# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-002220
**Filing Date:** 2025-6
**Character Count:** 139545
**Document Hash:** 60573bffd727b8c4e9a5a8fcae83275b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002220.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0002000324-25-002220

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust III
- **CENTRAL INDEX KEY:** 0001722388

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23312
- **FILM NUMBER:** 251092736

**BUSINESS ADDRESS:**
- **STREET 1:** CORPORATION TRUST CENTER 1209 ORANGE ST
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 4694428424

**MAIL ADDRESS:**
- **STREET 1:** CORPORATION TRUST CENTER 1209 ORANGE ST
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Impact Shares Trust I
- **DATE OF NAME CHANGE:** 20180319

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Impact Shares Funds I Trust
- **DATE OF NAME CHANGE:** 20171113

## Series and Classes Contracts Data

### Rockefeller Opportunistic Municipal Bond ETF (Series ID: S000086370)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000251864 | Rockefeller Opportunistic Municipal Bond ETF | RMOP            |

## Nport-Ex

**Rockefeller Opportunistic Municipal Bond ETF**

**Schedule of Investments**

**April 30, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MUNICIPAL BONDS & NOTES - 98.1%** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Alabama - 1.3%** |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southeast Energy Authority A Cooperative District, Call 10/01/32, Put 01/01/33<sup>(a)</sup> | 5.25% | 03/01/55 | 2000000 | $2111197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Arizona - 2.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arizona Industrial Development Authority, Call 07/01/27<sup>(c)(d)(g)</sup> | 5.88% | 07/01/52 | 105000 | 100944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arizona Industrial Development Authority, Call 07/01/27<sup>(c)(d)(g)</sup> | 5.75% | 07/01/47 | 110000 | 105912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chandler Industrial Development Authority, Call 03/01/27, Put 09/01/27<sup>(a)</sup> | 5.00% | 09/01/42 | 140000 | 142257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial Development Authority of the County of Pima, Call 11/01/27<sup>(c)(g)</sup> | 6.50% | 11/01/47 | 970000 | 934171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;La Paz County Industrial Development Authority, Call 02/15/28<sup>(c)</sup> | 5.00% | 02/15/48 | 50000 | 46072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maricopa County & Phoenix Industrial Development Authorities, GNMA, FNMA, FHLMC, Call 03/01/33<sup>(c)</sup> | 6.25% | 03/01/55 | 300000 | 330384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sierra Vista Industrial Development Authority, Call 06/15/31<sup>(c)(d)(g)</sup> | 5.75% | 06/15/64 | 1850000 | 1773109 |
|  |  |  |  | 3432849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Arkansas - 0.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arkansas Development Finance Authority, GNMA, FNMA, FHLMC, Call 07/01/33<sup>(c)</sup> | 5.00% | 01/01/55 | 1000000 | 1042143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pulaski County Public Facilities Board, Call 06/22/25<sup>(c)</sup> | 5.00% | 12/01/42 | 210000 | 209983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pulaski County Public Facilities Board, Call 06/22/25 | 5.00% | 12/01/31 | 5000 | 5002 |
|  |  |  |  | 1257128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California - 10.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California County Tobacco Securitization Agency, Call 06/07/25<sup>(e)</sup> | 0.00% | 06/01/46 | 3750000 | 978059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California County Tobacco Securitization Agency, Call 06/22/25<sup>(d)</sup> | 6.00% | 06/01/42 | 310000 | 312538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Call 06/12/25 | 5.00% | 07/01/26 | 60000 | 60058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank, Call 07/01/31<sup>(c)(d)(g)</sup> | 5.25% | 07/01/64 | 500000 | 461405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank, Call 01/01/29, Put 01/01/2035<sup>(a)(g)</sup> | 9.50% | 01/01/65 | 1185000 | 1144468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank, Call 07/01/31<sup>(c)(d)(g)</sup> | 5.13% | 07/01/54 | 1200000 | 1110573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 01/01/32<sup>(c)(d)(g)</sup> | 5.38% | 01/01/55 | 450000 | 427067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Public Finance Authority, Call 06/01/31<sup>(c)(d)</sup> | 6.38% | 06/01/59 | 3500000 | 3197392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Public Finance Authority, Call 03/01/32<sup>(c)(d)(g)</sup> | 6.63% | 03/01/65 | 2465000 | 2335752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, STR, Call 09/01/31<sup>(c)</sup> | 5.00% | 09/01/54 | 100000 | 98826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Financing Authority, Call 06/22/25<sup>(d)</sup> | 6.00% | 05/01/43 | 200000 | 200494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lompoc Unified School District, GO, Call 08/01/35<sup>(c)(d)</sup> | 5.25% | 08/01/54 | 1045000 | 1113411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City & County Airport Commission, Call 05/01/35<sup>(c)</sup> | 5.50% | 05/01/55 | 1000000 | 1046411 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City & County Redevelopment Agency Successor Agency, TSR, Call 06/22/25<sup>(c)</sup> | 5.0% | 08/01/43 | 60000.0 | 60003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silicon Valley Tobacco Securitization Authority, Call 06/22/25<sup>(e)</sup> | 0.0% | 06/01/36 | 4000000.0 | 2162875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tender Option Bond Trust, Call 05/15/35<sup>(g)(i)</sup> | 5.5% | 05/15/55 | 2000000.0 | 2385145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Township Health Care District, GO, Call 06/12/25<sup>(c)(d)</sup> | 5.0% | 08/01/43 | 105000.0 | 104105 |
|  |  |  |  | 17198582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Colorado - 7.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baseline Metropolitan District No. 1, GO, Call 12/01/29 | 6.75% | 12/15/54 | 1000000.0 | 992754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canyons Metropolitan District No. 5, GO, Call 12/01/29 | 6.5% | 12/01/54 | 750000.0 | 741577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 05/15/45 | 135000.0 | 134992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colorado High Performance Transportation Enterprise, Call 06/12/25<sup>(c)</sup> | 5.0% | 12/31/56 | 915000.0 | 891216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Creekwalk Marketplace Business Improvement District, Call 12/01/29<sup>(c)</sup> | 6.0% | 12/01/54 | 875000.0 | 808862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crowfoot Valley Ranch Metropolitan District No. 2, GO, Call 12/01/29 | 6.13% | 12/15/54 | 1000000.0 | 985083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mineral Business Improvement District, GO, Call 12/01/29<sup>(c)(g)</sup> | 5.75% | 12/01/54 | 1000000.0 | 963792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palisade Metropolitan District No. 2, Call 12/01/29<sup>(c)(g)(f)</sup> | 0.0% | 12/15/54 | 1000000.0 | 908917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pinery Commercial Metropolitan District No. 2, Call 03/01/30<sup>(c)</sup> | 5.75% | 12/01/54 | 1000000.0 | 953190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Red Barn Metropolitan District, GO, Call 03/01/30<sup>(c)</sup> | 5.5% | 12/01/55 | 800000.0 | 733051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sky Dance Metropolitan District No. 2, GO, Call 12/01/29<sup>(c)</sup> | 6.0% | 12/01/54 | 750000.0 | 696980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sky Ranch Community Authority Board, GO, Call 12/01/29 | 6.5% | 12/15/54 | 550000.0 | 544527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Vrain Lakes Metropolitan District No. 2, GO, Call 12/01/29 | 6.38% | 11/15/54 | 500000.0 | 500717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St. Vrain Lakes Metropolitan District No. 4, GO, Call 09/01/29<sup>(c)(g)(f)</sup> | 0.0% | 09/20/54 | 1000000.0 | 665396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trevenna Metropolitan District, GO, Call 12/01/29<sup>(c)</sup> | 5.75% | 12/01/54 | 505000.0 | 466466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water Valley Metropolitan District No. 3, GO, Call 12/01/29<sup>(c)</sup> | 5.25% | 12/01/54 | 535000.0 | 496937 |
|  |  |  |  | 11484457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Connecticut - 1.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Housing Finance Authority, Call 05/15/26<sup>(c)</sup> | 3.5% | 05/15/39 | 130000.0 | 129386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stamford Housing Authority, Call 10/01/32<sup>(c)(d)</sup> | 6.25% | 10/01/60 | 750000.0 | 732495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stamford Housing Authority, Call 10/01/32<sup>(c)</sup> | 6.5% | 10/01/55 | 1000000.0 | 1005715 |
|  |  |  |  | 1867596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Delaware - 0.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware State Economic Development Authority, AGM, Call 06/22/25<sup>(c)</sup> | 5.0% | 10/01/39 | 50000.0 | 50032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware State Economic Development Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 10/01/36 | 305000.0 | 289501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware State Economic Development Authority, Call 11/15/25<sup>(c)</sup> | 5.0% | 11/15/48 | 20000.0 | 19337 |
|  |  |  |  | 358870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Florida - 11.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alachua County Health Facilities Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 12/01/44 | 710000.0 | 701036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Babcock Ranch Community Independent Special District, SA, Call 05/01/35<sup>(c)(g)</sup> | 5.25% | 05/01/55 | 1000000.0 | 968151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Projects Finance Authority, Call 03/01/32<sup>(c)(d)(g)</sup> | 7.13% | 01/01/65 | 2000000.0 | 1970564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Projects Finance Authority, Call 06/15/29<sup>(c)(g)</sup> | 5.0% | 06/15/54 | 500000.0 | 459252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Trust Authority, Call 12/01/29<sup>(c)(g)</sup> | 6.88% | 12/01/44 | 1000000.0 | 983933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Trust Authority, Call 06/15/30<sup>(c)(d)(g)</sup> | 5.25% | 06/15/59 | 500000.0 | 465784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Trust Authority, Call 07/01/31<sup>(c)(g)</sup> | 5.25% | 07/01/59 | 1000000.0 | 898513 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Trust Authority, Call 07/01/31<sup>(c)(g)</sup> | 5.25% | 07/01/54 | 1500000.0 | 1365192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Trust Authority, Call 06/01/32<sup>(c)(g)</sup> | 5.0% | 06/01/54 | 250000.0 | 225346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Venice, Call 01/01/32<sup>(c)(g)</sup> | 5.63% | 01/01/60 | 750000.0 | 725298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Miami-Dade, AGM, Call 10/01/31 | 4.0% | 10/01/41 | 750000.0 | 725286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Palm Beach, Call 10/01/34 | 5.25% | 10/01/44 | 500000.0 | 516893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Palm Beach, Call 10/01/34 | 5.25% | 10/01/43 | 500000.0 | 520249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edgewater West Community Development District, SA, Call 11/01/34<sup>(c)(d)</sup> | 5.5% | 05/01/54 | 1000000.0 | 938583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Higher Educational Facilities Financial Authority, Call 12/01/34<sup>(d)</sup> | 4.13% | 12/01/54 | 250000.0 | 217044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Housing Finance Corp., GNMA, FNMA, FHLMC, Call 07/01/33<sup>(c)</sup> | 6.25% | 01/01/55 | 1000000.0 | 1088714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Florida Housing Finance Corp., GNMA, FNMA, FHLMC, Call 07/01/33<sup>(c)</sup> | 4.65% | 07/01/54 | 500000.0 | 489265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greater Orlando Aviation Authority, Call 10/01/29<sup>(c)</sup> | 4.0% | 10/01/49 | 1000000.0 | 879493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Highlands County School Board, BAM, Call 06/22/25<sup>(c)</sup> | 5.0% | 09/01/41 | 50000.0 | 50064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miami-Dade County Expressway Authority, Call 06/22/25<sup>(c)(d)</sup> | 5.0% | 07/01/40 | 480000.0 | 480749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miami-Dade County Industrial Development Authority, Call 07/01/29<sup>(c)(d)(g)</sup> | 5.5% | 07/01/61 | 1185000.0 | 1109817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Normandy Community Development District, SA, Call 11/01/34<sup>(c)(d)(g)</sup> | 5.55% | 05/01/54 | 100000.0 | 93372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orange County Health Facilities Authority, Call 04/01/35<sup>(c)</sup> | 5.25% | 10/01/56 | 350000.0 | 358764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palm Beach County Health Facilities Authority, Call 05/15/30<sup>(c)(c)</sup> | 7.63% | 05/15/58 | 185000.0 | 206251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palm Beach County Health Facilities Authority, Call 05/15/30<sup>(c)(d)</sup> | 7.5% | 05/15/53 | 135000.0 | 150086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palm Beach County Health Facilities Authority, Call 05/15/27 | 5.0% | 05/15/37 | 235000.0 | 236345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parrish Lakes II Community Development District, SA, Call 11/01/34<sup>(c)(g)</sup> | 5.45% | 05/01/54 | 1000000.0 | 939577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pioneer Ranch Community Development District, SA, Call 11/01/34<sup>(c)(g)</sup> | 5.3% | 05/01/55 | 1000000.0 | 925679 |
|  |  |  |  | 18689300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Georgia - 1.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlanta Development Authority, TAR, Call 04/01/29<sup>(g)</sup> | 5.5% | 04/01/39 | 1000000.0 | 1003881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Development Authority for Fulton County, Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/44 | 1000000.0 | 993177 |
|  |  |  |  | 1997058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Idaho - 0.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avimor Community Infrastructure District No. 1, SA, Call 12/01/29<sup>(c)(g)</sup> | 5.5% | 09/01/53 | 1000000.0 | 966426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Illinois - 2.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport, Call 01/01/29<sup>(c)</sup> | 5.0% | 01/01/48 | 2000000.0 | 1993229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Cook, Call 01/01/35<sup>(c)</sup> | 6.5% | 01/01/45 | 1500000.0 | 1494821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority, Call 06/12/25<sup>(c)</sup> | 6.13% | 02/01/45 | 145000.0 | 145007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority, Call 06/12/25<sup>(c)</sup> | 6.0% | 02/01/34 | 100000.0 | 100019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Finance Authority, Call 06/22/25 | 5.0% | 11/15/27 | 10000.0 | 10006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois State Toll Highway Authority, Call 06/22/25 | 5.0% | 01/01/31 | 120000.0 | 120139 |
|  |  |  |  | 3863221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Indiana - 2.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Evansville, Call 06/27/25<sup>(c)</sup> | 5.45% | 01/01/38 | 1070000.0 | 967212 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Fort Wayne, Call 06/22/25 <sup>(c)</sup> | 5.35% | 01/01/38 | 715000.0 | 603133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Mishawaka, Call 06/22/25<sup>(c)(g)</sup> | 5.38% | 01/01/38 | 920000.0 | 803504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Valparaiso, Call 12/01/28<sup>(c)(g)</sup> | 5.38% | 12/01/41 | 750000.0 | 658785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Town of Merrillville, Call 06/22/25<sup>(c)</sup> | 5.75% | 04/01/36 | 945000.0 | 880536 |
|  |  |  |  | 3913170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Iowa - 1.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority, Call 05/15/30<sup>(c)(d)</sup> | 7.5% | 05/15/53 | 650000.0 | 722636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority, Call 11/01/41<sup>(c)(g)</sup> | 6.0% | 11/01/42 | 500000.0 | 478966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority, Call 06/22/25 | 4.75% | 08/01/42 | 120000.0 | 114499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Finance Authority, Call 05/15/26<sup>(c)</sup> | 5.0% | 05/15/47 | 90000.0 | 86702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iowa Higher Education Loan Authority, Call 10/01/35<sup>(c)</sup> | 6.0% | 10/01/55 | 550000.0 | 563352 |
|  |  |  |  | 1966155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Kentucky - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kenton County Airport Board, Call 01/01/34<sup>(c)</sup> | 5.25% | 01/01/54 | 500000.0 | 507723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Louisiana - 1.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Orleans Aviation Board - Class LA, Call 01/01/34<sup>(c)</sup> | 5.25% | 01/01/51 | 750000.0 | 760041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Orleans Aviation Board - Class LA, Call 01/01/34<sup>(c)</sup> | 5.25% | 01/01/49 | 750000.0 | 761581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Orleans Aviation Board - Class LA, Call 01/01/34 | 5.25% | 01/01/45 | 500000.0 | 512354 |
|  |  |  |  | 2033976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Maryland - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Department of Housing & Community Development, FHA 542(C), Call 07/01/33<sup>(c)</sup> | 4.6% | 07/01/49 | 425000.0 | 416619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland Health & Higher Educational Facilities Authority, Call 06/12/25<sup>(c)</sup> | 5.0% | 08/15/41 | 100000.0 | 99998 |
|  |  |  |  | 516617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Massachusetts - 0.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, Call 12/01/31<sup>(c)(d)(g)</sup> | 5.88% | 12/01/60 | 500000.0 | 466798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, Call 07/01/34<sup>(c)(d)(g)</sup> | 5.0% | 07/01/60 | 1000000.0 | 954278 |
|  |  |  |  | 1421076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Michigan - 1.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Strategic Fund, Call 06/22/25<sup>(c)</sup> | 6.25% | 11/15/43 | 2000000.0 | 2004284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michigan Tobacco Settlement Finance Authority, Call 06/01/33<sup>(e)</sup> | 0.0% | 06/01/58 | 28500000.0 | 860099 |
|  |  |  |  | 2864383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Minnesota - 1.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Brooklyn Park, Call 07/01/25<sup>(c)</sup> | 5.25% | 07/01/30 | 500000.0 | 475301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Eagan, Call 02/01/32<sup>(c)(d)(g)</sup> | 6.5% | 02/01/65 | 625000.0 | 598682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Eagan, Call 02/01/32<sup>(c)(d)(g)</sup> | 6.38% | 02/01/55 | 350000.0 | 333868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Eagan, Call 02/01/32<sup>(c)(d)(g)</sup> | 6.25% | 02/01/45 | 250000.0 | 239744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Minneapolis, Call 07/01/31<sup>(c)</sup> | 4.0% | 07/01/51 | 100000.0 | 68194 |
|  |  |  |  | 1715789 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Missouri - 2.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health & Educational Facilities Authority of the State of Missouri, Call 05/22/25, Put 05/22/25<sup>(a)(c)</sup> | 2.5% | 06/01/36 | 400000.0 | 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health & Educational Facilities Authority of the State of Missouri, Call 06/22/25<sup>(c)</sup> | 5.0% | 11/15/48 | 70000.0 | 67779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health & Educational Facilities Authority of the State of Missouri, Call 06/22/25<sup>(c)</sup> | 5.0% | 11/15/38 | 20000.0 | 20001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health & Educational Facilities Authority of the State of Missouri, Call 06/22/25<sup>(c)</sup> | 5.0% | 11/15/45 | 245000.0 | 241601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Missouri Development Finance Board, Call 06/22/25 | 5.0% | 06/01/27 | 20000.0 | 20019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Missouri Housing Development Commission, GNMA, FNMA, FHLMC, Call 05/01/33<sup>(c)</sup> | 5.0% | 11/01/55 | 2500000.0 | 2531702 |
|  |  |  |  | 3281102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Nevada - 0.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nevada Housing Division, GNMA, FNMA, FHLMC, Call 10/01/33<sup>(c)</sup> | 4.7% | 10/01/54 | 500000.0 | 490829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reno-Tahoe Airport Authority, Call 07/01/34<sup>(c)</sup> | 5.25% | 07/01/54 | 250000.0 | 252939 |
|  |  |  |  | 743768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**New Hampshire - 1.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, Call 12/01/26<sup>(g)</sup> | 5.38% | 12/01/31 | 1000000.0 | 975278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, Call 04/01/33<sup>(c)(d)</sup> | 5.75% | 04/01/55 | 625000.0 | 628627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, Call 04/01/33<sup>(c)(d)</sup> | 5.63% | 04/01/45 | 500000.0 | 503534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hampshire Health and Education Facilities Authority, Call 06/22/25<sup>(c)(d)</sup> | 5.0% | 08/01/43 | 120000.0 | 118836 |
|  |  |  |  | 2226275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**New York - 11.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build NYC Resource Corp., Call 06/22/25<sup>(c)(d)</sup> | 5.88% | 07/01/38 | 940000.0 | 844832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of New York, GO, Call 09/01/34<sup>(c)(d)</sup> | 4.0% | 09/01/52 | 500000.0 | 440917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clinton County Capital Resource Corp., Call 07/01/34<sup>(c)(d)(g)</sup> | 5.0% | 07/01/46 | 300000.0 | 294895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dobbs Ferry Local Development Corp., Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/44 | 55000.0 | 52969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dobbs Ferry Local Development Corp., Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/39 | 350000.0 | 342268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hempstead Town Local Development Corp., Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/44 | 2200000.0 | 2202573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County Industrial Development Corp., Call 07/01/34<sup>(c)(g)</sup> | 5.0% | 07/01/59 | 1000000.0 | 860864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTA Hudson Rail Yards Trust Obligations, Call 06/12/25 | 5.0% | 11/15/56 | 495000.0 | 492096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTA Hudson Rail Yards Trust Obligations, Call 06/12/25 | 5.0% | 11/15/51 | 95000.0 | 94994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Call 05/01/33<sup>(c)</sup> | 5.25% | 11/01/55 | 700000.0 | 711092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Call 05/01/33<sup>(c)</sup> | 5.05% | 11/01/45 | 200000.0 | 203195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Counties Tobacco Trust VI, Call 06/01/26<sup>(d)</sup> | 3.75% | 06/01/45 | 195000.0 | 146225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Call 02/15/30<sup>(c)</sup> | 4.0% | 02/15/47 | 250000.0 | 230200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/30/33<sup>(c)</sup> | 5.0% | 06/30/60 | 1100000.0 | 1056487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/22/25<sup>(c)</sup> | 5.25% | 01/01/50 | 735000.0 | 728921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/46 | 1065000.0 | 1043391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/41 | 345000.0 | 345027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 01/01/28<sup>(c)</sup> | 5.0% | 01/01/36 | 75000.0 | 75255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 10/01/30<sup>(c)(d)</sup> | 4.38% | 10/01/45 | 945000.0 | 856442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 12/31/34<sup>(c)</sup> | 5.5% | 12/31/60 | 2000000.0 | 2031733 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., AGC, Call 12/31/34 | 5.25% | 12/31/54 | 660000 | 670612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., AGC, Call 12/31/44<sup>(f)</sup> | 0.0% | 12/31/54 | 300000 | 184212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey, Call 01/15/33<sup>(c)</sup> | 5.0% | 01/15/52 | 1300000 | 1298487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;St Lawrence County Industrial Development Agency, Call 06/22/25<sup>(c)</sup> | 5.0% | 07/01/43 | 20000 | 20002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tender Option Bond Trust, Call 05/01/35<sup>(g)(i)</sup> | 5.0% | 11/01/50 | 2000000 | 2280177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge & Tunnel Authority, Call 06/01/35<sup>(c)</sup> | 5.25% | 12/01/54 | 800000 | 840421 |
|  |  |  |  | 18348287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North Carolina - 1.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North Carolina Medical Care Commission, Call 09/01/31<sup>(c)</sup> | 5.5% | 09/01/54 | 1665000 | 1572397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ohio - 11.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buckeye Tobacco Settlement Financing Authority, Call 06/01/30<sup>(e)</sup> | 0.0% | 06/01/57 | 15000000 | 1435172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buckeye Tobacco Settlement Financing Authority, Call 06/01/30 | 5.0% | 06/01/55 | 3200000 | 2796592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cleveland-Cuyahoga County Port Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 08/01/39 | 15000 | 14819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cleveland-Cuyahoga County Port Authority, Call 01/01/32<sup>(c)(d)(g)</sup> | 5.88% | 01/01/49 | 500000 | 474013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ohio Housing Finance Agency, Call 10/01/25<sup>(g)</sup> | 5.13% | 01/01/32 | 545000 | 535865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ohio Housing Finance Agency, Call 01/01/30<sup>(c)(g)</sup> | 6.0% | 01/01/45 | 1000000 | 958693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of Ohio, AGM, Call 06/30/25<sup>(c)</sup> | 5.0% | 12/31/35 | 1575000 | 1575699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worthington City School District, GO, Call 12/01/32<sup>(c)</sup> | 5.5% | 12/01/54 | 10000000 | 10605043 |
|  |  |  |  | 18395896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Oklahoma - 1.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tender Option Bond Trust, Call 01/01/35<sup>(g)(i)</sup> | 5.5% | 01/01/54 | 2000000 | 2622994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Oregon - 0.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oregon State Facilities Authority, Call 06/12/25 | 5.0% | 11/15/29 | 110000 | 110497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oregon State Facilities Authority, Call 06/12/25 | 5.0% | 04/01/32 | 600000 | 600014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oregon State Facilities Authority, Call 06/12/25 | 5.0% | 11/15/28 | 20000 | 20090 |
|  |  |  |  | 730601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pennsylvania - 1.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chester Water Authority, Call 06/22/2025 | 5.0% | 12/01/37 | 200000 | 200215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crawford County Hospital Authority, Call 06/01/26<sup>(c)(d)</sup> | 6.0% | 06/01/51 | 500000 | 500403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crawford County Hospital Authority, Call 06/01/26<sup>(c)</sup> | 6.0% | 06/01/46 | 425000 | 427234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lancaster County Hospital Authority, Call 07/01/25<sup>(c)(d)</sup> | 5.0% | 07/01/45 | 25000 | 23502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroeville Finance Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 02/01/45 | 75000 | 74999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority, Call 03/27/30, Put 03/27/35<sup>(a)(g)</sup> | 5.45% | 01/01/51 | 1500000 | 1486998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Shore Area Authority, Call 07/01/25 | 4.25% | 07/01/35 | 15000 | 13943 |
|  |  |  |  | 2727294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Puerto Rico - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Call 06/22/25<sup>(e)</sup> | 0.0% | 05/15/57 | 8000000 | 486948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Call 06/22/25<sup>(d)</sup> | 5.5% | 05/15/39 | 5000 | 5026 |
|  |  |  |  | 491974 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rhode Island - 0.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rhode Island Housing & Mortgage Finance Corp., FHA 542(C), Call 04/01/33<sup>(c)</sup> | 4.75% | 10/01/59 | 500000.0 | 496024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rhode Island Housing & Mortgage Finance Corp., FHA 542(C), Call 04/01/33<sup>(c)</sup> | 4.7% | 10/01/54 | 500000.0 | 492376 |
|  |  |  |  | 988400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**South Carolina - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Carolina Jobs-Economic Development Authority, Call 11/15/34<sup>(c)</sup> | 5.75% | 11/15/54 | 500000.0 | 509283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**South Dakota - 0.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Dakota Housing Development Authority, GNMA, FNMA, FHLMC, Call 05/01/33<sup>(c)</sup> | 6.25% | 11/01/55 | 1000000.0 | 1106030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tennessee - 0.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shelby County Health Educational & Housing Facilities Board, Call 06/22/25<sup>(c)</sup> | 5.25% | 12/01/44 | 1125000.0 | 1003940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shelby County Health Educational & Housing Facilities Board, Call 06/22/25<sup>(c)</sup> | 5.0% | 12/01/34 | 85000.0 | 81463 |
|  |  |  |  | 1085403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Texas - 5.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arlington Higher Education Finance Corp., Call 06/15/34<sup>(c)(d)</sup> | 4.25% | 06/15/59 | 850000.0 | 782929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Austin Texas Airport System, Call 06/22/25<sup>(c)</sup> | 5.0% | 11/15/44 | 100000.0 | 99992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Celina, SA, Call 09/01/32<sup>(c)(g)</sup> | 5.5% | 09/01/54 | 1500000.0 | 1391033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Friendswood, SA, Call 09/15/34<sup>(c)</sup> | 7.0% | 09/15/54 | 1500000.0 | 1442047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clifton Higher Education Finance Corp., Call 06/22/25<sup>(c)</sup> | 4.4% | 12/01/47 | 120000.0 | 105551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Harris, GO, Call 09/15/34<sup>(c)(d)</sup> | 4.0% | 09/15/49 | 500000.0 | 453433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Medina, SA, Call 09/01/32<sup>(c)(g)</sup> | 5.35% | 09/01/54 | 1000000.0 | 904303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edinburg Local Government Finance Corp., AGM, Call 06/22/25 | 5.0% | 03/01/27 | 40000.0 | 40039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fort Bend County Municipal Management District No. 1, GO, AGM, Call 06/22/25 | 4.0% | 09/01/34 | 10000.0 | 9988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hope Cultural Education Facilities Finance Corp., AGM, Call 06/12/25<sup>(c)</sup> | 5.0% | 04/01/46 | 130000.0 | 129749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hope Cultural Education Facilities Finance Corp., Call 10/01/32<sup>(c)</sup> | 6.5% | 10/01/60 | 865000.0 | 843080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Hope Cultural Education Facilities Finance Corp., Call 10/01/32<sup>(c)</sup> | 6.5% | 10/01/55 | 1780000.0 | 1745849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newark Higher Education Finance Corp., PSF-GTD, Call 08/15/34<sup>(c)(d)</sup> | 4.25% | 08/15/54 | 675000.0 | 620174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tarrant County Cultural Education Facilities Finance Corp., Call 06/22/25<sup>(c)</sup> | 4.0% | 05/15/31 | 45000.0 | 42691 |
|  |  |  |  | 8610858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Utah - 1.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mida Mountain Village Public Infrastructure District, TAR, Call 12/01/29<sup>(c)(g)</sup> | 6.0% | 06/15/54 | 500000.0 | 500927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SkyRidge Pegasus Infrastructure Financing District, SA, Call 12/01/29<sup>(c)(g)</sup> | 5.25% | 12/01/44 | 1000000.0 | 939801 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Viridian Farm Public Infrastructure District No. 1, GO, Call 03/01/30<sup>(c)(g)</sup> | 5.88% | 03/01/54 | 1130000.0 | 1085911 |
|  |  |  |  | 2526639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Virgin Islands - 0.0%**<sup>(h)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virgin Islands Public Finance Authority, NATL, Call 06/22/25<sup>(d)</sup> | 4.25% | 10/01/29 | 10000.0 | 10052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Virginia - 0.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virginia Small Business Financing Authority, Call 06/22/25<sup>(c)</sup> | 5.25% | 10/01/29 | 1000000.0 | 1001664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Washington - 1.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Call 06/12/25 | 5.0% | 07/01/29 | 30000.0 | 30008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Call 06/12/25<sup>(c)</sup> | 5.0% | 07/01/38 | 500000.0 | 499990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 10/01/44 | 410000.0 | 410050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 10/01/42 | 125000.0 | 125226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 10/01/41 | 530000.0 | 530139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Health Care Facilities Authority, Call 06/22/25<sup>(c)</sup> | 5.0% | 10/01/38 | 525000.0 | 525169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington State Housing Finance Commission, Call 01/01/30<sup>(c)(d)</sup> | 5.88% | 01/01/59 | 250000.0 | 240691 |
|  |  |  |  | 2361273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**West Virginia - 0.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Huntington, TAR, Call 06/01/32<sup>(c)(d)</sup> | 5.63% | 05/01/50 | 475000.0 | 449148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Huntington, TAR, Call 06/01/32<sup>(c)(d)</sup> | 5.5% | 06/01/49 | 300000.0 | 283960 |
|  |  |  |  | 733108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Wisconsin - 3.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 06/15/26<sup>(c)(g)</sup> | 4.75% | 06/15/56 | 1000000.0 | 759196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 09/01/28<sup>(c)(d)(g)</sup> | 6.25% | 09/01/46 | 250000.0 | 255207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 09/01/28<sup>(c)(d)(g)</sup> | 5.75% | 09/01/35 | 250000.0 | 257269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 06/15/32<sup>(c)(d)</sup> | 5.25% | 06/15/65 | 1000000.0 | 947723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 12/01/34<sup>(c)(d)</sup> | 5.25% | 12/01/54 | 1000000.0 | 939645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 04/01/35<sup>(c)(g)</sup> | 6.45% | 04/01/60 | 1000000.0 | 955077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 12/15/26<sup>(g)</sup> | 5.5% | 12/15/32 | 214832.0 | 206167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 12/01/27<sup>(c)(g)</sup> | 5.0% | 12/01/45 | 250000.0 | 229042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 06/15/29<sup>(c)(d)</sup> | 6.0% | 06/15/64 | 1000000.0 | 956894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Finance Authority, Call 06/15/29<sup>(c)</sup> | 5.0% | 06/15/39 | 485000.0 | 485545 |
|  |  |  |  | 5991765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL MUNICIPAL BONDS & NOTES (Cost $157,681,958)** |  |  |  | 154230636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 98.1% (Cost $157,681,958)** |  |  |  | $154230636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 1.9% |  |  |  | 2989067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  |  |  | $157219703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |  |  |

---

AGC Assured Guaranty Corp. <br> AGM Assured Guaranty Municipal <br> AGM-CR Assured Guaranty Municipal-Custodial Receipts

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BAM | Build America Mutual Assurance Co. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FHLMC | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FNMA | Federal National Mortgage Association |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNMA | Government National Mortgage Association |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GO | General Obligation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NATL | National Public Financial Guarantee Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PSF-GTD | Permanent School Fund-Guaranteed |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SA | Special Assessment |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STR | Special Tax Revenue |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TAR | Tax Allocation Receipt |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Adjustable
rate security. Rate disclosed is as of April 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Sinkable
security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Fixed
coupon bond issued at a discount.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Zero
coupon bond issued at a discount.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Adjustable
rate security issued at a discount. Rate disclosed is as of April 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Interest
appreciation bond issued at a discount.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Security
exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions
exempt from registration to qualified institutional investors.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Does
not round to 0.1%.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Adjustable
rate security. Tender option bond reflecting the coupon on the underlying security held in trust.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Tidal Trust III

- **b. Investment Company Act file number:** 811-23312

- **c. CIK number of Registrant:** 0001722388

- **d. LEI of Registrant:** 254900O7GV43AAUCM784

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

  - **Street Address 1:** 234 West Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 8449867676

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

- **a. Name of Series:** Rockefeller Opportunistic Municipal Bond ETF

- **b. EDGAR series identifier (if any):** S000086370

- **c. LEI of Series:** 254900YX2DQC4Q5NS210

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $160894883.84

**Total Liabilities:** $3657209.78

**Net Assets:** $157237674.06

**Delayed Delivery Securities:** $1929540.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** -113.24 | **5-Year:** -6459.76 | **10-Year:** -69550.03 | **30-Year:** -21076.14

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** -406.52 | **30-Year:** -5941.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251864 | 1.31%                | -1.78%               | -1.77%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10466.52                | $1242494.94                                |
| Month 2  | $-298056.99              | $-2807108.77                               |
| Month 3  | $-403677.90              | $-1893801.66                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alachua County Health Facilities Authority         | Alachua County Health Facilities Authority                                   | CUSIP: 010685KF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $701035.68    | 0.45%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority           | Arizona Industrial Development Authority                                     | CUSIP: 04052BBV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $105911.64    | 0.07%             | 2047-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Arizona Industrial Development Authority           | Arizona Industrial Development Authority                                     | CUSIP: 04052BBW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $100944.09    | 0.06%             | 2052-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Arkansas Development Finance Authority             | Arkansas Development Finance Authority                                       | CUSIP: 041083YA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042142.50   | 0.66%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp            | Arlington Higher Education Finance Corp                                      | CUSIP: 041807KZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $782929.22    | 0.50%             | 2059-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Atlanta Development Authority/The                  | Atlanta Development Authority/The                                            | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003880.30   | 0.64%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Avimor Community Infrastructure District No 1      | Avimor Community Infrastructure District No 1                                | CUSIP: 05372AAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $966425.70    | 0.61%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Babcock Ranch Community Independent Special Distri | Babcock Ranch Community Independent Special Distri                           | CUSIP: 05616KBV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968151.00    | 0.62%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Baseline Metropolitan District No 1                | Baseline Metropolitan District No 1                                          | CUSIP: 069826AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992754.30    | 0.63%             | 2054-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                      | Buckeye Tobacco Settlement Financing Authority                               | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $2796592.00   | 1.78%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority     | Buckeye Tobacco Settlement Financing Authority                               | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $1435171.50   | 0.91%             | 2057-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                            | Build NYC Resource Corp                                                      | CUSIP: 12008EBJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $844832.43    | 0.54%             | 2038-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CA TOBACCO SEC                     | California County Tobacco Securitization Agency                              | CUSIP: 13016NBY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $312537.69    | 0.20%             | 2042-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency    | California County Tobacco Securitization Agency                              | CUSIP: 13016NCX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $978058.88    | 0.62%             | 2046-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority                             | CUSIP: 13032UB64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60057.85     | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development B | California Infrastructure & Economic Development B                           | CUSIP: 13035CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1110573.36   | 0.71%             | 2054-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development B | California Infrastructure & Economic Development B                           | CUSIP: 13035CAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $461405.35    | 0.29%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH STUDEN                     | California Municipal Finance Authority                                       | CUSIP: 13051EAJ9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    450000 | PA      | $427066.88    | 0.27%             | 2055-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                     | California Public Finance Authority                                          | CUSIP: 13057GAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3197392.10   | 2.03%             | 2059-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                     | California Public Finance Authority                                          | CUSIP: 13057GAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2465000 | PA      | $2335752.16   | 1.49%             | 2065-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &                     | California Infrastructure & Economic Development Bank                        | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1144468.38   | 0.73%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD FING AUTH T                     | California Statewide Financing Authority                                     | CUSIP: 130923AR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200493.54    | 0.13%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho                           | CUSIP: 13077ERJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98826.35     | 0.06%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Canyons Metropolitan District No 5                 | Canyons Metropolitan District No 5                                           | CUSIP: 139071AZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $741577.20    | 0.47%             | 2054-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL              | Capital Projects Finance Authority/FL                                        | CUSIP: 14043FAM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $459252.35    | 0.29%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FL FIN AUTH SENI                     | Capital Projects Finance Authority/FL                                        | CUSIP: 14043HAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1970563.60   | 1.25%             | 2065-01-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                      | Capital Trust Authority                                                      | CUSIP: 14054WBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $465783.60    | 0.30%             | 2059-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                            | Capital Trust Authority                                                      | CUSIP: 14054WBG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1365192.45   | 0.87%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                            | Capital Trust Authority                                                      | CUSIP: 14054WBH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $898513.30    | 0.57%             | 2059-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                            | Capital Trust Authority                                                      | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $225346.25    | 0.14%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                            | Capital Trust Authority                                                      | CUSIP: 14055AAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $983932.60    | 0.63%             | 2044-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority          | Chandler Industrial Development Authority                                    | CUSIP: 158862CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $142257.08    | 0.09%             | 2042-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester Water Authority                            | Chester Water Authority                                                      | CUSIP: 166178QJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200215.28    | 0.13%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport               | Chicago O'Hare International Airport                                         | CUSIP: 167593L59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1993229.20   | 1.27%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                              | Children's Trust Fund                                                        | CUSIP: 16876QBF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5026.19      | 0.00%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                              | Children's Trust Fund                                                        | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $486948.00    | 0.31%             | 2057-05-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Airport System Revenue           | City of Austin TX Airport System Revenue                                     | CUSIP: 052398ER1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99991.42     | 0.06%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Brooklyn Park MN                           | City of Brooklyn Park MN                                                     | CUSIP: 114224AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $475301.20    | 0.30%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Celina TX                                  | City of Celina TX                                                            | CUSIP: 15114CJU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1391032.95   | 0.88%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Fort Wayne IN                              | City of Fort Wayne IN                                                        | CUSIP: 34926RAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $603132.74    | 0.38%             | 2038-01-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| City of Friendswood TX                             | City of Friendswood TX                                                       | CUSIP: 358591AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1442046.90   | 0.92%             | 2054-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| City of Huntington WV                              | City of Huntington WV                                                        | CUSIP: 446839AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $283960.02    | 0.18%             | 2049-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Huntington WV                              | City of Huntington WV                                                        | CUSIP: 446839AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $449147.60    | 0.29%             | 2050-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis MN                             | City of Minneapolis MN                                                       | CUSIP: 60375CBL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $68194.01     | 0.04%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Mishawaka IN                               | City of Mishawaka IN                                                         | CUSIP: 604786AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $803503.71    | 0.51%             | 2038-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                | City of New York NY                                                          | CUSIP: 64966SHL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $440916.90    | 0.28%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Venice FL                                  | City of Venice FL                                                            | CUSIP: 922687AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $725298.15    | 0.46%             | 2060-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OH POR                     | Cleveland-Cuyahoga County Port Authority                                     | CUSIP: 186103JD0<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |     15000 | PA      | $14818.67     | 0.01%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cuyahoga County Port Authority           | Cleveland-Cuyahoga County Port Authority                                     | CUSIP: 18610RCG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $474013.45    | 0.30%             | 2049-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp              | Clifton Higher Education Finance Corp                                        | CUSIP: 187145BR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $105550.94    | 0.07%             | 2047-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CLINTON CNTY NY CAPITAL RESOUR                     | Clinton County Capital Resource Corp                                         | CUSIP: 187469AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $294895.53    | 0.19%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CO HIGH PERFORMANCE TRANSPRTN                      | Colorado High Performance Transportation Enterprise                          | CUSIP: 19648DAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $891215.40    | 0.57%             | 2056-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority               | Colorado Health Facilities Authority                                         | CUSIP: 19648A5G6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $134991.94    | 0.09%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority              | Connecticut Housing Finance Authority                                        | CUSIP: 20775CMV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $129386.24    | 0.08%             | 2039-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| County of Cook IL                                  | County of Cook IL                                                            | CUSIP: 213226AE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1494820.95   | 0.95%             | 2045-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| County of Harris TX                                | County of Harris TX                                                          | CUSIP: 4140054E5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $453432.95    | 0.29%             | 2049-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Medina TX                                | County of Medina TX                                                          | CUSIP: 584735AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $904302.90    | 0.58%             | 2054-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Transit System             | County of Miami-Dade FL Transit System                                       | CUSIP: 59334PHR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908004.60    | 0.58%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department            | County of Miami-Dade Seaport Department                                      | CUSIP: 59335KDE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $725286.23    | 0.46%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL Airport System Revenue     | County of Palm Beach FL Airport System Revenue                               | CUSIP: 696499FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520248.75    | 0.33%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Palm Beach FL Airport System Revenue     | County of Palm Beach FL Airport System Revenue                               | CUSIP: 696499FU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516893.45    | 0.33%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Crawford County Hospital Authority                 | Crawford County Hospital Authority                                           | CUSIP: 225004AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $427234.27    | 0.27%             | 2046-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Crawford County Hospital Authority                 | Crawford County Hospital Authority                                           | CUSIP: 225004AR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500402.80    | 0.32%             | 2051-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CREEKWALK MARKETPLACE BUSINESS                     | Creekwalk Marketplace Business Improvement District                          | CUSIP: 225515AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $808862.16    | 0.51%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Crowfoot Valley Ranch Metropolitan District No 2   | Crowfoot Valley Ranch Metropolitan District No 2                             | CUSIP: 22802CAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985083.00    | 0.63%             | 2054-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority      | Delaware State Economic Development Authority                                | CUSIP: 246371AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $19336.72     | 0.01%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority      | Delaware State Economic Development Authority                                | CUSIP: 246387QD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $289500.97    | 0.18%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware State Economic Development Authority      | Delaware State Economic Development Authority                                | CUSIP: 246387RK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50032.68     | 0.03%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority for Fulton County            | Development Authority for Fulton County                                      | CUSIP: 3599006J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993177.20    | 0.63%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dobbs Ferry Local Development Corp                 | Dobbs Ferry Local Development Corp                                           | CUSIP: 256048AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $342267.94    | 0.22%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dobbs Ferry Local Development Corp                 | Dobbs Ferry Local Development Corp                                           | CUSIP: 256048AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $52968.58     | 0.03%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAGAN MN CHRTR SCH LEASE REVEN                     | City of Eagan MN                                                             | CUSIP: 26940AAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $239743.40    | 0.15%             | 2045-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EAGAN MN CHRTR SCH LEASE REVEN                     | City of Eagan MN                                                             | CUSIP: 26940AAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $333868.22    | 0.21%             | 2055-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EAGAN MN CHRTR SCH LEASE REVEN                     | City of Eagan MN                                                             | CUSIP: 26940AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $598682.13    | 0.38%             | 2065-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Edgewater West Community Development District      | Edgewater West Community Development District                                | CUSIP: 28035BAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $938583.40    | 0.60%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Edinburg Local Government Finance Corp             | Edinburg Local Government Finance Corp                                       | CUSIP: 280797AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40039.05     | 0.03%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EVANSVILLE IN MF HSG REVENUE                       | City of Evansville IN                                                        | CUSIP: 299351AG1<br>LEI: 5493004FNKVUBIYGJO12 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $967212.27    | 0.62%             | 2038-01-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financial Au | Florida Higher Educational Facilities Financial Au                           | CUSIP: 34073TPM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260362.58    | 0.17%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Florida Higher Educational Facilities Financial Au | Florida Higher Educational Facilities Financial Au                           | CUSIP: 34073TPN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $217043.78    | 0.14%             | 2054-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Florida Housing Finance Corp                       | Florida Housing Finance Corp                                                 | CUSIP: 34074M7F2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489264.50    | 0.31%             | 2054-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST HSG FIN CORP REVENU                     | Florida Housing Finance Corp                                                 | CUSIP: 34074M7G0<br>LEI: 549300W0PCIJCI0JCF10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088713.80   | 0.69%             | 2055-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fort Bend County Municipal Management District No  | Fort Bend County Municipal Management District No                            | CUSIP: 34677MCQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $9988.34      | 0.01%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                 | Greater Orlando Aviation Authority                                           | CUSIP: 3922742H8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $879493.30    | 0.56%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the S | Health & Educational Facilities Authority of the S                           | CUSIP: 60637AEA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $67778.57     | 0.04%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the S | Health & Educational Facilities Authority of the S                           | CUSIP: 60637AEC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20001.35     | 0.01%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the S | Health & Educational Facilities Authority of the S                           | CUSIP: 60637AMU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 0.89%             | 2036-06-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp              | Hempstead Town Local Development Corp                                        | CUSIP: 424682GE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2202572.68   | 1.40%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Highlands County School Board                      | Highlands County School Board                                                | CUSIP: 43102CAM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50064.44     | 0.03%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                         | Illinois Finance Authority                                                   | CUSIP: 452029AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100019.22    | 0.06%             | 2034-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                         | Illinois Finance Authority                                                   | CUSIP: 452029AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $145007.29    | 0.09%             | 2045-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                         | Illinois Finance Authority                                                   | CUSIP: 45203HRN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10005.85     | 0.01%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority              | Illinois State Toll Highway Authority                                        | CUSIP: 452252JN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120138.58    | 0.08%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the County of  | Industrial Development Authority of the County of                            | CUSIP: 72177PBV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $934171.40    | 0.59%             | 2047-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                             | Iowa Finance Authority                                                       | CUSIP: 46246K3P5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $86701.90     | 0.06%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                             | Iowa Finance Authority                                                       | CUSIP: 46246SAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $114499.31    | 0.07%             | 2042-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                             | Iowa Finance Authority                                                       | CUSIP: 46247SFF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $722635.94    | 0.46%             | 2053-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MF REVENUE                        | Iowa Finance Authority                                                       | CUSIP: 46246JNN1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    500000 | PA      | $478966.30    | 0.30%             | 2042-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST HGR EDU LOAN AUTH REVE                     | Iowa Higher Education Loan Authority                                         | CUSIP: 46247DBK2<br>LEI: 549300DWVTM3KRNR0M36 | Long             | DBT              | MUN               | US        |    550000 | PA      | $563352.02    | 0.36%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board                        | Kenton County Airport Board                                                  | CUSIP: 491026WK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507723.10    | 0.32%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| La Paz County Industrial Development Authority     | La Paz County Industrial Development Authority                               | CUSIP: 50376FAS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $46071.69     | 0.03%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA             | Lancaster County Hospital Authority/PA                                       | CUSIP: 514045J20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $23501.96     | 0.01%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lompoc Unified School District                     | Lompoc Unified School District                                               | CUSIP: 541772LW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1113410.72   | 0.71%             | 2054-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maricopa County & Phoenix Industrial Development A | Maricopa County & Phoenix Industrial Development A                           | CUSIP: 566736HU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330384.48    | 0.21%             | 2055-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Maryland Department of Housing & Community Develop | Maryland Department of Housing & Community Develop                           | CUSIP: 57419UKD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $416619.00    | 0.26%             | 2049-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Au | Maryland Health & Higher Educational Facilities Au                           | CUSIP: 574218NS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99997.60     | 0.06%             | 2041-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency           | Massachusetts Development Finance Agency                                     | CUSIP: 57585BBU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $954278.50    | 0.61%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                     | Massachusetts Development Finance Agency                                     | CUSIP: 57585BCX4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $466797.60    | 0.30%             | 2060-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL EXPRESSWAY                      | Miami-Dade County Expressway Authority                                       | CUSIP: 59334KFW3<br>LEI: 549300NSQPQSO55VM780 | Long             | DBT              | MUN               | US        |    480000 | PA      | $480749.09    | 0.31%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Miami-Dade County Industrial Development Authority | Miami-Dade County Industrial Development Authority                           | CUSIP: 59334GAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1109816.96   | 0.71%             | 2061-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                            | Michigan Strategic Fund                                                      | CUSIP: 594698LE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004284.20   | 1.27%             | 2043-11-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Michigan Tobacco Settlement Finance Authority      | Michigan Tobacco Settlement Finance Authority                                | CUSIP: 594751AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  28500000 | PA      | $860098.65    | 0.55%             | 2058-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MIDA MOUNTAIN VLG PUBLIC INFRA                     | Mida Mountain Village Public Infrastructure District                         | CUSIP: 59561UAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500927.30    | 0.32%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mineral Business Improvement District              | Mineral Business Improvement District                                        | CUSIP: 60284AAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963792.30    | 0.61%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                   | Minnesota Housing Finance Agency                                             | CUSIP: 60416UKX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $465396.48    | 0.30%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Missouri Development Finance Board                 | Missouri Development Finance Board                                           | CUSIP: 60636SEK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20019.15     | 0.01%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC                     | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60637AGN6<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    245000 | PA      | $241601.09    | 0.15%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HSG DEV COMMISSION                     | Missouri Housing Development Commission                                      | CUSIP: 60637GJJ9<br>LEI: 5493007FBL7WCV3NKY25 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2531702.25   | 1.61%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY       | Monroe County Industrial Development Corp/NY                                 | CUSIP: 61075TXW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $860863.80    | 0.55%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroeville Finance Authority                      | Monroeville Finance Authority                                                | CUSIP: 611530CU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $74999.12     | 0.05%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MTA HUDSON RAIL YARDS TRUST OB                     | MTA Hudson Rail Yards Trust Obligations                                      | CUSIP: 62476RAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $94994.32     | 0.06%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MTA HUDSON RAIL YARDS TRUST OB                     | MTA Hudson Rail Yards Trust Obligations                                      | CUSIP: 62476RAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $492095.79    | 0.31%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nevada Housing Division                            | Nevada Housing Division                                                      | CUSIP: 641279ZL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $490828.70    | 0.31%             | 2054-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority           | New Hampshire Business Finance Authority                                     | CUSIP: 63608TAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975278.20    | 0.62%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority           | New Hampshire Business Finance Authority                                     | CUSIP: 644684HE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503533.55    | 0.32%             | 2045-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority           | New Hampshire Business Finance Authority                                     | CUSIP: 644684HG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $628627.13    | 0.40%             | 2055-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Health and Education Facilities Auth | New Hampshire Health and Education Facilities Auth                           | CUSIP: 6446142A6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $118836.17    | 0.08%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                      | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UHF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1745848.74   | 1.11%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                      | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UHG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $843079.95    | 0.54%             | 2060-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Cor | New Hope Cultural Education Facilities Finance Cor                           | CUSIP: 64542RAY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $129749.00    | 0.08%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                         | New Orleans Aviation Board                                                   | CUSIP: 64763HMS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512353.65    | 0.33%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                         | New Orleans Aviation Board                                                   | CUSIP: 64763HNM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $761580.90    | 0.48%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                         | New Orleans Aviation Board                                                   | CUSIP: 64763HNN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $760041.30    | 0.48%             | 2051-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp             | New York City Housing Development Corp                                       | CUSIP: 64972KKD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203195.20    | 0.13%             | 2045-11-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp             | New York City Housing Development Corp                                       | CUSIP: 64972KKF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $711091.71    | 0.45%             | 2055-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                 | New York Counties Tobacco Trust VI                                           | CUSIP: 64945JAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $146224.86    | 0.09%             | 2045-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp                                     | CUSIP: 650116AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $345027.53    | 0.22%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp                                     | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1043391.36   | 0.66%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp                                     | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $728921.40    | 0.46%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp                                     | CUSIP: 650116HS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1056487.41   | 0.67%             | 2060-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp                                     | CUSIP: 650116HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $670611.68    | 0.43%             | 2054-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp                                     | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031732.60   | 1.29%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                 | New York State Dormitory Authority                                           | CUSIP: 64990FPV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $230199.83    | 0.15%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                 | New York State Dormitory Authority                                           | CUSIP: 65000B7Y8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $263958.23    | 0.17%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp                                     | CUSIP: 650116BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $119996.54    | 0.08%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp                                     | CUSIP: 650116CP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75254.66     | 0.05%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp                                     | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $856442.35    | 0.54%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp                                     | CUSIP: 650116HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $184212.15    | 0.12%             | 2054-12-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Newark Higher Education Finance Corp               | Newark Higher Education Finance Corp                                         | CUSIP: 650346GM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $620174.27    | 0.39%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Normandy Community Development District            | Normandy Community Development District                                      | CUSIP: 65618HAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $93371.53     | 0.06%             | 2054-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission             | North Carolina Medical Care Commission                                       | CUSIP: 65820YTP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1572397.36   | 1.00%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                        | Ohio Housing Finance Agency                                                  | CUSIP: 676900UC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $535864.66    | 0.34%             | 2032-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| OHIO ST HSG FIN AGY MF HSG REV                     | Ohio Housing Finance Agency                                                  | CUSIP: 676900XJ7<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958693.50    | 0.61%             | 2045-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REVEN                     | State of Ohio                                                                | CUSIP: 67759YAN7<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1575699.46   | 1.00%             | 2035-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH                      | Orange County Health Facilities Authority                                    | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $358764.32    | 0.23%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REVENUE                        | Oregon State Facilities Authority                                            | CUSIP: 68608JSL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600013.68    | 0.38%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                  | Oregon State Facilities Authority                                            | CUSIP: 68608JRZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20090.37     | 0.01%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                  | Oregon State Facilities Authority                                            | CUSIP: 68608JSA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110497.28    | 0.07%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palisade Metropolitan District No 2                | Palisade Metropolitan District No 2                                          | CUSIP: 696392AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908916.50    | 0.58%             | 2054-12-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority      | Palm Beach County Health Facilities Authority                                | CUSIP: 696507UM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $236345.26    | 0.15%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority      | Palm Beach County Health Facilities Authority                                | CUSIP: 696507VS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $150085.93    | 0.10%             | 2053-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Palm Beach County Health Facilities Authority      | Palm Beach County Health Facilities Authority                                | CUSIP: 696507VT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $206251.04    | 0.13%             | 2058-05-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Parrish Lakes II Community Development District    | Parrish Lakes II Community Development District                              | CUSIP: 70183HAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939576.80    | 0.60%             | 2054-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Author | Pennsylvania Economic Development Financing Author                           | CUSIP: 708692CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1486997.70   | 0.95%             | 2051-01-01      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| PINERY CO COML MET DIST #2 SPL                     | Pinery Commercial Metropolitan District No 2                                 | CUSIP: 72330FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $953190.30    | 0.61%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pioneer Ranch Community Development District       | Pioneer Ranch Community Development District                                 | CUSIP: 723846AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $925678.90    | 0.59%             | 2055-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE                     | Port Authority of New York & New Jersey                                      | CUSIP: 73358XHF2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1298486.93   | 0.83%             | 2052-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                     | Public Finance Authority                                                     | CUSIP: 744396HF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $759195.60    | 0.48%             | 2056-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                     | Public Finance Authority                                                     | CUSIP: 74442EML1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955076.90    | 0.61%             | 2060-04-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                     | Public Finance Authority                                                     | CUSIP: 74442EMS6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $947722.80    | 0.60%             | 2065-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                         | Public Finance Authority                                                     | CUSIP: 74442PN92<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939644.70    | 0.60%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                           | Public Finance Authority                                                     | CUSIP: 74442PD93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    214832 | PA      | $206166.92    | 0.13%             | 2032-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                           | Public Finance Authority                                                     | CUSIP: 74443DGA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $229042.40    | 0.15%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                           | Public Finance Authority                                                     | CUSIP: 74443DLE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956893.60    | 0.61%             | 2064-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                           | Public Finance Authority                                                     | CUSIP: 74445GAP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $485545.53    | 0.31%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                           | Public Finance Authority                                                     | CUSIP: 74446DAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257268.93    | 0.16%             | 2035-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                           | Public Finance Authority                                                     | CUSIP: 74446DAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255207.15    | 0.16%             | 2046-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pulaski County Public Facilities Board             | Pulaski County Public Facilities Board                                       | CUSIP: 74540HAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5002.20      | 0.00%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pulaski County Public Facilities Board             | Pulaski County Public Facilities Board                                       | CUSIP: 74540HAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $209982.63    | 0.13%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RED BARN MET DIST CO                               | Red Barn Metropolitan District                                               | CUSIP: 75633SAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $733050.80    | 0.47%             | 2055-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Reno-Tahoe Airport Authority                       | Reno-Tahoe Airport Authority                                                 | CUSIP: 759874CL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252939.48    | 0.16%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp       | Rhode Island Housing & Mortgage Finance Corp                                 | CUSIP: 76221SET4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492375.65    | 0.31%             | 2054-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp       | Rhode Island Housing & Mortgage Finance Corp                                 | CUSIP: 76221SEU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496024.60    | 0.32%             | 2059-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Roma Independent School District                   | Roma Independent School District                                             | CUSIP: 775830SL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517859.10    | 0.33%             | 2049-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY                     | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DXQ7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046411.10   | 0.67%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Redevelopment Agency S | San Francisco City & County Redevelopment Agency S                           | CUSIP: 79770GAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60003.38     | 0.04%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shelby County Health Educational & Housing Facilit | Shelby County Health Educational & Housing Facilit                           | CUSIP: 82169JAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $81462.80     | 0.05%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shelby County Health Educational & Housing Facilit | Shelby County Health Educational & Housing Facilit                           | CUSIP: 82169JAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1003939.88   | 0.64%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                      | Sierra Vista Industrial Development Authority                                | CUSIP: 82652UBA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1533499.52   | 0.98%             | 2064-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Silicon Valley Tobacco Securitization Authority    | Silicon Valley Tobacco Securitization Authority                              | CUSIP: 82706TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2162874.40   | 1.38%             | 2036-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Sky Dance Metropolitan District No 2               | Sky Dance Metropolitan District No 2                                         | CUSIP: 83086VAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $696980.25    | 0.44%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sky Ranch Community Authority Board                | Sky Ranch Community Authority Board                                          | CUSIP: 83086FAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $544527.39    | 0.35%             | 2054-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SkyRidge Pegasus Infrastructure Financing District | SkyRidge Pegasus Infrastructure Financing District                           | CUSIP: 83089AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $939800.50    | 0.60%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83704HAM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509283.35    | 0.32%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HSG DEV AUTH                       | South Dakota Housing Development Authority                                   | CUSIP: 83756LBH7<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1106030.40   | 0.70%             | 2055-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOPERAT                     | Southeast Energy Authority A Cooperative District                            | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111196.80   | 1.34%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| St Lawrence County Industrial Development Agency   | St Lawrence County Industrial Development Agency                             | CUSIP: 791078AZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20001.74     | 0.01%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Vrain Lakes Metropolitan District No 2          | St Vrain Lakes Metropolitan District No 2                                    | CUSIP: 85236GBA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500717.10    | 0.32%             | 2054-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| St Vrain Lakes Metropolitan District No 4          | St Vrain Lakes Metropolitan District No 4                                    | CUSIP: 85237KAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $665396.00    | 0.42%             | 2054-09-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                               | Stamford Housing Authority                                                   | CUSIP: 852640AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005714.70   | 0.64%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                               | Stamford Housing Authority                                                   | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $732495.53    | 0.47%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SUNNYVALE TX SCH DIST                              | Sunnyvale Independent School District                                        | CUSIP: 867646LH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516775.25    | 0.33%             | 2050-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finan | Tarrant County Cultural Education Facilities Finan                           | CUSIP: 87638RHK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $42691.25     | 0.03%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MB79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2385144.80   | 1.52%             | 2055-05-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2622993.60   | 1.67%             | 2054-01-01      | Variable      | 9.96%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MUF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2280176.80   | 1.45%             | 2050-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Merrillville IN                            | Town of Merrillville IN                                                      | CUSIP: 590250AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $880535.97    | 0.56%             | 2036-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Trevenna Metropolitan District                     | Trevenna Metropolitan District                                               | CUSIP: 89533MAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $466465.62    | 0.30%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority               | Triborough Bridge & Tunnel Authority                                         | CUSIP: 896032BB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $840421.20    | 0.53%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IN MF HSG REVENUE                       | City of Valparaiso IN                                                        | CUSIP: 920286AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $658785.00    | 0.42%             | 2041-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Van Alstyne Independent School District            | Van Alstyne Independent School District                                      | CUSIP: 920496XA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $444545.95    | 0.28%             | 2054-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Public Finance Authority            | Virgin Islands Public Finance Authority                                      | CUSIP: 927676NA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10051.88     | 0.01%             | 2029-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                     | Virginia Small Business Financing Authority                                  | CUSIP: 928104LZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001663.60   | 0.64%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Viridian Farm Public Infrastructure District No 1  | Viridian Farm Public Infrastructure District No 1                            | CUSIP: 92841PAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1085910.68   | 0.69%             | 2054-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority        | Washington Health Care Facilities Authority                                  | CUSIP: 93978HKC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30007.64     | 0.02%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority        | Washington Health Care Facilities Authority                                  | CUSIP: 93978HKJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499990.20    | 0.32%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority        | Washington Health Care Facilities Authority                                  | CUSIP: 93978HKN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $525169.00    | 0.33%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority        | Washington Health Care Facilities Authority                                  | CUSIP: 93978HYK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $410050.39    | 0.26%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Health Care Facilities Authority        | Washington Health Care Facilities Authority                                  | CUSIP: 93978HYL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $530139.18    | 0.34%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                     | Washington Health Care Facilities Authority                                  | CUSIP: 93978HFW0<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125225.68    | 0.08%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission        | Washington State Housing Finance Commission                                  | CUSIP: 939783U61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $240690.65    | 0.15%             | 2059-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Washington Township Health Care District           | Washington Township Health Care District                                     | CUSIP: 940642CE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $104104.92    | 0.07%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Water Valley Metropolitan District No 3            | Water Valley Metropolitan District No 3                                      | CUSIP: 94114TAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $496937.00    | 0.32%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Shore Area Authority                          | West Shore Area Authority                                                    | CUSIP: 95581QAJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $13943.05     | 0.01%             | 2035-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Worthington City School District                   | Worthington City School District                                             | CUSIP: 982038TL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10605043.00  | 6.74%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer