# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0001752724-23-069724
**Filing Date:** 2023-3
**Character Count:** 228986
**Document Hash:** 0d4741abb3ff1115cf356313898d34df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069724.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069724

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IndexIQ Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 23767959

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 888-474-7725

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Series and Classes Contracts Data

### IQ MacKay Municipal Intermediate ETF (Series ID: S000057661)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000184311 | IQ MacKay Municipal Intermediate ETF | MMIT            |

## Nport-Ex

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds — 97.3%** | **Municipal Bonds — 97.3%** | |
| **Alabama — 3.5%** | **Alabama — 3.5%** | |
| Alabama Community College System, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 11/1/32 | $410000 | $444132 |
| 4.000%, due 11/1/33 | 660000 | 708318 |
| Alabama Housing Finance Authority, Revenue Bonds |  |  |
| Series H |  |  |
| &nbsp;&nbsp;5.000%, due 6/1/26<sup>(a),(b)</sup> | 500000 | 518839 |
| Birmingham Airport Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 7/1/32 | 600000 | 694223 |
| Black Belt Energy Gas District, Revenue Bonds |  |  |
| &nbsp;&nbsp;2.010%, (Municipal Swap Index + 0.35%), due 10/1/52<sup>(a)</sup> | 900000 | 862228 |
| &nbsp;&nbsp;4.000%, due 12/1/49<sup>(a),(b)</sup> | 600000 | 601995 |
| &nbsp;&nbsp;4.000%, due 10/1/52<sup>(a),(b)</sup> | 1760000 | 1762950 |
| 5.250%, due 6/1/26 | 1800000 | 1891979 |
| &nbsp;&nbsp;5.500%, due 11/1/53<sup>(a),(b)</sup> | 1000000 | 1074039 |
| Montgomery County Public Facilities Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 3/1/33 | 660000 | 724171 |
| 4.000%, due 3/1/35 | 1220000 | 1312865 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 |  |  |
| &nbsp;&nbsp;5.500%, due 1/1/53<sup>(a),(b)</sup> | 3000000 | 3265886 |
|  |  | 13861625 |
| **Alaska — 0.0%<sup>(c)</sup>** |  |  |
| Alaska Industrial Development & Export Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 6/1/28 | 100000 | 104144 |
| **Arizona — 1.4%** |  |  |
| Arizona Industrial Development Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 11/1/39 | 600000 | 584356 |
| 5.000%, due 11/1/31 | 550000 | 598551 |
| Series A Insured: BAM |  |  |
| 5.000%, due 6/1/31 | 300000 | 337828 |
| 5.000%, due 6/1/32 | 325000 | 365419 |
| City of Phoenix Civic Improvement Corp., Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 7/1/34 | 500000 | 534826 |
| Maricopa County Industrial Development Authority, Revenue Bonds |  |  |
| Series C Insured: SD CRED PROG |  |  |
| 5.000%, due 7/1/37 | 300000 | 315370 |
| Salt River Project Agricultural Improvement & Power District, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 1/1/30 | 2370000 | 2800446 |
|  |  | 5536796 |
| **Arkansas — 0.1%** |  |  |
| University of Central Arkansas, Revenue Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 11/1/34 | 400000 | 429486 |
| **California — 4.6%** |  |  |
| Benicia Unified School District, General Obligation Bonds |  |  |
| Series C Insured: AGM |  |  |
| &nbsp;&nbsp;2.720%, due 8/1/23<sup>(d)</sup> | 300000 | 295960 |
| California Health Facilities Financing Authority, Revenue Bonds |  |  |
| 5.000%, due 11/15/49 | 835000 | 854488 |
| California Municipal Finance Authority, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 11/1/28 | 250000 | 273609 |
| 5.000%, due 11/1/29 | 125000 | 138515 |
| 5.000%, due 11/1/30 | 410000 | 459885 |
| 5.000%, due 11/1/32 | 225000 | 257339 |
| 5.000%, due 11/1/33 | 1175000 | 1338198 |
| California Municipal Finance Authority, Revenue Bonds |  |  |
| 5.000%, due 5/15/31 | 400000 | 426197 |
| City of Long Beach CA Airport System Revenue, Revenue Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 6/1/27 | 200000 | 223089 |
| Series B Insured: AGM |  |  |
| 5.000%, due 6/1/26 | 250000 | 272301 |
| 5.000%, due 6/1/27 | 200000 | 223089 |
| 5.000%, due 6/1/29 | 150000 | 174725 |
| City of San Mateo CA, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.250%, due 9/1/35 | 1000000 | 1148281 |
| Fresno Unified School District, General Obligation Bonds |  |  |
| Series B |  |  |
| 5.000%, due 8/1/37 | 650000 | 738345 |
| 5.000%, due 8/1/38 | 500000 | 562892 |
| Grossmont Union High School District, General Obligation Bonds |  |  |
| Series F Insured: AGM |  |  |
| &nbsp;&nbsp;3.140%, due 8/1/33<sup>(d)</sup> | 1465000 | 909884 |
| Hercules Redevelopment Agency Successor Agency, Tax Allocation |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 8/1/37 | 500000 | 567299 |
| Independent Cities Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 6/1/36 | 700000 | 728324 |
| Kelseyville Unified School District, General Obligation Bonds |  |  |
| Series C Insured: AGM |  |  |
| &nbsp;&nbsp;3.170%, due 8/1/31<sup>(d)</sup> | 150000 | 112992 |
| &nbsp;&nbsp;3.420%, due 8/1/33<sup>(d)</sup> | 35000 | 23947 |
| Metropolitan Water District of Southern California, Revenue Bonds |  |  |
| Series E |  |  |
| &nbsp;&nbsp;1.800%, (Municipal Swap Index + 0.14%), due 7/1/37<sup>(a)</sup> | 1200000 | 1192855 |
| Monterey Peninsula Community College District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;3.120%, due 8/1/32<sup>(d)</sup> | 975000 | 721923 |
| Riverside County Community Facilities Districts, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 9/1/35 | 1060000 | 1112562 |
| Roseville Natural Gas Financing Authority, Revenue Bonds |  |  |
| 5.000%, due 2/15/24 | 560000 | 568262 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **California (continued)** |  |  |
| Sacramento City Financing Authority, Tax Allocation |  |  |
| Series A Insured: NATL |  |  |
| &nbsp;&nbsp;2.690%, due 12/1/23<sup>(d)</sup> | $3000000 | $2934019 |
| Sacramento City Unified School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;2.680%, due 7/1/24<sup>(d)</sup> | 305000 | 293709 |
| San Diego Unified School District, General Obligation Bonds |  |  |
| Series I |  |  |
| 5.000%, due 7/1/47 | 1000000 | 1071989 |
| State of California, General Obligation Bonds |  |  |
| 4.000%, due 9/1/32 | 500000 | 527143 |
| Westminster School District, General Obligation Bonds |  |  |
| Series B Insured: BAM |  |  |
| &nbsp;&nbsp;2.710%, due 8/1/48<sup>(d)</sup> | 100000 | 17664 |
|  |  | 18169485 |
| **Colorado — 2.6%** |  |  |
| Adams State University, Revenue Bonds |  |  |
| Series A Insured: ST HGR ED INTERCEPT PROG |  |  |
| 5.000%, due 5/15/35 | 1125000 | 1272218 |
| Cherokee Metropolitan District, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 8/1/34 | 200000 | 218777 |
| City & County of Denver CO Dedicated Excise Tax Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 8/1/42 | 1500000 | 1585947 |
| Colorado Educational & Cultural Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: Moral Obligation Bond |  |  |
| 4.000%, due 12/15/36 | 475000 | 480054 |
| Series A Insured: Moral Obligation Bond |  |  |
| 4.000%, due 7/1/36 | 1000000 | 1018531 |
| Colorado Health Facilities Authority, Revenue Bonds |  |  |
| Series A-1 |  |  |
| 4.000%, due 8/1/44 | 250000 | 240558 |
| 5.000%, due 8/1/35 | 105000 | 113342 |
| Crystal Valley Metropolitan District No 2, General Obligation Bonds |  |  |
| Series A Insured: AGM |  |  |
| 4.000%, due 12/1/36 | 500000 | 528906 |
| Eagle County School District No Re50J, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 12/1/41 | 515000 | 524285 |
| Gold Hill Mesa Metropolitan District No 2, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 5.000%, due 12/1/28 | 145000 | 158064 |
| 5.000%, due 12/1/29 | 145000 | 159435 |
| 5.250%, due 12/1/37 | 200000 | 221004 |
| Grand River Hospital District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.250%, due 12/1/37 | 425000 | 453591 |
| Jefferson County School District R-1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 12/15/34 | 3000000 | 3274152 |
|  |  | 10248864 |
| **Connecticut — 3.6%** |  |  |
| City of Bridgeport CT, General Obligation Bonds |  |  |
| Series A |  |  |
| 5.000%, due 11/1/33 | 600000 | 660520 |
| 5.000%, due 9/1/38 | 1250000 | 1404029 |
| City of Hartford CT, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 5.000%, due 4/1/30 | 100000 | 100428 |
| City of New Britain CT, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 5.000%, due 3/1/30 | 155000 | 177191 |
| 5.000%, due 3/1/36 | 400000 | 454618 |
| Series B Insured: AGM |  |  |
| 5.250%, due 9/1/30 | 600000 | 680019 |
| City of West Haven CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 9/15/27 | 240000 | 256198 |
| 4.000%, due 9/15/28 | 290000 | 311245 |
| 4.000%, due 3/15/29 | 200000 | 215159 |
| Connecticut State Health & Educational Facilities Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;0.500%, due 7/1/42<sup>(a),(b)</sup> | 2000000 | 2000000 |
| Series I-1 |  |  |
| 5.000%, due 7/1/33 | 350000 | 380233 |
| Series L |  |  |
| 5.000%, due 7/1/32 | 1590000 | 1670588 |
| State of Connecticut, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 5.000%, due 4/15/34 | 1875000 | 2140081 |
| State of Connecticut Special Tax Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 5/1/36 | 500000 | 525143 |
| 4.000%, due 5/1/39 | 1500000 | 1535799 |
| 5.250%, due 7/1/40 | 1000000 | 1163085 |
| Town of Hamden CT, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 8/15/32 | 350000 | 405555 |
|  |  | 14079891 |
| **District of Columbia — 1.2%** |  |  |
| District of Columbia, General Obligation Bonds |  |  |
| Series D |  |  |
| 5.000%, due 6/1/42 | 1485000 | 1595694 |
| District of Columbia Housing Finance Agency, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 9/1/40<sup>(a),(b)</sup> | 3035000 | 3101645 |
|  |  | 4697339 |
| **Florida — 5.0%** |  |  |
| City of Miami Beach FL Water & Sewer Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 12/1/34 | 1000000 | 1078506 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Florida (continued)** |  |  |
| City of Pompano Beach FL, Revenue Bonds |  |  |
| Series B-2 |  |  |
| 1.450%, due 1/1/27 | $250000 | $221339 |
| City of West Palm Beach FL Utility System Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 10/1/42 | 3500000 | 3738837 |
| County of Miami-Dade FL Aviation Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 10/1/38 | 400000 | 404824 |
| County of Miami-Dade FL Transit System, Revenue Bonds |  |  |
| 5.000%, due 7/1/43 | 4500000 | 5070538 |
| Florida Development Finance Corp., Revenue Bonds |  |  |
| 5.000%, due 2/1/34 | 1405000 | 1491239 |
| Series A |  |  |
| 4.000%, due 7/1/24 | 200000 | 200582 |
| Florida Housing Finance Corp., Revenue Bonds |  |  |
| Series G |  |  |
| &nbsp;&nbsp;4.500%, due 5/1/26<sup>(a),(b)</sup> | 3000000 | 3080814 |
| Fort Pierce Utilities Authority, Revenue Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 10/1/27 | 700000 | 777333 |
| 5.000%, due 10/1/31 | 400000 | 472383 |
| 5.000%, due 10/1/33 | 200000 | 237116 |
| 5.000%, due 10/1/37 | 425000 | 485658 |
| 5.000%, due 10/1/39 | 475000 | 537627 |
| North Springs Improvement District, Special Assessment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 5/1/28 | 60000 | 64532 |
| 4.000%, due 5/1/30 | 45000 | 49399 |
| Tampa Bay Water, Revenue Bonds |  |  |
| 5.000%, due 10/1/39 | 1600000 | 1837975 |
|  |  | 19748702 |
| **Georgia — 3.4%** |  |  |
| City of Atlanta GA Water & Wastewater Revenue, Revenue Bonds |  |  |
| 5.000%, due 11/1/38 | 1000000 | 1086618 |
| 5.000%, due 11/1/40 | 500000 | 520149 |
| Main Street Natural Gas, Inc., Revenue Bonds |  |  |
| Series B |  |  |
| &nbsp;&nbsp;4.000%, due 8/1/49<sup>(a),(b)</sup> | 1925000 | 1937658 |
| Series G |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/48<sup>(a),(b)</sup> | 5300000 | 5321106 |
| Municipal Electric Authority of Georgia, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 1/1/36 | 1000000 | 1080624 |
| 5.000%, due 1/1/38 | 500000 | 532958 |
| Private Colleges & Universities Authority, Revenue Bonds |  |  |
| 4.000%, due 4/1/39 | 450000 | 453159 |
| Walton County Water & Sewer Authority, Revenue Bonds |  |  |
| 5.250%, due 2/1/38 | 250000 | 299469 |
| 5.250%, due 2/1/39 | 425000 | 506688 |
| 5.250%, due 2/1/40 | 450000 | 532041 |
| 5.250%, due 2/1/41 | 400000 | 468936 |
| 5.250%, due 2/1/42 | 350000 | 407610 |
| 5.250%, due 2/1/43 | 425000 | 493847 |
|  |  | 13640863 |
| **Guam — 0.3%** |  |  |
| Guam Government Waterworks Authority, Revenue Bonds |  |  |
| 5.250%, due 7/1/33 | 500000 | 505782 |
| Guam Power Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 10/1/34 | 600000 | 670892 |
|  |  | 1176674 |
| **Illinois — 11.7%** |  |  |
| Carol Stream Park District, General Obligation Bonds |  |  |
| Series C Insured: BAM |  |  |
| 4.000%, due 11/1/26 | 485000 | 512962 |
| Chicago O'Hare International Airport, Revenue Bonds |  |  |
| Series B |  |  |
| 5.000%, due 1/1/39 | 2700000 | 2928367 |
| Chicago Park District, General Obligation Bonds |  |  |
| Series C Insured: BAM |  |  |
| 5.000%, due 1/1/27 | 250000 | 254591 |
| Series D |  |  |
| 4.000%, due 1/1/34 | 1000000 | 1028615 |
| 4.000%, due 1/1/35 | 645000 | 656751 |
| Series E Insured: BAM |  |  |
| 4.000%, due 11/15/31 | 500000 | 517683 |
| City of Chicago IL, General Obligation Bonds |  |  |
| Series A |  |  |
| 4.000%, due 1/1/36 | 750000 | 727796 |
| 5.000%, due 1/1/32 | 1500000 | 1614732 |
| 5.250%, due 1/1/28 | 1000000 | 1026408 |
| 5.500%, due 1/1/40 | 1000000 | 1085987 |
| City of Joliet IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 12/15/38 | 1000000 | 1131690 |
| 5.250%, due 12/15/39 | 1000000 | 1148707 |
| 5.250%, due 12/15/40 | 1000000 | 1144327 |
| Cook County Township High School District No 220 Reavis, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 12/1/25 | 600000 | 638479 |
| County of Sangamon IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 12/15/26 | 240000 | 263044 |
| Illinois Development Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;2.920%, due 7/15/25<sup>(d)</sup> | 500000 | 465632 |
| Illinois Finance Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 10/1/38 | 2000000 | 2013288 |
| 5.000%, due 8/15/32 | 1500000 | 1755531 |
| Lake County School District No 112 North Shore, General Obligation Bonds |  |  |
| 4.000%, due 12/1/37 | 1000000 | 1035663 |
| Macon & De Witt Counties Community Unit School District No 2 Maroa-Forsyth, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 12/1/31 | 500000 | 546772 |
| 4.000%, due 12/1/32 | 550000 | 600761 |
| 4.000%, due 12/1/40 | 1000000 | 1025084 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Illinois (continued)** |  |  |
| Madison County Community Unit School District No 8 Bethalto, General Obligation Bonds |  |  |
| Series B Insured: BAM |  |  |
| 4.000%, due 12/1/31 | $700000 | $755848 |
| Madison-Macoupin Etc Counties Community College District No 536, General Obligation Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 11/1/32 | 320000 | 347611 |
| Northern Illinois University, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 10/1/26 | 250000 | 267931 |
| 5.000%, due 10/1/28 | 650000 | 715903 |
| 5.000%, due 10/1/30 | 690000 | 770694 |
| Sales Tax Securitization Corp., Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 1/1/38 | 1800000 | 1804660 |
| 5.000%, due 1/1/30 | 500000 | 568433 |
| Sangamon & Morgan Counties Community Unit School District No 16 New Berlin, General Obligation Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.500%, due 12/1/36 | 350000 | 406566 |
| Sangamon Logan & Menard Counties Community Unit School Dist No 15 Williamsville, General Obligation Bonds |  |  |
| Series B Insured: BAM |  |  |
| 5.000%, due 12/1/32 | 500000 | 568966 |
| Southwestern Illinois Development Authority, Revenue Bonds |  |  |
| 4.000%, due 4/15/31 | 450000 | 490892 |
| 4.000%, due 4/15/33 | 500000 | 539803 |
| Series B |  |  |
| 4.000%, due 10/15/24 | 165000 | 168680 |
| State of Illinois, General Obligation Bonds |  |  |
| 5.000%, due 2/1/26 | 500000 | 528069 |
| 5.500%, due 7/1/38 | 500000 | 503105 |
| Series A |  |  |
| 5.000%, due 4/1/23 | 1450000 | 1455238 |
| 5.000%, due 12/1/26 | 780000 | 832587 |
| 5.000%, due 3/1/29 | 1470000 | 1600801 |
| 5.000%, due 3/1/30 | 1000000 | 1095595 |
| Series A Insured: AGM |  |  |
| 4.125%, due 4/1/33 | 550000 | 550625 |
| Series C |  |  |
| 4.000%, due 10/1/40 | 475000 | 451163 |
| Series D |  |  |
| 5.000%, due 11/1/28 | 1000000 | 1072583 |
| State of Illinois Sales Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 6/15/27 | 600000 | 620440 |
| Town of Cicero IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 1/1/30 | 450000 | 489369 |
| Union Alexander Massac Pulaski Etc Counties Community College District No 531, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 12/1/25 | 1175000 | 1247050 |
| Village of Bolingbrook IL, General Obligation Bonds |  |  |
| Series A |  |  |
| &nbsp;&nbsp;2.510%, due 1/1/35<sup>(d)</sup> | 4000000 | 2181316 |
| Village of Franklin Park IL, Revenue Bonds |  |  |
| Series A Insured: BAM |  |  |
| 4.000%, due 10/1/30 | 350000 | 381978 |
| 4.000%, due 10/1/32 | 375000 | 408033 |
| Village of Matteson IL, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 12/1/29 | 465000 | 522511 |
| Village of Mundelein IL, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 12/15/39 | 100000 | 102356 |
| Village of Stone Park IL, General Obligation Bonds |  |  |
| Series B Insured: BAM |  |  |
| 4.000%, due 2/1/23 | 135000 | 135000 |
| Will County School District No 114 Manhattan, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 3.500%, due 1/1/26 | 840000 | 848411 |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 1/1/36 | 445000 | 511789 |
| 5.250%, due 1/1/39 | 555000 | 634843 |
| Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No 6 Fieldcrest, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 4.000%, due 12/1/35 | 500000 | 525644 |
|  |  | 46227363 |
| **Indiana — 2.1%** |  |  |
| City of Bloomington IN Waterworks Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 7/1/39 | 2690000 | 3007603 |
| 5.000%, due 1/1/42 | 1525000 | 1698026 |
| Greater Clark Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| 6.000%, due 7/15/34 | 1000000 | 1270197 |
| Indiana Finance Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 1.400%, due 8/1/29 | 1000000 | 895151 |
| 5.000%, due 10/1/41 | 1000000 | 1063845 |
| MSD of Wash Township School Building Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: ST INTERCEPT |  |  |
| 5.000%, due 7/15/35 | 225000 | 254326 |
|  |  | 8189148 |
| **Iowa — 1.2%** |  |  |
| City of Coralville IA, General Obligation Bonds |  |  |
| Series A |  |  |
| 4.000%, due 5/1/23 | 520000 | 520899 |
| 4.000%, due 5/1/24 | 1305000 | 1315723 |
| Iowa Higher Education Loan Authority, Revenue Bonds |  |  |
| 5.000%, due 10/1/34 | 300000 | 321362 |
| 5.000%, due 10/1/35 | 360000 | 381692 |
| 5.000%, due 10/1/36 | 365000 | 384109 |
| Jesup Community School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 6/1/24 | 420000 | 433409 |
| 5.000%, due 6/1/25 | 440000 | 464791 |
| 5.000%, due 6/1/26 | 465000 | 503365 |
| 5.000%, due 6/1/27 | 490000 | 542079 |
|  |  | 4867429 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Kansas — 0.8%** |  |  |
| City of Dodge City KS, General Obligation Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 9/1/28 | $365000 | $415170 |
| 5.000%, due 9/1/31 | 420000 | 494103 |
| Johnson County Unified School District No 233 Olathe, General Obligation Bonds |  |  |
| Series A |  |  |
| 4.000%, due 9/1/36 | 1700000 | 1805351 |
| Wyandotte County Unified School District No 500 Kansas City, General Obligation Bonds |  |  |
| Series A |  |  |
| 4.125%, due 9/1/37 | 500000 | 533103 |
|  |  | 3247727 |
| **Kentucky — 1.8%** |  |  |
| City of Berea KY, Revenue Bonds |  |  |
| Series A |  |  |
| &nbsp;&nbsp;1.200%, due 6/1/32<sup>(a),(b)</sup> | 600000 | 600000 |
| Kentucky Economic Development Finance Authority, Revenue Bonds |  |  |
| Series B |  |  |
| &nbsp;&nbsp;2.900%, due 4/1/31<sup>(a),(b)</sup> | 3500000 | 3500000 |
| Kentucky Public Energy Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 2/1/50<sup>(a),(b)</sup> | 2325000 | 2331464 |
| Louisville & Jefferson County Visitors and Convention Commission, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 6/1/36 | 75000 | 76974 |
| Louisville/Jefferson County Metropolitan Government, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 10/1/32 | 500000 | 532064 |
|  |  | 7040502 |
| **Louisiana — 0.8%** |  |  |
| Cameron Parish School District No 15, General Obligation Bonds |  |  |
| 5.000%, due 10/1/23 | 205000 | 207557 |
| 5.000%, due 10/1/29 | 290000 | 326597 |
| City of Shreveport LA Water & Sewer Revenue, Revenue Bonds |  |  |
| Series C Insured: BAM |  |  |
| 5.000%, due 12/1/31 | 100000 | 111402 |
| City of Youngsville LA Sales Tax Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 5/1/32 | 250000 | 274934 |
| 4.000%, due 5/1/34 | 300000 | 324254 |
| Louisiana Stadium & Exposition District, Revenue Bonds |  |  |
| 4.000%, due 7/3/23 | 1750000 | 1751909 |
|  |  | 2996653 |
| **Maine — 0.2%** |  |  |
| Finance Authority of Maine, Revenue Bonds |  |  |
| Series A-1 Insured: AGC |  |  |
| 5.000%, due 12/1/26 | 155000 | 166148 |
| Maine Health & Higher Educational Facilities Authority, Revenue Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 7/1/32 | 500000 | 577785 |
|  |  | 743933 |
| **Maryland — 1.3%** |  |  |
| City of Baltimore MD, Revenue Bonds |  |  |
| Series A Insured: BAM |  |  |
| 4.000%, due 7/1/38 | 900000 | 931053 |
| Maryland Community Development Administration, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 9/1/42 | 1000000 | 1051214 |
| State of Maryland, General Obligation Bonds |  |  |
| Series A |  |  |
| 5.000%, due 3/15/32 | 585000 | 693626 |
| 5.000%, due 6/1/37 | 2100000 | 2481850 |
|  |  | 5157743 |
| **Massachusetts — 0.9%** |  |  |
| Commonwealth of Massachusetts, General Obligation Bonds |  |  |
| Series C |  |  |
| 5.000%, due 5/1/46 | 1250000 | 1361772 |
| Massachusetts Development Finance Agency, Revenue Bonds |  |  |
| Series E |  |  |
| 5.000%, due 7/1/37 | 500000 | 511152 |
| Massachusetts Housing Finance Agency, Revenue Bonds |  |  |
| Series B |  |  |
| 0.800%, due 12/1/25 | 540000 | 499201 |
| Massachusetts School Building Authority, Revenue Bonds |  |  |
| Series B |  |  |
| 5.000%, due 11/15/34 | 1000000 | 1091948 |
|  |  | 3464073 |
| **Michigan — 2.9%** |  |  |
| County of Genesee MI, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 6/1/26 | 190000 | 205359 |
| 5.000%, due 6/1/28 | 90000 | 101473 |
| 5.000%, due 6/1/30 | 210000 | 245558 |
| Great Lakes Water Authority Sewage Disposal System Revenue, Revenue Bonds |  |  |
| Series C |  |  |
| 5.000%, due 7/1/36 | 1000000 | 1058051 |
| Great Lakes Water Authority Water Supply System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 7/1/46 | 1000000 | 1057471 |
| Michigan Finance Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 4/15/29 | 1000000 | 1149368 |
| 5.000%, due 2/15/34 | 235000 | 259757 |
| Series A Class 1 |  |  |
| 4.000%, due 6/1/34 | 500000 | 506005 |
| Michigan State Building Authority, Revenue Bonds |  |  |
| 5.000%, due 4/15/41 | 1175000 | 1240357 |
| Michigan State Housing Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 12/1/25<sup>(a),(b)</sup> | 1000000 | 1029010 |
| Richmond Community Schools, General Obligation Bonds |  |  |
| Series I Insured: Q-SBLF |  |  |
| 4.000%, due 5/1/36 | 1450000 | 1521365 |
| 4.000%, due 5/1/37 | 2655000 | 2766820 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Michigan (continued)** |  |  |
| Wyoming Public Schools, General Obligation Bonds |  |  |
| Series III Insured: AGM |  |  |
| 4.000%, due 5/1/41 | $500000 | $508004 |
|  |  | 11648598 |
| **Minnesota — 1.4%** |  |  |
| City of Minneapolis MN/St Paul Housing & Redevelopment Authority, Revenue Bonds |  |  |
| Series A |  |  |
| &nbsp;&nbsp;1.200%, due 11/15/35<sup>(a),(b)</sup> | 4000000 | 4000000 |
| Minneapolis Special School District No 1, General Obligation Bonds |  |  |
| Series B Insured: SD CRED PROG |  |  |
| 5.000%, due 2/1/31 | 1250000 | 1408854 |
|  |  | 5408854 |
| **Missouri — 2.1%** |  |  |
| City of Kansas City MO, Revenue Bonds |  |  |
| Series C |  |  |
| 5.000%, due 9/1/26 | 1300000 | 1421275 |
| 5.000%, due 9/1/28 | 1000000 | 1139135 |
| Health & Educational Facilities Authority of the State of Missouri, Revenue Bonds |  |  |
| 4.000%, due 8/1/25 | 150000 | 147380 |
| Hickman Mills 1 School District, General Obligation Bonds |  |  |
| Series C-1 Insured: BAM |  |  |
| 5.750%, due 3/1/42 | 3390000 | 3903615 |
| Wright City R-II School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 6.000%, due 3/1/27 | 150000 | 170846 |
| 6.000%, due 3/1/29 | 150000 | 179710 |
| 6.000%, due 3/1/31 | 35000 | 43837 |
| 6.000%, due 3/1/33 | 500000 | 643790 |
| 6.000%, due 3/1/35 | 530000 | 674484 |
|  |  | 8324072 |
| **Montana — 0.1%** |  |  |
| Montana Facility Finance Authority, Revenue Bonds |  |  |
| 5.000%, due 6/1/24 | 375000 | 385480 |
| **Nebraska — 1.4%** |  |  |
| Central Plains Energy Project, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 12/1/49<sup>(a),(b)</sup> | 1500000 | 1519102 |
| &nbsp;&nbsp;5.000%, due 3/1/50<sup>(a),(b)</sup> | 3500000 | 3538261 |
| City of Kearney NE, General Obligation Bonds |  |  |
| 4.000%, due 5/15/32 | 340000 | 352668 |
|  |  | 5410031 |
| **Nevada — 0.7%** |  |  |
| City of North Las Vegas NV, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 6/1/36 | 825000 | 852166 |
| Clark County School District, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 5.000%, due 6/15/37 | 845000 | 966754 |
| County of Clark NV, General Obligation Bonds |  |  |
| Series A |  |  |
| 4.000%, due 7/1/39 | 1000000 | 1006654 |
|  |  | 2825574 |
| **New Hampshire — 0.2%** |  |  |
| New Hampshire Business Finance Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 4/1/30 | 675000 | 698964 |
| **New Jersey — 3.3%** |  |  |
| Atlantic County Improvement Authority (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 7/1/32 | 325000 | 376875 |
| Essex County Improvement Authority, Revenue Bonds |  |  |
| 4.000%, due 7/15/28 | 415000 | 423647 |
| New Jersey Economic Development Authority, Revenue Bonds |  |  |
| 4.914%, due 3/1/24 | 1000000 | 1001972 |
| Series A |  |  |
| 4.000%, due 11/1/39 | 1000000 | 1001820 |
| New Jersey Educational Facilities Authority, Revenue Bonds |  |  |
| Series C Insured: AGM |  |  |
| 5.000%, due 7/1/25 | 470000 | 496958 |
| Series F Insured: BAM |  |  |
| 5.000%, due 7/1/25 | 300000 | 318730 |
| New Jersey Health Care Facilities Financing Authority, Revenue Bonds |  |  |
| Series A Insured: AGM |  |  |
| 4.125%, due 7/1/38 | 290000 | 292704 |
| New Jersey Housing & Mortgage Finance Agency, Revenue Bonds |  |  |
| Series A |  |  |
| &nbsp;&nbsp;3.500%, due 7/1/25<sup>(a),(b)</sup> | 4000000 | 4006225 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds |  |  |
| Series A |  |  |
| &nbsp;&nbsp;3.050%, due 12/15/26<sup>(d)</sup> | 650000 | 578229 |
| Series AA |  |  |
| 5.000%, due 6/15/37 | 1300000 | 1414704 |
| New Jersey Turnpike Authority, Revenue Bonds |  |  |
| Series B |  |  |
| 5.000%, due 1/1/42 | 1000000 | 1112817 |
| &nbsp;&nbsp;&nbsp; Series D-1 |  |  |
| &nbsp;&nbsp;3.758%, (1-Month LIBOR + 0.70%), due 1/1/24<sup>(a)</sup> | 1000000 | 1004322 |
| Salem County Improvement Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 8/15/30 | 195000 | 202168 |
| 4.000%, due 8/15/31 | 180000 | 187075 |
| South Jersey Port Corp., Revenue Bonds |  |  |
| Series B |  |  |
| 5.000%, due 1/1/31 | 500000 | 533263 |
|  |  | 12951509 |
| **New Mexico — 0.2%** |  |  |
| Albuquerque Metropolitan Arroyo Flood Control Authority, General Obligation Bonds |  |  |
| 5.000%, due 8/1/27 | 650000 | 728459 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **New York — 7.4%** |  |  |
| Camden Central School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 3/15/27 | $1180000 | $1256875 |
| City of New York NY, General Obligation Bonds |  |  |
| 5.250%, due 10/1/47 | 3000000 | 3394065 |
| City of Syracuse NY, General Obligation Bonds |  |  |
| Series A Insured: AGM |  |  |
| 4.000%, due 5/15/32 | 250000 | 268476 |
| County of Nassau NY, General Obligation Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 1/1/26 | 1000000 | 1079113 |
| Series B Insured: AGM |  |  |
| 5.000%, due 4/1/38 | 1500000 | 1670924 |
| County of Suffolk NY, General Obligation Bonds |  |  |
| Series C Insured: BAM |  |  |
| 5.000%, due 2/1/23 | 410000 | 410000 |
| Metropolitan Transportation Authority, Revenue Bonds |  |  |
| Series A-1 |  |  |
| 5.000%, due 11/15/29 | 500000 | 522395 |
| Series B Insured: AMBAC |  |  |
| 5.250%, due 11/15/24 | 500000 | 517625 |
| Series C |  |  |
| 5.000%, due 11/15/38 | 250000 | 250458 |
| 5.000%, due 11/15/42 | 500000 | 500124 |
| Monroe County Industrial Development Corp., Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 12/1/36 | 375000 | 368790 |
| New York City Housing Development Corp., Revenue Bonds |  |  |
| Series F-2A |  |  |
| &nbsp;&nbsp;3.400%, due 11/1/62<sup>(a),(b)</sup> | 780000 | 786599 |
| New York City Transitional Finance Authority Building Aid Revenue, Revenue Bonds |  |  |
| Series S-3 |  |  |
| 5.000%, due 7/15/33 | 150000 | 170044 |
| New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds |  |  |
| 4.000%, due 5/1/43 | 215000 | 214294 |
| Series A-1 |  |  |
| 4.000%, due 11/1/38 | 1000000 | 1023976 |
| Series A-4 |  |  |
| &nbsp;&nbsp;1.250%, due 8/1/39<sup>(a),(b)</sup> | 900000 | 900000 |
| Series C1 |  |  |
| 4.000%, due 11/1/42 | 1000000 | 1000271 |
| New York Liberty Development Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 2/15/43 | 2000000 | 1982305 |
| Class 1 |  |  |
| 2.450%, due 9/15/69 | 500000 | 457244 |
| Series A Insured: AGM |  |  |
| 2.750%, due 11/15/41 | 1070000 | 880476 |
| New York State Dormitory Authority, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 3/15/39 | 500000 | 508087 |
| 4.000%, due 3/15/41 | 1500000 | 1506409 |
| Series E |  |  |
| 3.000%, due 3/15/41 | 500000 | 428588 |
| 5.000%, due 3/15/41 | 2000000 | 2170084 |
| New York State Housing Finance Agency, Revenue Bonds |  |  |
| Series A |  |  |
| 0.750%, due 11/1/25 | 285000 | 261872 |
| New York State Thruway Authority, Revenue Bonds |  |  |
| Series A-1 |  |  |
| 4.000%, due 3/15/43 | 1165000 | 1167083 |
| New York State Urban Development Corp., Revenue Bonds |  |  |
| 4.000%, due 3/15/38 | 650000 | 659095 |
| Port Authority of New York & New Jersey, Revenue Bonds |  |  |
| 5.250%, due 5/15/42 | 1000000 | 1094707 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| &nbsp;&nbsp;2.000%, due 5/15/45<sup>(a),(b)</sup> | 1345000 | 1280662 |
| Series B-3 |  |  |
| 5.000%, due 11/15/38 | 1000000 | 1054462 |
| Series D-2 |  |  |
| 5.250%, due 5/15/47 | 1250000 | 1417022 |
|  |  | 29202125 |
| **North Carolina — 0.5%** |  |  |
| North Carolina Medical Care Commission, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 9/1/41 | 1095000 | 893120 |
| North Carolina Turnpike Authority, Revenue Bonds |  |  |
| 5.000%, due 2/1/24 | 1000000 | 1023381 |
|  |  | 1916501 |
| **North Dakota — 0.3%** |  |  |
| City of Grand Forks ND, Revenue Bonds |  |  |
| 4.000%, due 12/1/37 | 1250000 | 1232606 |
| **Ohio — 2.0%** |  |  |
| Akron Bath Copley Joint Township Hospital District, Revenue Bonds |  |  |
| 4.000%, due 11/15/33 | 1260000 | 1269830 |
| American Municipal Power, Inc., Revenue Bonds |  |  |
| 5.000%, due 2/15/41 | 1000000 | 1037246 |
| City of Toledo OH, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.250%, due 12/1/36 | 1000000 | 1160868 |
| 5.500%, due 12/1/39 | 1330000 | 1547391 |
| City of Upper Arlington OH, General Obligation Bonds |  |  |
| 5.250%, due 12/1/35 | 750000 | 803179 |
| Cloverleaf Local School District, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.375%, due 12/1/37 | 1000000 | 1101059 |
| Crestview Local School District/Columbiana County, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 12/1/37 | 320000 | 331683 |
| State of Ohio, Revenue Bonds |  |  |
| Series E |  |  |
| 5.000%, due 1/15/35 | 500000 | 544349 |
|  |  | 7795605 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Oregon — 0.4%** |  |  |
| State of Oregon, General Obligation Bonds |  |  |
| Series F |  |  |
| 5.000%, due 5/1/35 | $1500000 | $1576175 |
| **Pennsylvania — 1.8%** |  |  |
| Allegheny County Sanitary Authority, Revenue Bonds |  |  |
| 5.000%, due 12/1/40 | 500000 | 526608 |
| City of Erie PA, General Obligation Bonds |  |  |
| Series C Insured: AGM |  |  |
| &nbsp;&nbsp;3.860%, due 11/15/37<sup>(d)</sup> | 750000 | 430282 |
| Delaware Valley Regional Finance Authority, Revenue Bonds |  |  |
| Series B Insured: AMBAC |  |  |
| 5.700%, due 7/1/27 | 1000000 | 1128037 |
| Indiana County Industrial Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 5/1/27 | 250000 | 269980 |
| Lancaster County Hospital Authority, Revenue Bonds |  |  |
| 5.000%, due 11/1/38 | 1100000 | 1199281 |
| Lancaster Industrial Development Authority, Revenue Bonds |  |  |
| 4.000%, due 7/1/31 | 100000 | 93262 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds |  |  |
| 4.000%, due 1/1/29 | 450000 | 462182 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds |  |  |
| Series A Insured: AGC |  |  |
| &nbsp;&nbsp;3.785%, (3-Month LIBOR + 0.60%), due 7/1/27<sup>(a)</sup> | 140000 | 137833 |
| Pennsylvania Housing Finance Agency, Revenue Bonds |  |  |
| 5.750%, due 10/1/53 | 865000 | 956373 |
| Pittsburgh Water & Sewer Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 9/1/36 | 1285000 | 1469300 |
| Series A Insured: AGM |  |  |
| 5.000%, due 9/1/32 | 550000 | 634058 |
|  |  | 7307196 |
| **Puerto Rico — 0.2%** |  |  |
| Puerto Rico Electric Power Authority, Revenue Bonds |  |  |
| Series PP Insured: NATL |  |  |
| 5.000%, due 7/1/24 | 25000 | 25030 |
| Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth, Revenue Bonds |  |  |
| 5.000%, due 7/1/28 | 400000 | 439369 |
| 5.000%, due 7/1/29 | 425000 | 472470 |
|  |  | 936869 |
| **Rhode Island — 0.9%** |  |  |
| Providence Public Building Authority, Revenue Bonds |  |  |
| Series B Insured: AGM |  |  |
| 5.000%, due 6/15/32 | 250000 | 282485 |
| Rhode Island Health and Educational Building Corp., Revenue Bonds |  |  |
| 5.000%, due 5/15/25 | 500000 | 516090 |
| Series F |  |  |
| 5.500%, due 5/15/39 | 1320000 | 1533583 |
| 5.500%, due 5/15/41 | 180000 | 206974 |
| Rhode Island Housing and Mortgage Finance Corp., Revenue Bonds |  |  |
| Series 77-A |  |  |
| 5.000%, due 10/1/28 | 350000 | 390306 |
| Rhode Island Infrastructure Bank, Revenue Bonds |  |  |
| 4.000%, due 10/1/34 | 650000 | 713478 |
|  |  | 3642916 |
| **South Carolina — 1.2%** |  |  |
| South Carolina Public Service Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.250%, due 12/1/37 | 2000000 | 2275352 |
| Series B |  |  |
| 5.000%, due 12/1/36 | 100000 | 103988 |
| Spartanburg County School District No 4, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: SCSDE |  |  |
| 5.000%, due 3/1/42 | 2210000 | 2509313 |
|  |  | 4888653 |
| **South Dakota — 0.8%** |  |  |
| Baltic School District No 49-1, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.500%, due 12/1/38 | 300000 | 320420 |
| 4.500%, due 12/1/42 | 325000 | 340506 |
| County of Lawrence SD, Certificates of Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 12/1/32 | 455000 | 500260 |
| 4.000%, due 12/1/33 | 660000 | 722007 |
| 4.000%, due 12/1/34 | 500000 | 541746 |
| Tri-Valley School District No 49-6, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 7/15/32 | 200000 | 221837 |
| 4.000%, due 7/15/33 | 380000 | 420334 |
|  |  | 3067110 |
| **Tennessee — 1.5%** |  |  |
| Health Educational and Housing Facility Board of The City of Memphis (The), Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 7/1/27<sup>(a),(b)</sup> | 1305000 | 1377296 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd, Revenue Bonds |  |  |
| &nbsp;&nbsp;4.000%, due 4/1/26<sup>(a),(b)</sup> | 3000000 | 3050594 |
| Metropolitan Government of Nashville & Davidson County TN Electric Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 5/15/42 | 1000000 | 1073828 |
| Tennessee Energy Acquisition Corp., Revenue Bonds |  |  |
| Series B |  |  |
| 5.625%, due 9/1/26 | 500000 | 528343 |
|  |  | 6030061 |
| **Texas — 15.5%** |  |  |
| Alamito Public Facility Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;3.500%, due 9/1/25<sup>(a),(b)</sup> | 8000000 | 8026618 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Allen Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| 5.000%, due 2/15/35 | $2515000 | $2685432 |
| Arlington Higher Education Finance Corp., Revenue Bonds |  |  |
| Series A Insured: PSF-GTD |  |  |
| 5.000%, due 8/15/32 | 2200000 | 2629552 |
| Barbers Hill Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| 4.000%, due 2/15/41 | 1000000 | 1023494 |
| City of Alvin TX Water & Sewer System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 2/1/27 | 1225000 | 1350895 |
| City of Amarillo TX Waterworks & Sewer System Revenue, Revenue Bonds |  |  |
| 4.000%, due 4/1/41 | 1360000 | 1369610 |
| City of Arlington TX, Tax Allocation |  |  |
| 5.000%, due 8/15/30 | 150000 | 166448 |
| City of Arlington TX Special Tax Revenue, Special Tax |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 2/15/43 | 250000 | 265117 |
| City of Austin TX, General Obligation Bonds |  |  |
| 5.000%, due 9/1/23 | 260000 | 263972 |
| City of Austin TX Electric Utility Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 11/15/45 | 1455000 | 1509686 |
| City of Austin TX Water & Wastewater System Revenue, Revenue Bonds |  |  |
| 5.000%, due 5/15/23 | 1100000 | 1108333 |
| 5.000%, due 11/15/23 | 1000000 | 1020509 |
| City of Georgetown TX Utility System Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 8/15/26 | 1000000 | 1085063 |
| City of San Antonio TX Electric & Gas Systems Revenue, Revenue Bonds |  |  |
| 4.000%, due 2/1/34 | 250000 | 259817 |
| 5.000%, due 2/1/44 | 1035000 | 1111366 |
| City of Temple TX, Tax Allocation |  |  |
| Series A Insured: BAM |  |  |
| 5.000%, due 8/1/27 | 125000 | 137664 |
| Clifton Higher Education Finance Corp., Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| 3.000%, due 8/15/34 | 180000 | 179317 |
| 3.000%, due 8/15/35 | 250000 | 244366 |
| 5.000%, due 8/15/27 | 570000 | 632348 |
| Series A |  |  |
| 5.000%, due 8/15/31 | 435000 | 491150 |
| Conroe Local Government Corp, Revenue Bonds |  |  |
| 5.000%, due 10/1/31 | 125000 | 146879 |
| County of Parker TX, General Obligation Bonds |  |  |
| 5.000%, due 2/15/42 | 6625000 | 6989767 |
| Edinburg Consolidated Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| 5.000%, due 2/15/35 | 1235000 | 1315345 |
| Fort Bend County Municipal Utility District No 215, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 9/1/24 | 125000 | 127991 |
| Grand Parkway Transportation Corp., Revenue Bonds |  |  |
| 4.000%, due 10/1/37 | 750000 | 772222 |
| Greater Greenspoint Redevelopment Authority, Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 9/1/32 | 350000 | 381491 |
| 4.000%, due 9/1/33 | 370000 | 400165 |
| Greater Texoma Utility Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 5.000%, due 10/1/36 | 2485000 | 2838537 |
| Guadalupe-Blanco River Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 6.000%, due 8/15/42 | 1980000 | 2374083 |
| Harris County Flood Control District, Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 10/1/38 | 1265000 | 1299284 |
| Harris County Municipal Utility District No 423, General Obligation Bonds |  |  |
| Series A Insured: BAM |  |  |
| 6.500%, due 4/1/28 | 300000 | 342772 |
| 6.500%, due 4/1/29 | 325000 | 370935 |
| Houston Higher Education Finance Corp., Revenue Bonds |  |  |
| 1.500%, due 10/1/23 | 230000 | 223924 |
| Series A Insured: PSF-GTD |  |  |
| 4.000%, due 2/15/39 | 1915000 | 1920728 |
| Hutto Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| 5.000%, due 8/1/27 | 355000 | 397043 |
| Laredo Independent School District, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: PSF-GTD |  |  |
| 5.000%, due 8/1/29 | 650000 | 758362 |
| Montgomery County Municipal Utility District No 95, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 5.000%, due 9/1/41 | 560000 | 586857 |
| North Texas Tollway Authority, Revenue Bonds |  |  |
| 5.250%, due 1/1/38 | 1000000 | 1155652 |
| Sabine-Neches Navigation District, General Obligation Bonds |  |  |
| 5.250%, due 2/15/37 | 1000000 | 1149901 |
| 5.250%, due 2/15/41 | 2000000 | 2245164 |
| San Antonio Public Facilities Corp., Revenue Bonds |  |  |
| 5.000%, due 9/15/27 | 575000 | 641935 |
| Southwest Higher Education Authority, Inc., Revenue Bonds |  |  |
| Series A |  |  |
| 4.000%, due 10/1/42 | 3000000 | 3000558 |
| State of Texas, General Obligation Bonds |  |  |
| Series A |  |  |
| 5.000%, due 10/1/44 | 1000000 | 1042060 |
| Texas Municipal Gas Acquisition & Supply Corp. II, Revenue Bonds |  |  |
| Series C |  |  |
| &nbsp;&nbsp;3.838%, (3-Month LIBOR + 0.69%), due 9/15/27<sup>(a)</sup> | 2190000 | 2168965 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** |
| **Municipal Bonds (continued)** |  |  |
| **Texas (continued)** |  |  |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds |  |  |
| 4.000%, due 6/30/33 | $500000 | $512258 |
| Texas Water Development Board, Revenue Bonds |  |  |
| 5.000%, due 8/1/41 | 1000000 | 1143993 |
| Series A |  |  |
| 5.000%, due 10/15/43 | 1000000 | 1080936 |
| Uptown Development Authority, Tax Allocation |  |  |
| Series A |  |  |
| 5.000%, due 9/1/35 | 500000 | 515982 |
|  |  | 61464546 |
| **Utah — 1.4%** |  |  |
| Intermountain Power Agency, Revenue Bonds |  |  |
| 5.000%, due 7/1/41 | 1000000 | 1128094 |
| Series A |  |  |
| 5.000%, due 7/1/29 | 750000 | 877026 |
| 5.000%, due 7/1/30 | 500000 | 594857 |
| State of Utah, General Obligation Bonds |  |  |
| Series B |  |  |
| 3.539%, due 7/1/25 | 1002001 | 987842 |
| Utah Associated Municipal Power Systems, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 9/1/31 | 500000 | 556088 |
| Utah Charter School Finance Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: BAM |  |  |
| 4.000%, due 4/15/40 | 250000 | 244902 |
| Utah Infrastructure Agency, Revenue Bonds |  |  |
| 4.000%, due 10/15/32 | 540000 | 588261 |
| Series A |  |  |
| 3.000%, due 10/15/24 | 520000 | 508238 |
| Vineyard Redevelopment Agency, Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insured: AGM |  |  |
| 4.000%, due 5/1/33 | 150000 | 163770 |
|  |  | 5649078 |
| **Vermont — 0.6%** |  |  |
| City of Burlington VT Airport Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 7/1/26 | 605000 | 649773 |
| University of Vermont and State Agricultural College, Revenue Bonds |  |  |
| 5.000%, due 10/1/40 | 1500000 | 1558491 |
|  |  | 2208264 |
| **Virginia — 0.3%** |  |  |
| James City County Economic Development Authority, Revenue Bonds |  |  |
| &nbsp;&nbsp;5.000%, due 2/1/26<sup>(a),(b)</sup> | 1000000 | 1032082 |
| Norfolk Airport Authority, Revenue Bonds |  |  |
| 5.000%, due 7/1/28 | 150000 | 169399 |
|  |  | 1201481 |
| **Washington — 1.3%** |  |  |
| County of King WA Sewer Revenue, Revenue Bonds |  |  |
| Series A |  |  |
| &nbsp;&nbsp;1.890%, (Municipal Swap Index + 0.23%), due 1/1/40<sup>(a)</sup> | 3000000 | 2922068 |
| Energy Northwest, Revenue Bonds |  |  |
| Series A |  |  |
| 5.000%, due 7/1/38 | 1000000 | 1047056 |
| Seattle Housing Authority, Revenue Bonds |  |  |
| 1.000%, due 6/1/26 | 270000 | 249704 |
| Spokane Public Facilities District, Revenue Bonds |  |  |
| 5.000%, due 12/1/35 | 535000 | 566070 |
| Washington State Convention Center Public Facilities District, Revenue Bonds |  |  |
| Series B |  |  |
| 4.000%, due 7/1/43 | 535000 | 468052 |
|  |  | 5252950 |
| **West Virginia — 0.8%** |  |  |
| City of Wheeling WV Waterworks & Sewerage System Revenue, Revenue Bonds |  |  |
| Series A Insured: BAM |  |  |
| 4.000%, due 6/1/29 | 460000 | 503418 |
| West Virginia Hospital Finance Authority, Revenue Bonds |  |  |
| 5.000%, due 9/1/39 | 1500000 | 1575521 |
| West Virginia Parkways Authority, Revenue Bonds |  |  |
| 5.000%, due 6/1/43 | 860000 | 919454 |
|  |  | 2998393 |
| **Wisconsin — 1.6%** |  |  |
| PMA Levy & Aid Anticipation Notes Program, Revenue Notes |  |  |
| Series A |  |  |
| 4.000%, due 3/1/23 | 1000000 | 1001095 |
| 4.000%, due 4/19/23 | 1000000 | 1002672 |
| 4.000%, due 8/24/23 | 490000 | 493335 |
| Public Finance Authority, Revenue Bonds |  |  |
| 4.000%, due 10/1/23 | 40000 | 39920 |
| 4.000%, due 10/1/24 | 35000 | 34804 |
| 4.000%, due 10/1/30 | 265000 | 255312 |
| 4.000%, due 10/1/31 | 390000 | 371535 |
| 4.000%, due 10/1/32 | 390000 | 368390 |
| 4.000%, due 10/1/33 | 420000 | 393191 |
| 4.000%, due 10/1/34 | 390000 | 360056 |
| Racine Unified School District, Revenue Notes |  |  |
| 4.000%, due 8/9/23 | 1500000 | 1504993 |
| Wisconsin Health & Educational Facilities Authority, Revenue Bonds |  |  |
| Series A Insured: AGM |  |  |
| 5.000%, due 2/15/33 | 425000 | 478881 |
| Wisconsin Housing & Economic Development Authority Housing Revenue, Revenue Bonds |  |  |
| &nbsp;&nbsp;0.500%, due 11/1/50<sup>(a),(b)</sup> | 235000 | 221602 |
|  |  | 6525786 |
| **Total Municipal Bonds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $384,032,658)** |  | 384906296 |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Short-Term Investment — 1.7%** |  |  |
| **Money Market Fund — 1.7%** |  |  |
| Dreyfus Tax Exempt Cash Management - Institutional, 1.66%<sup>(e)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $6,863,362)** | 6863727 | $**6863362** |
| **Total Investments — 99.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $390,896,020)** |  | **391769658** |
| **Other Assets and Liabilities, Net — 1.0%** |  | **3771659** |
| **Net Assets — 100.0%** |  | $**395541317** |

---

(a) Variable rate securities that may
 be tendered back to the issuer at any time prior to maturity at par. Rate shown is the rate in effect as of January 31, 2023.

(b) Adjustable rate security with an interest rate that is
 not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions.

(c) Less than 0.05%.

(d) The security was issued on a discount basis with no stated
 coupon rate. Rate shown reflects the effective yield.

(e) Reflects the 7-day yield at January 31, 2023.

---

| | |
|:---|:---|
| **Abbreviations** | **Abbreviations** |
| AGC | - Assured Guaranty Corp. |
| AGM | - Assured Guaranty Municipal Corp. |
| AMBAC | - Ambac Assurance Corp. |
| BAM | - Build America Mutual Assurance Co. |
| LIBOR | - London InterBank Offered Rate |
| MSD | - Metropolitan School District |
| NATL | - National Public Finance Guarantee Corp. |
| PSF-GTD | - Permanent School Fund Guaranteed. |
| Q-SBLF | - Qualified School Bond Loan Fund |
| SCSDE | - South Carolina Department of Education |
| SD CRED PROG | - School District Credit Enhancement Program |
| ST HGR ED INTERCEPT PROG | - State Higher Education Intercept Program |
| ST INTERCEPT | - State Tax Intercept |

---

Schedule of Investments ─ IQ MacKay Municipal Intermediate ETF (continued)

January 31, 2023 (unaudited)

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2023. For more information on the valuation techniques, and their aggregation into the levels used in the table below, please refer to the Fund's most recent semi-annual or annual financial statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| Investments in Securities:<sup>(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | $– | $384906296 | $– | $384906296 |
| Short-Term Investment: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Fund | 6863362 | – | – | 6863362 |
| Total Investments in Securities | $6863362 | $384906296 | $– | $391769658 |

---

(f) For a complete listing of investments and their states, see the Schedule of Investments.

For the period ended January 31, 2023, the Fund did not have any transfers into or out of Level 3 within the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** IndexIQ Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** IQ MacKay Municipal Intermediate ETF

- **b. EDGAR series identifier (if any):** S000057661

- **c. LEI of Series:** 5493000OQOCJBWLENV85

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**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:** $394501923.23

**Total Liabilities:** $2669589.38

**Net Assets:** $391832333.85

**Delayed Delivery Securities:** $2449126.20

**Cash Not Reported:** $681.78

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 700.18985000 | **1-Year:** 14364.92658000 | **5-Year:** 69917.87757000 | **10-Year:** 145551.71808000 | **30-Year:** 6593.50313000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000184311 | 4.44%                | 0.27%                | 2.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2515529.48             | $15558401.66                               |
| Month 2  | $-472320.56              | $263749.29                                 |
| Month 3  | $-257825.82              | $8487022.29                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MONTANA FAC FIN AUTH HLTH FACS     | Montana Facility Finance Authority                                               | CUSIP: 61204MCK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $385480.01    | 0.10%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE NM MET ARROYO FLOO     | Albuquerque Metropolitan Arroyo Flood Control Authority                          | CUSIP: 013572MT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $728459.03    | 0.19%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHREVEPORT LA WTR & SWR REVENU     | City of Shreveport LA Water & Sewer Revenue                                      | CUSIP: 825485WM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $111402.30    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519FF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1982304.80   | 0.51%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY AFFORD     | New York State Housing Finance Agency                                            | CUSIP: 64987JGA3<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    285000 | PA      | $261871.79    | 0.07%             | 2025-11-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                                  | CUSIP: 348430PG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $472382.84    | 0.12%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CD9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    410000 | PA      | $459885.03    | 0.12%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RACINE WI UNIF SCH DIST            | Racine Unified School District                                                   | CUSIP: 750046QQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504992.60   | 0.38%             | 2023-08-09      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT     | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74527EFJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $439369.24    | 0.11%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TBZ9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1891979.10   | 0.48%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                                  | CUSIP: 348430PJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $237115.66    | 0.06%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 4521527E5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    475000 | PA      | $451163.22    | 0.12%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN     | Florida Development Finance Corp                                                 | CUSIP: 34061UGH5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200581.76    | 0.05%             | 2024-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST                      | State of California                                                              | CUSIP: 13063CX54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527142.80    | 0.13%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAWRENCE CNTY SD COPS              | County of Lawrence SD                                                            | CUSIP: 519842CB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $500260.17    | 0.13%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BEREA KY EDUCTNL FACS REVENUE      | City of Berea KY                                                                 | CUSIP: 083536AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.15%             | 2032-06-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                     | CUSIP: 665245YZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $770693.57    | 0.20%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990FW83<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508086.65    | 0.13%             | 2039-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59259YE54<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500124.20    | 0.13%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DAK8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5300000 | PA      | $5321106.19   | 1.36%             | 2048-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SYRACUSE NY                        | City of Syracuse NY                                                              | CUSIP: 8717027B6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $268475.95    | 0.07%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST      | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 6461367B1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1414704.07   | 0.36%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROSEVILLE CA NATURAL GAS FIN A     | Roseville Natural Gas Financing Authority                                        | CUSIP: 777863AR2<br>LEI: 549300UJZ7YWGGGM4856 | Long             | DBT              | MUN               | US        |    560000 | PA      | $568262.07    | 0.15%             | 2024-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY     | Louisville/Jefferson County Metropolitan Government                              | CUSIP: 54659LBQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532064.00    | 0.14%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                                | CUSIP: 479754NM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1131689.70   | 0.29%             | 2038-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ARPT AUTH REVENUE       | Norfolk Airport Authority/VA                                                     | CUSIP: 655857DW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $169398.42    | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO SPL OBLG            | City of Kansas City MO                                                           | CUSIP: 485106YN2<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1421274.79   | 0.36%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA          | Municipal Electric Authority of Georgia                                          | CUSIP: 6262074D3<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080624.20   | 0.28%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY CO SCH DIST #R-     | Jefferson County School District R-1                                             | CUSIP: 4727362T3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3274151.70   | 0.84%             | 2034-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SALES TAX REVENUE      | State of Illinois Sales Tax Revenue                                              | CUSIP: 452227RC7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    600000 | PA      | $620440.02    | 0.16%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU     | City of Atlanta GA Water & Wastewater Revenue                                    | CUSIP: 047870NE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520148.75    | 0.13%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND RIVER CO HOSP DIST           | Grand River Hospital District                                                    | CUSIP: 386448EQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $453591.28    | 0.12%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167486M55<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    750000 | PA      | $727795.73    | 0.19%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BURLINGTON VT ARPT REVENUE         | City of Burlington VT Airport Revenue                                            | CUSIP: 122064DS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $649773.15    | 0.17%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU     | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UHZ0<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    475000 | PA      | $480053.72    | 0.12%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO SPL OBLG            | City of Kansas City MO                                                           | CUSIP: 485106YQ5<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1139135.10   | 0.29%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPPER ARLINGTON OH                 | City of Upper Arlington OH                                                       | CUSIP: 915489D47<br>LEI: 5493002KHBEUI9TNXM57 | Long             | DBT              | MUN               | US        |    750000 | PA      | $803179.20    | 0.20%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU     | New Jersey Turnpike Authority                                                    | CUSIP: 646140EQ2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112817.30   | 0.28%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YOUNGSVILLE LA SALES TAX           | City of Youngsville LA Sales Tax Revenue                                         | CUSIP: 987733CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $324253.98    | 0.08%             | 2034-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO SCH DIST HICKM     | Hickman Mills C-1 School District/MO                                             | CUSIP: 46741RDE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3390000 | PA      | $3903615.17   | 1.00%             | 2042-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX TAX INCREMENT REV     | City of Arlington TX                                                             | CUSIP: 04184HAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $166448.01    | 0.04%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY N W WA ELEC REVENUE         | Energy Northwest                                                                 | CUSIP: 29270CJ89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047056.20   | 0.27%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST HAVEN CT                      | City of West Haven CT                                                            | CUSIP: 953140T34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $215159.20    | 0.05%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KELSEYVILLE CA UNIF SCH DIST       | Kelseyville Unified School District                                              | CUSIP: 488224DQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $23946.53     | 0.01%             | 2033-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167486L80<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1614732.30   | 0.41%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167486P60<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085986.70   | 0.28%             | 2040-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDEPENDENT CITIES FIN AUTH CA     | Independent Cities Finance Authority                                             | CUSIP: 45384PAL9<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |    700000 | PA      | $728324.31    | 0.19%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH SPRINGS FL IMPT DIST         | North Springs Improvement District                                               | CUSIP: 662542CX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $49398.65     | 0.01%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45204FJF3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1755531.30   | 0.45%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED     | Clifton Higher Education Finance Corp                                            | CUSIP: 187145NT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $491149.76    | 0.13%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF VERMONT & ST AGRIC CLG     | University of Vermont and State Agricultural College                             | CUSIP: 915200VQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1558490.85   | 0.40%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $273608.65    | 0.07%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACON & DE WITT CNTYS IL CMNTY     | Macon & De Witt Counties Community Unit School District No 2 Maroa-Forsyth       | CUSIP: 555483FC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025083.70   | 0.26%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ELEC UTILITY SYS REV     | City of Austin TX Electric Utility Revenue                                       | CUSIP: 052414PU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1509686.03   | 0.39%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL TRANSIT SAL     | County of Miami-Dade FL Transit System                                           | CUSIP: 59334PKQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $5070537.90   | 1.29%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAMPA BAY FL WTR REGL WTR SPLY     | Tampa Bay Water                                                                  | CUSIP: 875124HE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1837974.88   | 0.47%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARKER CNTY TX                     | County of Parker TX                                                              | CUSIP: 701060JG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6625000 | PA      | $6989767.20   | 1.78%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL TWP HIGH SCH DIST     | Cook County Township High School District No 220 Reavis                          | CUSIP: 216146HL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $638478.66    | 0.16%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO     | Tennessee Energy Acquisition Corp                                                | CUSIP: 880443BT2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528342.90    | 0.13%             | 2026-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALG     | Black Belt Energy Gas District                                                   | CUSIP: 09182RAR2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    600000 | PA      | $601995.00    | 0.15%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH     | Maricopa County Industrial Development Authority                                 | CUSIP: 56681NCL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315370.14    | 0.08%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AKRON BATH COPLEY JT TWP OH HO     | Akron Bath Copley Joint Township Hospital District                               | CUSIP: 009730PQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1269829.89   | 0.32%             | 2033-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAMDEN NY CENTRL SCH DIST          | Camden Central School District                                                   | CUSIP: 133123LZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1256874.64   | 0.32%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRESNO CA UNIF SCH DIST            | Fresno Unified School District                                                   | CUSIP: 358233CT9<br>LEI: 549300WL4QIP65TFU882 | Long             | DBT              | MUN               | US        |    650000 | PA      | $738345.40    | 0.19%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWR      | Puerto Rico Electric Power Authority                                             | CUSIP: 74526QCM2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25029.85     | 0.01%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KS UNIF SCH DIS     | Wyandotte County Unified School District No 500 Kansas City                      | CUSIP: 982696QX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533103.65    | 0.14%             | 2037-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST                   | Commonwealth of Massachusetts                                                    | CUSIP: 57582RWY8<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1361772.50   | 0.35%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R     | Massachusetts Development Finance Agency                                         | CUSIP: 57584XWS6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511151.60    | 0.13%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $674483.99    | 0.17%             | 2035-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS      | Maine Health & Higher Educational Facilities Authority                           | CUSIP: 56042RG55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $577784.85    | 0.15%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R     | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758D34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1535798.70   | 0.39%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602HEN3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1417022.50   | 0.36%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G     | Central Plains Energy Project                                                    | CUSIP: 154871CT2<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3538260.95   | 0.90%             | 2050-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIC SD SCH DIST #49-1           | Baltic School District No 49-1                                                   | CUSIP: 058827EV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $320420.10    | 0.08%             | 2038-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBD1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     40000 | PA      | $39920.40     | 0.01%             | 2023-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971QZA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.23%             | 2039-08-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE     | New Jersey Economic Development Authority                                        | CUSIP: 64577XBC9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001820.00   | 0.26%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH REV            | Southwestern Illinois Development Authority                                      | CUSIP: 84552YRA1<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    450000 | PA      | $490892.40    | 0.13%             | 2031-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CORALVILLE IA                      | City of Coralville IA                                                            | CUSIP: 218080KD0<br>LEI: 549300UKC7MMW46X6P25 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1315722.53   | 0.34%             | 2024-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KEARNEY NE                         | City of Kearney NE                                                               | CUSIP: 4868907G5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $352667.52    | 0.09%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST         | San Diego Unified School District/CA                                             | CUSIP: 7973555Y6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071989.50   | 0.27%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARBERS HILL TX INDEP SCH DIST     | Barbers Hill Independent School District                                         | CUSIP: 067167B21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023494.40   | 0.26%             | 2041-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Building Aid Revenue                | CUSIP: 64972HY55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $170044.49    | 0.04%             | 2033-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH     | West Virginia Hospital Finance Authority                                         | CUSIP: 956622T95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1575521.25   | 0.40%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                                  | CUSIP: 41429KDL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $342772.50    | 0.09%             | 2028-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBQ2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    390000 | PA      | $360056.03    | 0.09%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AB69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1128093.90   | 0.29%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE VLY PA REGL FIN AUTH      | Delaware Valley Regional Finance Authority                                       | CUSIP: 246579DT0<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1128037.30   | 0.29%             | 2027-07-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SPL SCH DIST #1     | Minneapolis Special School District No 1                                         | CUSIP: 603790LU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1408853.75   | 0.36%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBP4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    420000 | PA      | $393190.69    | 0.10%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452152RS2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    550000 | PA      | $550625.41    | 0.14%             | 2033-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEW BRITAIN CT                     | City of New Britain CT                                                           | CUSIP: 642714EH8<br>LEI: 549300MERJSUOPGAV271 | Long             | DBT              | MUN               | US        |    155000 | PA      | $177190.85    | 0.05%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHEELING WV WTRWKS & SWR SYS R     | City of Wheeling WV Waterworks & Sewerage System Revenue                         | CUSIP: 963270GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $503417.42    | 0.13%             | 2029-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CICERO IL                          | Town of Cicero IL                                                                | CUSIP: 171646SD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $489369.33    | 0.12%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                                  | CUSIP: 348430PQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $537627.61    | 0.14%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN PARK IL                   | Village of Franklin Park IL                                                      | CUSIP: 354496LM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $381977.93    | 0.10%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBM1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    390000 | PA      | $371535.37    | 0.09%             | 2031-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA HSG FIN AGY M     | District of Columbia Housing Finance Agency                                      | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3035000 | PA      | $3101645.26   | 0.79%             | 2040-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ALLEN TX INDEP SCH DIST            | Allen Independent School District                                                | CUSIP: 018106KF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2685432.24   | 0.69%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 837151T25<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2275351.80   | 0.58%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLOOMINGTON IN WTRWKS REVENUE      | City of Bloomington IN Waterworks Revenue                                        | CUSIP: 094743PD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1698026.04   | 0.43%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1338197.87   | 0.34%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACON & DE WITT CNTYS IL CMNTY     | Macon & De Witt Counties Community Unit School District No 2 Maroa-Forsyth       | CUSIP: 555483EV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $546772.20    | 0.14%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING      | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70870FAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $462182.09    | 0.12%             | 2029-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT&     | Salt River Project Agricultural Improvement & Power District                     | CUSIP: 79574CED1<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2800446.04   | 0.71%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST INFRASTRUCTURE AGY TEL     | Utah Infrastructure Agency                                                       | CUSIP: 917471AT1<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    540000 | PA      | $588260.93    | 0.15%             | 2032-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAMERON PARISH LA SCH DIST #15     | Cameron Parish School District No 15                                             | CUSIP: 133565BY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $326597.25    | 0.08%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH PERSO     | New York State Thruway Authority                                                 | CUSIP: 650028XD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1167083.02   | 0.30%             | 2043-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX FLOOD CONTROL D     | Harris County Flood Control District                                             | CUSIP: 4140187B1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1299283.65   | 0.33%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON & MORGAN CNTYS IL CMN     | Sangamon & Morgan Counties Community Unit School District No 16 New Berlin       | CUSIP: 800803DQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $406565.92    | 0.10%             | 2036-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| YOUNGSVILLE LA SALES TAX           | City of Youngsville LA Sales Tax Revenue                                         | CUSIP: 987733CC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $274934.20    | 0.07%             | 2032-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED     | Clifton Higher Education Finance Corp                                            | CUSIP: 187145MD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244365.65    | 0.06%             | 2035-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN PARK IL                   | Village of Franklin Park IL                                                      | CUSIP: 354496LP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $408032.81    | 0.10%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VINEYARD REDEV AGY UT TAX INCR     | Vineyard Redevelopment Agency                                                    | CUSIP: 92743FBV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $163770.45    | 0.04%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON CNTY KS UNIF SCH DIST#     | Johnson County Unified School District No 233 Olathe                             | CUSIP: 4787182D0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1805350.87   | 0.46%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP      | Arlington Higher Education Finance Corp                                          | CUSIP: 041807BB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2629551.98   | 0.67%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PMA LEVY & AID ANTIC NTS PROGR     | PMA Levy & Aid Anticipation Notes Program                                        | CUSIP: 730146CR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001095.10   | 0.26%             | 2023-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT     | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74527EFK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $472469.57    | 0.12%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON      | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592113BY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3050593.80   | 0.78%             | 2026-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA CMNTY CLG SYS BRD OF T     | Alabama Community College System                                                 | CUSIP: 01025PMD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $444132.42    | 0.11%             | 2032-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL      | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20774YXC6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1670588.04   | 0.43%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONROE TX LOCAL GOVT CORP HOTE     | Conroe Local Government Corp                                                     | CUSIP: 20841CAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $146879.23    | 0.04%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MACON & DE WITT CNTYS IL CMNTY     | Macon & De Witt Counties Community Unit School District No 2 Maroa-Forsyth       | CUSIP: 555483EW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $600761.26    | 0.15%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL PARK DIST               | Chicago Park District                                                            | CUSIP: 167615D75<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254590.50    | 0.06%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH WTR SP     | Great Lakes Water Authority Water Supply System Revenue                          | CUSIP: 39081JBG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057470.90   | 0.27%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $643789.35    | 0.16%             | 2033-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU     | Wisconsin Housing & Economic Development Authority Housing Revenue               | CUSIP: 976904Y30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $221601.66    | 0.06%             | 2050-11-01      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| ADAMS ST UNIV CO INSTNL ENTERP     | Adams State University                                                           | CUSIP: 006395AY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1272218.51   | 0.32%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN HLTH EDUCTNL & HSG      | Health Educational and Housing Facility Board of the City of Memphis/the         | CUSIP: 586169GB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $828384.91    | 0.21%             | 2027-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED     | Clifton Higher Education Finance Corp                                            | CUSIP: 187145MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $179316.68    | 0.05%             | 2034-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH STUDENT      | Arizona Industrial Development Authority                                         | CUSIP: 04052VAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $337827.69    | 0.09%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMDEN CT                          | Town of Hamden CT                                                                | CUSIP: 406793AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $405555.47    | 0.10%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT     | New Jersey Educational Facilities Authority                                      | CUSIP: 646066TW0<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    470000 | PA      | $496957.56    | 0.13%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                               | CUSIP: 725304US6<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    550000 | PA      | $634057.44    | 0.16%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R     | City of Grand Forks ND                                                           | CUSIP: 38546WDJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1232605.75   | 0.31%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALAMITO TX PUBLIC FACS CORP MF     | Alamito Public Facility Corp                                                     | CUSIP: 011245AG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4013308.80   | 1.02%             | 2025-09-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| TEXAS ST WTR DEV BRD               | Texas Water Development Board                                                    | CUSIP: 8828548A3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1143993.40   | 0.29%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNDELEIN IL                       | Village of Mundelein IL                                                          | CUSIP: 626082JD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102355.84    | 0.03%             | 2039-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CA CITY FING AUTH       | Sacramento City Financing Authority                                              | CUSIP: 785849QF0<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2934019.50   | 0.75%             | 2023-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                        | CUSIP: 38060PAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $159435.34    | 0.04%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH       | Pittsburgh Water & Sewer Authority                                               | CUSIP: 725304WT2<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1469299.97   | 0.37%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE     | County of Miami-Dade FL Aviation Revenue                                         | CUSIP: 59333P5W4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $404824.52    | 0.10%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE       | Illinois Finance Authority                                                       | CUSIP: 45203HB50<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2013288.40   | 0.51%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R     | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758ZZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525143.20    | 0.13%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE     | Port Authority of New York & New Jersey                                          | CUSIP: 73358WN91<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094707.50   | 0.28%             | 2042-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ATLANTIC CNTY NJ IMPT AUTH LEA     | Atlantic County Improvement Authority/The                                        | CUSIP: 048501JE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $376875.27    | 0.10%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dreyfus Tax Exempt Cash Management | Dreyfus Tax Exempt Cash Management                                               | CUSIP: 000000000<br>LEI: 5493002DL5W3JXRR0R54 | Long             | STIV             | RF                | US        |   6863727 | NS      | $6863361.54   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XKP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000270.60   | 0.26%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE RI PUBLIC BLDGS AUT     | Providence Public Building Authority                                             | CUSIP: 74381MBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $282484.85    | 0.07%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY NJ PORT CORP          | South Jersey Port Corp                                                           | CUSIP: 838530QZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $533262.85    | 0.14%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST             | Clark County School District                                                     | CUSIP: 1810592U9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $966754.53    | 0.25%             | 2037-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTEREY PENINSULA CA CMNTY CL     | Monterey Peninsula Community College District                                    | CUSIP: 612574EK5<br>LEI: 549300C8NLDKBLGMK366 | Long             | DBT              | MUN               | US        |    975000 | PA      | $721922.66    | 0.18%             | 2032-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBL3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    265000 | PA      | $255312.37    | 0.07%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA CMNTY CLG SYS BRD OF T     | Alabama Community College System                                                 | CUSIP: 01025PME0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $708317.54    | 0.18%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE TX TAX INCR                 | City of Temple TX                                                                | CUSIP: 880157BN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $137663.90    | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WS     | Guam Government Waterworks Authority                                             | CUSIP: 40065FAZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505782.50    | 0.13%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF     | Pennsylvania Housing Finance Agency                                              | CUSIP: 70879QSZ7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    865000 | PA      | $956372.55    | 0.24%             | 2053-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CALIF SPL TAX            | City of San Mateo CA                                                             | CUSIP: 79901PCV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1148281.40   | 0.29%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH     | Kentucky Public Energy Authority                                                 | CUSIP: 74440DCM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2331463.50   | 0.60%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH REV            | Southwestern Illinois Development Authority                                      | CUSIP: 84552YRC7<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $539803.00    | 0.14%             | 2033-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA ARPT REVENUE         | City of Long Beach CA Airport System Revenue                                     | CUSIP: 542403CG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $223088.74    | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALVIN TX WTRWKS & SWR REVENUE      | City of Alvin TX Water & Sewer System Revenue                                    | CUSIP: 022483PT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1350894.97   | 0.34%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESSEX CNTY NJ IMPT AUTH CHRT S     | Essex County Improvement Authority                                               | CUSIP: 29681CAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $423647.23    | 0.11%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT     | New Jersey Educational Facilities Authority                                      | CUSIP: 6460666Q8<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |    300000 | PA      | $318729.78    | 0.08%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA ARPT REVENUE         | City of Long Beach CA Airport System Revenue                                     | CUSIP: 542403DC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $174725.34    | 0.04%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST HSG FIN AUTH MF REV     | Alabama Housing Finance Authority                                                | CUSIP: 01030TAQ1<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518839.10    | 0.13%             | 2026-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LAWRENCE CNTY SD COPS              | County of Lawrence SD                                                            | CUSIP: 519842CC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $722007.07    | 0.18%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DODGE CITY KS                      | City of Dodge City KS                                                            | CUSIP: 256309E84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $494102.87    | 0.13%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC     | Health & Educational Facilities Authority of the State of Missouri               | CUSIP: 60637ATW2<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    150000 | PA      | $147379.85    | 0.04%             | 2025-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLOOMINGTON IN WTRWKS REVENUE      | City of Bloomington IN Waterworks Revenue                                        | CUSIP: 094743PC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2690000 | PA      | $3007602.65   | 0.77%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59259RWQ3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517625.25    | 0.13%             | 2024-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL      | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DTS1<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.51%             | 2042-07-01      | Variable      | 0.40%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH        | Lancaster County Hospital Authority/PA                                           | CUSIP: 514045V91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1199280.50   | 0.31%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX HGR EDU FIN CORP UN     | Houston Higher Education Finance Corp                                            | CUSIP: 44237QAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $223924.23    | 0.06%             | 2023-10-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP ARP     | City of Phoenix Civic Improvement Corp                                           | CUSIP: 71883MLA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534826.20    | 0.14%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $43837.22     | 0.01%             | 2031-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                                  | CUSIP: 477070BL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $542078.67    | 0.14%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL      | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20774YZ75<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    350000 | PA      | $380233.25    | 0.10%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIV CLGS & UNIVS AUTH GA          | Private Colleges & Universities Authority                                        | CUSIP: 74265LZ50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $453159.32    | 0.12%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| S W TX HGR EDU AUTH                | Southwest Higher Education Authority Inc                                         | CUSIP: 845040KC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000558.00   | 0.77%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $880476.25    | 0.22%             | 2041-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                                  | CUSIP: 477070BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $464791.05    | 0.12%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST CMNTY DEV ADMIN DE     | Maryland Community Development Administration                                    | CUSIP: 57419TWC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051214.30   | 0.27%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY H     | Massachusetts Housing Finance Agency                                             | CUSIP: 57587GKM6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    540000 | PA      | $499201.06    | 0.13%             | 2025-12-01      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH        | New Jersey Economic Development Authority                                        | CUSIP: 64578EMH7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001971.40   | 0.26%             | 2024-03-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| INDIANA CNTY PA INDL DEV AUTH      | Indiana County Industrial Development Authority                                  | CUSIP: 45469NDV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $269980.33    | 0.07%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH REV            | Southwestern Illinois Development Authority                                      | CUSIP: 84552YPK1<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |    165000 | PA      | $168680.00    | 0.04%             | 2024-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM AL ARPT AUTH ARPT R     | Birmingham Airport Authority                                                     | CUSIP: 090888GR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $694222.92    | 0.18%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DODGE CITY KS                      | City of Dodge City KS                                                            | CUSIP: 256309E50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $415169.91    | 0.11%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRITAIN CT                     | City of New Britain CT                                                           | CUSIP: 642714BP3<br>LEI: 549300MERJSUOPGAV271 | Long             | DBT              | MUN               | US        |    600000 | PA      | $680019.36    | 0.17%             | 2030-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $299468.75    | 0.08%             | 2038-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GREATER CLARK IN BLDG CORP         | Greater Clark Building Corp                                                      | CUSIP: 39167GJP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1270196.70   | 0.32%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP      | New York City Housing Development Corp                                           | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    780000 | PA      | $786598.80    | 0.20%             | 2062-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452152RG8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1455237.69   | 0.37%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $468935.92    | 0.12%             | 2041-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH NATIO     | Arizona Industrial Development Authority                                         | CUSIP: 04052FCP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $584355.48    | 0.15%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59259YD22<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250457.93    | 0.06%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $179710.19    | 0.05%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LAREDO TX INDEP SCH DIST           | Laredo Independent School District                                               | CUSIP: 516840ZR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $758361.70    | 0.19%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452153BQ1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    780000 | PA      | $832587.13    | 0.21%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUADALUPE-BLANCO TX RIVER AUTH     | Guadalupe-Blanco River Authority                                                 | CUSIP: 400525AT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $2374082.96   | 0.61%             | 2042-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND MI CMNTY SCHS             | Richmond Community Schools/MI                                                    | CUSIP: 765177CU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1521365.38   | 0.39%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                     | CUSIP: 968838JU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $634843.24    | 0.16%             | 2039-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AA37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $594856.70    | 0.15%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MI                    | County of Genesee MI                                                             | CUSIP: 371608WB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $245558.19    | 0.06%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA WTR & WSTWTR REVENU     | City of Atlanta GA Water & Wastewater Revenue                                    | CUSIP: 047870PA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1086618.30   | 0.28%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST ASSOCIATED MUNI PWR SY     | Utah Associated Municipal Power Systems                                          | CUSIP: 917328RV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $556087.70    | 0.14%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CITY & CNTY DEDICATE     | City & County of Denver CO Dedicated Excise Tax Revenue                          | CUSIP: 24917DAS2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1585946.70   | 0.40%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECON DEV AU     | James City County Economic Development Authority                                 | CUSIP: 47030GAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032082.10   | 0.26%             | 2026-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP R     | Monroe County Industrial Development Corp/NY                                     | CUSIP: 61075TWK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $368790.04    | 0.09%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH LOAN REVENUE     | Finance Authority of Maine                                                       | CUSIP: 56042TAW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $166147.65    | 0.04%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE      | Metropolitan Transportation Authority                                            | CUSIP: 59261ACH8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $522394.90    | 0.13%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST BUSINESS FIN      | New Hampshire Business Finance Authority                                         | CUSIP: 644684DR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $698964.19    | 0.18%             | 2030-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH AL COMMO     | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136FBL0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3265886.10   | 0.83%             | 2053-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XC97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023976.00   | 0.26%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARTFORD CT                        | City of Hartford CT                                                              | CUSIP: 416415KH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100427.83    | 0.03%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION      | Texas Municipal Gas Acquisition and Supply Corp II                               | CUSIP: 88255QBH1<br>LEI: 8E22IH4TQD26WYDGHB25 | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2168964.83   | 0.55%             | 2027-09-15      | Variable      | 3.84%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX MUNI UTILITY DI     | Harris County Municipal Utility District No 423                                  | CUSIP: 41429KDM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $370935.40    | 0.09%             | 2029-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST      | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 646136XD8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    650000 | PA      | $578229.21    | 0.15%             | 2026-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                     | CUSIP: 968838HK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $848411.42    | 0.22%             | 2026-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TOLEDO OH                          | City of Toledo OH                                                                | CUSIP: 889278ZU4<br>LEI: 549300I365GIDPR4BM68 | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1547391.29   | 0.39%             | 2039-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SABINE-NECHES NAV DIST TX          | Sabine-Neches Navigation District                                                | CUSIP: 78532EAT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2245163.60   | 0.57%             | 2041-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                     | CUSIP: 665245YX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $715902.98    | 0.18%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SACRAMENTO CITY CA UNIF SCH DI     | Sacramento City Unified School District/CA                                       | CUSIP: 785870RH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $293709.39    | 0.07%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL PARK DIST               | Chicago Park District                                                            | CUSIP: 167615W58<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |    645000 | PA      | $656750.61    | 0.17%             | 2035-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EDINBURG TX CONSOL INDEP SCH D     | Edinburg Consolidated Independent School District/TX                             | CUSIP: 280785TH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1235000 | PA      | $1315344.78   | 0.34%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRESNO CA UNIF SCH DIST            | Fresno Unified School District                                                   | CUSIP: 358233CU6<br>LEI: 549300WL4QIP65TFU882 | Long             | DBT              | MUN               | US        |    500000 | PA      | $562891.85    | 0.14%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA     | Chicago O'Hare International Airport                                             | CUSIP: 167593M33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2928367.35   | 0.75%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $407609.79    | 0.10%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST BLDG AUTH REVENUE      | Michigan State Building Authority                                                | CUSIP: 594615FY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1240356.67   | 0.32%             | 2041-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE CNTY CA CMNTY FACS D     | Riverside County Community Facilities Districts                                  | CUSIP: 76911FVB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1112561.80   | 0.28%             | 2035-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH SPRINGS FL IMPT DIST         | North Springs Improvement District                                               | CUSIP: 662542CV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $64532.18     | 0.02%             | 2028-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST                            | State of Utah                                                                    | CUSIP: 917542QV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1002001 | PA      | $987842.22    | 0.25%             | 2025-07-01      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST HSG FIN CORP MF MTG     | Florida Housing Finance Corp                                                     | CUSIP: 34074HGW6<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3080814.30   | 0.79%             | 2026-05-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE     | Iowa Higher Education Loan Authority                                             | CUSIP: 46247DAA5<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    300000 | PA      | $321361.86    | 0.08%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A     | South Carolina Public Service Authority                                          | CUSIP: 837151RP6<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103988.40    | 0.03%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $506687.76    | 0.13%             | 2039-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BENICIA CA UNIF SCH DIST           | Benicia Unified School District                                                  | CUSIP: 082023LQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $295959.63    | 0.08%             | 2023-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA HSG AUTH                | Seattle Housing Authority                                                        | CUSIP: 812636ML9<br>LEI: 5493003LM6XXXMFX5M88 | Long             | DBT              | MUN               | US        |    270000 | PA      | $249703.91    | 0.06%             | 2026-06-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| POMPANO BEACH FL REVENUE           | City of Pompano Beach FL                                                         | CUSIP: 732203BL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $221338.98    | 0.06%             | 2027-01-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH IN WSTWTR UTI     | Indiana Finance Authority                                                        | CUSIP: 45505MFD3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063845.60   | 0.27%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REVENUE               | State of Ohio                                                                    | CUSIP: 67756CFP8<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    500000 | PA      | $544349.20    | 0.14%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM     | North Carolina Medical Care Commission                                           | CUSIP: 65820YSN7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1095000 | PA      | $893120.11    | 0.23%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH STUDENT      | Arizona Industrial Development Authority                                         | CUSIP: 04052VAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $365418.85    | 0.09%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST HAVEN CT                      | City of West Haven CT                                                            | CUSIP: 953140W30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $311244.94    | 0.08%             | 2028-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALEM CNTY NJ IMPT AUTH            | Salem County Improvement Authority                                               | CUSIP: 794102GP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $187074.86    | 0.05%             | 2031-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990FZW7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506408.60   | 0.38%             | 2041-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HLTH CARE FACS F     | New Jersey Health Care Facilities Financing Authority                            | CUSIP: 64579F7Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $292704.13    | 0.07%             | 2038-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA     | Rhode Island Infrastructure Bank                                                 | CUSIP: 76222FCT3<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    650000 | PA      | $713478.48    | 0.18%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY                     | County of Nassau NY                                                              | CUSIP: 63165TR49<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1670924.55   | 0.43%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452153AJ8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095594.80   | 0.28%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX HGR EDU FIN CORP        | Houston Higher Education Finance Corp                                            | CUSIP: 442378GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1920727.57   | 0.49%             | 2039-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602N4L5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054461.70   | 0.27%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO     | Utah Infrastructure Agency                                                       | CUSIP: 917467BP6<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    520000 | PA      | $508238.02    | 0.13%             | 2024-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY     | Louisville & Jefferson County Visitors and Convention Commission                 | CUSIP: 546604FT1<br>LEI: 549300DJQHPGXYF1M317 | Long             | DBT              | MUN               | US        |     75000 | PA      | $76973.89     | 0.02%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX WTR & WSTWTR SYS REV     | City of Austin TX Water & Wastewater System Revenue                              | CUSIP: 052477PD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1108333.49   | 0.28%             | 2023-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SWR REVENUE           | County of King WA Sewer Revenue                                                  | CUSIP: 495290EF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2922068.10   | 0.75%             | 2040-01-01      | Variable      | 1.89%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN     | City of Minneapolis MN/St Paul Housing & Redevelopment Authority                 | CUSIP: 603695FU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4000000.00   | 1.02%             | 2035-11-15      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| HERCULES CA REDEV AGY SUCCESSO     | Hercules Redevelopment Agency Successor Agency                                   | CUSIP: 427078AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $567298.95    | 0.14%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIDGEPORT CT                      | City of Bridgeport CT                                                            | CUSIP: 108152AP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $660519.72    | 0.17%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH MF RE     | Michigan State Housing Development Authority                                     | CUSIP: 594650UA9<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029010.00   | 0.26%             | 2025-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSONC     | Metropolitan Government of Nashville & Davidson County TN Electric Revenue       | CUSIP: 592030J35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073827.70   | 0.27%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLOVERLEAF OH LOCAL SCH DIST C     | Cloverleaf Local School District                                                 | CUSIP: 18925PGN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101058.90   | 0.28%             | 2037-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CC1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    125000 | PA      | $138514.99    | 0.04%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                                | CUSIP: 479754NP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1144326.70   | 0.29%             | 2040-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                                  | CUSIP: 348430PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $485657.87    | 0.12%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRITAIN CT                     | City of New Britain CT                                                           | CUSIP: 642714EP0<br>LEI: 549300MERJSUOPGAV271 | Long             | DBT              | MUN               | US        |    400000 | PA      | $454617.60    | 0.12%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A     | California Health Facilities Financing Authority                                 | CUSIP: 13032UUN6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    835000 | PA      | $854487.98    | 0.22%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST WTR DEV BRD               | Texas Water Development Board                                                    | CUSIP: 882854J60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080936.20   | 0.28%             | 2043-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST HAVEN CT                      | City of West Haven CT                                                            | CUSIP: 953140W48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $256197.79    | 0.07%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALEM CNTY NJ IMPT AUTH            | Salem County Improvement Authority                                               | CUSIP: 794102GN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $202167.99    | 0.05%             | 2030-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MADISON MACOUPIN ETC CNTYS ILC     | Madison-Macoupin Etc Counties Community College District No 536/IL               | CUSIP: 557738NG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $347610.94    | 0.09%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072582.90   | 0.27%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST PARKWAYS AUTH     | West Virginia Parkways Authority                                                 | CUSIP: 956510AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $919454.21    | 0.23%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION ALEXANDER ETC CNTYS IL C     | Union Alexander Massac Pulaski Etc Counties Community College District No 531    | CUSIP: 904842DF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1247050.18   | 0.32%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                        | State of Maryland                                                                | CUSIP: 574193SJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $693625.84    | 0.18%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CO     | California Municipal Finance Authority                                           | CUSIP: 130493CF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    225000 | PA      | $257338.69    | 0.07%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX SPL TAX REVENUE       | City of Arlington TX Special Tax Revenue                                         | CUSIP: 04184RBR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265117.33    | 0.07%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY AL PUBLIC BLDG     | Montgomery County Public Facilities Authority/AL                                 | CUSIP: 613209ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $724170.88    | 0.18%             | 2033-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CRESTVIEW OH LOCAL SCH DIST CO     | Crestview Local School District/Columbiana County                                | CUSIP: 226328AH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $331683.36    | 0.08%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MI                    | County of Genesee MI                                                             | CUSIP: 371608VZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $101472.91    | 0.03%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HGR EDUCTNL FA     | Pennsylvania Higher Educational Facilities Authority                             | CUSIP: 70917RKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $137833.40    | 0.04%             | 2027-07-01      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA          | Municipal Electric Authority of Georgia                                          | CUSIP: 6262074F8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    500000 | PA      | $532958.40    | 0.14%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA                   | District of Columbia                                                             | CUSIP: 25476FVK1<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1595693.98   | 0.41%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMARILLO TX WTRWKS & SWR SYS R     | City of Amarillo TX Waterworks & Sewer System Revenue                            | CUSIP: 023108RL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1369610.44   | 0.35%             | 2041-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND MI CMNTY SCHS             | Richmond Community Schools/MI                                                    | CUSIP: 765177CV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2766819.84   | 0.71%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                        | CUSIP: 38060PAM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $221004.02    | 0.06%             | 2037-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STONE PARK IL                      | Village of Stone Park IL                                                         | CUSIP: 861700EV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135000.00    | 0.03%             | 2023-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                    | CUSIP: 79467BCV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $568433.40    | 0.15%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE     | Iowa Higher Education Loan Authority                                             | CUSIP: 46247DAB3<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    360000 | PA      | $381692.34    | 0.10%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRI-VLY SD SCH DIST #49-6          | Tri-Valley School District No 49-6                                               | CUSIP: 895761HU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $221837.22    | 0.06%             | 2032-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAGLE GARFIELD & ROUTT CNTYS C     | Eagle County School District No Re50J                                            | CUSIP: 26952QBJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    515000 | PA      | $524284.99    | 0.13%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KELSEYVILLE CA UNIF SCH DIST       | Kelseyville Unified School District                                              | CUSIP: 488224DN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $112992.18    | 0.03%             | 2031-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TA     | New York State Dormitory Authority                                               | CUSIP: 64990AMS1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2170084.00   | 0.55%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND PARKWAY TRANSPRTN CORP T     | Grand Parkway Transportation Corp                                                | CUSIP: 38611TBX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $772221.75    | 0.20%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY MI                    | County of Genesee MI                                                             | CUSIP: 371608VX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $205359.05    | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                     | State of Connecticut                                                             | CUSIP: 20772KJN0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $2140081.31   | 0.55%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE     | Iowa Higher Education Loan Authority                                             | CUSIP: 46247DAC1<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    365000 | PA      | $384109.36    | 0.10%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTMINSTER CA SCH DIST            | Westminster School District                                                      | CUSIP: 960621DK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $17664.39     | 0.00%             | 2048-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                          | City of Joliet IL                                                                | CUSIP: 479754NN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1148706.70   | 0.29%             | 2039-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAWRENCE CNTY SD COPS              | County of Lawrence SD                                                            | CUSIP: 519842CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541745.40    | 0.14%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL      | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971XLL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $214294.13    | 0.05%             | 2043-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON CNTY IL                   | County of Sangamon IL                                                            | CUSIP: 800711CQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $263043.89    | 0.07%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PMA LEVY & AID ANTIC NTS PROGR     | PMA Levy & Aid Anticipation Notes Program                                        | CUSIP: 730146CS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002671.40   | 0.26%             | 2023-04-19      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY AL PUBLIC BLDG     | Montgomery County Public Facilities Authority/AL                                 | CUSIP: 613209EF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1312865.30   | 0.34%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN HLTH EDUCTNL & HSG      | Health Educational and Housing Facility Board of the City of Memphis/the         | CUSIP: 586169GC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $548911.27    | 0.14%             | 2027-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SPOKANE WA PUBLIC FACS DIST HO     | Spokane Public Facilities District                                               | CUSIP: 849088DR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $566070.23    | 0.14%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH         | Allegheny County Sanitary Authority                                              | CUSIP: 017357A79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $526608.15    | 0.13%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVRNMNTL      | Indiana Finance Authority                                                        | CUSIP: 455059AK1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895150.80    | 0.23%             | 2029-08-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE     | City of San Antonio TX Electric & Gas Systems Revenue                            | CUSIP: 79625GBA0<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1111365.61   | 0.28%             | 2044-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL     | Rhode Island Health and Educational Building Corp                                | CUSIP: 762196W82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1533582.60   | 0.39%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN     | Will County School District No 114 Manhattan                                     | CUSIP: 968838JR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $511789.43    | 0.13%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA     | Wisconsin Health & Educational Facilities Authority                              | CUSIP: 97712D6Q4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    425000 | PA      | $478881.16    | 0.12%             | 2033-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L     | New York Liberty Development Corp                                                | CUSIP: 649519DF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $457243.60    | 0.12%             | 2069-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH      | Kentucky Economic Development Finance Authority                                  | CUSIP: 49126RAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.35   | 0.89%             | 2031-04-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU     | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UHF4<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018531.40   | 0.26%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ST     | California Municipal Finance Authority                                           | CUSIP: 13049YAZ4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    400000 | PA      | $426196.96    | 0.11%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                         | City of Chicago IL                                                               | CUSIP: 167486WL9<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026408.00   | 0.26%             | 2028-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R     | State of Connecticut Special Tax Revenue                                         | CUSIP: 207758L27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1163085.30   | 0.30%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX                          | City of Austin TX                                                                | CUSIP: 052397ZS8<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |    260000 | PA      | $263972.15    | 0.07%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES MI WTR AUTH SEWAGE     | Great Lakes Water Authority Sewage Disposal System Revenue                       | CUSIP: 39081HAS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058051.10   | 0.27%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE       | Michigan Finance Authority                                                       | CUSIP: 59447TUU5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    235000 | PA      | $259757.30    | 0.07%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU     | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667BF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512258.05    | 0.13%             | 2033-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH HOUSTON DEV CORP TX TAX      | Greater Greenspoint Redevelopment Authority                                      | CUSIP: 660027AN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $381490.52    | 0.10%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX WTR & WSTWTR SYS REV     | City of Austin TX Water & Wastewater System Revenue                              | CUSIP: 052477PE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020509.00   | 0.26%             | 2023-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                                  | CUSIP: 477070BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $433409.38    | 0.11%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MADISON CNTY IL CMNTY UNIT SCH     | Madison County Community Unit School District No 8 Bethalto                      | CUSIP: 557038FH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $755848.31    | 0.19%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST CONVENTION CENTE     | Washington State Convention Center Public Facilities District                    | CUSIP: 93976AEJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $468051.97    | 0.12%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST #2 CO      | Gold Hill Mesa Metropolitan District No 2                                        | CUSIP: 38060PAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $158064.12    | 0.04%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN     | Rhode Island Housing & Mortgage Finance Corp                                     | CUSIP: 76221RY23<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    350000 | PA      | $390306.56    | 0.10%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                        | City of New York NY                                                              | CUSIP: 64966QL57<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3394065.30   | 0.87%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WYOMING MI PUBLIC SCHS             | Wyoming Public Schools                                                           | CUSIP: 983323SZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508004.10    | 0.13%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INTERMOUNTAIN PWR AGY UT PWR S     | Intermountain Power Agency                                                       | CUSIP: 45884AA29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $877026.23    | 0.22%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOLEDO OH                          | City of Toledo OH                                                                | CUSIP: 889278ZS9<br>LEI: 549300I365GIDPR4BM68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1160867.90   | 0.30%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $493846.98    | 0.13%             | 2043-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SPARTANBURG CNTY SC SCH DIST #     | Spartanburg County School District No 4/SC                                       | CUSIP: 847031CP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2210000 | PA      | $2509312.90   | 0.64%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1762949.76   | 0.45%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FKA1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $240557.55    | 0.06%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL WTR & SWR REVEN     | City of Miami Beach FL Water & Sewer Revenue                                     | CUSIP: 593241CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078506.20   | 0.28%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE          | North Texas Tollway Authority                                                    | CUSIP: 66285WJ56<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1155652.40   | 0.29%             | 2038-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAKE CNTY IL SCH DIST #112 N S     | Lake County School District No 112 North Shore                                   | CUSIP: 509076CM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035663.30   | 0.26%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOLINGBROOK IL                     | Village of Bolingbrook IL                                                        | CUSIP: 097552RB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2181316.00   | 0.56%             | 2035-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UPTOWN DEV AUTH TX INCR CONTRA     | Uptown Development Authority                                                     | CUSIP: 916856GK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515982.30    | 0.13%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL VLY CO MET DIST #2         | Crystal Valley Metropolitan District No 2                                        | CUSIP: 22941LAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528905.55    | 0.13%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH NATIO     | Arizona Industrial Development Authority                                         | CUSIP: 04052FAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $598551.14    | 0.15%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GTR TEXOMA TX UTILITY AUTH CON     | Greater Texoma Utility Authority                                                 | CUSIP: 39239HZB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2838536.97   | 0.72%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH      | Fort Pierce Utilities Authority                                                  | CUSIP: 348430PC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $777332.85    | 0.20%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CENTRAL ARKANSAS AR RE     | University of Central Arkansas                                                   | CUSIP: 914115M56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $429486.00    | 0.11%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA INDL DEV AUTH         | Lancaster Industrial Development Authority                                       | CUSIP: 51434NAP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93261.68     | 0.02%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP REV     | New York State Urban Development Corp                                            | CUSIP: 650036AH9<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    650000 | PA      | $659094.61    | 0.17%             | 2038-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO     | New York State Dormitory Authority                                               | CUSIP: 64990FL36<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $428588.00    | 0.11%             | 2041-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CAMERON PARISH LA SCH DIST #15     | Cameron Parish School District No 15                                             | CUSIP: 133565BS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $207556.31    | 0.05%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL     | Rhode Island Health and Educational Building Corp                                | CUSIP: 762196X24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $206973.76    | 0.05%             | 2041-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTH HOUSTON DEV CORP TX TAX      | Greater Greenspoint Redevelopment Authority                                      | CUSIP: 660027AP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $400164.84    | 0.10%             | 2033-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A     | New Jersey Housing & Mortgage Finance Agency                                     | CUSIP: 646127FG0<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4006224.80   | 1.02%             | 2025-07-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| TRI-VLY SD SCH DIST #49-6          | Tri-Valley School District No 49-6                                               | CUSIP: 895761HV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $420334.38    | 0.11%             | 2033-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX MUNI UTILITY     | Fort Bend County Municipal Utility District No 215                               | CUSIP: 34683NCE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127990.95    | 0.03%             | 2024-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA     | Main Street Natural Gas Inc                                                      | CUSIP: 56035DCH3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1937657.65   | 0.49%             | 2049-08-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SANGAMON LOGAN & MENARD CNTYS      | Sangamon Logan & Menard Counties Community Unit School Dist No 15 Williamsville  | CUSIP: 800783FJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $568965.45    | 0.15%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WTR DIST OF STHRN CA WTRWK     | Metropolitan Water District of Southern California                               | CUSIP: 59266TNV9<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1192854.60   | 0.30%             | 2037-07-01      | Variable      | 1.80%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST SCH BLDG AUTH     | Massachusetts School Building Authority                                          | CUSIP: 576000UR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091948.30   | 0.28%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV     | Colorado Health Facilities Authority                                             | CUSIP: 19648FJV7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    105000 | PA      | $113342.51    | 0.03%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAROL STREAM IL PARK DIST          | Carol Stream Park District                                                       | CUSIP: 143735VP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $512961.75    | 0.13%             | 2026-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL PARK DIST               | Chicago Park District                                                            | CUSIP: 167615C84<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517683.00    | 0.13%             | 2031-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEORGETOWN TX UTILITY SYS REVE     | City of Georgetown TX Utility System Revenue                                     | CUSIP: 373064N59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085062.70   | 0.28%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU     | New Jersey Turnpike Authority                                                    | CUSIP: 646140BN2<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004322.40   | 0.26%             | 2024-01-01      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074038.90   | 0.27%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA ARPT REVENUE         | City of Long Beach CA Airport System Revenue                                     | CUSIP: 542403CZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $272301.38    | 0.07%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE     | City of San Antonio TX Electric & Gas Systems Revenue                            | CUSIP: 7962535T5<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    250000 | PA      | $259817.20    | 0.07%             | 2034-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL     | Rhode Island Health and Educational Building Corp                                | CUSIP: 762244FC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516089.60    | 0.13%             | 2025-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABINE-NECHES NAV DIST TX          | Sabine-Neches Navigation District                                                | CUSIP: 78532EAP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1149901.20   | 0.29%             | 2037-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT     | North Carolina Turnpike Authority                                                | CUSIP: 65830RCW7<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023381.30   | 0.26%             | 2024-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEROKEE CO MET DIST WTR & WST     | Cherokee Metropolitan District/CO                                                | CUSIP: 16415TBR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $218776.90    | 0.06%             | 2034-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK CNTY NY                    | County of Suffolk NY                                                             | CUSIP: 86476PWC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $410000.00    | 0.10%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT     | Utah Charter School Finance Authority                                            | CUSIP: 91754TW90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244902.25    | 0.06%             | 2040-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452152G70<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528068.50    | 0.13%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST INDL DEV & EXPORT AU     | Alaska Industrial Development & Export Authority                                 | CUSIP: 011903HC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104144.04    | 0.03%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL PARK DIST               | Chicago Park District                                                            | CUSIP: 167615W41<br>LEI: 549300DNSTZGBZLIU409 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028614.70   | 0.26%             | 2034-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD PROJ REVENUE          | City of Baltimore MD                                                             | CUSIP: 05922KU72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $931053.60    | 0.24%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN MUNI PWR-OHIO INC OH      | American Municipal Power Inc                                                     | CUSIP: 02765UMH4<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037245.50   | 0.26%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MSD OF WASH TWP SCH BLDG CORP      | MSD of Wash Township School Building Corp                                        | CUSIP: 62476HCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $254326.28    | 0.06%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W PALM BEACH FL UTILITY SYS RE     | City of West Palm Beach FL Utility System Revenue                                | CUSIP: 955121QA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3738837.20   | 0.95%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALTON CNTY GA WTR & SWR AUTH      | Walton County Water & Sewer Authority                                            | CUSIP: 93342PFG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $532041.39    | 0.14%             | 2040-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE       | Michigan Finance Authority                                                       | CUSIP: 59447TK85<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506004.75    | 0.13%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JESUP IA CMNTY SCH DIST            | Jesup Community School District                                                  | CUSIP: 477070BK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $503364.64    | 0.13%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF     | Florida Development Finance Corp                                                 | CUSIP: 34061QBH9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1491239.04   | 0.38%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP      | Sales Tax Securitization Corp                                                    | CUSIP: 79467BCY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1804660.20   | 0.46%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST DEV FIN AUTH           | Illinois Development Finance Authority                                           | CUSIP: 451913AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $465632.30    | 0.12%             | 2025-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA STADIUM & EXPOSITION     | Louisiana Stadium & Exposition District                                          | CUSIP: 546410CF6<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1751909.25   | 0.45%             | 2023-07-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WRIGHT CITY MO SCH DIST #R-2       | Wright City R-II School District                                                 | CUSIP: 982260HK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $170845.97    | 0.04%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY TX MUNI UTIL D     | Montgomery County Municipal Utility District No 95                               | CUSIP: 61370NMK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $586856.82    | 0.15%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE       | Michigan Finance Authority                                                       | CUSIP: 59447T3J0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1149368.30   | 0.29%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                        | State of Maryland                                                                | CUSIP: 574193VP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2481849.72   | 0.63%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GROSSMONT CA UNION HIGH SCH DI     | Grossmont Union High School District                                             | CUSIP: 399262KA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $909883.67    | 0.23%             | 2033-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WOODFORD LASALLE LIVINGSTON ET     | Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No 6 Fieldcrest | CUSIP: 979412BW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525644.00    | 0.13%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY                     | County of Nassau NY                                                              | CUSIP: 63165TQX6<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079112.80   | 0.28%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452153AH2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1470000 | PA      | $1600800.75   | 0.41%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORALVILLE IA                      | City of Coralville IA                                                            | CUSIP: 218080KC2<br>LEI: 549300UKC7MMW46X6P25 | Long             | DBT              | MUN               | US        |    520000 | PA      | $520899.34    | 0.13%             | 2023-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PMA LEVY & AID ANTIC NTS PROGR     | PMA Levy & Aid Anticipation Notes Program                                        | CUSIP: 730146CU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $493334.94    | 0.13%             | 2023-08-24      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REVENUE              | Guam Power Authority                                                             | CUSIP: 400653JZ5<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    600000 | PA      | $670891.68    | 0.17%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUTTO TX INDEP SCH DIST            | Hutto Independent School District                                                | CUSIP: 4484923D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $397042.79    | 0.10%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX PUB FACS CORP L     | San Antonio Public Facilities Corp                                               | CUSIP: 796334BD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $641935.00    | 0.16%             | 2027-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL      | Black Belt Energy Gas District                                                   | CUSIP: 09182TAN7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    900000 | PA      | $862227.72    | 0.22%             | 2052-10-01      | Variable      | 2.01%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED     | Clifton Higher Education Finance Corp                                            | CUSIP: 187145LV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $632347.51    | 0.16%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBN9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    390000 | PA      | $368390.18    | 0.09%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                        | State of Illinois                                                                | CUSIP: 452152TC5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503104.95    | 0.13%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC      | Public Finance Authority                                                         | CUSIP: 74444VBE9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     35000 | PA      | $34803.75     | 0.01%             | 2024-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA ARPT REVENUE         | City of Long Beach CA Airport System Revenue                                     | CUSIP: 542403DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $223088.74    | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMITO TX PUBLIC FACS CORP MF     | Alamito Public Facility Corp                                                     | CUSIP: 011245AH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4013308.80   | 1.02%             | 2025-09-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| ERIE PA                            | City of Erie PA                                                                  | CUSIP: 295407Q52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $430282.20    | 0.11%             | 2037-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTH LAS VEGAS NV                 | City of North Las Vegas NV                                                       | CUSIP: 660393R92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $852166.10    | 0.22%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRIDGEPORT CT                      | City of Bridgeport CT                                                            | CUSIP: 108152LK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1404028.63   | 0.36%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN IL UNIV REVENUES          | Northern Illinois University                                                     | CUSIP: 665245YV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $267931.20    | 0.07%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV                      | County of Clark NV                                                               | CUSIP: 180848PK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006653.60   | 0.26%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATTESON IL                        | Village of Matteson IL                                                           | CUSIP: 577098NV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $522511.25    | 0.13%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIC SD SCH DIST #49-1           | Baltic School District No 49-1                                                   | CUSIP: 058827EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $340505.59    | 0.09%             | 2042-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G     | Central Plains Energy Project                                                    | CUSIP: 154872AT2<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1519102.50   | 0.39%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL      | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602HFA0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1280662.06   | 0.33%             | 2045-05-15      | Variable      | 2.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

**Name of Applicant:** IndexIQ Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ