RB, <br> 5.00%, 11/15/50<br>| 6910 | &nbsp;&nbsp; 7236538 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** |  |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, <br> Refunding ARB, Series A, AMT, 5.25%, 10/01/50<br>| 6150 | &nbsp;&nbsp; $6455879 |
| &nbsp;&nbsp;&nbsp; Greater Orlando Aviation Authority, ARB, AMT, 5.25%, <br> 10/01/51<br>| 10380 | &nbsp;&nbsp; 10912384 |
| Tender Opt Bd Tr Rcpts, 5.25%, 10/01/55 | 7420 | &nbsp;&nbsp; 7911708 |
|  |  | &nbsp;&nbsp; 32516509 |
| **Michigan — 2.4%** | **Michigan — 2.4%** |  |
| &nbsp;&nbsp;&nbsp; Michigan State Housing Development Authority, RB, M/F <br> Housing, Series A, 5.00%, 10/01/48<br>| 12964 | &nbsp;&nbsp; 13333126 |
| **Missouri — 1.2%** | **Missouri — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Missouri Housing Development Commission, RB, S/F <br> Housing, Series E, 4.60%, 11/01/49<br>| 6920 | &nbsp;&nbsp; 6861341 |
| **Nebraska — 1.0%** | **Nebraska — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Central Plains Energy Project, RB, Series 1, 5.00%, <br> 05/01/53<sup>(a)</sup><br>| 5240 | &nbsp;&nbsp; 5526856 |
| **New Jersey — 1.0%** | **New Jersey — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; New Jersey Turnpike Authority, RB, Series B, 5.25%, <br> 01/01/49<br>| 5395 | &nbsp;&nbsp; 5781576 |
| **New York — 13.6%** | **New York — 13.6%** |  |
| City of New York, GO, Series B, 5.25%, 10/01/47 | 6560 | &nbsp;&nbsp; 6913557 |
| &nbsp;&nbsp;&nbsp; New York City Housing Development Corp., RB, M/F <br> Housing, Series E-1, Sustainability Bonds, 4.70%, <br> 11/01/48<sup>(j)</sup><br>| 5540 | &nbsp;&nbsp; 5592577 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax <br> Secured Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.25%, 05/01/48 | 9510 | &nbsp;&nbsp; 10089113 |
| &nbsp;&nbsp;&nbsp; Series C-1, Subordinate, 5.00%, 05/01/50 | 4736 | &nbsp;&nbsp; 4941324 |
| &nbsp;&nbsp;&nbsp; Series H-1, Subordinate, 5.00%, 11/01/50 | 3060 | &nbsp;&nbsp; 3198340 |
| New York State Dormitory Authority, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 03/15/47<sup>(j)</sup> | 10370 | &nbsp;&nbsp; 10926473 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 03/15/53<sup>(j)</sup> | 6971 | &nbsp;&nbsp; 7276738 |
| &nbsp;&nbsp;&nbsp; Series E, 5.00%, 03/15/46 | 8820 | &nbsp;&nbsp; 9038850 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, ARB, <br> Series 221, AMT, 4.00%, 07/15/55<br>| 2820 | &nbsp;&nbsp; 2533408 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, Refunding <br> ARB, AMT, 5.00%, 01/15/47<sup>(j)</sup><br>| 8640 | &nbsp;&nbsp; 8904024 |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, RB, Series A, <br> 5.50%, 11/15/57<br>| 5339 | &nbsp;&nbsp; 5713221 |
|  |  | &nbsp;&nbsp; 75127625 |
| **Oregon — 2.2%** | **Oregon — 2.2%** |  |
| &nbsp;&nbsp;&nbsp; Port of Portland Oregon Airport Revenue, Refunding <br> ARB, Series 29, AMT, Sustainability Bonds, 5.50%, <br> 07/01/48<br>| 11628 | &nbsp;&nbsp; 12378366 |
| **Pennsylvania — 4.8%** | **Pennsylvania — 4.8%** |  |
| Pennsylvania Housing Finance Agency, RB, S/F Housing |  |  |
| &nbsp;&nbsp;&nbsp; Series 143A, Sustainability Bonds, 6.25%, 10/01/53 | 10191 | &nbsp;&nbsp; 11049162 |
| &nbsp;&nbsp;&nbsp; Series 145A, Sustainability Bonds, 4.75%, 10/01/49 | 8620 | &nbsp;&nbsp; 8658733 |
| &nbsp;&nbsp;&nbsp; Series 147 A, Sustainability Bonds, 4.70%, 10/01/49<sup>(j)</sup> | 6750 | &nbsp;&nbsp; 6798171 |
|  |  | &nbsp;&nbsp; 26506066 |
| **South Carolina — 1.0%** | **South Carolina — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, Refunding RB, <br> Series B-1, 5.25%, 02/01/54<sup>(a)</sup><br>| 4842 | &nbsp;&nbsp; 5266411 |
| **Texas — 8.7%** | **Texas — 8.7%** |  |
| &nbsp;&nbsp;&nbsp; Austin Community College District, Refunding GOL, <br> 5.25%, 08/01/55<br>| 11740 | &nbsp;&nbsp; 12478014 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** |  |
| &nbsp;&nbsp;&nbsp; City of Houston Texas Airport System Revenue, <br> Refunding ARB, Series A, AMT, Subordinate Lien, <br> 5.50%, 07/01/55<br>| 14377 | &nbsp;&nbsp; $15338174 |
| &nbsp;&nbsp;&nbsp; City of San Antonio Texas Electric & Gas Systems <br> Revenue, Refunding RB, Series A, 5.25%, 02/01/49<br>| 6702 | &nbsp;&nbsp; 7189818 |
| &nbsp;&nbsp;&nbsp; North Texas Municipal Water District, RB, 5.00%, <br> 06/01/50<sup>(j)</sup><br>| 5198 | &nbsp;&nbsp; 5412143 |
| &nbsp;&nbsp;&nbsp; Terrell Independent School District, GO, (PSF), 5.25%, <br> 08/01/55<br>| 7180 | &nbsp;&nbsp; 7708006 |
|  |  | &nbsp;&nbsp; 48126155 |
| **Utah — 1.7%** | **Utah — 1.7%** |  |
| &nbsp;&nbsp;&nbsp; City of Salt Lake City Utah Airport Revenue, ARB, <br> Series A, AMT, 5.50%, 07/01/53<sup>(j)</sup><br>| 9063 | &nbsp;&nbsp; 9570671 |
| **Washington — 3.4%** | **Washington — 3.4%** |  |
| Port of Seattle Washington, Refunding ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, Intermediate Lien, 5.25%, 07/01/49 | 6240 | &nbsp;&nbsp; 6571811 |
| &nbsp;&nbsp;&nbsp; Series C, AMT, 5.00%, 08/01/46 | 12100 | &nbsp;&nbsp; 12368618 |
|  |  | &nbsp;&nbsp; 18940429 |
| **Wisconsin — 1.1%** | **Wisconsin — 1.1%** |  |
| &nbsp;&nbsp;&nbsp; Wisconsin Housing & Economic Development Authority <br> Housing Revenue, RB, M/F Housing<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.10%, 11/01/43 | 2658 | &nbsp;&nbsp; 2637911 |
| &nbsp;&nbsp;&nbsp; Series A, 4.45%, 05/01/57 | 3322 | &nbsp;&nbsp; 3297389 |
|  |  | &nbsp;&nbsp; 5935300 |
| **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 61.4%** <br>**(Cost: $330,513,816)** | **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 61.4%** <br>**(Cost: $330,513,816)** | &nbsp;&nbsp; 339070977 |
| **Total Long-Term Investments — 165.2%** <br>**(Cost: $891,040,637)** | **Total Long-Term Investments — 165.2%** <br>**(Cost: $891,040,637)** | &nbsp;&nbsp; 911778129 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, MuniCash, Institutional <br> Shares, 3.01%<sup>(k)(l)</sup><br>| 1488704 | &nbsp;&nbsp; 1488853 |
| **Total Short-Term Securities — 0.3%** <br>**(Cost: $1,488,853)** | **Total Short-Term Securities — 0.3%** <br>**(Cost: $1,488,853)** | &nbsp;&nbsp; 1488853 |
| **Total Investments — 165.5%** <br>**(Cost: $892,529,490)** | **Total Investments — 165.5%** <br>**(Cost: $892,529,490)** | &nbsp;&nbsp; 913266982 |
| **Other Assets Less Liabilities — 3.3%** | **Other Assets Less Liabilities — 3.3%** | &nbsp;&nbsp; 18511201 |
| **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (37.3)%** | **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (37.3)%** | &nbsp;&nbsp; (205770634)<br>|
| **VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(31.5)%** | **VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(31.5)%** | &nbsp;&nbsp; (174100000)<br>|
| **Net Assets Applicable to Common Shares — 100.0%** | **Net Assets Applicable to Common Shares — 100.0%** | &nbsp;&nbsp; $551907549 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Zero-coupon bond.

<sup>(d)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(e)</sup> Non-income producing security.

<sup>(f)</sup> When-issued security.

<sup>(g)</sup> U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. 

<sup>(h)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

<sup>(i)</sup> Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. 

<sup>(j)</sup> All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between July 1, 2031 to October 1, 2042, is $48,163,478. 

<sup>(k)</sup> Affiliate of the Fund.

<sup>(l)</sup> Annualized 7-day yield as of period end.

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/25*<br>| *Shares* <br>*Held at* <br>*10/31/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, MuniCash, Institutional Shares | $—<br> $1488853 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $1488853 | 1488704 | $430 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $572707152 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $572707152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 339070977 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 339070977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 1488853 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1488853 |
|  | &nbsp;&nbsp; $1488853 | &nbsp;&nbsp;&nbsp;&nbsp; $911778129 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $913266982 |

---

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TOB Trust Certificates | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(204802207)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(204802207)<br>|
| &nbsp;&nbsp;&nbsp; VMTP Shares at Liquidation Value | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (174100000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (174100000)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(378902207)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(378902207)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGM | Assured Guaranty Municipal Corp. |
| AGM-CR | AGM Insured Custodial Receipt |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| AMT | Alternative Minimum Tax |
| ARB | Airport Revenue Bonds  |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock Municipal Income Trust II (BLE)** 

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| BAM | Build America Mutual Assurance Co. |
| BAM-TCRS | &nbsp;&nbsp;&nbsp; Build America Mutual Assurance Co. - Transferable <br> Custodial Receipts<br>|
| CAB | Capital Appreciation Bonds |
| CR | Custodian Receipt |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation Bonds |
| GOL | General Obligation Ltd. |
| GTD | GTD Guaranteed |
| M/F | Multi-Family |
| NPFGC | National Public Finance Guarantee Corp. |
| PSF | Permanent School Fund |
| RB | Revenue Bonds |
| S/F | Single-Family |
| SAB | Special Assessment Bonds |
| SAN | State Aid Notes  |
| TA | Tax Allocation |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock Municipal Income Trust II

- **b. Investment Company Act file number:** 811-21126

- **c. CIK number of Registrant:** 0001176194

- **d. LEI of Registrant:** 17UVWS2OK706BUPLKK60

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** BlackRock Municipal Income Trust II

- **c. LEI of Series:** 17UVWS2OK706BUPLKK60

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $936073724.42

**Total Liabilities:** $384051739.99

**Net Assets:** $552021984.43

**Delayed Delivery Securities:** $1147168.00

**Cash Not Reported:** $9436667.45

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 300802.19000000 | **1-Year:** 10562.86000000 | **5-Year:** 152923.20000000 | **10-Year:** 135094.78000000 | **30-Year:** 177855.11000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 8638.62000000 | **1-Year:** 779.80000000 | **5-Year:** 10834.78000000 | **10-Year:** 15443.11000000 | **30-Year:** 36105.15000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.38%                | 5.25%                | 2.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3070610.70             | $7577158.18                                |
| Month 2  | $-780783.65              | $25491398.29                               |
| Month 3  | $-330342.44              | $11188547.20                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### Schedule of Portfolio Investments

| Name                                                                             | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Allegheny County Airport Authority                                               | ALLEGHENY CNTY PA ARPT AUTH ARPT REVENUE                     | CUSIP: 01728LHD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $564255.62    | 0.10%             | 2048-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BAN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1171720.65   | 0.21%             | 2050-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $190682.75    | 0.03%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $146805.81    | 0.03%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority                                         | ARIZONA ST INDL DEV AUTH EDU REVENUE                         | CUSIP: 04052BJX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $204666.01    | 0.04%             | 2039-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority                                           | ARKANSAS DEV FIN AUTH ENVIRONMENTAL REVENUE                  | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $995148.38    | 0.18%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $489000.00    | 0.09%             | 2062-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                          | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 041807CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $482500.00    | 0.09%             | 2062-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Water & Wastewater System Revenue                              | AUSTIN TX WTR & WSTWTR SYS REVENUE                           | CUSIP: 052477YT7<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1497333.20   | 0.27%             | 2053-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                 | BALLSTON QUARTER CMNTY DEV AUTH VA REVENUE                   | CUSIP: 058696AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    416000 | PA      | $415460.03    | 0.08%             | 2046-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ballston Quarter Community Development Authority                                 | BALLSTON QUARTER CMNTY DEV AUTH VA REVENUE                   | CUSIP: 058696AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    997000 | PA      | $879669.95    | 0.16%             | 2059-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Baltimore MD                                                             | BALTIMORE MD SPL OBLIG                                       | CUSIP: 05923TBX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135826.08    | 0.02%             | 2033-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TAM9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2925000 | PA      | $2945141.55   | 0.53%             | 2052-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TEV5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2542426.81   | 0.46%             | 2056-05-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Black Desert Public Infrastructure District                                      | BLACK DESERT PUB INFRASTRUCTURE DIST UT SPL ASSMNT           | CUSIP: 09204TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $308090.66    | 0.06%             | 2053-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| County of Broward FL Airport System Revenue                                      | BROWARD CNTY FL ARPT SYS REVENUE                             | CUSIP: 114894YS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $612028.98    | 0.11%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $792168.02    | 0.14%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                                   | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2514117.60   | 0.46%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp                           | BUFFALO & ERIE CNTY NY INDL LAND DEV CORP REVENUE            | CUSIP: 11943KCX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509683.50    | 0.09%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JGF7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2233714.49   | 0.40%             | 2056-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                  | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NDE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $289194.99    | 0.05%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                      | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE                      | CUSIP: 130179GV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2315000 | PA      | $2656099.51   | 0.48%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                 | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UYK8<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503913.35   | 0.27%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                            | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2555000 | PA      | $2044000.00   | 0.37%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                           | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048VCA4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    780000 | PA      | $683943.31    | 0.12%             | 2047-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                 | CALIFORNIA ST POLL CONTROL FING AUTH WTR FURNISHING REVENUE  | CUSIP: 13054WAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2130070.29   | 0.39%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                              | CALIFORNIA SCH FIN AUTH SCH FAC REVENUE                      | CUSIP: 13059TCT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700026.52   | 0.31%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                      | CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE                    | CUSIP: 13067RCZ4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    855000 | PA      | $848367.77    | 0.15%             | 2062-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CCZ0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    190000 | PA      | $165025.18    | 0.03%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                         | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CFG9<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $87181.33     | 0.02%             | 2057-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Cass ND                                                                | CASS CNTY ND HLTH FAC REVENUE                                | CUSIP: 148047BF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1041017.49   | 0.19%             | 2058-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Celebration Pointe Community Development District No 1                           | CELEBRATION POINTE CMNTY DEV DIST NO 1 FL SPL ASSMNT REVENUE | CUSIP: 15102HAE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $144000.00    | 0.03%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Celebration Pointe Community Development District No 1                           | CELEBRATION POINTE CMNTY DEV DIST NO 1 FL SPL ASSMNT REVENUE | CUSIP: 15102HAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $424000.00    | 0.08%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Celina Independent School District                                               | CELINA TX INDEP SCH DIST                                     | CUSIP: 151145YA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3231908.94   | 0.59%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Centerra Metropolitan District No 1                                              | CENTERRA CO MET DIST #1 SPL REVENUE                          | CUSIP: 15200XAG8<br>LEI: 549300SHE5ZPSMGZH793 | Long             | DBT              | MUN               | US        |    250000 | PA      | $247852.30    | 0.04%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505A63<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1146655.07   | 0.21%             | 2043-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505QP4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    945000 | PA      | $944982.99    | 0.17%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505SW7<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1619559.20   | 0.29%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TG1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    710000 | PA      | $710017.61    | 0.13%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505TJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    645000 | PA      | $641502.04    | 0.12%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $911917.50    | 0.17%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2359189.56   | 0.43%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505XR2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    535000 | PA      | $517418.40    | 0.09%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                       | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505ZL3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2414767.51   | 0.44%             | 2050-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                             | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 167593L59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003290.90   | 0.18%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clackamas County School District No 12 North Clackamas                           | CLACKAMAS CNTY OR SCH DIST #12 NORTH CLACKAMAS               | CUSIP: 179093LA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $90690.33     | 0.02%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Clackamas County School District No 12 North Clackamas                           | CLACKAMAS CNTY OR SCH DIST #12 NORTH CLACKAMAS               | CUSIP: 179093LF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $732683.24    | 0.13%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                            | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145SU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2595000 | PA      | $2505865.90   | 0.45%             | 2049-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWP5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    595000 | PA      | $648577.37    | 0.12%             | 2039-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWT7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    370000 | PA      | $389962.35    | 0.07%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                             | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWU4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    920000 | PA      | $949640.47    | 0.17%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Columbus Regional Airport Authority                                              | COLUMBUS OH REGL ARPT AUTH REVENUE                           | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2465022.57   | 0.45%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Conroe Independent School District                                               | CONROE TX INDEP SCH DIST                                     | CUSIP: 2084185M1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1288246.85   | 0.23%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Corpus Christi TX Utility System Revenue                                 | CORPUS CHRISTI TX UTILITY SYSREVENUE                         | CUSIP: 220245Y73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2362787.42   | 0.43%             | 2053-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182QY5<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1167038.75   | 0.21%             | 2053-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | DENVER CITY & CNTY CO ARPT REVENUE                           | CUSIP: 249182TM8<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1419776.18   | 0.26%             | 2045-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI Water Supply System Revenue                                   | DETROIT MI WTR SPLY SYS REVENUE                              | CUSIP: 251256CQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5012.60      | 0.00%             | 2036-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                      | DISTRICT OF COLUMBIA HSG FIN AGY                             | CUSIP: 254768SQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2348210.93   | 0.43%             | 2039-09-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA                                             | CUSIP: 25476FA57<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2780000 | PA      | $2952094.23   | 0.53%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA REVENUE                                     | CUSIP: 25483VUQ5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1298122.37   | 0.24%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                             | DIST OF COLUMBIA TAX INCR REVENUE                            | CUSIP: 254840DA6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    540000 | PA      | $540363.69    | 0.10%             | 2041-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| District of Columbia Tobacco Settlement Financing Corp                           | DIST OF COLUMBIA TOBACCO SETTLEMENT FING CORP                | CUSIP: 254842AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8110000 | PA      | $8364254.18   | 1.52%             | 2040-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Downtown Revitalization Public Infrastructure District                           | DOWNTOWN REVITALIZATION PUBLIC INFRASTRUCTURE DIST UT SALES  | CUSIP: 26118TAX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1567315.82   | 0.28%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Downtown Revitalization Public Infrastructure District                           | DOWNTOWN REVITALIZATION PUBLIC INFRASTRUCTURE DIST UT SALES  | CUSIP: 26118TBU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3745278.26   | 0.68%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Downtown Revitalization Public Infrastructure District                           | DOWNTOWN REVITALIZATION PUBLIC INFRASTRUCTURE DIST UT SALES  | CUSIP: 26118TBV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $554339.05    | 0.10%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5685000 | PA      | $5308317.59   | 0.96%             | 2048-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Duluth Economic Development Authority                                            | DULUTH MN ECON DEV AUTH HLTH CARE FACS REVENUE               | CUSIP: 26444CHF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3067732.70   | 0.56%             | 2058-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Parish of East Baton Rouge Capital Improvements District                         | EAST BATON ROUGE PARISH LA CAPITAL IMPTS DIST MOVEBR SALES T | CUSIP: 270773BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1446729.45   | 0.26%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Point Business & Industrial Development Authority                           | EAST PT GA BUSINESS & INDL DEV AUTHORITY REVENUE             | CUSIP: 274502AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $285402.20    | 0.05%             | 2062-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UKQ0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    115000 | PA      | $108689.34    | 0.02%             | 2056-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                                 | FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                 | CUSIP: 34061XAB8<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    180000 | PA      | $181789.97    | 0.03%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida State Board of Governors                                                 | FLORIDA ST BRD GOVERNORS FL STUNIV ATHLETICS ASSN REVENUE    | CUSIP: 34157NBE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6613370.40   | 1.20%             | 2053-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| City of Fort Lauderdale FL Water & Sewer Revenue                                 | FORT LAUDERDALE FL WTR & SWR REVENUE                         | CUSIP: 347658ZX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2920000 | PA      | $3190399.30   | 0.58%             | 2048-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Franklin OH                                                            | FRANKLIN CNTY OH REVENUE                                     | CUSIP: 353202FP4<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    435000 | PA      | $438200.99    | 0.08%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Garland TX Electric Utility System Revenue                               | GARLAND TX ELEC UTILITY SYS REVENUE                          | CUSIP: 366133TJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $414730.68    | 0.08%             | 2048-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Glendale Industrial Development Authority                                        | GLENDALE AZ INDL DEV AUTH SENIOR LIVING FACS REVENUE         | CUSIP: 378287BA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $86293.22     | 0.02%             | 2056-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harris County-Houston Sports Authority                                           | HARRIS CNTY-HOUSTON TX SPORTS AUTH                           | CUSIP: 413893CL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4750000 | PA      | $2364052.68   | 0.43%             | 2038-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Harris TX                                                              | HARRIS CNTY TX                                               | CUSIP: 414005Y85<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |    890000 | PA      | $882632.49    | 0.16%             | 2048-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| County of Harris TX Toll Road Revenue                                            | HARRIS CNTY TX TOLL ROAD REVENUE                             | CUSIP: 41423PDY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2215000 | PA      | $2080917.85   | 0.38%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Harris TX Toll Road Revenue                                            | HARRIS CNTY TX TOLL ROAD REVENUE                             | CUSIP: 41423PDZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1580000 | PA      | $1453910.47   | 0.26%             | 2054-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii Airports System Revenue                                          | HAWAII ST DEPT OF TRANSPRTN ARPTS DIV LEASE REVENUE COPS     | CUSIP: 419808AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $811512.03    | 0.15%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Henrico County Economic Development Authority                                    | HENRICO CNTY VA ECON DEV AUTH HLTH FACS REVENUE              | CUSIP: 42605XAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1546037.21   | 0.28%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Industrial Development Authority                             | HILLSBOROUGH CNTY FLA INDL DEVAUTH HEALTH SYS REVENUE        | CUSIP: 43233KAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $496292.64    | 0.09%             | 2049-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hillsborough County Industrial Development Authority                             | HILLSBOROUGH CNTY FLA INDL DEVAUTH HEALTH SYS REVENUE        | CUSIP: 43233KAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1916367.68   | 0.35%             | 2051-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| City of Houston TX                                                               | HOUSTON TX                                                   | CUSIP: 442332DF6<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    470000 | PA      | $508903.69    | 0.09%             | 2042-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX                                                               | HOUSTON TX                                                   | CUSIP: 442332ED0<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   3085000 | PA      | $3304076.03   | 0.60%             | 2049-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $485002.96    | 0.09%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $219848.94    | 0.04%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $568072.34    | 0.10%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349JV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2855000 | PA      | $3045881.02   | 0.55%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Hutto TX                                                                 | HUTTO TX                                                     | CUSIP: 448474ZR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1021832.78   | 0.19%             | 2049-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                                | IDAHO ST HLTH FACS AUTH REVENUE                              | CUSIP: 451295H44<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    895000 | PA      | $856550.62    | 0.16%             | 2053-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                                | IDAHO ST HLTH FACS AUTH REVENUE                              | CUSIP: 451295H77<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2173955.42   | 0.39%             | 2053-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                              | IDAHO ST HSG & FIN ASSN NONPROFIT FACS REVENUE               | CUSIP: 45129GKM6<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1280588.13   | 0.23%             | 2052-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                              | IDAHO ST HSG & FIN ASSN SALES TAX REVENUE                    | CUSIP: 45130ABT1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3502811.00   | 0.63%             | 2048-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                           | ILLINOIS ST HSG DEV AUTH REVENUE                             | CUSIP: 45203MKB6<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2780000 | PA      | $2980693.20   | 0.54%             | 2052-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                           | ILLINOIS ST HSG DEV AUTH REVENUE                             | CUSIP: 45203MUH2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1805115.71   | 0.33%             | 2054-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EA32<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3920000 | PA      | $3577376.32   | 0.65%             | 2047-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FN50<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |      5000 | PA      | $4868.92      | 0.00%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                       | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FYF6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45786.24     | 0.01%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    505000 | PA      | $524798.68    | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                  | CUSIP: 452153FK0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1173619.56   | 0.21%             | 2043-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YGB1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1553578.70   | 0.28%             | 2046-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                        | INDIANA ST FIN AUTH HLTH SYS REVENUE                         | CUSIP: 45470YGC9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    495000 | PA      | $532590.05    | 0.10%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                          | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2440943.93   | 0.44%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| County of Jefferson AL Sewer Revenue                                             | JEFFERSON CNTY AL SWR REVENUE WARRANTS                       | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4580000 | PA      | $4774062.39   | 0.86%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ARPT SPL OBLIG                  | CUSIP: 48504NBD0<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1719285.13   | 0.31%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas City Industrial Development Authority                                     | KANSAS CITY MO INDL DEV AUTH ARPT SPL OBLIG                  | CUSIP: 48504NBF5<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1729446.88   | 0.31%             | 2055-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority                          | KENTUCKY PUB TRANSPRTN INFRASTRUCTURE AUTH TOLL REVENUE      | CUSIP: 491397AU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1876480.21   | 0.34%             | 2043-07-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KBA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $182903.02    | 0.03%             | 2037-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KBB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $185991.93    | 0.03%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                              | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $501192.07    | 0.09%             | 2054-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Las Vegas Valley Water District                                                  | LAS VEGAS VLY NV WTR DIST                                    | CUSIP: 517845TK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3145000 | PA      | $3370628.59   | 0.61%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Lenexa KS                                                                | LENEXA KS HLTH CARE FAC REVENUE                              | CUSIP: 526039CU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $394150.68    | 0.07%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Longview Independent School District                                             | LONGVIEW TX INDEP SCH DIST                                   | CUSIP: 543264ZJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2381308.89   | 0.43%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                       | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 5444453D9<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2495811.92   | 0.45%             | 2055-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                       | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445C64<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1300203.43   | 0.24%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                            | LOUISIANA PUB FACS AUTH REVENUE                              | CUSIP: 546399RQ1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2705000 | PA      | $2702135.68   | 0.49%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lower Alabama Gas District/The                                                   | LOWER AL GAS DIST GAS PROJ REVENUE                           | CUSIP: 547804AE4<br>LEI: 549300YTI1NTDG2OVU42 | Long             | DBT              | MUN               | US        |   7465000 | PA      | $8068831.91   | 1.46%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                      | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DEE8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5251859.50   | 0.95%             | 2052-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                 | MARICOPA CNTY AZ INDL DEV AUTH EDUCTNL FACS REVENUE          | CUSIP: 56678RAQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $608349.33    | 0.11%             | 2058-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| City of Martinsburg WV                                                           | MARTINSBURG WV MF HSG REVENUE                                | CUSIP: 573612AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $562731.53    | 0.10%             | 2043-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                               | MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE              | CUSIP: 57422JBY3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1556828.37   | 0.28%             | 2047-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                    | MASSACHUSETTS ST                                             | CUSIP: 57582R4C7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1895130.09   | 0.34%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3599739.62   | 0.65%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57585BPB8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4770000 | PA      | $5158423.49   | 0.93%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57585BPD4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2768711.61   | 0.50%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                         | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57585BPE2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2860000 | PA      | $3090333.53   | 0.56%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                             | MASSACHUSETTS ST HSG FIN AGY                                 | CUSIP: 57586NS51<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    645000 | PA      | $603617.32    | 0.11%             | 2047-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                     | MASSACHUSETTS ST PORT AUTH                                   | CUSIP: 575896YJ8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1244228.83   | 0.23%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                        | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                      | CUSIP: 57604TKD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1948797.00   | 0.35%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | MET GOVT NASHVILLE & DAVIDSONCNTY TN HLTH & EDUCTNL FAC BRD  | CUSIP: 592041YP6<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |    445000 | PA      | $371674.77    | 0.07%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue  | MET GOVT NASHVILLE & DAVIDSON CNTY TN WTR & SWR REVENUE      | CUSIP: 5920983R6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1507307.81   | 0.27%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL DEDICATED ST TAX REVENUE       | CUSIP: 592248BB3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   8680000 | PA      | $3720392.09   | 0.67%             | 2044-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250BM5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280062.52    | 0.05%             | 2053-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250CK8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   3020000 | PA      | $641451.02    | 0.12%             | 2056-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250CL6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2745000 | PA      | $2732922.55   | 0.50%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250DE1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2165000 | PA      | $481275.82    | 0.09%             | 2056-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                                         | MET PIER & EXPOSITION AUTH IL REVENUE                        | CUSIP: 592250DN1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1452726.24   | 0.26%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   6795000 | PA      | $6816786.81   | 1.23%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    575000 | PA      | $584682.25    | 0.11%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                            | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261APW1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |     65000 | PA      | $66443.08     | 0.01%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue              | MET WASHINGTON DC ARPTS AUTH DULLES TOLL ROAD REVENUE        | CUSIP: 592643DF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5985000 | PA      | $5331218.95   | 0.97%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                       | MICHIGAN ST FIN AUTH ACT 38 FACS SENIOR REVEUE               | CUSIP: 59447NBE5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    870000 | PA      | $911681.96    | 0.17%             | 2057-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Michigan State Building Authority                                                | MICHIGAN ST BLDG AUTH REVENUE                                | CUSIP: 594615KN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $510304.19    | 0.09%             | 2052-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                          | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1681820.78   | 0.30%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Midland County Fresh Water Supply District No 1                                  | MIDLAND CNTY TX FRESH WTR SPLY DIST #1 REVENUE               | CUSIP: 597495BA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10540000 | PA      | $6052190.26   | 1.10%             | 2037-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                                 | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416TYA0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1744427.75   | 0.32%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                                     | MISSISSIPPI ST DEV BANK SPL OBLG                             | CUSIP: 60534TQH1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1209492.56   | 0.22%             | 2040-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE       | CUSIP: 60637AMK5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   3455000 | PA      | $3085166.09   | 0.56%             | 2049-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri               | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE       | CUSIP: 60637AXL1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   4380000 | PA      | $4141498.93   | 0.75%             | 2055-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY                                     | MONROE CNTY NY INDL DEV CORP REVENUE                         | CUSIP: 61075TUV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1601211.22   | 0.29%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                          | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603YY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $390535.53    | 0.07%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                            | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 61360PCM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $205077.96    | 0.04%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GEORGIA                                    | CUSIP: 6262077H1<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    520000 | PA      | $458478.28    | 0.08%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GA                                         | CUSIP: 62620HEL2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1895678.28   | 0.34%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                                               | NEW YORK CNTYS NY TOBACCO TRUST IV                           | CUSIP: 62947YAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3045000 | PA      | $2930025.37   | 0.53%             | 2041-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825808 | PA      | $822702.86    | 0.15%             | 2041-01-20      | Floating      | 4.09%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WBK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1972469.46   | 0.36%             | 2037-09-28      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3215000 | PA      | $3382081.30   | 0.61%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                         | NATIONAL FIN AUTH NH MF AFFORDABLE HSG                       | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1299730.45   | 0.24%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FIN CORP TX HOSP REVENUE          | CUSIP: 645424BP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3365000 | PA      | $3692590.15   | 0.67%             | 2049-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                              | NEW HOPE CULTURAL EDU FACS FINCORP TX EDU REVENUE            | CUSIP: 64542QBP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $153052.56    | 0.03%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577B5G5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   6405000 | PA      | $6522867.37   | 1.18%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH ECON DEV REVENUE                 | CUSIP: 64577HMG3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3315731 | PA      | $3428186.55   | 0.62%             | 2028-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH ECON DEV REVENUE                 | CUSIP: 64577HMH1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    705000 | PA      | $709131.23    | 0.13%             | 2031-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEG7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1477304.40   | 0.27%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XEH5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2403369.27   | 0.44%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority                            | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE               | CUSIP: 645790QD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4980000 | PA      | $4590126.76   | 0.83%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501342.05   | 0.27%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                        | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 645918Z97<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    530000 | PA      | $530999.16    | 0.10%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080UP4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    665000 | PA      | $513031.61    | 0.09%             | 2049-12-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080VG3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1588319.16   | 0.29%             | 2050-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                         | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE   | CUSIP: 646080YX3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    690000 | PA      | $707644.47    | 0.13%             | 2045-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461367L9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1578343.18   | 0.29%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136Y54<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    415000 | PA      | $415125.50    | 0.08%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 64613CCU0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   7330000 | PA      | $7497520.55   | 1.36%             | 2040-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 64613CEG9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   3465000 | PA      | $3637946.81   | 0.66%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                   | NEW JERSEY ST TRANSPRTN TRUSTFUND AUTH                       | CUSIP: 64613CFC7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1869461.57   | 0.34%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                 | CUSIP: 646140JF1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2613072.31   | 0.47%             | 2055-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1175216.32   | 0.21%             | 2040-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $751518.66    | 0.14%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp                                                | NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | CUSIP: 649519EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1270000 | PA      | $932810.05    | 0.17%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966SMF0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    445000 | PA      | $474204.82    | 0.09%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XG69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2321982.50   | 0.42%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XX94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2100650.50   | 0.38%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GE42<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    825000 | PA      | $803604.20    | 0.15%             | 2046-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GE59<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   7920000 | PA      | $7695385.63   | 1.39%             | 2047-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GL85<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1151029.05   | 0.21%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue          | NEW YORK CITY NY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JPT9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1679981.62   | 0.30%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990F6W9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2940000 | PA      | $2718020.00   | 0.49%             | 2054-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FA38<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2980000 | PA      | $2806493.97   | 0.51%             | 2047-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990FYM0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1154513.52   | 0.21%             | 2044-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 65000B6M5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4800000 | PA      | $4998838.08   | 0.91%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP EXEMPT FAC REVENUE            | CUSIP: 650110AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $379577.83    | 0.07%             | 2046-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1593020.64   | 0.29%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1998000.19   | 0.36%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2336973.08   | 0.42%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1102545.89   | 0.20%             | 2040-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2525000 | PA      | $2577951.02   | 0.47%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4380000 | PA      | $4458759.85   | 0.81%             | 2060-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3531827.44   | 0.64%             | 2054-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                         | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116JJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2496888.24   | 0.45%             | 2060-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                            | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207T88<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $2045486.57   | 0.37%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                              | NORTH DAKOTA ST HSG FIN AGY                                  | CUSIP: 6589098A7<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   3985000 | PA      | $4038248.37   | 0.73%             | 2049-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                    | N TX TOLLWAY AUTH REVENUE                                    | CUSIP: 66285WHD1<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |    640000 | PA      | $343379.46    | 0.06%             | 2037-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                                                    | N TX TOLLWAY AUTH REVENUE                                    | CUSIP: 66285WYA8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2179500.10   | 0.39%             | 2049-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Northwest Independent School District                                            | NORTHWEST TX INDEP SCH DIST                                  | CUSIP: 667826HG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1655920.80   | 0.30%             | 2055-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Oklahoma Development Finance Authority                                           | OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE                     | CUSIP: 67884XCK1<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1646403.87   | 0.30%             | 2052-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                        | ORANGE CNTY FL HLTH FACS AUTH REVENUE                        | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4270000 | PA      | $4488638.95   | 0.81%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Osceola Chain Lakes Community Development District                               | OSCEOLA CHAIN LAKES CDD FL CAPITAL IMPT REVENUE              | CUSIP: 688017AG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $253184.64    | 0.05%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Osceola Chain Lakes Community Development District                               | OSCEOLA CHAIN LAKES CDD FL CAPITAL IMPT REVENUE              | CUSIP: 688017AH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $218229.49    | 0.04%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Pasco FL                                                               | PASCO CNTY FL CAPITAL IMPT CIGARETTE TAX ALLOCATION          | CUSIP: 70252AAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5085000 | PA      | $5250269.11   | 0.95%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Pasco FL                                                               | PASCO CNTY FL CAPITAL IMPT CIGARETTE TAX ALLOCATION          | CUSIP: 70252AAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1026582.50   | 0.19%             | 2054-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $480277.63    | 0.09%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1464856.09   | 0.27%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                            | PENNSYLVANIA ST ECON DEV FING AUTH T/E PRIVATE ACTIVITY REV  | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2360026.71   | 0.43%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                             | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TRW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4635000 | PA      | $4281962.71   | 0.78%             | 2051-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                             | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TRX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1110856.41   | 0.20%             | 2051-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                             | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TTU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1701236.07   | 0.31%             | 2055-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224WR6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2539588.50   | 0.46%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                                 | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225BC9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2065000 | PA      | $1933162.97   | 0.35%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | PHILADELPHIA PA AUTH FOR INDL DEV UNIV REVENUE               | CUSIP: 71780TBL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    440000 | PA      | $455160.20    | 0.08%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                                        | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 71783MDE2<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   2420000 | PA      | $2567538.93   | 0.47%             | 2049-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                               | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 7178933X7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5165000 | PA      | $5526402.80   | 1.00%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                                | PHILADELPHIA PA AUTH FOR INDL DEV HOSP REVENUE               | CUSIP: 717901CA8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2792655.60   | 0.51%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                           | PHOENIX AZ CIVIC IMPT CORP WSTWTR SYS REVENUE                | CUSIP: 71883PMN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1870230.65   | 0.34%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona/The              | PHOENIX AZ INDL DEV AUTH EDU REVENUE                         | CUSIP: 71885FFG7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1759435.23   | 0.32%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of Pima/The                       | PIMA CNTY AZ INDL DEV AUTH EDU REVENUE                       | CUSIP: 72177PCF5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    350000 | PA      | $318226.30    | 0.06%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pleasanton Unified School District                                               | PLEASANTON CA UNIF SCH DIST                                  | CUSIP: 728835P45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5300000 | PA      | $5321577.36   | 0.96%             | 2050-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358W4B7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    380000 | PA      | $348744.35    | 0.06%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358XAW2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1125116.53   | 0.20%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                                 | PORT HOUSTON TX AUTH                                         | CUSIP: 734262FY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1551076.93   | 0.28%             | 2051-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port New Orleans Board of Commissioners                                          | PORT NEW ORLEANS LA BRD OF COMMISSIONERS PORT FAC REVENUE    | CUSIP: 734782DT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1508535.77   | 0.27%             | 2044-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | CUSIP: 744396FT4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    120000 | PA      | $102976.44    | 0.02%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                                 | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DDS0<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   6085000 | PA      | $6253659.16   | 1.13%             | 2052-08-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PPT6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    190000 | PA      | $186042.98    | 0.03%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PTF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   5615000 | PA      | $4658245.55   | 0.84%             | 2051-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PTG0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1484890.99   | 0.27%             | 2056-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI RETMNT FAC REVENUE                        | CUSIP: 74444VAR1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    120000 | PA      | $110523.85    | 0.02%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                         | PUBLIC FIN AUTH WI TOLL REVENUE                              | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   5110000 | PA      | $5612252.70   | 1.02%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                      | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1596248 | PA      | $1769943.41   | 0.32%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3475000 | PA      | $3285619.45   | 0.60%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14276000 | PA      | $13865432.23  | 2.51%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6943000 | PA      | $2416389.65   | 0.44%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3256000 | PA      | $3061930.68   | 0.55%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    159000 | PA      | $149523.03    | 0.03%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Riverside County Transportation Commission                                       | RIVERSIDE CNTY CA TRANSPRTN COMMISSION TOLL REVENUE          | CUSIP: 76912DAZ1<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |   2255000 | PA      | $2060830.52   | 0.37%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576HK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1813047.86   | 0.33%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                        | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAR9<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   5635000 | PA      | $6177357.48   | 1.12%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salt Verde Financial Corp                                                        | SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE              | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2188450.60   | 0.40%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                               | SAN MARCOS CA UNIF SCH DIST                                  | CUSIP: 798755DB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2397407.10   | 0.43%             | 2033-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                               | SAN MARCOS CA UNIF SCH DIST                                  | CUSIP: 798755DM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1183132.25   | 0.21%             | 2043-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM                                                              | SANTA FE NM RETMNT FAC REVENUE                               | CUSIP: 802170AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97113.15     | 0.02%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH ECON DEV REVENUE        | CUSIP: 837031ZN6<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    335000 | PA      | $277728.17    | 0.05%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837032CB5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1654628.26   | 0.30%             | 2048-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837032CC3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4487259.00   | 0.81%             | 2049-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority                               | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE       | CUSIP: 837032CD1<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    330000 | PA      | $351762.91    | 0.06%             | 2050-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 8371515U9<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1158409.21   | 0.21%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                                          | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE                    | CUSIP: 837151YZ6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    675000 | PA      | $688937.27    | 0.12%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FAH0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   5290000 | PA      | $5410747.95   | 0.98%             | 2051-11-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY REVENUE              | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $2124165.09   | 0.38%             | 2053-01-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                                | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                     | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1841285.28   | 0.33%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Stevens Plantation Community Development District                                | STEVENS PLANTATION FL CDD SPL ASSMNT REVENUE                 | CUSIP: 860242AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670052 | PA      | $1135635.11   | 0.21%             | 2035-05-01      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL                                                                 | TAMPA FL CAPITAL IMPT CIGARETTE TAX ALLOCATION               | CUSIP: 875146BB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6275000 | PA      | $2390360.22   | 0.43%             | 2045-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                        | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE      | CUSIP: 87638QSE0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1319334.27   | 0.24%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant Regional Water District                                                  | TARRANT TX REGL WTR DIST WTR TRANSMISSION FACS CONTRACT REV  | CUSIP: 876448JK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1350550.63   | 0.24%             | 2055-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority                               | Wisconsin Housing & Economic Development Authority           | CUSIP: 976904Q54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3322222 | PA      | $3297389.08   | 0.60%             | 2057-05-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority                               | Wisconsin Housing & Economic Development Authority           | CUSIP: 976904Q54<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   2657778 | PA      | $2637911.23   | 0.48%             | 2057-05-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358W5U4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2820000 | PA      | $2533408.48   | 0.46%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Central Plains Energy Project                                                    | CENTRL PLAINS ENERGY PROJ NE GAS PROJ REVENUE                | CUSIP: 154871CU9<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   5240000 | PA      | $5526856.39   | 1.00%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                | City & County of Denver CO Airport System Revenue            | CUSIP: 249182QX7<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   7685000 | PA      | $8109151.28   | 1.47%             | 2053-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   6701851 | PA      | $7144791.71   | 1.29%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Michigan State Housing Development Authority                                     | MICHIGAN ST HSG DEV AUTH RENTAL HSG REVENUE                  | CUSIP: 59465PEJ3<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |  12964173 | PA      | $13333125.85  | 2.42%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH SALES TAX REVENUE                      | CUSIP: 64990AQM0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   8820000 | PA      | $9038849.78   | 1.64%             | 2046-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                   | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE               | CUSIP: 09182NCT5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  12500000 | PA      | $13571583.75  | 2.46%             | 2053-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JCD8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   9510000 | PA      | $10089113.35  | 1.83%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF                                                   | PENNSYLVANIA ST HSG FIN AGY SF                               | CUSIP: 70879QWL3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   8620000 | PA      | $8658733.11   | 1.57%             | 2049-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                           | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   4842139 | PA      | $5266411.11   | 0.95%             | 2054-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Melbourne FL Water & Sewer Revenue                                       | MELBOURNE FL WTR & SWR REVENUE                               | CUSIP: 5853953N4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6910000 | PA      | $7236538.27   | 1.31%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Portland OR Airport Revenue                                              | PORT OF PORTLAND OR ARPT REVENUE                             | CUSIP: 7352403J0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11628081 | PA      | $12378366.38  | 2.24%             | 2048-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                  | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10796026.00  | 1.96%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QUM3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |  10191461 | PA      | $11049161.72  | 2.00%             | 2053-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                           | NEW YORK CITY NY HSG DEV CORP MF HSG REV                     | CUSIP: 64972KBB0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   5540000 | PA      | $5592576.82   | 1.01%             | 2048-11-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Missouri Housing Development Commission                                          | MISSOURI ST HSG DEV COMMISSION SF MTGE REVENUE               | CUSIP: 60637GDE6<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   6920000 | PA      | $6861340.54   | 1.24%             | 2049-11-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                              | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QC35<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   6750000 | PA      | $6798170.70   | 1.23%             | 2049-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990KGU1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |  10370000 | PA      | $10926472.87  | 1.98%             | 2047-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue                      | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647NG2<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |  11620000 | PA      | $12296259.60  | 2.23%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Salt Lake City UT Airport Revenue                                        | SALT LAKE CITY UT ARPT REVENUE                               | CUSIP: 795576MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9063452 | PA      | $9570670.77   | 1.73%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                            | CUSIP: 79625GJR5<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   6701648 | PA      | $7189818.41   | 1.30%             | 2049-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358XHE5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   8640000 | PA      | $8904023.71   | 1.61%             | 2047-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                 | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YED7<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   9280000 | PA      | $10087784.10  | 1.83%             | 2060-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE                                                       | PORT OF SEATTLE WA REVENUE                                   | CUSIP: 735389R26<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |  12100000 | PA      | $12368617.58  | 2.24%             | 2046-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                               | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | CUSIP: 64990KHA4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   6970931 | PA      | $7276738.36   | 1.32%             | 2053-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JTG3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3060000 | PA      | $3198339.85   | 0.58%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                          | DIST OF COLUMBIA INCOME TAX SECURED REVENUE                  | CUSIP: 25477GYP4<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |  10360000 | PA      | $11194948.66  | 2.03%             | 2050-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                         | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 593340AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6149617 | PA      | $6455878.75   | 1.17%             | 2050-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Texas Municipal Water District                                             | N TX MUNI WTR DIST REGL WSTWTR SYS CONTRACT REVENUE          | CUSIP: 66283ALD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5197890 | PA      | $5412142.50   | 0.98%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                 | CUSIP: 646140FX6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   5394933 | PA      | $5781575.99   | 1.05%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RHT5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5338681 | PA      | $5713220.57   | 1.03%             | 2057-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349JV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6920000 | PA      | $7382660.82   | 1.34%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Tallahassee FL                                                           | TALLAHASSEE FL CAPITAL BONDS                                 | CUSIP: 874458MU3<br>LEI: 549300MPY4HDPK8B1G15 | Long             | DBT              | MUN               | US        |   7420000 | PA      | $7911707.82   | 1.43%             | 2055-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                        | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349JV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7456953 | PA      | $7955513.25   | 1.44%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                              | NEW YORK NY                                                  | CUSIP: 64966QL57<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   6560000 | PA      | $6913557.10   | 1.25%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Austin Community College District                                                | AUSTIN TX CMNTY CLG DIST                                     | CUSIP: 052403LB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11740000 | PA      | $12478015.14  | 2.26%             | 2055-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                               | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE               | CUSIP: 392275FK4<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |  10380000 | PA      | $10912383.97  | 1.98%             | 2051-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Terrell Independent School District/TX                                           | TERRELL TX INDEP SCH DIST                                    | CUSIP: 881405NZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7180000 | PA      | $7708006.43   | 1.40%             | 2055-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port of Seattle WA                                                               | PORT OF SEATTLE WA REVENUE                                   | CUSIP: 7353892S6<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   6240000 | PA      | $6571811.38   | 1.19%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                                     | NEW YORK CITY NY TRANSITIONAL FIN AUTH REV                   | CUSIP: 64972JMK1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   4736398 | PA      | $4941324.00   | 0.90%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp/TN                                                                 | TENNERGY CORP TN GAS REVENUE                                 | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   3130000 | PA      | $3394074.97   | 0.61%             | 2053-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Texas City Industrial Development Corp                                           | TEXAS CITY TX INDL DEV CORP INDL REVENUE                     | CUSIP: 882275AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $84249.37     | 0.02%             | 2045-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Texas Department of Housing & Community Affairs                                  | TEXAS ST DEPT OF HSG & CMNTY AFFAIRS                         | CUSIP: 88275FYX1<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |   3650000 | PA      | $3732430.51   | 0.68%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas State University System                                                    | TEXAS ST UNIV SYS FING REVENUE                               | CUSIP: 88278PJ88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4690000 | PA      | $4301923.14   | 0.78%             | 2049-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAK8<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    500000 | PA      | $251760.95    | 0.05%             | 2040-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAL6<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $949130.60    | 0.17%             | 2041-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Texas Transportation Commission State Highway 249 System                         | TEXAS ST TRANSPRTN COMMISSION ST HIGHWAY 249 SYS TOLL REV    | CUSIP: 88283NAM4<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   2345000 | PA      | $1051860.07   | 0.19%             | 2042-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                                    | TEXAS WTR DEV BRD ST WTR IMPLEMENTATION REVENUE FUND         | CUSIP: 88285ABA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $723964.30    | 0.13%             | 2036-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $272037.51    | 0.05%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3835000 | PA      | $3844712.52   | 0.70%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                                                | TOBACCO SETTLEMENT FING CORP NJ                              | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2531458.54   | 0.46%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp/VA                                             | TOBACCO SETTLEMENT FING CORP VA                              | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $846385.05    | 0.15%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | CUSIP: 89602HDP9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   6930000 | PA      | $7196940.83   | 1.30%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                             | TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES                  | CUSIP: 89602RLU7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2590000 | PA      | $2384233.05   | 0.43%             | 2054-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                           | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE         | CUSIP: 896035BD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $950424.30    | 0.17%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                           | TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE         | CUSIP: 896035BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6855000 | PA      | $6450564.60   | 1.17%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tulsa County Industrial Authority                                                | TULSA CNTY OK INDL AUTH SENIOR LIVING CMNTY REVENUE          | CUSIP: 899530BA6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1434728.79   | 0.26%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tulsa Municipal Airport Trust Trustees/OK                                        | TULSA OK MUNI ARPT TRUST TRUSTEES                            | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1262752.69   | 0.23%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| University of Kentucky                                                           | UNIV OF KENTUCKY LEASE PURCHASE OBLIGS                       | CUSIP: 914383BP8<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |   3605000 | PA      | $3717190.48   | 0.67%             | 2055-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TC68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $130989.03    | 0.02%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Charter School Finance Authority                                            | UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | CUSIP: 91754TYL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96472.26     | 0.02%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                           | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WGS7<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1871273.06   | 0.34%             | 2047-11-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                           | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WNV2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2329843.42   | 0.42%             | 2049-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Waller Consolidated Independent School District                                  | WALLER TX INDEP SCH DIST                                     | CUSIP: 932493LX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1636845.00   | 0.30%             | 2048-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington Metropolitan Area Transit Authority Dedicated Revenue                 | WASHINGTON DC MET AREA TRANSIT AUTH DEDICATED REVENUE        | CUSIP: 93878YCS6<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1234792.87   | 0.22%             | 2047-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                      | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783VW3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2011987.98   | 0.36%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority                                      | WASHINGTON ST HLTH CARE FACS AUTH                            | CUSIP: 93978HF75<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    435000 | PA      | $461974.83    | 0.08%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Washington Township Health Care District                                         | WASHINGTON TWP CA HLTH CARE DIST                             | CUSIP: 940642CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $835157.62    | 0.15%             | 2040-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Westchester Tobacco Asset Securitization Corp                                    | WESTCHESTER NY TOBACCO ASSET SECURITIZATION                  | CUSIP: 957480BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $155078.42    | 0.03%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                        | BlackRock Liquidity Funds: MuniCash, Institutional Shares    | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   1233933 | NS      | $1234055.91   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue        | WISCONSIN ST HSG & ECON DEV AUTH HOME OWNERSHIP REVENUE      | CUSIP: 97689QSN7<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    720000 | PA      | $737710.49    | 0.13%             | 2043-09-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue        | WISCONSIN ST HSG & ECON DEV AUTH HOME OWNERSHIP REVENUE      | CUSIP: 97689QWC6<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2083000.37   | 0.38%             | 2051-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                              | WISCONSIN ST HLTH & EDUCTNL FACS AUTH REVENUE                | CUSIP: 97712JEQ2<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   3280000 | PA      | $2865219.40   | 0.52%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** BlackRock Municipal Income Trust II

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer