# EDGAR Filing Document

**Accession Number:** 0000778365
**File Stem:** 0001410368-25-017059
**Filing Date:** 2025-10
**Character Count:** 79712
**Document Hash:** b6d50766592d614e6085c86b174326a2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-017059.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0001410368-25-017059

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251024

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Municipals Trust
- **CENTRAL INDEX KEY:** 0000778365

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04409
- **FILM NUMBER:** 251414371

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE HIGH YIELD MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19910203

## Series and Classes Contracts Data

### Eaton Vance North Carolina Municipal Income Fund (Series ID: S000004850)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000013136 | Eaton Vance North Carolina Municipal Income Fund Class A | ETNCX           |
| C000013138 | Eaton Vance North Carolina Municipal Income Fund Class C | ECNCX           |
| C000063950 | Eaton Vance North Carolina Municipal Income Fund Class I | EINCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance Municipals Trust

- **b. Investment Company Act file number:** 811-04409

- **c. CIK number of Registrant:** 0000778365

- **d. LEI of Registrant:** 549300URENTSNA53MO13

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

  - **Street Address 1:** One Post Office Square

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02109

  - **Telephone number:** 617-482-8260

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

- **a. Name of Series:** Eaton Vance North Carolina Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000004850

- **c. LEI of Series:** 549300TRNSPMC6ISX220

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $231422985.05

**Total Liabilities:** $895460.21

**Net Assets:** $230527524.84

**Cash Not Reported:** $2088841.37

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -347.45000000 | **1-Year:** -6942.89000000 | **5-Year:** -28171.90000000 | **10-Year:** -98961.48000000 | **30-Year:** -32645.51000000

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

- **3-Month:** -15.99000000 | **1-Year:** -598.69000000 | **5-Year:** -1978.66000000 | **10-Year:** -3662.21000000 | **30-Year:** -1800.19000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013138 | 0.45%                | -0.59%               | 0.67%                |
| Class ID C000013136 | 0.65%                | -0.58%               | 0.77%                |
| Class ID C000063950 | 0.67%                | -0.56%               | 0.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15198.17               | $677977.69                                 |
| Month 2  | $38286.94                | $-1990275.28                               |
| Month 3  | $58142.91                | $1128255.71                                |

**Designated Index Information**

- **Index Name:** BB Barclays Municipal Bd

- **Index Identifier:** MBINDEX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Duke University                                                                 | DUKE UNIV NC                                                 | CUSIP: 264416AN8<br>LEI: FY5ICUIRRDCHN4HHL592 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1516271.68   | 0.66%             | 2037-04-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                            | PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | CUSIP: 74526Q2V3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1326148.28   | 0.58%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cape Fear Public Utility Authority                                              | CAPE FEAR NC PUBLIC UTILITY AUTH WTR & SWR SYS REVENUE       | CUSIP: 139391GA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $419224.44    | 0.18%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YTQ9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    410000 | PA      | $410109.92    | 0.18%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Town of Wake Forest NC                                                          | WAKE FOREST NC                                               | CUSIP: 930897LD3<br>LEI: 5493008F7RLN22R46U25 | Long             | DBT              | MUN               | US        |     70000 | PA      | $69735.65     | 0.03%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC Water & Sewer System Revenue                               | CHARLOTTE NC WTR & SWR SYS REVENUE                           | CUSIP: 161045NZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6475000 | PA      | $6487441.71   | 2.81%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Carolina University                                                        | EAST CAROLINA NC UNIV                                        | CUSIP: 271371E51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $695206.35    | 0.30%             | 2047-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Town of Wake Forest NC                                                          | WAKE FOREST NC                                               | CUSIP: 930897LH4<br>LEI: 5493008F7RLN22R46U25 | Long             | DBT              | MUN               | US        |    905000 | PA      | $864879.45    | 0.38%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Winston-Salem NC                                                        | WINSTON SALEM NC LTD OBLG                                    | CUSIP: 975680HH5<br>LEI: 549300AUJB2WE4FMLE24 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98711.93     | 0.04%             | 2045-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618DM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1123062.91   | 0.49%             | 2050-06-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Raleigh Durham Airport Authority                                                | RALEIGH DURHAM NC ARPT AUTH ARPT REVENUE                     | CUSIP: 751073MD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2297281.36   | 1.00%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                                     | UNIV OF NORTH CAROLINA NC HOSP CHAPEL HILL REVENUE           | CUSIP: 91471FAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600000.00   | 0.69%             | 2031-02-15      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission                                                 | GREENVILLE NC COMB ENTERPRISE SYS REVENUE                    | CUSIP: 396290DW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4674683.76   | 2.03%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nash Health Care Systems                                                        | NASH HLTH CARE SYS NC HLTH CARE FACS REVENUE                 | CUSIP: 631163BM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $1037151.28   | 0.45%             | 2044-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Johnston NC                                                           | JOHNSTON CNTY NC                                             | CUSIP: 479340YF2<br>LEI: 5493003J6KNUY7E7SF98 | Long             | DBT              | MUN               | US        |    865000 | PA      | $849321.70    | 0.37%             | 2040-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 657902U91<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 1.08%             | 2034-11-01      | Floating      | 2.77%                 | No            |                  2 | On Loan: No      |
| City of Winston-Salem NC                                                        | WINSTON SALEM NC LTD OBLG                                    | CUSIP: 975680HF9<br>LEI: 549300AUJB2WE4FMLE24 | Long             | DBT              | MUN               | US        |    500000 | PA      | $520891.50    | 0.23%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC Water & Sewer System Revenue                               | CHARLOTTE NC WTR & SWR SYS REVENUE                           | CUSIP: 161045TD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1136405.27   | 0.49%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Fayetteville NC Public Works Commission Revenue                         | FAYETTEVILLE NC PUBLIC WKS COMMISSION                        | CUSIP: 312805NN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1805143.65   | 0.78%             | 2049-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Onslow Water & Sewer Authority                                                  | ONSLOW NC WTR & SWR AUTH COMB ENTERPRISES SYS REVENUE        | CUSIP: 682852ER5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $604882.81    | 0.26%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cape Fear Public Utility Authority                                              | CAPE FEAR NC PUBLIC UTILITY AUTH WTR & SWR SYS REVENUE       | CUSIP: 139391EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2153187.74   | 0.93%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Winston-Salem NC                                                        | WINSTON SALEM NC LTD OBLG                                    | CUSIP: 975680GW3<br>LEI: 549300AUJB2WE4FMLE24 | Long             | DBT              | MUN               | US        |    690000 | PA      | $792903.84    | 0.34%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC Airport Revenue                                            | CHARLOTTE NC ARPT REVENUE                                    | CUSIP: 161036MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5005028.00   | 2.17%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                    | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE     | CUSIP: 160853MS3<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.87%             | 2037-01-15      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| County of Wake NC                                                               | WAKE CNTY NC                                                 | CUSIP: 930864JY0<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2748060.50   | 1.19%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Greensboro NC                                                           | GREENSBORO NC LIMITED OBLIG                                  | CUSIP: 395476FH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $430834.50    | 0.19%             | 2033-04-01      | Fixed         | 2.43%                 | No            |                  2 | On Loan: No      |
| Town of Fuquay-Varina NC Combined Utilities Revenue                             | FUQUAY-VARINA NC COMB UTILITIES REVENUE                      | CUSIP: 36106QDH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1171549.36   | 0.51%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Burlington NC                                                           | BURLINGTON NC                                                | CUSIP: 121889SX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $282206.56    | 0.12%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207YN9<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1313646.46   | 0.57%             | 2040-01-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| County of Brunswick NC                                                          | BRUNSWICK CNTY NC                                            | CUSIP: 117061XQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70680.37     | 0.03%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC Airport Revenue                                            | CHARLOTTE NC ARPT REVENUE                                    | CUSIP: 161036NE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000105.90   | 0.43%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                               | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RAR0<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $4545712.60   | 1.97%             | 2035-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE             | CUSIP: 39160CAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $227976.06    | 0.10%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618CM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044593.20   | 0.45%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Durham NC Water & Sewer Utility System Revenue                          | DURHAM NC UTILITY SYS REVENUE                                | CUSIP: 266818DQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3355000 | PA      | $3015259.62   | 1.31%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greenville Utilities Commission                                                 | GREENVILLE NC UTILITIES COMMISSION COMB ENTERPRISE SYS REVEN | CUSIP: 396321ER8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $178765.44    | 0.08%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Charlotte/The                                   | UNIV OF NORTH CAROLINA NC AT CHARLOTTE                       | CUSIP: 914716H73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4975000 | PA      | $5010975.22   | 2.17%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                               | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RCK3<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2540561.50   | 1.10%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cabarrus NC                                                           | CABARRUS CNTY NC LTD OBLIG                                   | CUSIP: 12677RFG7<br>LEI: 549300HVGPJDNBDPZV71 | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2289250.14   | 0.99%             | 2042-08-01      | 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: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3030000 | PA      | $2779292.35   | 1.21%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Mooresville NC                                                          | MOORESVILLE NC LTD OBLIG                                     | CUSIP: 616126BY3<br>LEI: 549300ISWSZ083ZKZF60 | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1470051.17   | 0.64%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 6582074F9<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.30%             | 2049-07-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618CL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $790467.90    | 0.34%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $823063.65    | 0.36%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 65821DWK3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2665000 | PA      | $2252410.83   | 0.98%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Orange NC                                                             | ORANGE CNTY NC LTD OBLIG                                     | CUSIP: 684566FK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98095.01     | 0.04%             | 2044-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE             | CUSIP: 39160CAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073949.50   | 0.47%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hendersonville NC Water & Sewer System Revenue                          | HENDERSONVILLE NC WTR & SWR SYS REVENUE                      | CUSIP: 42538PAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $19810.67     | 0.01%             | 2043-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Durham NC Water & Sewer Utility System Revenue                          | DURHAM NC UTILITY SYS REVENUE                                | CUSIP: 266818DP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $615842.92    | 0.27%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Johnston NC Water & Sewer System Revenue                              | JOHNSTON CNTY NC WTR & SWR REVENUE                           | CUSIP: 479357CG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $804093.04    | 0.35%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Industrial Facilities & Pollution Control Financing Authority | CUMBERLAND CNTY NC INDL FACS & POLL CONTROL FING AUTH SOL WS | CUSIP: 230589AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000215.00   | 0.43%             | 2027-12-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Onslow Water & Sewer Authority                                                  | ONSLOW NC WTR & SWR AUTH COMB ENTERPRISES SYS REVENUE        | CUSIP: 682852DU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1117371.09   | 0.48%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hendersonville NC Water & Sewer System Revenue                          | HENDERSONVILLE NC WTR & SWR SYS REVENUE                      | CUSIP: 42538PAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $287940.19    | 0.12%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618CN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1053677.39   | 0.46%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Dare NC                                                               | DARE CNTY NC LIMITED OBLIG                                   | CUSIP: 23720EFQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $171874.35    | 0.07%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YTK2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1007475.01   | 0.44%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Durham NC Water & Sewer Utility System Revenue                          | DURHAM NC UTILITY SYS REVENUE                                | CUSIP: 266818DN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $758866.50    | 0.33%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC Airport Revenue                                            | CHARLOTTE NC ARPT REVENUE                                    | CUSIP: 161036VH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $1012467.96   | 0.44%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618DK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $305915.17    | 0.13%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Multifamily Mortgage Bonds                                                      | Housing Authority of the City of Raleigh North Carolina      | CUSIP: 751115BV7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $935850.80    | 0.41%             | 2043-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority                             | NORTH CAROLINA ST EDU ASSISTANCE AUTH                        | CUSIP: 658262HC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2028075.40   | 0.88%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 65821DUW9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027306.00   | 0.88%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority                             | NORTH CAROLINA ST EDU ASSISTANCE AUTH                        | CUSIP: 658262GW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1450039.39   | 0.63%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Carolina University                                                        | EAST CAROLINA NC UNIV                                        | CUSIP: 271371XP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $149987.17    | 0.07%             | 2037-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| County of Pender NC                                                             | PENDER CNTY NC LTD OBLIG                                     | CUSIP: 706716EQ6<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |    750000 | PA      | $685268.70    | 0.30%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Hendersonville NC Water & Sewer System Revenue                          | HENDERSONVILLE NC WTR & SWR SYS REVENUE                      | CUSIP: 42538PAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $263311.38    | 0.11%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Gastonia NC Combined Utilities System Revenue                           | GASTONIA NC COMB UTILITIES SYS REVENUE                       | CUSIP: 367319FS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $183211.06    | 0.08%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618CP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1826359.20   | 0.79%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                    | CHARLOTTE-MECKLENBURG NC HOSPAUTH HLTH CARE SYS REVENUE      | CUSIP: 160853UN5<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.30%             | 2048-01-15      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YQC3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511084.35    | 0.22%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YTJ5<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1193171.87   | 0.52%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Lee NC                                                                | LEE CNTY NC                                                  | CUSIP: 523714PZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $495120.58    | 0.21%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 65821DZT1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2085462.60   | 0.90%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Onslow NC                                                             | ONSLOW CNTY NC LTD OBLIG                                     | CUSIP: 68285TGT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $711893.38    | 0.31%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State Education Assistance Authority                             | NORTH CAROLINA ST EDU ASSISTANCE AUTH                        | CUSIP: 658262HB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $427098.70    | 0.19%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC                                                            | CHARLOTTE NC COPS                                            | CUSIP: 1610373L8<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1150695.13   | 0.50%             | 2036-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YQE9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009488.10   | 0.44%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority                                   | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                  | CUSIP: 02936TAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $196281.78    | 0.09%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Fayetteville NC Public Works Commission Revenue                         | FAYETTEVILLE NC PUBLIC WKS COMMISSION                        | CUSIP: 312805NK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2601527.00   | 1.13%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Mebane NC Combined Utilities Revenue                                    | MEBANE NC COMB UTILS REVENUE                                 | CUSIP: 583445AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2275000 | PA      | $1968157.10   | 0.85%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of North Carolina                                                         | NORTH CAROLINA ST                                            | CUSIP: 6582564M1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2494675.98   | 1.08%             | 2032-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207X26<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1985000 | PA      | $1921345.62   | 0.83%             | 2043-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Western Carolina University                                                     | WSTRN CAROLINA NC UNIV                                       | CUSIP: 957897ME8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $371922.78    | 0.16%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Pender NC                                                             | PENDER CNTY NC                                               | CUSIP: 706711KK3<br>LEI: 549300TW9ZHCIKDLQB34 | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2346674.24   | 1.02%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YSP2<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $797119.50    | 0.35%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Carolina University                                                        | EAST CAROLINA NC UNIV                                        | CUSIP: 271371E69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1076654.15   | 0.47%             | 2048-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YSR8<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $967916.29    | 0.42%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina System                                             | UNIV OF NORTH CAROLINA NC SYS                                | CUSIP: 9147208R1<br>LEI: 5493004DU2QADMVXVR58 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35021.83     | 0.02%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buncombe County Metropolitan Sewerage District                                  | BUNCOMBE CNTY NC MET SEWERAGEDIST SWR SYS REVENUE            | CUSIP: 120532JY3<br>LEI: 254900U5AA2F4DQUFZ71 | Long             | DBT              | MUN               | US        |    540000 | PA      | $540902.88    | 0.23%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Greensboro NC                                                           | GREENSBORO NC                                                | CUSIP: 3954608P6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $157839.21    | 0.07%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Fuquay-Varina NC Combined Utilities Revenue                             | FUQUAY-VARINA NC COMB UTILITIES REVENUE                      | CUSIP: 36106QCL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3285000 | PA      | $3051257.14   | 1.32%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618DL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $207235.87    | 0.09%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of High Point NC Combined Water & Sewer System Revenue                     | HIGH POINT NC COMB ENTERPRISESYS REVENUE                     | CUSIP: 429749JH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $440951.42    | 0.19%             | 2042-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| County of Johnston NC                                                           | JOHNSTON CNTY NC                                             | CUSIP: 479340YG0<br>LEI: 5493003J6KNUY7E7SF98 | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1210727.43   | 0.53%             | 2041-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Fuquay-Varina NC Combined Utilities Revenue                             | FUQUAY-VARINA NC COMB UTILITIES REVENUE                      | CUSIP: 36106QCM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $536826.30    | 0.23%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Watauga Public Facilities Corp                                                  | WATAUGA NC PUBLIC FACS CORP                                  | CUSIP: 94109SBR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073933.00   | 0.47%             | 2040-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                               | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RBM0<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1211956.80   | 0.53%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Guilford NC                                                           | GUILFORD CNTY NC                                             | CUSIP: 401784X73<br>LEI: 549300OUKUGQGH8RCL96 | Long             | DBT              | MUN               | US        |    965000 | PA      | $901674.96    | 0.39%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Huntersville NC                                                         | HUNTERSVILLE NC                                              | CUSIP: 445798GJ4<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |    865000 | PA      | $850342.66    | 0.37%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Wake Forest NC                                                          | WAKE FOREST NC                                               | CUSIP: 930897LF8<br>LEI: 5493008F7RLN22R46U25 | Long             | DBT              | MUN               | US        |    215000 | PA      | $211407.16    | 0.09%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Wake Forest NC                                                          | WAKE FOREST NC                                               | CUSIP: 930897LG6<br>LEI: 5493008F7RLN22R46U25 | Long             | DBT              | MUN               | US        |    945000 | PA      | $914396.55    | 0.40%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Dare NC                                                               | DARE CNTY NC LIMITED OBLIG                                   | CUSIP: 23720EFR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $170909.43    | 0.07%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Dare NC                                                               | DARE CNTY NC LIMITED OBLIG                                   | CUSIP: 23720EFP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $314051.24    | 0.14%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE             | CUSIP: 39160CAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027339.60   | 0.88%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                                | NORTH CAROLINA ST CAPITAL FACS FIN AGY EDUCTNL FACS REVENUE  | CUSIP: 65818PMZ9<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |    800000 | PA      | $801796.88    | 0.35%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Concord NC                                                              | CONCORD NC                                                   | CUSIP: 206435NH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1028841.98   | 0.45%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YSK3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    880000 | PA      | $756376.81    | 0.33%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                                | NORTH CAROLINA ST CAPITAL FACS FIN AGY REVENUE               | CUSIP: 65819GLC0<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1192499.17   | 0.52%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Mooresville NC                                                          | MOORESVILLE NC LTD OBLIG                                     | CUSIP: 616126BX5<br>LEI: 549300ISWSZ083ZKZF60 | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1596525.86   | 0.69%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Mecklenburg NC                                                        | MECKLENBURG CNTY NC SPL OBLG                                 | CUSIP: 58400UAP2<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001727.50   | 0.43%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                     | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065766.00   | 0.46%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA HSG FIN AGY HOMEOWNERSHIP REVENUE             | CUSIP: 65820BAY2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2411078.70   | 1.05%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Dare NC                                                               | DARE CNTY NC LIMITED OBLIG                                   | CUSIP: 23720EFS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $309377.23    | 0.13%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618CK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $800954.18    | 0.35%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                    | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE     | CUSIP: 160853MR5<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 1.08%             | 2038-01-15      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| County of Orange NC                                                             | ORANGE CNTY NC LTD OBLIG                                     | CUSIP: 684566FH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1134069.55   | 0.49%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Durham NC Water & Sewer Utility System Revenue                          | DURHAM NC UTILITY SYS REVENUE                                | CUSIP: 266818BR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2395000 | PA      | $1977746.45   | 0.86%             | 2040-08-01      | Fixed         | 3.00%                 | 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        |   2500000 | PA      | $2592591.25   | 1.12%             | 2048-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                    | CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS REVENUE     | CUSIP: 160853TL1<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001999.80   | 0.87%             | 2048-01-15      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| County of Lee NC                                                                | LEE CNTY NC                                                  | CUSIP: 523714QD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $925927.40    | 0.40%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Mecklenburg NC                                                        | MECKLENBURG CNTY NC                                          | CUSIP: 584002C31<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |    910000 | PA      | $850416.93    | 0.37%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Wake Forest NC                                                          | WAKE FOREST NC                                               | CUSIP: 930897LE1<br>LEI: 5493008F7RLN22R46U25 | Long             | DBT              | MUN               | US        |    715000 | PA      | $709558.64    | 0.31%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cape Fear Public Utility Authority                                              | CAPE FEAR NC PUBLIC UTILITY AUTH WTR & SWR SYS REVENUE       | CUSIP: 139391GB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $962982.72    | 0.42%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Onslow NC                                                             | ONSLOW CNTY NC LTD OBLIG                                     | CUSIP: 68285TGS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $770450.54    | 0.33%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hendersonville NC Water & Sewer System Revenue                          | HENDERSONVILLE NC WTR & SWR SYS REVENUE                      | CUSIP: 42538PAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $283956.68    | 0.12%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of High Point NC Combined Water & Sewer System Revenue                     | HIGH POINT NC COMB ENTERPRISESYS REVENUE                     | CUSIP: 429749JK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $181210.59    | 0.08%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA HSG FIN AGY HOMEOWNERSHIP REVENUE             | CUSIP: 65820BBC9<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.43%             | 2050-01-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207VA0<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1773406.31   | 0.77%             | 2038-07-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| City of Burlington NC                                                           | BURLINGTON NC                                                | CUSIP: 121889SY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $533184.59    | 0.23%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Capital Facilities Finance Agency                                | NORTH CAROLINA ST CAPITAL FACS FIN AGY REVENUE               | CUSIP: 65819GLA4<br>LEI: 549300PWNPSB7G58A235 | Long             | DBT              | MUN               | US        |   1975000 | PA      | $1995878.12   | 0.87%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YRS7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1729465.40   | 0.75%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 6582077M1<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    575000 | PA      | $560561.18    | 0.24%             | 2044-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618DJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $272726.76    | 0.12%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Huntersville NC                                                         | HUNTERSVILLE NC                                              | CUSIP: 445798GL9<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1165356.08   | 0.51%             | 2043-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Onslow NC                                                             | ONSLOW CNTY NC LTD OBLIG                                     | CUSIP: 68285TGR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $510650.28    | 0.22%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Greensboro                                      | UNIV OF NORTH CAROLINA NC AT GREENSBORO                      | CUSIP: 914719VA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $906211.17    | 0.39%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC                                                            | CHARLOTTE NC COPS                                            | CUSIP: 161037W28<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1178687.39   | 0.51%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Carolina University                                                        | EAST CAROLINA NC UNIV                                        | CUSIP: 271371D94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $749495.75    | 0.33%             | 2043-10-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                          | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1492274.84   | 0.65%             | 2054-10-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Wilmington NC                                                           | WILMINGTON NC LTD OBLG REVENUE                               | CUSIP: 971697JP3<br>LEI: 549300Y5IY4G3QB69428 | Long             | DBT              | MUN               | US        |    200000 | PA      | $182912.68    | 0.08%             | 2030-06-01      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY                                | CUSIP: 65821FHQ2<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    380000 | PA      | $327812.89    | 0.14%             | 2034-07-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| County of Ashe NC                                                               | ASHE NC                                                      | CUSIP: 043891AS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $339492.79    | 0.15%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Lee NC                                                                | LEE CNTY NC                                                  | CUSIP: 523714PY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $935867.33    | 0.41%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YTN6<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1960365.20   | 0.85%             | 2044-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE             | CUSIP: 39160CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2503769.00   | 1.09%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Wake NC                                                               | WAKE CNTY NC LIMITED OBLIG                                   | CUSIP: 930876FK8<br>LEI: 5493007XQJHO082P1H29 | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1915872.49   | 0.83%             | 2037-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Mecklenburg NC                                                        | MECKLENBURG CNTY NC LTD OBLG                                 | CUSIP: 58400CCD7<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |    205000 | PA      | $190180.80    | 0.08%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207TY1<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    605000 | PA      | $555172.32    | 0.24%             | 2041-01-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| County of Onslow NC                                                             | ONSLOW CNTY NC LTD OBLIG                                     | CUSIP: 68285TGV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $334001.94    | 0.14%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of High Point NC Combined Water & Sewer System Revenue                     | HIGH POINT NC COMB ENTERPRISESYS REVENUE                     | CUSIP: 429749JG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $702571.26    | 0.30%             | 2041-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| County of New Hanover NC                                                        | NEW HANOVER CNTY NC HOSP REVENUE                             | CUSIP: 644804FH4<br>LEI: 549300TDDH9O6TH23823 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055537.60   | 0.46%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hendersonville NC Water & Sewer System Revenue                          | HENDERSONVILLE NC WTR & SWR SYS REVENUE                      | CUSIP: 42538PAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $269031.88    | 0.12%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Asheville Regional Airport Authority                                    | GTR ASHEVILLE REGL ARPT AUTH NC ARPT SYS REVENUE             | CUSIP: 39160CAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2542759.75   | 1.10%             | 2047-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207T62<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1004334.89   | 0.44%             | 2042-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Raleigh Housing Authority                                                       | RALEIGH NC HSG AUTH MF REVENUE                               | CUSIP: 751115BX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $263471.70    | 0.11%             | 2043-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| City of Greensboro NC Combined Water & Sewer System Revenue                     | GREENSBORO NC ENTERPRISE SYS REVENUE                         | CUSIP: 395468PH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $4011022.86   | 1.74%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Huntersville NC                                                         | HUNTERSVILLE NC                                              | CUSIP: 445798GK1<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1233230.87   | 0.53%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Huntersville NC                                                         | HUNTERSVILLE NC                                              | CUSIP: 445798GM7<br>LEI: 54930087GGCJ3BA5DF20 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1152429.04   | 0.50%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                                     | UNIV OF NORTH CAROLINA AT CHAPEL HILL NC HOSP REVENUE        | CUSIP: 914714CZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6800000 | PA      | $7009106.12   | 3.04%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Sanford NC Utility Systems Revenue                                      | SANFORD NC ENTERPRISE SYS REVENUE                            | CUSIP: 800618CJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541315.40    | 0.23%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Winston-Salem NC Water & Sewer System Revenue                           | WINSTON-SALEM NC WTR & SWR SYS REVENUE                       | CUSIP: 975700ML6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5002171.00   | 2.17%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Housing Finance Agency                                           | NORTH CAROLINA ST HSG FIN AGY HOMEOWNERSHIP REVENUE          | CUSIP: 658207K53<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1128691.26   | 0.49%             | 2029-01-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| City of Charlotte NC Water & Sewer System Revenue                               | CHARLOTTE NC WTR & SWR SYS REVENUE                           | CUSIP: 161045RV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4470000 | PA      | $3978070.24   | 1.73%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Western Carolina University                                                     | WSTRN CAROLINA NC UNIV                                       | CUSIP: 957897KN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026997.40   | 0.45%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Hendersonville NC Water & Sewer System Revenue                          | HENDERSONVILLE NC WTR & SWR SYS REVENUE                      | CUSIP: 42538PAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244557.08    | 0.11%             | 2045-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| North Carolina Department of Transportation                                     | NORTH CAROLINA DEPT TRANSN    PRIVATE ACTIVITY REVENUE       | CUSIP: 65820FAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2474275.20   | 1.07%             | 2054-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                          | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YSY3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2372355.47   | 1.03%             | 2054-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| North Carolina Agricultural & Technical State University                        | NORTH CAROLINA ST AGRIC & TECH UNIV                          | CUSIP: 658187JU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2839407.48   | 1.23%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Onslow NC                                                             | ONSLOW CNTY NC LTD OBLIG                                     | CUSIP: 68285TGU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $157631.49    | 0.07%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina State University at Raleigh                                      | NORTH CAROLINA ST UNIV AT RALEIGH                            | CUSIP: 658289T29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1086167.40   | 0.47%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                                     | UNIV OF NORTH CAROLINA NC AT CHAPEL HILL  REVENUE            | CUSIP: 914713P22<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $913990.09    | 0.40%             | 2036-12-01      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-16

**Name of Applicant:** Eaton Vance Municipals Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer