# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0000894189-25-011518
**Filing Date:** 2025-10
**Character Count:** 92123
**Document Hash:** 368b606bcd173398216ddab2e2c98a79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-011518.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0000894189-25-011518

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251021

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10401
- **FILM NUMBER:** 251405688

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Performance Trust Municipal Bond Fund (Series ID: S000033197)

| Class ID   | Class Name                                                  | Ticker Symbol   |
|:---|:---|:---|
| C000102162 | Performance Trust Municipal Bond Fund - Institutional Class | PTIMX           |
| C000102163 | Performance Trust Municipal Bond Fund - Class A             | PTRMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Trust for Professional Managers

- **b. Investment Company Act file number:** 811-10401

- **c. CIK number of Registrant:** 0001141819

- **d. LEI of Registrant:** 549300O1N816L3GGRD45

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 513-520-5925

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

- **a. Name of Series:** Performance Trust Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000033197

- **c. LEI of Series:** 254900GLOAFEA5EN5O30

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $645614807.27

**Total Liabilities:** $6168935.16

**Net Assets:** $639445872.11

**Delayed Delivery Securities:** $5874317.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 149.420000000000 | **1-Year:** 931.900000000000 | **5-Year:** 137655.850000000000 | **10-Year:** 390031.740000000000 | **30-Year:** 79051.740000000000

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

- **3-Month:** 3120.340000000000 | **1-Year:** 5373.470000000000 | **5-Year:** 1913.350000000000 | **10-Year:** 12959.800000000000 | **30-Year:** 1570.700000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000102162 | 0.79%                | -0.68%               | 0.86%                |
| Class ID C000102163 | 0.76%                | -0.70%               | 0.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2465832.78             | $5434820.74                                |
| Month 2  | $-138863.04              | $-6850076.36                               |
| Month 3  | $-369810.23              | $3877714.17                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADAMS & ARAPAHOE CNTYS CO JT S | Adams & Arapahoe Counties Joint School District 28J Aurora              | CUSIP: 0054824S0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3305000 | PA      | $3622084.01   | 0.57%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX INDEP SCH DIST       | Austin Independent School District                                      | CUSIP: 052430XW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4495036.73   | 0.70%             | 2044-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE | California Municipal Finance Authority                                  | CUSIP: 13048VVC9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    965000 | PA      | $953806.00    | 0.15%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COACHELLA VLY CA UNIF SCH DIST | Coachella Valley Unified School District/CA                             | CUSIP: 189849GR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $434473.08    | 0.07%             | 2043-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GREATER CLARK IN BLDG CORP     | Greater Clark Building Corp                                             | CUSIP: 39167GJT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5660000 | PA      | $6160092.13   | 0.96%             | 2042-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPERTY & BLDGS C | Kentucky State Property & Building Commission                           | CUSIP: 49151FY87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2640000 | PA      | $2832507.48   | 0.44%             | 2042-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MANHATTAN BEACH CA UNIF SCH DI | Manhattan Beach Unified School District                                 | CUSIP: 562785HX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2085000 | PA      | $1098270.83   | 0.17%             | 2040-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST               | Commonwealth of Massachusetts                                           | CUSIP: 57582TBT8<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10437258.00  | 1.63%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI FL                       | City of Miami FL                                                        | CUSIP: 59338CAM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8468331.20   | 1.32%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN | New Hampshire Business Finance Authority                                | CUSIP: 63608TAR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1616062.08   | 0.25%             | 2030-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 6461362S9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $2644560.00   | 0.41%             | 2039-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL  | New York City Transitional Finance Authority                            | CUSIP: 64972JAV0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3794855.35   | 0.59%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE IN HIGH SCH BLDG C | Noblesville High School Building Corp                                   | CUSIP: 655158HK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $469746.72    | 0.07%             | 2038-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE IN HIGH SCH BLDG C | Noblesville High School Building Corp                                   | CUSIP: 655158HM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1340678.63   | 0.21%             | 2043-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST TURNPIKE AUTH      | Oklahoma Turnpike Authority                                             | CUSIP: 679111F74<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1610740.20   | 0.25%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST TURNPIKE AUTH      | Oklahoma Turnpike Authority                                             | CUSIP: 679111F82<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1593255.30   | 0.25%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                | CUSIP: 74442PF42<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1432916.00   | 0.22%             | 2034-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                | CUSIP: 74442PL78<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1496626.80   | 0.23%             | 2037-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                | CUSIP: 74442PL86<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2998651 | PA      | $2962712.92   | 0.46%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA CMNTY CLG DIST    | San Diego Community College District                                    | CUSIP: 797272KC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1860000 | PA      | $916983.91    | 0.14%             | 2041-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WATAUGA NC PUBLIC FACS CORP    | Watauga Public Facilities Corp                                          | CUSIP: 94109SBS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1328627.92   | 0.21%             | 2042-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WILDFLOWER IMPROV ASSN         | Wildflower Improvement Association                                      | CUSIP: 96812GAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1102928 | PA      | $1088842.73   | 0.17%             | 2031-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FRETE 2019-ML06 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 30312CAD5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  10302168 | PA      | $719503.43    | 0.11%             | 2037-06-25      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| FRETE 2021-ML08 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 30318LAK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  33767785 | PA      | $3991352.18   | 0.62%             | 2037-07-25      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| FORT MYERS FL UTILITY REVENUE  | City of Fort Myers FL Utility System Revenue                            | CUSIP: 348172VW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5279199.50   | 0.83%             | 2049-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TX INDEP SCH DIST   | Fort Worth Independent School District                                  | CUSIP: 349461FC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1084983.80   | 0.17%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER CLARK IN BLDG CORP     | Greater Clark Building Corp                                             | CUSIP: 39167GJR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6190000 | PA      | $6959958.01   | 1.09%             | 2038-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JOLIET IL                      | City of Joliet IL                                                       | CUSIP: 479754NQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5080000 | PA      | $5325997.48   | 0.83%             | 2042-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEPT OF TRANSPRTN HI | State of Kansas Department of Transportation                            | CUSIP: 485424UD5<br>LEI: 5493001635XK841MIO47 | Long             | DBT              | MUN               | US        |   7325000 | PA      | $7672586.63   | 1.20%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPERTY & BLDGS C | Kentucky State Property & Building Commission                           | CUSIP: 49151FY79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2710000 | PA      | $2920647.22   | 0.46%             | 2041-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T | Lower Colorado River Authority                                          | CUSIP: 54811BB83<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3124622.40   | 0.49%             | 2048-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                               | CUSIP: 645918Z71<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300653.07    | 0.05%             | 2027-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 646136WU1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   7735000 | PA      | $4034387.27   | 0.63%             | 2039-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ACTON-AGUA CA UNIF SCH DIST    | Acton-Agua Dulce Unified School District                                | CUSIP: 00507TBG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1078482.00   | 0.17%             | 2039-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST RAILROAD CORP CRUISE | Alaska Railroad Corp                                                    | CUSIP: 01176AAB9<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |    285000 | PA      | $306101.09    | 0.05%             | 2029-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX INDEP SCH DIST       | Austin Independent School District                                      | CUSIP: 052430XV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2398890.83   | 0.38%             | 2043-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AVON IN CMNTY SCH BLDG CORP    | Avon Community School Building Corp                                     | CUSIP: 054071PF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4715000 | PA      | $5002491.47   | 0.78%             | 2043-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV | Build NYC Resource Corp                                                 | CUSIP: 12008ERQ1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    540000 | PA      | $526947.44    | 0.08%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY MUNI CT | California Housing Finance Agency                                       | CUSIP: 13033DAF2<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |  47366472 | PA      | $2017338.02   | 0.32%             | 2035-11-20      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| CIVICVENTURES AK               | CIVICVentures/AK                                                        | CUSIP: 178860BX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750702.45   | 0.27%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH REGL ARPT AUTH REV | Columbus Regional Airport Authority                                     | CUSIP: 199546CX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2075462.80   | 0.32%             | 2041-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                         | CUSIP: 45528U7V7<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   9975000 | PA      | $10846629.47  | 1.70%             | 2048-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO REORG SCH DIST | Jackson County Reorganized School District No 7/MO                      | CUSIP: 467520YM8<br>LEI: 549300HKYX7HMV5CWZ34 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1679976.75   | 0.26%             | 2043-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE  | County of Jefferson AL Sewer Revenue                                    | CUSIP: 472682ZN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4090883.60   | 0.64%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JOHNSON & MIAMI CNTYS KS UNIF  | Johnson & Miami Counties Unified School District No 230 Spring Hills    | CUSIP: 478164KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1778177.60   | 0.28%             | 2043-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH  | Kentucky Economic Development Finance Authority                         | CUSIP: 49126PFD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $219769.51    | 0.03%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    608471 | PA      | $382576.38    | 0.06%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST     | San Diego Unified School District/CA                                    | CUSIP: 797355N75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2995000 | PA      | $1169319.58   | 0.18%             | 2045-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL  | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HCH8<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   4065000 | PA      | $4334200.97   | 0.68%             | 2052-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIMBLE CNTY KY POLL CONTROL R | County of Trimble KY                                                    | CUSIP: 896224BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3266745.30   | 0.51%             | 2044-09-01      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RSD | Virginia Beach Development Authority                                    | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2022823.00   | 0.32%             | 2029-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| W HARRIS CNTY TX REGL WTR AUTH | West Harris County Regional Water Authority                             | CUSIP: 95308RYX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4774880.25   | 0.75%             | 2042-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL SCH DIST #114 MAN | Will County School District No 114 Manhattan                            | CUSIP: 968838KA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3765000 | PA      | $3984503.64   | 0.62%             | 2045-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BELMONT-REDWOOD SHORES CA SCH  | Belmont-Redwood Shores School District/CA                               | CUSIP: 080495DH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2157890.80   | 0.34%             | 2039-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO SCH DIST | Denver City & County School District No 1                               | CUSIP: 249174ZE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13000000 | PA      | $14064131.90  | 2.20%             | 2044-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MTGE CORP MU | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 3137H9JQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  51802365 | PA      | $3475938.68   | 0.54%             | 2036-09-25      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| GREENE CNTY MO REORG SCH DIST# | Republic School District No R-3                                         | CUSIP: 394532LN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $575284.25    | 0.09%             | 2044-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCH BLDG CORP IN     | IPS Multi-School Building Corp                                          | CUSIP: 46263RRM9<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1607750.42   | 0.25%             | 2042-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO REORG SCH DIST | Jackson County Reorganized School District No 7/MO                      | CUSIP: 467520YL0<br>LEI: 549300HKYX7HMV5CWZ34 | Long             | DBT              | MUN               | US        |   3910000 | PA      | $4407590.12   | 0.69%             | 2042-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LAKESIDE CA UNION SCH DIST SAN | Lakeside Union School District/San Diego County                         | CUSIP: 512138DE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4375000 | PA      | $2421899.81   | 0.38%             | 2039-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BAY CNTY FL SCH BRD COPS       | Bay County School Board                                                 | CUSIP: 072231GK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1663593.28   | 0.26%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY MUNI CT | California Housing Finance Agency                                       | CUSIP: 13033DAH8<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |  40185940 | PA      | $1619895.26   | 0.25%             | 2035-03-25      | Variable      | 0.83%                 | No            |                  2 | On Loan: No      |
| FRETE 2021-ML11 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 302610AD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        | 158151245 | PA      | $7679824.43   | 1.20%             | 2038-03-25      | Fixed         | 0.77%                 | No            |                  2 | On Loan: No      |
| LEMON GROVE CA SCH DIST        | Lemon Grove School District                                             | CUSIP: 525651DX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $559291.30    | 0.09%             | 2039-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                             | CUSIP: 56035DGT3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6411283.20   | 1.00%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FRETE 2020-ML07 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 35833FAC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  14723512 | PA      | $1864585.56   | 0.29%             | 2036-10-25      | Variable      | 2.02%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO FL AVIATION AUTH A | Greater Orlando Aviation Authority                                      | CUSIP: 392275FE8<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   8390000 | PA      | $8708776.37   | 1.36%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOPE CA ELEM SCH DIST          | Hope Elementary School District                                         | CUSIP: 439413EF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $328378.95    | 0.05%             | 2036-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE CA TOBACCO SECUR | Inland Empire Tobacco Securitization Corp                               | CUSIP: 45734TAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5115000 | PA      | $4932386.32   | 0.77%             | 2038-06-01      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO REORG SCH DIST | Jackson County School District No R-IV Blue Springs                     | CUSIP: 467486YQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2894913.44   | 0.45%             | 2044-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEANDER TX INDEP SCH DIST      | Leander Independent School District                                     | CUSIP: 521841S49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1145512.06   | 0.18%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLATTE CNTY MO REORG SCH DIST# | Platte County R-III School District                                     | CUSIP: 727717LF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2675000 | PA      | $3020010.00   | 0.47%             | 2044-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| POWAY CA UNIF SCH DIST         | Poway Unified School District                                           | CUSIP: 738850RF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4955000 | PA      | $2574653.18   | 0.40%             | 2040-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL ARPT REVENUE       | County of Lee FL Airport Revenue                                        | CUSIP: 523470HU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2774552.62   | 0.43%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue             | CUSIP: 592647PA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3967534.13   | 0.62%             | 2043-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                              | CUSIP: 59447TH97<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   5295000 | PA      | $4972741.53   | 0.78%             | 2039-06-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| NEVADA DEPT OF BUSINESS & INDU | State of Nevada Department of Business & Industry                       | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2758395.60   | 0.43%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                | CUSIP: 74442PXM2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1934544.20   | 0.30%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196X40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4183521.20   | 0.65%             | 2047-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN  | New York City Municipal Water Finance Authority                         | CUSIP: 64972GL28<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   3790000 | PA      | $3951238.73   | 0.62%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL  | New York City Transitional Finance Authority                            | CUSIP: 64972JNJ3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5279538.50   | 0.83%             | 2043-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST     | San Diego Unified School District/CA                                    | CUSIP: 797355Q56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3530000 | PA      | $3453260.98   | 0.54%             | 2041-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA SAN AUTH     | Allegheny County Sanitary Authority                                     | CUSIP: 017357N67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6835000 | PA      | $7255376.42   | 1.13%             | 2047-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AVON IN CMNTY SCH BLDG CORP    | Avon Community School Building Corp                                     | CUSIP: 054071PD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2535692.80   | 0.40%             | 2040-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                    | CUSIP: 1675934Q2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7250000 | PA      | $7523281.50   | 1.18%             | 2044-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLONY TX LOCAL DEV CORP SALES | Colony Local Development Corp                                           | CUSIP: 19625ABJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700168.49    | 0.11%             | 2033-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TX INTERNATI | Dallas Fort Worth International Airport                                 | CUSIP: 23503CEF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3910000 | PA      | $4026236.87   | 0.63%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FISHERS TOWN HALL BLDG CORP IN | Fishers Town Hall Building Corp                                         | CUSIP: 338042EC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1172407.36   | 0.18%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN | Florida Development Finance Corp                                        | CUSIP: 34061UFD5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    195000 | PA      | $194936.55    | 0.03%             | 2025-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FRETE 2021-ML12 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 35833TAB1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  25361258 | PA      | $2243203.25   | 0.35%             | 2041-07-25      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                               | CUSIP: 45506EPE7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000658.10   | 0.16%             | 2032-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN | New Hampshire Business Finance Authority                                | CUSIP: 63608TAY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001031.30   | 0.16%             | 2039-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                          | CUSIP: 646136WT4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $592970.03    | 0.09%             | 2038-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                      | CUSIP: 64990CQE4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3157517.40   | 0.49%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                  | CUSIP: 65820YSZ0<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250103.10    | 0.04%             | 2028-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ROCKLAND CNTY NY SOL WST MGMT  | Rockland County Solid Waste Management Authority                        | CUSIP: 77356FAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2585000 | PA      | $2867051.94   | 0.45%             | 2049-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROWLAND CA UNIF SCH DIST       | Rowland Unified School District                                         | CUSIP: 779631ER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5145000 | PA      | $2532551.13   | 0.40%             | 2041-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE | City of San Antonio TX Electric & Gas Systems Revenue                   | CUSIP: 79625GGQ0<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   3025000 | PA      | $3176610.88   | 0.50%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN BERNARDINO CA CMNTY CLG DI | San Bernardino Community College District                               | CUSIP: 796720GG9<br>LEI: 549300Y4FPTEP3EQZ007 | Long             | DBT              | MUN               | US        |  12660000 | PA      | $5050461.40   | 0.79%             | 2044-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA TOBACCO SETTLEMEN | City of San Diego Tobacco Settlement Revenue Funding Corp               | CUSIP: 797330AP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $557555.83    | 0.09%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST     | San Diego Unified School District/CA                                    | CUSIP: 797355N26<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7760000 | PA      | $4118024.03   | 0.64%             | 2040-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST     | San Diego Unified School District/CA                                    | CUSIP: 797355N34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7870000 | PA      | $3918524.16   | 0.61%             | 2041-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA REGL ARPT AU | San Diego County Regional Airport Authority                             | CUSIP: 79739GSU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2479322.93   | 0.39%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SPRING TX INDEP SCH DIST       | Spring Independent School District                                      | CUSIP: 850001CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5289260.50   | 0.83%             | 2044-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TIPPECANOE CNTY IN SCH BLDG CO | Tippecanoe County School Building Corp                                  | CUSIP: 88786PHJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1588794.55   | 0.25%             | 2042-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TIPPECANOE CNTY IN SCH BLDG CO | Tippecanoe County School Building Corp                                  | CUSIP: 88786PKC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1120648.80   | 0.18%             | 2041-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRI-CREEK IN 2002 HIGH SCH BLD | Tri-Creek 2002 High School Building Corp                                | CUSIP: 89556GJD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4345000 | PA      | $4690268.47   | 0.73%             | 2040-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIV OF NORTH CAROLINA AT CHAP | University of North Carolina at Chapel Hill                             | CUSIP: 914714CY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8180000 | PA      | $8575841.65   | 1.34%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF NORTH CAROLINA AT CHAP | University of North Carolina at Chapel Hill                             | CUSIP: 914714CZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6325000 | PA      | $6519499.44   | 1.02%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SPL OBLIG   | County of Miami-Dade FL                                                 | CUSIP: 59333NZ97<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $1719260.55   | 0.27%             | 2045-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MOUNT SAN ANTONIO CA CMNTY CLG | Mount San Antonio Community College District                            | CUSIP: 623040FW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1542230.86   | 0.24%             | 2043-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| National Finance Authority     | New Hampshire Business Finance Authority                                | CUSIP: 63607WAP9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  58523972 | PA      | $3033882.72   | 0.47%             | 2038-01-20      | Variable      | 0.81%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                           | CUSIP: 66285WCD6<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $635522.11    | 0.10%             | 2038-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PLACENTIA-YORBA LINDA CA UNIF  | Placentia-Yorba Linda Unified School District                           | CUSIP: 725894KE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5325000 | PA      | $2576673.78   | 0.40%             | 2041-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX NAV DIST DOCK | Port of Beaumont Navigation District                                    | CUSIP: 73360CAS3<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509204.90   | 0.24%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                | CUSIP: 74442PL45<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2129000 | PA      | $1232059.54   | 0.19%             | 2034-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN PARK CA UNIF SCH DIST  | Baldwin Park Unified School District                                    | CUSIP: 058219SJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $611856.60    | 0.10%             | 2037-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ADAMS & ARAPAHOE CNTYS CO JT S | Adams & Arapahoe Counties Joint School District 28J Aurora              | CUSIP: 0054824T8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $3673117.46   | 0.57%             | 2043-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALABAMA FEDERAL AID HIGHWAY FI | Alabama Federal Aid Highway Finance Authority                           | CUSIP: 010268DT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1860000 | PA      | $1926942.33   | 0.30%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST RAILROAD CORP CRUISE | Alaska Railroad Corp                                                    | CUSIP: 01176AAA1<br>LEI: 549300SM5ZU2HV31E004 | Long             | DBT              | MUN               | US        |    215000 | PA      | $227991.22    | 0.04%             | 2028-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAY CNTY FL SCH BRD COPS       | Bay County School Board                                                 | CUSIP: 072231GL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1391786.89   | 0.22%             | 2042-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                          | CUSIP: 09182TDB0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3361189.88   | 0.53%             | 2054-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV WTR RECLAMATION  | Clark County Water Reclamation District                                 | CUSIP: 181070FV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4153588.80   | 0.65%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLAY CNTY MO SCH DIST #R-II SM | Smithville R-II School District                                         | CUSIP: 183513FW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $1043346.68   | 0.16%             | 2043-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COMMERCE GA SCH DIST           | Commerce School District                                                | CUSIP: 200635BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $557381.25    | 0.09%             | 2044-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                    | CUSIP: 20772KB32<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1671806.40   | 0.26%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                       | CUSIP: 249182TE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6660000 | PA      | $7713709.24   | 1.21%             | 2036-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA INCOME TAX SE | District of Columbia Income Tax Revenue                                 | CUSIP: 25477GUV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6080000 | PA      | $6338909.50   | 0.99%             | 2047-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST TURNPIKE AUTH      | Oklahoma Turnpike Authority                                             | CUSIP: 679111F90<br>LEI: 549300J83EP2PBDYH615 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1574692.65   | 0.25%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R | Industrial Development Authority of the City of Phoenix Arizona/The     | CUSIP: 71885FFC6<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    650000 | PA      | $653583.91    | 0.10%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAMPBELL CA UNION SCH DIST     | Campbell Union School District                                          | CUSIP: 134141ZK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $2580637.93   | 0.40%             | 2039-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CASS CNTY ND JT WTR RESOURCE D | Cass County Joint Water Resource District                               | CUSIP: 14805PBA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3003645.90   | 0.47%             | 2027-04-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CENTRL PUGET SOUND WA REGL TRA | Central Puget Sound Regional Transit Authority                          | CUSIP: 155048DL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10697482.00  | 1.67%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK-PLEASANT IN CMNTY SCH BL | Clark-Pleasant Community School Building Corp                           | CUSIP: 181503GP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2721545.84   | 0.43%             | 2042-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLONY TX ECON DEV CORP SALES  | Colony Economic Development Corp                                        | CUSIP: 19625CAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1452661.35   | 0.23%             | 2042-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL  | Connecticut State Health & Educational Facilities Authority             | CUSIP: 20775DZM7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    570000 | PA      | $612313.89    | 0.10%             | 2030-09-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| DALLAS TX AREA RAPID TRANSIT S | Dallas Area Rapid Transit                                               | CUSIP: 235241RW8<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1760834.08   | 0.28%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALDINE TX INDEP SCH DIST       | Aldine Independent School District                                      | CUSIP: 014393ZP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2855329.59   | 0.45%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVON IN CMNTY SCH BLDG CORP    | Avon Community School Building Corp                                     | CUSIP: 054071PE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2465000 | PA      | $2649698.01   | 0.41%             | 2041-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY MUNI CT | California Housing Finance Agency                                       | CUSIP: 13033DAK1<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |  24728439 | PA      | $1120445.56   | 0.18%             | 2036-08-20      | Variable      | 0.79%                 | No            |                  2 | On Loan: No      |
| CLAY CNTY MO SCH DIST #R-II SM | Smithville R-II School District                                         | CUSIP: 183513FX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2130000 | PA      | $2367515.24   | 0.37%             | 2044-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONYERS GA TAX ALLOCATION      | City of Conyers GA                                                      | CUSIP: 21288AAA4<br>LEI: 549300WNDBTR12BDTR82 | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1035907.60   | 0.16%             | 2031-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| EL RANCHO CA UNIF SCH DIST     | El Rancho Unified School District                                       | CUSIP: 283839VF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $250033.57    | 0.04%             | 2035-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multifamily        | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 30309HAB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  44266160 | PA      | $642744.64    | 0.10%             | 2033-11-25      | Variable      | 0.25%                 | No            |                  2 | On Loan: No      |
| FISHERS TOWN HALL BLDG CORP IN | Fishers Town Hall Building Corp                                         | CUSIP: 338042ED2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $788428.78    | 0.12%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORT LAUDERDALE FL WTR & SWR R | City of Fort Lauderdale FL Water & Sewer Revenue                        | CUSIP: 347658ZX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4115000 | PA      | $4353353.56   | 0.68%             | 2048-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORT WAYNE IN REDEV AUTH LEASE | Fort Wayne Redevelopment Authority                                      | CUSIP: 349288JS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2040000 | PA      | $2093553.26   | 0.33%             | 2041-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TX SPL TAX REVENUE  | City of Fort Worth TX                                                   | CUSIP: 349507DT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2137260.60   | 0.33%             | 2042-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FORT WORTH TX SPL TAX REVENUE  | City of Fort Worth TX                                                   | CUSIP: 349507DU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1571267.90   | 0.25%             | 2043-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                       | CUSIP: 249182TK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5990000 | PA      | $6391216.79   | 1.00%             | 2041-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MTGE CORP MU | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 3137H9JP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  79964554 | PA      | $4296495.48   | 0.67%             | 2036-07-25      | Variable      | 0.96%                 | No            |                  2 | On Loan: No      |
| FRETE 2021-ML10 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 35833JAG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  23279329 | PA      | $3302405.62   | 0.52%             | 2038-01-25      | Variable      | 2.06%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO FL AVIATION AUTH A | Greater Orlando Aviation Authority                                      | CUSIP: 392275EL3<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3077989.80   | 0.48%             | 2044-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                              | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  24962122 | NS      | $24962121.73  | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| FISHERS TOWN HALL BLDG CORP IN | Fishers Town Hall Building Corp                                         | CUSIP: 338042EE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1642061.10   | 0.26%             | 2040-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV | County of Hamilton OH                                                   | CUSIP: 407272W25<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   6095000 | PA      | $6206462.92   | 0.97%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOPE CA ELEM SCH DIST          | Hope Elementary School District                                         | CUSIP: 439413EG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $334282.14    | 0.05%             | 2037-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HOPE CA ELEM SCH DIST          | Hope Elementary School District                                         | CUSIP: 439413EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $318879.88    | 0.05%             | 2038-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE    | City of Houston TX Airport System Revenue                               | CUSIP: 442349JK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2790000 | PA      | $3038811.64   | 0.48%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FISHERS TOWN HALL BLDG CORP IN | Fishers Town Hall Building Corp                                         | CUSIP: 338042EH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2155730.20   | 0.34%             | 2043-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FOWLER CA UNIF SCH DIST        | Fowler Unified School District                                          | CUSIP: 351136HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4945000 | PA      | $5200867.16   | 0.81%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FRUITA CO HLTHCARE REVENUE     | City of Fruita CO Healthcare Revenue                                    | CUSIP: 359427AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $436059.58    | 0.07%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREENE CNTY MO REORG SCH DIST# | Republic School District No R-3                                         | CUSIP: 394532LP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $572870.80    | 0.09%             | 2045-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JOHNSON & MIAMI CNTYS KS UNIF  | Johnson & Miami Counties Unified School District No 230 Spring Hills    | CUSIP: 478164LA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $940816.21    | 0.15%             | 2044-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LAKE RIDGE IN MULTI-SCH BLDG C | Lake Ridge Multi-School Building Corp                                   | CUSIP: 510651BN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1966546.91   | 0.31%             | 2040-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T | Lower Colorado River Authority                                          | CUSIP: 54811BZS3<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5182019.00   | 0.81%             | 2047-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SPL OBLIG   | County of Miami-Dade FL                                                 | CUSIP: 59333NNK5<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $2500457.00   | 0.39%             | 2040-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MILLBRAE CA SCH DIST           | Millbrae School District                                                | CUSIP: 60012PCB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $970570.28    | 0.15%             | 2039-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709225GG5<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1085557.27   | 0.17%             | 2042-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP DIS | City of Phoenix Civic Improvement Corp                                  | CUSIP: 71884WCT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1739590.12   | 0.27%             | 2042-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PITTSBURG CALIF UNI SCH DIST   | Pittsburg Unified School District Financing Authority                   | CUSIP: 724586AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3010000 | PA      | $1426090.44   | 0.22%             | 2041-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURG CALIF UNI SCH DIST   | Pittsburg Unified School District Financing Authority                   | CUSIP: 724586AZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $874287.97    | 0.14%             | 2042-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| POTTSBORO TX HGR EDU FIN CORP  | Pottsboro Higher Education Finance Corp                                 | CUSIP: 738222BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $534560.75    | 0.08%             | 2040-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SAN BERNARDINO CA CMNTY CLG DI | San Bernardino Community College District                               | CUSIP: 796720GF1<br>LEI: 549300Y4FPTEP3EQZ007 | Long             | DBT              | MUN               | US        |    210000 | PA      | $118662.18    | 0.02%             | 2038-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FRETE 2021-ML09 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 30319NAA0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  37833816 | PA      | $4078107.01   | 0.64%             | 2040-02-25      | Variable      | 1.55%                 | No            |                  2 | On Loan: No      |
| FRETE 2021-ML10 TRUST          | Freddie Mac Multifamily ML Certificates                                 | CUSIP: 35833JAE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  62322086 | PA      | $6652882.68   | 1.04%             | 2038-06-25      | Variable      | 1.52%                 | No            |                  2 | On Loan: No      |
| GREATER CLARK IN BLDG CORP     | Greater Clark Building Corp                                             | CUSIP: 39167GLR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1296866.13   | 0.20%             | 2043-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX HOSP DIST CTFS  | Harris County Hospital District                                         | CUSIP: 41415UBW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2575923.25   | 0.40%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOPE CA ELEM SCH DIST          | Hope Elementary School District                                         | CUSIP: 439413EK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $556282.65    | 0.09%             | 2040-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HORRY CNTY SC LTD OBLIG        | County of Horry SC                                                      | CUSIP: 440671AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4156978.00   | 0.65%             | 2047-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JACKSON CNTY MO REORG SCH DIST | Jackson County School District No R-IV Blue Springs                     | CUSIP: 467486YN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3320000 | PA      | $3611519.57   | 0.56%             | 2042-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JOHNSON & MIAMI CNTYS KS UNIF  | Johnson & Miami Counties Unified School District No 230 Spring Hills    | CUSIP: 478164KY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1850344.49   | 0.29%             | 2042-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LA PLATA CNTY CO SCH DIST #9-R | Durango School District No 9-R                                          | CUSIP: 503768NV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1315231.70   | 0.21%             | 2044-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAKESIDE CA UNION SCH DIST SAN | Lakeside Union School District/San Diego County                         | CUSIP: 512138DD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4035000 | PA      | $2372193.04   | 0.37%             | 2038-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL INDL DEV AUTH HLTH | Lee County Industrial Development Authority/FL                          | CUSIP: 52349EET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2067308.36   | 0.32%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LINDBERGH MO SCH DIST          | Lindbergh School District                                               | CUSIP: 535205NP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5447557.00   | 0.85%             | 2042-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MANHATTAN BEACH CA UNIF SCH DI | Manhattan Beach Unified School District                                 | CUSIP: 562785HY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $640011.53    | 0.10%             | 2041-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST STADIUM AUTH REVEN | Maryland Stadium Authority                                              | CUSIP: 574296CR8<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |   5775000 | PA      | $5938014.97   | 0.93%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP | Metropolitan Nashville Airport Authority/The                            | CUSIP: 592190QS4<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1787740.52   | 0.28%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SPL OBLIG   | County of Miami-Dade FL                                                 | CUSIP: 59333NNL3<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2360000 | PA      | $1108657.44   | 0.17%             | 2041-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SPL OBLIG   | County of Miami-Dade FL                                                 | CUSIP: 59333NNM1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2085000 | PA      | $919675.15    | 0.14%             | 2042-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS | New Hampshire Business Finance Authority                                | CUSIP: 63607WAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  65814968 | PA      | $2804375.77   | 0.44%             | 2036-10-20      | Variable      | 0.69%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN | New Hampshire Business Finance Authority                                | CUSIP: 63608TAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2998000 | PA      | $2996728.85   | 0.47%             | 2033-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X4D7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10095000 | PA      | $10593765.68  | 1.66%             | 2045-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NOBLESVILLE IN HIGH SCH BLDG C | Noblesville High School Building Corp                                   | CUSIP: 655158HL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $805124.25    | 0.13%             | 2040-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                  | CUSIP: 65820YTA4<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    585000 | PA      | $585200.89    | 0.09%             | 2028-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                  | CUSIP: 65820YTR7<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600165.12    | 0.09%             | 2029-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                  | CUSIP: 65820YTS5<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1090326.78   | 0.17%             | 2028-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| OCEANSIDE CA UNIF SCH DIST     | Oceanside Unified School District/CA                                    | CUSIP: 675383JT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $284364.94    | 0.04%             | 2039-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT CA UNIF SCH DIST     | Paramount Unified School District                                       | CUSIP: 699211HT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $389995.83    | 0.06%             | 2037-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COMMERCE GA SCH DIST           | Commerce School District                                                | CUSIP: 200635BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $448386.08    | 0.07%             | 2043-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                | CUSIP: 74442PD51<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    587319 | PA      | $588921.28    | 0.09%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO HIGHWAY & TRANSPRT | Puerto Rico Highway & Transportation Authority                          | CUSIP: 745185BP2<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1395007.39   | 0.22%             | 2027-03-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA UNIF SCH DIST     | San Diego Unified School District/CA                                    | CUSIP: 797355N59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4420000 | PA      | $1941345.33   | 0.30%             | 2043-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SANTA BARBARA CA SECONDARY HIG | Santa Barbara Secondary High School District                            | CUSIP: 80131RAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6380000 | PA      | $3175939.76   | 0.50%             | 2040-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| S ISLAND SC PUBLIC SVC DIST WT | South Island Public Service District/SC                                 | CUSIP: 838466DN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3330000 | PA      | $3515404.08   | 0.55%             | 2042-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C | Southeast Energy Authority A Cooperative District                       | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   7775000 | PA      | $8284608.49   | 1.30%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| S ESTRN PA TRANSPRTN AUTH      | Southeastern Pennsylvania Transportation Authority                      | CUSIP: 842039FM6<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   2585000 | PA      | $2741190.61   | 0.43%             | 2041-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                             | CUSIP: 93978TS67<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |  63961428 | PA      | $2491297.62   | 0.39%             | 2035-12-20      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX INDL DEV AUTH | Port of Beaumont Industrial Development Authority                       | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2682669.60   | 0.42%             | 2028-01-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| POWAY CA UNIF SCH DIST         | Poway Unified School District                                           | CUSIP: 738850RH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12165000 | PA      | $4244544.89   | 0.66%             | 2046-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                        | CUSIP: 709225GF7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1083889.33   | 0.17%             | 2041-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PLATTE CNTY MO REORG SCH DIST# | Platte County R-III School District                                     | CUSIP: 727717LE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2432882.17   | 0.38%             | 2043-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PLATTE CNTY MO REORG SCH DIST# | Platte County R-III School District                                     | CUSIP: 727717LG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2812577.25   | 0.44%             | 2045-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL | Rhode Island Health and Educational Building Corp                       | CUSIP: 762196X32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3335000 | PA      | $3519244.41   | 0.55%             | 2042-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA CMNTY CLG DIST    | San Diego Community College District                                    | CUSIP: 797272KA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8525000 | PA      | $4757978.12   | 0.74%             | 2039-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VENICE FL                      | City of Venice FL                                                       | CUSIP: 922687AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $853269.19    | 0.13%             | 2030-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WASATCH CNTY SCH DIST LOCAL BL | Wasatch County School District Local Building Authority                 | CUSIP: 936785AU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7570000 | PA      | $7860614.57   | 1.23%             | 2047-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                             | CUSIP: 939783X35<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1135770.78   | 0.18%             | 2029-07-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-29

**Name of Applicant:** Trust for Professional Managers

**Signature:** /s/ Kelly Strauss

**Name of Signer:** Kelly Strauss

**Title:** Treasurer