# EDGAR Filing Document

**Accession Number:** 0000751656
**File Stem:** 0001752724-23-037562
**Filing Date:** 2023-2
**Character Count:** 240172
**Document Hash:** c9fc5872e23e3132a9a2eeeeabd385e6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037562.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037562

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000751656
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04096
- **FILM NUMBER:** 23662616

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE MUNICIPAL BOND TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19890410

## Series and Classes Contracts Data

### MFS Massachusetts Municipal Bond Fund (Series ID: S000002534)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006987 | A            | MFSSX           |
| C000006988 | B            | MBMAX           |
| C000169770 | I            | MTALX           |
| C000194250 | R6           | MPMAX           |

## Nport-Ex

![](imge4a79f6c1.gif)

### Quarterly Report
December 31, 2022

MFS<sup>®</sup> Massachusetts<br> Municipal Bond Fund

![](imgffefabfa2.gif)

MMA-Q3

------

### Portfolio of Investments
12/31/22 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – 95.2% | Municipal Bonds – 95.2% | Municipal Bonds – 95.2% |
| Airport Revenue – 6.9% | Airport Revenue – 6.9% | Airport Revenue – 6.9% |
| Denver, CO, City & County Airport System Rev., "A", 4.125%, 11/15/2047 | $&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$237967 |
| Denver, CO, City & County Airport System Rev., "A", 4.125%, 11/15/2053 | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219169 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2038 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091351 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2040 | 2755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859172 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2042 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3070068 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2042 | 3455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608730 |
| Massachusetts Port Authority Rev., "A", 5%, 7/01/2047 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525057 |
| Massachusetts Port Authority Rev., "B", 5%, 7/01/2043 | 3625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3687871 |
| Massachusetts Port Authority Rev., "C", 5%, 7/01/2044 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084069 |
| Massachusetts Port Authority Rev., "E", 5%, 7/01/2029 | &nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672842 |
| Massachusetts Port Authority Rev., "E", 5%, 7/01/2030 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548131 |
| Massachusetts Port Authority Rev., "E", 5%, 7/01/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102485 |
| Massachusetts Port Authority Rev., "E", 5%, 7/01/2032 | 1590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745766 |
| Massachusetts Port Authority Rev., "E", 5%, 7/01/2051 | 3055000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3129841 |
|  |  | &nbsp;&nbsp;&nbsp;$27582519 |
| General Obligations - General Purpose – 18.7% | General Obligations - General Purpose – 18.7% | General Obligations - General Purpose – 18.7% |
| Ashland, MA, General Obligation Purpose Loan, Unlimited Tax, 4%, 8/01/2040 | $1830000 | &nbsp;&nbsp;&nbsp;&nbsp;$1834037 |
| Ashland, MA, General Obligation Purpose Loan, Unlimited Tax, 4%, 8/01/2041 | 1905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894655 |
| Ashland, MA, General Obligation Purpose Loan, Unlimited Tax, 4%, 8/01/2042 | 1980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950627 |
| Attleboro, MA, General Obligation School Construction Bond Anticipation Notes, 5%, 11/01/2023 | 8800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8939206 |
| Bridgeview, IL, Stadium and Redevelopment Projects, Taxable, AAC, 5.14%, 12/01/2036 | &nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625551 |
| Brockton, MA, Public Safety Facility, General Obligation, 4%, 8/01/2052 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3709019 |
| Chicago, IL, General Obligation, "A", 5%, 1/01/2025 | &nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545286 |
| Chicago, IL, General Obligation, "A", 5%, 1/01/2027 | &nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175922 |
| Commonwealth of Massachusetts, "B", 5.25%, 8/01/2023 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013509 |
| Commonwealth of Massachusetts, "B", 5.25%, 8/01/2028 | 2225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527328 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "C", 5%, 5/01/2029 | 1410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420486 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "F", 5%, 11/01/2042 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165193 |
| Commonwealth of Massachusetts, General Obligation Consolidated Loan, "I", 5%, 12/01/2034 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074434 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, Series 2022A, 0%, 7/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;47977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44466 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Capital Appreciation, Series 2022A, 0%, 7/01/2033 | &nbsp;&nbsp;&nbsp;184909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99955 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.25%, 7/01/2023 | 1901834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901831 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.375%, 7/01/2025 | &nbsp;&nbsp;&nbsp;160025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161231 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.625%, 7/01/2027 | &nbsp;&nbsp;&nbsp;158576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161568 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.625%, 7/01/2029 | &nbsp;&nbsp;&nbsp;156003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159624 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 5.75%, 7/01/2031 | &nbsp;&nbsp;&nbsp;343525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355194 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2033 | &nbsp;&nbsp;&nbsp;143685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124583 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2035 | &nbsp;&nbsp;&nbsp;282284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237567 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2037 | &nbsp;&nbsp;&nbsp;110848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90681 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2041 | &nbsp;&nbsp;&nbsp;150711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118006 |
| Commonwealth of Puerto Rico, General Obligation Restructured Bonds, Series 2022A, 4%, 7/01/2046 | &nbsp;&nbsp;&nbsp;516737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387391 |
| Framingham, MA, General Obligation Purpose Loan, 5%, 8/01/2040 | 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180568 |
| Framingham, MA, General Obligation Purpose Loan, 5%, 8/01/2041 | 1095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213887 |
| Framingham, MA, General Obligation Purpose Loan, 5%, 8/01/2042 | 1130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250113 |
| Georgetown, MA, General Obligation, Refunding, Unlimited Tax, 4%, 5/01/2032 | &nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882699 |
| Lawrence, MA, General Obligation Purpose Loan, 4%, 6/01/2034 | 1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190055 |
| Lawrence, MA, General Obligation Purpose Loan, 4%, 6/01/2044 | 1665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587121 |
| Lawrence, MA, General Obligation Purpose Loan, 3%, 2/01/2049 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238685 |
| Massachusetts Turnpike Authority, Metropolitan Highway System Rev., Capital Appreciation, "A", NPFG, 0%, 1/01/2029 | 1560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262271 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2039 | 1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102167 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2040 | 1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127761 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2041 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994552 |
| Nantucket, MA, General Obligation Purpose Loan, "A", 4%, 8/15/2042 | &nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684670 |
| New Bedford, MA, General Obligation State Qualified Municipal Purpose Loan, 4%, 9/01/2047 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4690501 |
| Norton, MA, General Obligation Municipal Purpose Loan, 5%, 10/15/2023 | 1215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235148 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| General Obligations - General Purpose – continued | General Obligations - General Purpose – continued | General Obligations - General Purpose – continued |
| Norton, MA, General Obligation Municipal Purpose Loan, 5%, 10/15/2024 | $&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$769921 |
| Norton, MA, General Obligation Municipal Purpose Loan, 5%, 10/15/2025 | &nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372327 |
| Provincetown, MA, General Obligation Municipal Purpose Loan, Taxable, 3%, 6/15/2028 | &nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757503 |
| Quincy, MA, General Obligation Purpose Loan, "A", 4%, 6/01/2039 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494287 |
| Quincy, MA, General Obligation Purpose Loan, "A", 4%, 6/01/2040 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492850 |
| Quincy, MA, General Obligation Purpose Loan, "A", 4%, 6/01/2041 | &nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290047 |
| Quincy, MA, General Obligation Purpose Loan, "A", 4%, 6/01/2042 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386303 |
| Quincy, MA, General Obligation Purpose Loan, "A", 5%, 6/01/2047 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128939 |
| Quincy, MA, General Obligation Purpose Loan, "A", 5%, 6/01/2050 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176582 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2038 | &nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760293 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2039 | &nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829237 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2040 | &nbsp;&nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874994 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2041 | &nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687598 |
| Quincy, MA, General Obligation, "B", 5%, 7/01/2042 | &nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663934 |
| State of California, Various Purpose General Obligation, 4%, 3/01/2036 | 1410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451979 |
| State of Illinois, General Obligation, 5.5%, 5/01/2039 | &nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288983 |
| State of Illinois, General Obligation, 5.75%, 5/01/2045 | &nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264847 |
| State of Illinois, General Obligation, "A", 4%, 3/01/2040 | &nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517015 |
| State of Illinois, General Obligation, "C", 4%, 10/01/2040 | &nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819879 |
| State of Illinois, General Obligation, "C", 4%, 10/01/2041 | &nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507249 |
| Tisbury, MA, General Obligation, Municipal Purpose Loan, Unlimited Tax, 3%, 8/15/2052 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705483 |
| West Springfield, MA, General Obligation, 3%, 5/15/2032 | 1490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429251 |
| West Springfield, MA, General Obligation, 3%, 5/15/2033 | 1490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413952 |
|  |  | &nbsp;&nbsp;&nbsp;$74441001 |
| General Obligations - Schools – 1.0% | General Obligations - Schools – 1.0% | General Obligations - Schools – 1.0% |
| Chicago, IL, Board of Education, Unlimited Tax General Obligation Dedicated Rev., "A", 4%, 12/01/2047 | $1270000 | &nbsp;&nbsp;&nbsp;&nbsp;$1025584 |
| Orange County, CA, Anaheim Elementary School District, AGM, 4%, 8/01/2048 | 1285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241149 |
| San Marcos, CA, Unified School District (Election of 2010), Capital Appreciation, "C", 0%, 8/01/2038 (Prerefunded 2/15/2024) | 3375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3797456 |
| Healthcare Revenue - Hospitals – 14.0% | Healthcare Revenue - Hospitals – 14.0% | Healthcare Revenue - Hospitals – 14.0% |
| California Health Facilities Financing Authority Rev., (Cedars-Sinai Health System), "A", 5%, 8/15/2051 | $2405000 | &nbsp;&nbsp;&nbsp;&nbsp;$2555715 |
| Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Rev. (Memorial Hermann Health System), "A", 4.125%, 7/01/2052 | 1960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845430 |
| Massachusetts Development Finance Agency Rev. (Atrius Health Issue), "A", 4%, 6/01/2049 (Prerefunded 6/01/2029) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1616836 |
| Massachusetts Development Finance Agency Rev. (Baystate Medical Center), "N", 5%, 7/01/2044 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010614 |
| Massachusetts Development Finance Agency Rev. (Berkshire Health Systems), "I", 5%, 10/01/2029 | &nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663393 |
| Massachusetts Development Finance Agency Rev. (Berkshire Health Systems), "I", 5%, 10/01/2030 | 1675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868304 |
| Massachusetts Development Finance Agency Rev. (Berkshire Health Systems), "I", 5%, 10/01/2031 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448705 |
| Massachusetts Development Finance Agency Rev. (Beth Israel Lahey Health), "K", 5%, 7/01/2036 | &nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676761 |
| Massachusetts Development Finance Agency Rev. (Beth Israel Lahey Health), "K", 5%, 7/01/2037 | &nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901096 |
| Massachusetts Development Finance Agency Rev. (Beth Israel Lahey Health), "K", 5%, 7/01/2038 | &nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738483 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "I", 5%, 7/01/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036858 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "J-2", 5%, 7/01/2036 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058693 |
| Massachusetts Development Finance Agency Rev. (CareGroup), "J-2", 5%, 7/01/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053835 |
| Massachusetts Development Finance Agency Rev. (Children's Hospital), "P", 5%, 10/01/2032 (Prerefunded 10/01/2024) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038759 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "N", 5%, 12/01/2041 | 1690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728315 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2029 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112106 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2030 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109395 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2031 | &nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136450 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2032 | &nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190040 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2033 | &nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162394 |
| Massachusetts Development Finance Agency Rev. (Dana-Farber Cancer Institute), "O", 5%, 12/01/2034 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428959 |
| Massachusetts Development Finance Agency Rev. (Lahey Health System), "F", 5%, 8/15/2030 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2087101 |
| Massachusetts Development Finance Agency Rev. (Milford Regional Medical Center), "F", 5.75%, 7/15/2043 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007101 |
| Massachusetts Development Finance Agency Rev. (Milford Regional Medical Center), "G", 5%, 7/15/2046 (n) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956053 |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "Q", 5%, 7/01/2041 | 1810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851748 |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "Q", 5%, 7/01/2047 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523778 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Healthcare Revenue - Hospitals – continued | Healthcare Revenue - Hospitals – continued | Healthcare Revenue - Hospitals – continued |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "S", 4%, 7/01/2041 | $3500000 | &nbsp;&nbsp;&nbsp;&nbsp;$3379278 |
| Massachusetts Development Finance Agency Rev. (Partners Healthcare), "S-4", 5%, 7/01/2034 | &nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755380 |
| Massachusetts Development Finance Agency Rev. (South Shore Hospital), "I", 5%, 7/01/2041 | 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2326277 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care Obligated Group), "L", 5%, 7/01/2044 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007695 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care), "I", 5%, 7/01/2041 | 1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867575 |
| Massachusetts Development Finance Agency Rev. (UMass Memorial Health Care), "K", 5%, 7/01/2038 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029662 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "A", 4%, 7/01/2044 | 2080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759274 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "A", 5%, 7/01/2044 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936679 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "C", AGM, 5%, 10/01/2034 | &nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485943 |
| Massachusetts Development Finance Agency Rev. (Wellforce, Inc.), "C", AGM, 4%, 10/01/2045 | 4150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3783359 |
| Massachusetts Development Finance Agency Rev., "J-2", 5%, 7/01/2048 | 3615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3673534 |
| Massachusetts Development Financing Agency Rev. (Beth Israel Lahey Health, Inc.), "J-2", 5%, 7/01/2043 | 2855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921259 |
| New York Dormitory Authority Rev. (Norwell Health Obligated Group), "A", 4.25%, 5/01/2052 | 2120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932984 |
|  |  | &nbsp;&nbsp;&nbsp;$55665821 |
| Healthcare Revenue - Long Term Care – 1.5% | Healthcare Revenue - Long Term Care – 1.5% | Healthcare Revenue - Long Term Care – 1.5% |
| Massachusetts Development Finance Agency First Mortgage Rev. (Berkshire Retirement Community), 5%, 7/01/2031 | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;$1023748 |
| Massachusetts Development Finance Agency Rev. (Adventcare), "A", 6.75%, 10/15/2037 (a)(d) | &nbsp;&nbsp;&nbsp;450612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45061 |
| Massachusetts Development Finance Agency Rev. (Carleton-Willard Village), 4%, 12/01/2042 | &nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441932 |
| Massachusetts Development Finance Agency Rev. (Carleton-Willard Village), 5%, 12/01/2042 | &nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534624 |
| Massachusetts Development Finance Agency Rev. (Loomis Communities), 4%, 1/01/2031 (n) | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475302 |
| Massachusetts Development Finance Agency Rev. (Loomis Communities), 4%, 1/01/2051 | &nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718072 |
| Massachusetts Development Finance Agency Rev. (Loomis Communities), ETM, 6%, 1/01/2033 (Prerefunded 7/01/2023) | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253665 |
| Massachusetts Development Finance Agency Rev. (Newbridge on the Charles, Inc.), 5%, 10/01/2037 (n) | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283314 |
| Massachusetts Development Finance Agency Rev. (North Hill Communities), "A", 6.5%, 11/15/2043 (Prerefunded 11/15/2023) (n) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027609 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$5803327 |
| Industrial Revenue - Other – 0.1% | Industrial Revenue - Other – 0.1% | Industrial Revenue - Other – 0.1% |
| Port Beaumont, TX, Navigation District, Dock & Wharf Facility Rev. (Jefferson Gulf Coast Energy Project), "A", 3.625%, 1/01/2035 (n) | $&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$401341 |
| Miscellaneous Revenue - Other – 3.8% | Miscellaneous Revenue - Other – 3.8% | Miscellaneous Revenue - Other – 3.8% |
| Commonwealth of Massachusetts, Federal Highway Grant Anticipation Notes (Accelerated Bridge Program), "A", 5%, 6/15/2024 | $6000000 | &nbsp;&nbsp;&nbsp;&nbsp;$6190782 |
| Massachusetts Development Finance Agency Rev. (Woods Hole Oceanographic Institution), 5%, 6/01/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080902 |
| Massachusetts Development Finance Agency Rev. (Woods Hole Oceanographic Institution), 5%, 6/01/2038 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077944 |
| Massachusetts Development Finance Agency Rev. (Woods Hole Oceanographic Institution), 5%, 6/01/2043 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065786 |
| Massachusetts Port Authority Special Facilities Rev. (BOSFuel Project), "A", 5%, 7/01/2038 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041061 |
| Massachusetts Port Authority Special Facilities Rev. (BOSFuel Project), "A", 5%, 7/01/2039 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073281 |
| Matching Fund Special Purpose Securitization Corp., "A", 5%, 10/01/2026 | &nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143684 |
| New York Liberty Development Corp., Liberty Rev. (3 World Trade Center Project), "1", 5%, 11/15/2044 (n) | &nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861877 |
| Pennsylvania Economic Development Financing Authority, Private Activity Rev. (PennDOT Major Bridges Package One Project), AGM, 5%, 12/31/2057 | 1495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482775 |
|  |  | &nbsp;&nbsp;&nbsp;$15018092 |
| Multi-Family Housing Revenue – 4.0% | Multi-Family Housing Revenue – 4.0% | Multi-Family Housing Revenue – 4.0% |
| Boston, MA, Housing Authority Capital Program Rev., "B", 5%, 4/01/2028 | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;$1110981 |
| Massachusetts Development Finance Agency Rev. (Morville House Apartments), "A", LOC, 4.95%, 12/15/2023 | 1790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795666 |
| Massachusetts Housing Finance Agency, "A", 3.7%, 12/01/2038 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944711 |
| Massachusetts Housing Finance Agency, "A", 3.8%, 12/01/2043 | 2025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868311 |
| Massachusetts Housing Finance Agency, "C", 5.35%, 12/01/2049 | 1035000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035648 |
| Massachusetts Housing Finance Agency, "C-1", HUD Section 8, 5.125%, 12/01/2057 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118073 |
| Massachusetts Housing Finance Agency, "C-1", 2.9%, 12/01/2039 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812370 |
| Massachusetts Housing Finance Agency, "C-1", 3.1%, 12/01/2044 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545059 |
| Massachusetts Housing Finance Agency, Multi-Family Housing, "A", FHA, 4.75%, 12/01/2030 | 1425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425821 |
| Massachusetts Housing Finance Agency, Multi-Family Housing, "A", FHA, 4.875%, 12/01/2032 | 1190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190629 |
| National Finance Authority, New Hampshire Municipal Certificates, "1-A", 4.375%, 9/20/2036 | 1117250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078834 |
|  |  | &nbsp;&nbsp;&nbsp;$15926103 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Port Revenue – 0.7% | Port Revenue – 0.7% | Port Revenue – 0.7% |
| Martha's Vineyard, MA, Woods Hole Steamship Authority, "A", 4%, 3/01/2028 | $2660000 | &nbsp;&nbsp;&nbsp;&nbsp;$2735727 |
| Sales & Excise Tax Revenue – 5.1% | Sales & Excise Tax Revenue – 5.1% | Sales & Excise Tax Revenue – 5.1% |
| Guam Government Business Privilege Tax Refunding, "F", 5%, 1/01/2029 | $&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26408 |
| Guam Government Business Privilege Tax Refunding, "F", 5%, 1/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21267 |
| Guam Government Business Privilege Tax Refunding, "F", 5%, 1/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26732 |
| Guam Government Business Privilege Tax Refunding, "F", 4%, 1/01/2042 | &nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222235 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 5%, 1/01/2028 | &nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295141 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 4%, 1/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77119 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 4%, 1/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52004 |
| Illinois Sales Tax Securitization Corp., Second Lien, "A", 4%, 1/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81793 |
| Massachusetts Bay Transportation Authority, Sales Tax Rev., "A", 5%, 7/01/2024 | 1590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642500 |
| Massachusetts Bay Transportation Authority, Sales Tax Rev., "A-1", 5.25%, 7/01/2029 | 1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2143517 |
| Massachusetts Bay Transportation Authority, Sales Tax Rev., "A-1", 5.25%, 7/01/2031 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2394919 |
| Massachusetts Bay Transportation Authority, Sales Tax Rev., "A-1", 4%, 7/01/2051 | 1720000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571481 |
| Massachusetts School Building Authority, Senior Dedicated Sales Tax Rev., "A", 5%, 2/15/2044 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4257865 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-1", 4.55%, 7/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66971 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-1", 4.75%, 7/01/2053 | &nbsp;&nbsp;&nbsp;239000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211263 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-1", 5%, 7/01/2058 | 2053000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863980 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.329%, 7/01/2040 | &nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400873 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.329%, 7/01/2040 | &nbsp;&nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230614 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.536%, 7/01/2053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4263 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., "2019A-2", 4.784%, 7/01/2058 | &nbsp;&nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87627 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7462 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2027 | &nbsp;&nbsp;&nbsp;117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94655 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16032 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2031 | 1059000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689856 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2033 | 1011000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588102 |
| Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Rev., Capital Appreciation, "2019A-1", 0%, 7/01/2046 | 9313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294646 |
| Wisconsin Public Finance Authority Limited Obligation Grant Rev. (American Dream at Meadowlands Project), "A", 6.25%, 8/01/2027 (a)(d)(n) | &nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481794 |
| Wisconsin Public Finance Authority Limited Obligation Grant Rev., Taxable (American Dream at Meadowlands Project), "A", 5.625%, 8/01/2024 (a)(n) | &nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302500 |
|  |  | &nbsp;&nbsp;&nbsp;$20153619 |
| Secondary Schools – 1.7% | Secondary Schools – 1.7% | Secondary Schools – 1.7% |
| District of Columbia Rev. (Rocketship D.C.), "A", 5%, 6/01/2056 (n) | $&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$259423 |
| Lowell, MA, Collegiate Charter School Rev., 5%, 6/15/2039 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972656 |
| Lowell, MA, Collegiate Charter School Rev., 5%, 6/15/2054 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902167 |
| Massachusetts Development Finance Agency Rev. (Dexter Southfield), 5%, 5/01/2030 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520837 |
| Massachusetts Development Finance Agency Rev. (Dexter Southfield), 5%, 5/01/2031 | 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056909 |
| Massachusetts Development Finance Agency Rev. (Foxborough Regional Charter School), "B", 5%, 7/01/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002331 |
| Massachusetts Development Finance Agency Rev. (Roxbury Latin School), "A", 3.5%, 7/01/2044 | &nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231927 |
| Massachusetts Development Finance Agency Rev. (Sabis International Charter School Issue), 5%, 4/15/2033 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030724 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$6976974 |
| Single Family Housing - State – 2.8% | Single Family Housing - State – 2.8% | Single Family Housing - State – 2.8% |
| Connecticut Housing Finance Authority Rev. (Housing Mortgage Finance Program), "C-1", 4%, 11/15/2047 | $&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$630059 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "206", 3.3%, 6/01/2034 | &nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346289 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "206", 3.45%, 12/01/2036 | &nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451503 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "215", GNMA, 4%, 12/01/2050 | 2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658159 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "220", GNMA, 5%, 6/01/2029 | &nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111769 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "220", GNMA, 1.35%, 12/01/2029 | &nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351633 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "222", GNMA, 3%, 6/01/2051 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963011 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "225", 5.5%, 12/01/2052 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4294292 |
| Massachusetts Housing Finance Agency, Single Family Housing Rev., "214", GNMA, 2.95%, 12/01/2044 | 1865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434573 |
|  |  | &nbsp;&nbsp;&nbsp;$11241288 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| State & Local Agencies – 0.9% | State & Local Agencies – 0.9% | State & Local Agencies – 0.9% |
| Commonwealth of Pennsylvania, Tobacco Master Settlement Financing Authority Rev., 5%, 6/01/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$81325 |
| Commonwealth of Pennsylvania, Tobacco Master Settlement Financing Authority Rev., 5%, 6/01/2033 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64891 |
| Commonwealth of Pennsylvania, Tobacco Master Settlement Financing Authority Rev., 5%, 6/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32322 |
| Delaware Valley, PA, Regional Finance Authority, "C", FLR, 3.94% (67% of LIBOR - 3mo. + 0.75%), 6/01/2037 | 1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101145 |
| Maryland Stadium Authority Rev., Baltimore City Public Schools Construction and Revitalization Program, "A", 5%, 5/01/2047 | &nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694169 |
| Massachusetts College Building Authority Project Refunding Rev., "A", 4%, 5/01/2037 | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255752 |
| Massachusetts College Building Authority Project Refunding Rev., "A", 4%, 5/01/2038 | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252328 |
| Massachusetts College Building Authority Project Rev., "A", 5%, 5/01/2031 (Prerefunded 5/01/2023) | &nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276809 |
| Massachusetts College Building Authority Project Rev., "A", 5%, 5/01/2032 (Prerefunded 5/01/2023) | &nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764999 |
| New Jersey Economic Development Authority Rev. (School Facilities Construction), 4%, 6/15/2034 | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65199 |
| New Jersey Economic Development Authority Rev. (School Facilities Construction), 4%, 6/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54317 |
| New Jersey Economic Development Authority Rev. (School Facilities Construction), 4%, 6/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3674824 |
| Student Loan Revenue – 4.4% | Student Loan Revenue – 4.4% | Student Loan Revenue – 4.4% |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 5%, 7/01/2029 | $1400000 | &nbsp;&nbsp;&nbsp;&nbsp;$1498348 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 5%, 7/01/2030 | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402934 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "B", 2%, 7/01/2037 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2485732 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 4.125%, 7/01/2046 | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937859 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "C", 3.75%, 7/01/2047 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3286467 |
| Massachusetts Educational Financing Authority, Education Loan Rev., "J", 3.5%, 7/01/2033 | &nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329820 |
| Massachusetts Educational Financing Authority, Education Loan Rev., Issue M, "B", 5%, 7/01/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100180 |
| Massachusetts Educational Financing Authority, Education Loan Subordinate Rev., "C", 3%, 7/01/2051 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313946 |
| Massachusetts Educational Financing Authority, Education Loan Subordinate Rev., "C", 4.125%, 7/01/2052 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456216 |
| Minnesota Office of Higher Education Supplemental Student Loan Program Rev., 2.65%, 11/01/2038 | &nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159731 |
| New Jersey Higher Education Student Assistance Authority, Senior Student Loan Rev., "B", 4%, 12/01/2041 | 1710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684639 |
|  |  | &nbsp;&nbsp;&nbsp;$17655872 |
| Tax - Other – 0.6% | Tax - Other – 0.6% | Tax - Other – 0.6% |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2035 | $&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$229797 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2036 | &nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122225 |
| Guam Government Limited Obligation Rev., "A", 5%, 12/01/2046 | &nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370376 |
| Massachusetts Special Obligation Dedicated Tax Rev., 5.5%, 1/01/2023 | 1585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585000 |
| Wisconsin Public Finance Authority Limited Obligation PILOT Rev. (American Dream at Meadowlands Project), 7%, 12/01/2050 | &nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2492310 |
| Tax Assessment – 0.0% | Tax Assessment – 0.0% | Tax Assessment – 0.0% |
| Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 4%, 7/01/2029 | $&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24166 |
| Brunswick, MD, Special Obligation Refunding (Brunswick Crossing Special Taxing District), 5%, 7/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32083 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56249 |
| Tobacco – 0.3% | Tobacco – 0.3% | Tobacco – 0.3% |
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Taxable, "B-1", 3.85%, 6/01/2050 | $1485000 | &nbsp;&nbsp;&nbsp;&nbsp;$1312941 |
| Toll Roads – 1.1% | Toll Roads – 1.1% | Toll Roads – 1.1% |
| Massachusetts Department of Transportation, Metropolitan Highway System Refunding Rev., Subordinated Contract Assistance, 5%, 1/01/2037 | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;$1090521 |
| Massachusetts Department of Transportation, Metropolitan Highway System Rev., "C", 5%, 1/01/2035 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$4407304 |
| Transportation - Special Tax – 2.8% | Transportation - Special Tax – 2.8% | Transportation - Special Tax – 2.8% |
| Commonwealth of Massachusetts Transportation Fund Rev. (Rail Enhancement & Accelerated Bridge Programs), "A", 5%, 6/01/2036 | $2850000 | &nbsp;&nbsp;&nbsp;&nbsp;$3013448 |
| Commonwealth of Massachusetts Transportation Fund Rev. (Rail Enhancement & Accelerated Bridge Programs), "A", 5%, 6/01/2042 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3164584 |
| HTA CL-6, TR CTFS CL-2031 Units, 5.25%, 7/01/2031 | &nbsp;&nbsp;&nbsp;822361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811436 |
| Massachusetts Transportation Fund Rev. (Rail Enhancement Program), "B", 5%, 6/01/2052 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241932 |
| New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Rev., "A-1", 5%, 6/15/2027 | &nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443652 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Transportation - Special Tax – continued | Transportation - Special Tax – continued | Transportation - Special Tax – continued |
| New Jersey Transportation Trust Fund Authority, Transportation Program, "A", 5%, 12/15/2039 | $&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$233326 |
| New Jersey Transportation Trust Fund Authority, Transportation Program, "BB", 5%, 6/15/2044 | &nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223757 |
|  |  | &nbsp;&nbsp;&nbsp;$11132135 |
| Universities - Colleges – 19.7% | Universities - Colleges – 19.7% | Universities - Colleges – 19.7% |
| Connecticut Health & Educational Facilities Authority Rev. (Connecticut College Issue), "M", 3%, 7/01/2047 | $2830000 | &nbsp;&nbsp;&nbsp;&nbsp;$2010257 |
| Massachusetts Development Finance Agency Refunding Rev. (Brandeis University), "S-1", 5%, 10/01/2038 | &nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650922 |
| Massachusetts Development Finance Agency Refunding Rev. (Brandeis University), "S-1", 5%, 10/01/2040 | 2665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2846317 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2035 | &nbsp;&nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011838 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2036 | &nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872826 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2037 | &nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644857 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 5%, 7/01/2038 | &nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349689 |
| Massachusetts Development Finance Agency Refunding Rev. (Suffolk University), 4%, 7/01/2039 | 3055000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2741266 |
| Massachusetts Development Finance Agency Refunding Rev. (Wellesley College), "M", 4%, 7/01/2036 | 1985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034617 |
| Massachusetts Development Finance Agency Rev. (Babson College), 4%, 10/01/2044 | &nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647634 |
| Massachusetts Development Finance Agency Rev. (Bentley University), 5%, 7/01/2040 | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544699 |
| Massachusetts Development Finance Agency Rev. (Brandeis University), "R", 5%, 10/01/2038 | &nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896045 |
| Massachusetts Development Finance Agency Rev. (Brandeis University), "S-1", 5%, 10/01/2039 | 2660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2851610 |
| Massachusetts Development Finance Agency Rev. (Emerson College), 5%, 1/01/2043 | &nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728237 |
| Massachusetts Development Finance Agency Rev. (Emerson College), 5%, 1/01/2048 | 2845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827995 |
| Massachusetts Development Finance Agency Rev. (Emerson College), "A", 5.25%, 1/01/2042 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027921 |
| Massachusetts Development Finance Agency Rev. (Emmanuel College), "A", 5%, 10/01/2043 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001333 |
| Massachusetts Development Finance Agency Rev. (Emmanuel College), "A", 4%, 10/01/2046 | 1375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158059 |
| Massachusetts Development Finance Agency Rev. (Lasell University), 4%, 7/01/2045 | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189472 |
| Massachusetts Development Finance Agency Rev. (Lesley University), "A", 5%, 7/01/2044 | 2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244885 |
| Massachusetts Development Finance Agency Rev. (Merrimack College), 5%, 7/01/2047 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980051 |
| Massachusetts Development Finance Agency Rev. (Merrimack College), 5%, 7/01/2052 | 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2226194 |
| Massachusetts Development Finance Agency Rev. (Merrimack University), "B", 4%, 7/01/2042 | &nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409305 |
| Massachusetts Development Finance Agency Rev. (Merrimack University), "B", 4%, 7/01/2050 | 1825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474380 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), 5%, 10/01/2044 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207938 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), "A", 5%, 10/01/2031 | 2330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2682890 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), "A", 5%, 10/01/2033 | &nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030364 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), "A", 5%, 10/01/2034 | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568658 |
| Massachusetts Development Finance Agency Rev. (Northeastern University), "A", 5%, 10/01/2035 | 1555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1755673 |
| Massachusetts Development Finance Agency Rev. (Simmons University), "L", 5%, 10/01/2035 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065220 |
| Massachusetts Development Finance Agency Rev. (Simmons University), "M", 5%, 10/01/2045 | &nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725437 |
| Massachusetts Development Finance Agency Rev. (Simmons Unversity), "H", SYNCORA, 5.25%, 10/01/2026 | 1850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910523 |
| Massachusetts Development Finance Agency Rev. (Springfield College), "A", 4%, 6/01/2056 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382678 |
| Massachusetts Development Finance Agency Rev. (Suffolk University), 4%, 7/01/2046 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835962 |
| Massachusetts Development Finance Agency Rev. (Suffolk University), 4%, 7/01/2051 | 1385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120509 |
| Massachusetts Development Finance Agency Rev. (Wentworth Institute of Technology), 5%, 10/01/2046 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020239 |
| Massachusetts Development Finance Agency Rev. (Western New England University), 5%, 9/01/2031 | 1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133858 |
| Massachusetts Development Finance Agency Rev. (Western New England University), AGM, 5%, 9/01/2038 | 2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2712496 |
| Massachusetts Development Finance Agency Rev. (Worcester Polytechnic Institute), 5%, 9/01/2038 | &nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909450 |
| Massachusetts Development Finance Agency Rev. (Worcester Polytechnic Institute), 5%, 9/01/2039 | &nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995039 |
| Massachusetts Development Finance Agency Rev. (Worcester Polytechnic Institute), 5%, 9/01/2047 | 1395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429582 |
| Massachusetts Health & Educational Facilities Authority Rev. (Boston College), 5.5%, 6/01/2027 | 1735000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941805 |
| Massachusetts Health & Educational Facilities Authority Rev. (Massachusetts Institute of Technology), "I-1", 5.2%, 1/01/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125335 |
| Massachusetts Health & Educational Facilities Authority Rev. (University of Massachusetts), "A", 2.45%, 11/01/2030 (Put Date 4/01/2026) | 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437515 |
| Massachusetts Health & Educational Facilities Authority Rev. (Williams College), "I", 0.7%, 7/01/2033 (Put Date 7/01/2025) | 2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412061 |
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Educational Facilities Rev. (University Plaza Project), NPFG, 5%, 7/01/2033 | &nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282974 |
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Higher Education Rev. (University of Sacred Heart), 4.375%, 10/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75062 |
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority, Higher Education Rev. (University of Sacred Heart), 5%, 10/01/2042 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90177 |
| Red River, TX, Education Finance Corp., Higher Education Rev. (Houston Baptist University Project), 5.5%, 10/01/2046 | &nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475975 |
| University of Massachusetts Building Authority Project Senior Rev., "1", 5%, 11/01/2037 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101070 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Municipal Bonds – continued | Municipal Bonds – continued | Municipal Bonds – continued |
| Universities - Colleges – continued | Universities - Colleges – continued | Universities - Colleges – continued |
| University of Massachusetts Building Authority Project Senior Rev., "1", 5%, 11/01/2040 | $2500000 | &nbsp;&nbsp;&nbsp;$2611866 |
| University of Massachusetts Building Authority Senior Refunding Rev., "2019-1", 5%, 5/01/2039 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3243285 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$78654050 |
| Utilities - Municipal Owned – 1.8% | Utilities - Municipal Owned – 1.8% | Utilities - Municipal Owned – 1.8% |
| Guam Power Authority Rev., "A", AGM, 5%, 10/01/2039 | $&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;$205507 |
| Guam Power Authority Rev., "A", AGM, 5%, 10/01/2044 | &nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240944 |
| Massachusetts Municipal Wholesale Electric Co., "A", 4%, 7/01/2046 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851591 |
| Massachusetts Municipal Wholesale Electric Co., "A", 4%, 7/01/2051 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810910 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2020 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2021 (a)(d) | &nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226800 |
| Puerto Rico Electric Power Authority Refunding Rev., "DDD", 5%, 7/01/2022 (a)(d) | &nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367200 |
| Puerto Rico Electric Power Authority Rev., "A", 5%, 7/01/2029 (a)(d) | &nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584000 |
| Puerto Rico Electric Power Authority Rev., "A", 5%, 7/01/2042 (a)(d) | &nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91250 |
| Puerto Rico Electric Power Authority Rev., "AAA", 5.25%, 7/01/2021 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46962 |
| Puerto Rico Electric Power Authority Rev., "AAA", 5.25%, 7/01/2030 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21975 |
| Puerto Rico Electric Power Authority Rev., "CCC", 5.25%, 7/01/2027 (a)(d) | &nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219750 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2021 (a)(d) | &nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108000 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2023 (a)(d) | &nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98550 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2027 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18250 |
| Puerto Rico Electric Power Authority Rev., "TT", 5%, 7/01/2037 (a)(d) | &nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302950 |
| Puerto Rico Electric Power Authority Rev., "VV", NPFG, 5.25%, 7/01/2029 | &nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221200 |
| Puerto Rico Electric Power Authority Rev., "VV", NPFG, 5.25%, 7/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34839 |
| Puerto Rico Electric Power Authority Rev., "WW", 5.375%, 7/01/2022 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21788 |
| Puerto Rico Electric Power Authority Rev., "WW", 5.25%, 7/01/2025 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47612 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5%, 7/01/2018 (a)(d) | &nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140400 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2023 (a)(d) | &nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161150 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2024 (a)(d) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54937 |
| Puerto Rico Electric Power Authority Rev., "ZZ", 5.25%, 7/01/2026 (a)(d) | &nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168475 |
| Puerto Rico Electric Power Authority Rev., Taxable, "EEE", 6.05%, 7/01/2032 (a)(d) | &nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138225 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7208465 |
| Utilities - Other – 0.3% | Utilities - Other – 0.3% | Utilities - Other – 0.3% |
| Tennergy Corp., TN, Gas Supply Rev., "A", 5.5%, 10/01/2053 (Put Date 12/01/2030) | $1270000 | &nbsp;&nbsp;&nbsp;$1343520 |
| Water & Sewer Utility Revenue – 3.0% | Water & Sewer Utility Revenue – 3.0% | Water & Sewer Utility Revenue – 3.0% |
| Guam Waterworks Authority Rev. (Water and Wastewater System), "A", 5%, 1/01/2050 | $&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;$450942 |
| Massachusetts Clean Water Trust, State Revolving Fund, 5%, 8/01/2038 | 1255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379445 |
| Massachusetts Clean Water Trust, State Revolving Fund, 5%, 8/01/2039 | &nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596782 |
| Massachusetts Water Pollution Abatement Trust, 5.25%, 8/01/2027 | 1280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1428915 |
| Massachusetts Water Pollution Abatement Trust, 5.25%, 8/01/2033 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2448181 |
| Massachusetts Water Pollution Abatement Trust (MWRA Program), "A", 5%, 8/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75122 |
| Massachusetts Water Resources Authority, General Refunding Rev. (Green Bonds), "C", 4%, 8/01/2040 | 2910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850286 |
| Massachusetts Water Resources Authority, General Rev., "B", AGM, 5.25%, 8/01/2029 | &nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687751 |
| Massachusetts Water Resources Authority, General Rev., "B", AGM, 5.25%, 8/01/2031 | 1625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937199 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;$11854623 |
| **Total Municipal Bonds** |  | &nbsp;&nbsp;**$379535561** |
| Bonds – 0.2% | Bonds – 0.2% | Bonds – 0.2% |
| Consumer Services – 0.2% | Consumer Services – 0.2% | Consumer Services – 0.2% |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2025 (n) | $&nbsp;&nbsp;&nbsp;581000 | &nbsp;&nbsp;&nbsp;$497744 |
| Toll Road Investors Partnership II LP, Capital Appreciation, NPFG, 0%, 2/15/2043 (n) | 1180997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299685 |
| **Total Bonds** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$797429** |
| Contingent Value Instruments – 0.1% | Contingent Value Instruments – 0.1% | Contingent Value Instruments – 0.1% |
| General Obligations - General Purpose – 0.1% | General Obligations - General Purpose – 0.1% | General Obligations - General Purpose – 0.1% |
| Commonwealth of Puerto Rico, General Obligation Contingent Value Instrument, 11/01/2043 | $&nbsp;&nbsp;&nbsp;680313 | &nbsp;&nbsp;&nbsp;$297637 |

---

------

Portfolio of Investments (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | &nbsp;&nbsp;&nbsp;**Value ($)** |
| Investment Companies (h) – 2.9% | Investment Companies (h) – 2.9% | Investment Companies (h) – 2.9% |
| Money Market Funds – 2.9% | Money Market Funds – 2.9% |  |
| MFS Institutional Money Market Portfolio, 4.02% (v) | 11589295 | &nbsp;&nbsp;&nbsp;$11592772 |
| Other Assets, Less Liabilities – 1.6% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6212697 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp;&nbsp;**$398436096** |

---

(a) Non-income producing security.

(d) In default.

(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end,
the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $11,592,772 and $380,630,627, respectively.

(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from
registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $6,846,642, representing 1.7% of net assets.

(v) Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized
seven-day yield of the fund at period end.

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| AAC | Ambac Assurance Corp. |
| AGM | Assured Guaranty Municipal |
| ETM | Escrowed to Maturity |
| FHA | Federal Housing Administration |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted. |
| GNMA | Government National Mortgage Assn. |
| LIBOR | London Interbank Offered Rate |
| LOC | Letter of Credit |
| NPFG | National Public Finance Guarantee Corp. |
| SYNCORA | Syncora Guarantee Inc. |

---

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

### Supplemental Information
12/31/22 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

(1) Investment Valuations

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. Effective September 8, 2022, and in accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less may be valued at amortized cost, which approximates market value. Open-end investment companies are generally valued at net asset value per share.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. The following is a summary of the levels used as of December 31, 2022 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$379833198 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$379833198 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797429 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797429 |
| Mutual Funds | &nbsp;&nbsp;&nbsp;&nbsp;11592772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11592772 |
| Total | &nbsp;&nbsp;&nbsp;$11592772 | &nbsp;&nbsp;&nbsp;$380630627 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$392223399 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

(2) Investments in Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Beginning<br> Value** | &nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;**Sales<br> Proceeds** | &nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation or<br> Depreciation** | &nbsp;&nbsp;**Ending<br> Value** |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;$22571623 | &nbsp;&nbsp;$187454073 | &nbsp;&nbsp;$198432559 | &nbsp;&nbsp;$(3286) | &nbsp;&nbsp;$2921 | &nbsp;&nbsp;$11592772 |

---

------

Supplemental Information (unaudited) – continued

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | &nbsp;&nbsp;**Dividend<br> Income** | &nbsp;&nbsp;**Capital Gain<br> Distributions** |
| MFS Institutional Money Market Portfolio | &nbsp;&nbsp;$249766 | &nbsp;&nbsp;$— |

---

(3) Jurisdiction Weightings

Jurisdiction weighting percentages based on net assets, as of December 31, 2022, are as follows:

---

| | |
|:---|:---|
| Massachusetts | 84.2% |
| Puerto Rico | 3.8% |
| California | 2.1% |
| Illinois | 1.3% |
| New York | 0.7% |
| Texas | 0.7% |
| Pennsylvania | 0.7% |
| New Jersey | 0.7% |
| Connecticut | 0.7% |
| Guam | 0.5% |
| Tennessee | 0.3% |
| New Hampshire | 0.3% |
| Wisconsin | 0.2% |
| Virginia | 0.2% |
| Maryland | 0.2% |
| Colorado | 0.1% |
| Washington DC | 0.1% |

---

The jurisdiction weighting percentages include both accrued interest amounts and equivalent exposure from any derivatives holdings, if applicable.

(4) Russia and Ukraine Conflict

The market disruptions, which began in late February 2022, associated with geopolitical events related to the conflict between Russia and Ukraine may adversely affect the value of the fund's assets and thus the fund's performance. Management continues to monitor these events and to evaluate the related impacts, if any, to the fund.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Municipal Series Trust

- **b. Investment Company Act file number:** 811-04096

- **c. CIK number of Registrant:** 0000751656

- **d. LEI of Registrant:** 5493001Q9KE7H84Z5340

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Massachusetts Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000002534

- **c. LEI of Series:** MI3C3CKY7VNRDNDWCO87

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $406262162.15

**Total Liabilities:** $7826075.47

**Net Assets:** $398436086.68

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -599.28577280 | **1-Year:** -13565.63683070 | **5-Year:** -68310.39835140 | **10-Year:** -124968.72935800 | **30-Year:** -37871.73080740

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

- **3-Month:** -127.28247220 | **1-Year:** -934.43163350 | **5-Year:** -3658.42510510 | **10-Year:** -7837.91433100 | **30-Year:** -2959.98746260

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169770 | -1.16%               | 5.68%                | -0.28%               |
| Class ID C000006988 | -1.27%               | 5.65%                | -0.40%               |
| Class ID C000194250 | -1.03%               | 5.68%                | -0.28%               |
| Class ID C000006987 | -1.11%               | 5.61%                | -0.23%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1103549.33             | $-4470555.29                               |
| Month 2  | $-940548.55              | $22065034.16                               |
| Month 3  | $-1043908.11             | $-1117306.39                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSK6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1616836.35   | 0.41%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QXP2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     75000 | PA      | $54937.50     | 0.01%             | 2024-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Collegiate Charter School of Lowell                                                                       | Collegiate Charter School of Lowell                                                                       | CUSIP: 547649AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $902166.80    | 0.23%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Norton MA                                                                                         | Town of Norton                                                                                            | CUSIP: 668673PG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $372327.24    | 0.09%             | 2025-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                  | Public Finance Authority                                                                                  | CUSIP: 74446EAC0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    360000 | PA      | $302499.58    | 0.08%             | 2024-08-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XGY1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1133857.90   | 0.28%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund                                                         | CUSIP: 57604TKD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3241932.00   | 0.81%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586N6N6<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1545058.60   | 0.39%             | 2044-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RSJ9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2485732.50   | 0.62%             | 2037-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065HDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    370000 | PA      | $370375.88    | 0.09%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 452153AU3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    595000 | PA      | $517014.72    | 0.13%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                                            | New Jersey Transportation Trust Fund Authority                                                            | CUSIP: 6461366M8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    225000 | PA      | $233326.37    | 0.06%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RRN1<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1402934.00   | 0.35%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                                               | Connecticut State Health & Educational Facilities Authority                                               | CUSIP: 20775DSQ6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2010256.54   | 0.50%             | 2047-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YA41<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1755673.06   | 0.44%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QKV3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     25000 | PA      | $18250.00     | 0.00%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YP94<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    400000 | PA      | $448704.72    | 0.11%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      5000 | PA      | $4262.82      | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1059000 | PA      | $689855.79    | 0.17%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896XY6<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1745765.78   | 0.44%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 74528NAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    290000 | PA      | $282974.17    | 0.07%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                                                   | Massachusetts Health & Educational Facilities Authority                                                   | CUSIP: 57586ER52<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2412061.08   | 0.61%             | 2033-07-01      | Variable      | 0.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YFK0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2845000 | PA      | $2827995.44   | 0.71%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Brunswick MD                                                                                      | City of Brunswick                                                                                         | CUSIP: 117250AE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     32000 | PA      | $32083.01     | 0.01%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508D88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492850.10    | 0.12%             | 2040-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521527E5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    950000 | PA      | $819878.88    | 0.21%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                                                  | MFS Institutional Money Market Portfolio, Class A                                                         | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |  11546453 | NS      | $11549916.88  | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                                            | New Jersey Transportation Trust Fund Authority                                                            | CUSIP: 6461365N7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    220000 | PA      | $223756.39    | 0.06%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YDJ5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002331.20   | 0.25%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896XX8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1102485.20   | 0.28%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | CUSIP: 575579HB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1642499.89   | 0.41%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896RR8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3687870.91   | 0.93%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RQA0<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1937858.63   | 0.49%             | 2046-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YP78<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    600000 | PA      | $663392.70    | 0.17%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XJ36<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020239.00   | 0.51%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587A3R7<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2658159.09   | 0.67%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YN21<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $189472.28    | 0.05%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YF53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956053.20    | 0.24%             | 2046-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896TL9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091351.00   | 0.52%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Tisbury MA                                                                                        | Town of Tisbury                                                                                           | CUSIP: 888240GE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3705482.50   | 0.93%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZN5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    510000 | PA      | $367200.00    | 0.09%             | 2022-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Norton MA                                                                                         | Town of Norton                                                                                            | CUSIP: 668673PF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $769920.72    | 0.19%             | 2024-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586YCC9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1190628.92   | 0.30%             | 2032-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XNN7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2326276.58   | 0.58%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                                                     | Toll Road Investors Partnership II LP                                                                     | CUSIP: 88948ABA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    581000 | PA      | $497744.36    | 0.12%             | 2025-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                                            | New Jersey Transportation Trust Fund Authority                                                            | CUSIP: 6461362B6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    420000 | PA      | $443652.34    | 0.11%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Georgetown MA                                                                                     | Town of Georgetown                                                                                        | CUSIP: 372838NT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $882699.02    | 0.22%             | 2032-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X8R5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    700000 | PA      | $755380.22    | 0.19%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YL56<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $835962.20    | 0.21%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts State College Building Authority                                                            | Massachusetts State College Building Authority                                                            | CUSIP: 5758324R8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252327.90    | 0.06%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896SQ9<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1525057.35   | 0.38%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax                                                      | CUSIP: 575579L70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1571480.58   | 0.39%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue                               | Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue                               | CUSIP: 57563CDX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1090521.60   | 0.27%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts State College Building Authority                                                            | Massachusetts State College Building Authority                                                            | CUSIP: 5758324Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255752.23    | 0.06%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RRM3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1498347.90   | 0.38%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YFJ3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    725000 | PA      | $728236.98    | 0.18%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584Y2D0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    700000 | PA      | $647634.40    | 0.16%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                                                     | Pennsylvania Economic Development Financing Authority                                                     | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1482775.09   | 0.37%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                                        | City of Chicago                                                                                           | CUSIP: 167486F87<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    170000 | PA      | $175922.14    | 0.04%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065NCN5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     20000 | PA      | $21267.15     | 0.01%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X4L2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1283314.25   | 0.32%             | 2037-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    156003 | PA      | $159624.27    | 0.04%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1120508.90   | 0.28%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     22000 | PA      | $16032.37     | 0.00%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QXU1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     65000 | PA      | $46962.50     | 0.01%             | 2021-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UJ82<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038758.50   | 0.26%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSB6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    340000 | PA      | $349688.54    | 0.09%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586NZ61<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $944710.70    | 0.24%             | 2038-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 57604PC51<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2448181.20   | 0.61%             | 2033-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582RSR8<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1420486.03   | 0.36%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RSK6<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1313946.20   | 0.33%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065NCP0<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     25000 | PA      | $26731.91     | 0.01%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YRY7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    970000 | PA      | $1011837.85   | 0.25%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YZY8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2682890.15   | 0.67%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2207937.60   | 0.55%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                                                            | Sales Tax Securitization Corp.                                                                            | CUSIP: 79467BCZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $52003.70     | 0.01%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                                                      | Guam Power Authority                                                                                      | CUSIP: 400653HP9<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | GU        |    235000 | PA      | $240943.90    | 0.06%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508G77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $760293.00    | 0.19%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSA8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    625000 | PA      | $644857.25    | 0.16%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                                                                  | Village of Bridgeview                                                                                     | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $625551.36    | 0.16%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GSH9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4294291.60   | 1.08%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QXR8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    230000 | PA      | $168475.00    | 0.04%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GEB7<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    400000 | PA      | $351633.36    | 0.09%             | 2029-12-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3E5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1901834 | PA      | $1901831.34   | 0.48%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508G93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $874993.81    | 0.22%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware Valley Regional Finance Authority                                                                | Delaware Valley Regional Finance Authority                                                                | CUSIP: 246579JK3<br>LEI: 549300HGYP3NW885TT18 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1101144.94   | 0.28%             | 2037-06-01      | Floating      | 3.94%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587A2Y3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1434572.92   | 0.36%             | 2044-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                                                          | Commonwealth Financing Authority                                                                          | CUSIP: 20282EAQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $32322.22     | 0.01%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                                                            | University of Massachusetts Building Authority                                                            | CUSIP: 914437TZ1<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3243285.00   | 0.81%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                                                            | Sales Tax Securitization Corp.                                                                            | CUSIP: 79467BCY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $77118.86     | 0.02%             | 2038-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Anaheim City School District                                                                              | Anaheim City School District                                                                              | CUSIP: 032555QY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1241148.73   | 0.31%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XMU2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036858.40   | 0.26%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YUY3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    125000 | PA      | $136450.06    | 0.03%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                                                      | Guam Power Authority                                                                                      | CUSIP: 400653HN4<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | GU        |    200000 | PA      | $205507.00    | 0.05%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YVM8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    865000 | PA      | $909450.45    | 0.23%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Brockton MA                                                                                       | City of Brockton                                                                                          | CUSIP: 111746LA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3709019.20   | 0.93%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HTA CL 6 Trust                                                                                            | HTA CL 6 Trust                                                                                            | CUSIP: 40440SAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    822361 | PA      | $811435.93    | 0.20%             | 2031-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                                                     | Connecticut Housing Finance Authority, Series 2017, Sub-series C-1                                        | CUSIP: 20775CTX2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    630000 | PA      | $630059.09    | 0.16%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Brunswick MD                                                                                      | City of Brunswick                                                                                         | CUSIP: 117250AD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24166.29     | 0.01%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XJG7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523778.00   | 0.38%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YQK8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2080000 | PA      | $1759273.57   | 0.44%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    635000 | PA      | $676761.41    | 0.17%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     73000 | PA      | $66971.51     | 0.02%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Town of Ashland MA                                                                                        | Town of Ashland                                                                                           | CUSIP: 044357WF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1834036.80   | 0.46%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJS9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053834.70   | 0.26%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZM7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    315000 | PA      | $226800.00    | 0.06%             | 2021-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GJG1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963011.30    | 0.24%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Town of Ashland MA                                                                                        | Town of Ashland                                                                                           | CUSIP: 044357WH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1950627.29   | 0.49%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    680314 | PA      | $297637.22    | 0.07%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032UB49<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2555714.62   | 0.64%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                                                   | Massachusetts Water Resources Authority                                                                   | CUSIP: 576049W22<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |    595000 | PA      | $687751.46    | 0.17%             | 2029-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority, Series WW                                                           | CUSIP: 74526QUY6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     30000 | PA      | $21787.50     | 0.01%             | 2022-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| City of Framingham MA                                                                                     | City of Framingham                                                                                        | CUSIP: 351695CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1250112.67   | 0.31%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                                                        | San Marcos Unified School District                                                                        | CUSIP: 798755ER1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $1530723.49   | 0.38%             | 2038-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority                                                  | New Jersey Higher Education Student Assistance Authority                                                  | CUSIP: 646080WP2<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1684638.99   | 0.42%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YUW7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    100000 | PA      | $112106.40    | 0.03%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 575829FQ4<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |    545000 | PA      | $596781.59    | 0.15%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YWG0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    485000 | PA      | $441931.61    | 0.11%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UN79<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2010614.20   | 0.50%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                                                  | New Hampshire Business Finance Authority                                                                  | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1117250 | PA      | $1078834.03   | 0.27%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YA33<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $568658.30    | 0.14%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQB4<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      8000 | PA      | $7462.55      | 0.00%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575898DQ1<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2073281.00   | 0.52%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence MA                                                                                       | City of Lawrence                                                                                          | CUSIP: 520229BT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1190055.38   | 0.30%             | 2034-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                                                                 | Golden State Tobacco Securitization Corp.                                                                 | CUSIP: 38122ND82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1312940.92   | 0.33%             | 2050-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YMB2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065219.60   | 0.52%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJV2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3615000 | PA      | $3673533.72   | 0.92%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508D70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494287.00    | 0.12%             | 2039-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896XV2<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    620000 | PA      | $672841.67    | 0.17%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YUX5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    100000 | PA      | $109395.19    | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                                                          | Commonwealth Financing Authority                                                                          | CUSIP: 20282EAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $81324.79     | 0.02%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Beaumont Navigation District                                                                         | Port Beaumont Navigation District                                                                         | CUSIP: 73360CAC8<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    500000 | PA      | $401341.60    | 0.10%             | 2035-01-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XJF9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1851747.65   | 0.46%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587AR26<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    485000 | PA      | $451502.60    | 0.11%             | 2036-12-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2244885.08   | 0.56%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XPY1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001333.40   | 0.50%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZL9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     35000 | PA      | $25200.00     | 0.01%             | 2020-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence MA                                                                                       | City of Lawrence                                                                                          | CUSIP: 520229BC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2238685.20   | 0.56%             | 2049-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YX53<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2382678.30   | 0.60%             | 2056-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YPD5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2665000 | PA      | $2846316.74   | 0.71%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QKR2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    135000 | PA      | $98550.00     | 0.02%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QPS5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     35000 | PA      | $34838.72     | 0.01%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                  | Public Finance Authority                                                                                  | CUSIP: 74446HAD1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    225000 | PA      | $184912.38    | 0.05%             | 2050-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RTE9<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2456216.40   | 0.62%             | 2052-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                                                            | Sales Tax Securitization Corp.                                                                            | CUSIP: 79467BDA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $81792.60     | 0.02%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582RQN9<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3165193.20   | 0.79%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UQ84<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    265000 | PA      | $231927.39    | 0.06%             | 2044-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XD65<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2027921.40   | 0.51%             | 2042-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority, Series WW                                                           | CUSIP: 74526QVB5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     65000 | PA      | $47612.50     | 0.01%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YMD8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2712495.95   | 0.68%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RQV4<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3286466.80   | 0.82%             | 2047-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                                 | New Jersey Economic Development Authority                                                                 | CUSIP: 64577XCL8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     55000 | PA      | $54316.58     | 0.01%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584Y2H1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1985000 | PA      | $2034616.66   | 0.51%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YUZ0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    175000 | PA      | $190040.22    | 0.05%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XNY3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1728314.84   | 0.43%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of West Springfield MA                                                                               | Town of West Springfield                                                                                  | CUSIP: 956109PU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1429250.47   | 0.36%             | 2032-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YP86<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1868303.71   | 0.47%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YN70<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1474379.54   | 0.37%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YGN3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080902.10   | 0.27%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                                       | State of California                                                                                       | CUSIP: 13063DUD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1451978.52   | 0.36%             | 2036-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896VG7<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3084068.40   | 0.77%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                                         | City & County of Denver                                                                                   | CUSIP: 249182QW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $237967.01    | 0.06%             | 2047-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582RLZ7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1074434.00   | 0.27%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                                                   | Massachusetts Health & Educational Facilities Authority                                                   | CUSIP: 57586EGS4<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3437515.20   | 0.86%             | 2030-11-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| City of Framingham MA                                                                                     | City of Framingham                                                                                        | CUSIP: 351695CD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1180567.79   | 0.30%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 576002BF5<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1585000.00   | 0.40%             | 2023-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QYD8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     30000 | PA      | $21975.00     | 0.01%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTH2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    700000 | PA      | $738483.41    | 0.19%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    280000 | PA      | $288983.16    | 0.07%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586YCB1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1425820.80   | 0.36%             | 2030-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YLH0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    835000 | PA      | $896044.51    | 0.22%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZZ8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    800000 | PA      | $584000.00    | 0.15%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 575829FP6<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1379445.17   | 0.35%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YT90<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $475301.35    | 0.12%             | 2031-01-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Town of West Springfield MA                                                                               | Town of West Springfield                                                                                  | CUSIP: 956109PV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1413952.04   | 0.35%             | 2033-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Municipal Wholesale Electric Co.                                                            | Massachusetts Municipal Wholesale Electric Co.                                                            | CUSIP: 575766AV2<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1810910.00   | 0.45%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    282284 | PA      | $237567.02    | 0.06%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                                                  | Public Finance Authority                                                                                  | CUSIP: 74446EAA4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    585000 | PA      | $481793.95    | 0.12%             | 2027-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896XW0<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548130.85    | 0.14%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YSC4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $253665.13    | 0.06%             | 2033-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896SP1<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3070068.00   | 0.77%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X8V6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3379278.35   | 0.85%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584Y4J5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2226193.92   | 0.56%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts State College Building Authority                                                            | Massachusetts State College Building Authority                                                            | CUSIP: 575832XD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    760000 | PA      | $764999.20    | 0.19%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508H27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $687597.67    | 0.17%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YPC7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2851609.91   | 0.72%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508D96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $290046.51    | 0.07%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XM81<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3055000 | PA      | $2741265.86   | 0.69%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575898DP3<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041061.30   | 0.26%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                                                | Chicago Board of Education                                                                                | CUSIP: 167505YC4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1025583.93   | 0.26%             | 2047-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                                                            | Tennergy Corp.                                                                                            | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1343519.92   | 0.34%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority                                                                                | Maryland Stadium Authority                                                                                | CUSIP: 574296DQ9<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |    665000 | PA      | $694169.56    | 0.17%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586N6M8<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $812370.30    | 0.20%             | 2039-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YGQ6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065785.40   | 0.27%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065NCM7<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     25000 | PA      | $26407.62     | 0.01%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Collegiate Charter School of Lowell                                                                       | Collegiate Charter School of Lowell                                                                       | CUSIP: 547649AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $972656.00    | 0.24%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                                 | New Jersey Economic Development Authority                                                                 | CUSIP: 64577XCS3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     35000 | PA      | $31567.60     | 0.01%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GQY4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3118073.40   | 0.78%             | 2057-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XFP1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087100.60   | 0.52%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YVN6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    950000 | PA      | $995038.65    | 0.25%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts State College Building Authority                                                            | Massachusetts State College Building Authority                                                            | CUSIP: 575832XC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $276808.92    | 0.07%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XQ87<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980050.60    | 0.25%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    101000 | PA      | $87626.61     | 0.02%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                                                      | Guam Government Waterworks Authority                                                                      | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    455000 | PA      | $450941.99    | 0.11%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587AQ92<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    365000 | PA      | $346289.04    | 0.09%             | 2034-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UXN3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027609.20   | 0.26%             | 2043-11-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YYL7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    725000 | PA      | $725436.67    | 0.18%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 745272GF5<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     75000 | PA      | $75061.50     | 0.02%             | 2031-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                                                   | Massachusetts Health & Educational Facilities Authority                                                   | CUSIP: 57586CS71<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1941804.89   | 0.49%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XPZ8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1158059.38   | 0.29%             | 2046-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RTC3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1100179.50   | 0.28%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582NXN0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2527328.33   | 0.63%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YN62<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    475000 | PA      | $409305.46    | 0.10%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Office of Higher Education                                                                      | Minnesota Office of Higher Education                                                                      | CUSIP: 60416MBS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $159731.23    | 0.04%             | 2038-11-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896YK5<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3055000 | PA      | $3129841.39   | 0.79%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QZS4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    190000 | PA      | $138225.00    | 0.03%             | 2032-07-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YC23<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    450000 | PA      | $485943.30    | 0.12%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586PVB9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1035648.43   | 0.26%             | 2049-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1127760.53   | 0.28%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Framingham MA                                                                                     | City of Framingham                                                                                        | CUSIP: 351695CE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1213886.89   | 0.30%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lawrence MA                                                                                       | City of Lawrence                                                                                          | CUSIP: 520229CD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1587121.46   | 0.40%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065HDT4<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    225000 | PA      | $229797.25    | 0.06%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508G85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $829236.67    | 0.21%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    117000 | PA      | $94655.06     | 0.02%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896ZA6<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   3455000 | PA      | $3608730.23   | 0.91%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    158576 | PA      | $161567.89    | 0.04%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                                                            | University of Massachusetts Building Authority                                                            | CUSIP: 914440QM7<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2611865.75   | 0.66%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3F2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    160025 | PA      | $161231.30    | 0.04%             | 2025-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YT74<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    900000 | PA      | $718072.02    | 0.18%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YA25<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    900000 | PA      | $1030364.10   | 0.26%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                                                   | Massachusetts Health & Educational Facilities Authority                                                   | CUSIP: 57585JVZ1<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1125335.40   | 0.28%             | 2028-01-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                                                      | District of Columbia                                                                                      | CUSIP: 25483VUX0<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    290000 | PA      | $259422.63    | 0.07%             | 2056-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584X2E0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1429582.33   | 0.36%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XEF4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $520837.25    | 0.13%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1011000 | PA      | $588102.04    | 0.15%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57587GEA9<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    100000 | PA      | $111768.91    | 0.03%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QKX9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    415000 | PA      | $302950.00    | 0.08%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521527F2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    595000 | PA      | $507248.86    | 0.13%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 745272GG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     90000 | PA      | $90176.96     | 0.02%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Department of Transportation                                                                | Massachusetts Department of Transportation                                                                | CUSIP: 576018AL9<br>LEI: 549300CGDCL8XZK3KN03 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1262271.04   | 0.32%             | 2029-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    300000 | PA      | $219750.00    | 0.06%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YQJ1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1936679.00   | 0.49%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                                                   | Massachusetts Water Resources Authority                                                                   | CUSIP: 576049W48<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1937199.06   | 0.49%             | 2031-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp.                                                                            | Sales Tax Securitization Corp.                                                                            | CUSIP: 79467BCT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $295140.70    | 0.07%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583F3Q2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1795665.53   | 0.45%             | 2023-12-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    110848 | PA      | $90680.99     | 0.02%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   9313000 | PA      | $2294645.90   | 0.58%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                                                        | City of Chicago                                                                                           | CUSIP: 167486F46<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    535000 | PA      | $545285.96    | 0.14%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583UC48<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007100.80   | 0.25%             | 2043-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    150711 | PA      | $118006.47    | 0.03%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QPM8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    220000 | PA      | $221199.79    | 0.06%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    445000 | PA      | $400872.95    | 0.10%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | CUSIP: 575579QA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $2143516.56   | 0.54%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57583RJF3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1910522.75   | 0.48%             | 2026-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue                               | Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue                               | CUSIP: 57563CFK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3316782.90   | 0.83%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YWH8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    525000 | PA      | $534623.83    | 0.13%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | Massachusetts Bay Transportation Authority Sales Tax Revenue                                              | CUSIP: 575579QC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2394919.40   | 0.60%             | 2031-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2053000 | PA      | $1863980.29   | 0.47%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Municipal Wholesale Electric Co.                                                            | Massachusetts Municipal Wholesale Electric Co.                                                            | CUSIP: 575766AU4<br>LEI: 549300CFLHW0OYBX9C89 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1851591.20   | 0.46%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57585AAC4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    450611 | PA      | $45061.15     | 0.01%             | 2037-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YVB2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    400000 | PA      | $428959.36    | 0.11%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YC98<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4150000 | PA      | $3783359.12   | 0.95%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                                                            | University of Massachusetts Building Authority                                                            | CUSIP: 914440RX2<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101070.50   | 0.28%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Attleboro MA                                                                                      | City of Attleboro                                                                                         | CUSIP: 0498438K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8800000 | PA      | $8939206.32   | 2.24%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YGP8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077943.80   | 0.27%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065HDU1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    120000 | PA      | $122224.63    | 0.03%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508E38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1128939.30   | 0.28%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XKJ9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544698.95   | 0.39%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                                                         | Territory of Guam                                                                                         | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    255000 | PA      | $222235.10    | 0.06%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Red River Education Finance Corp.                                                                         | Red River Education Finance Corp.                                                                         | CUSIP: 756870BE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $475974.73    | 0.12%             | 2046-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XBA8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023748.30   | 0.26%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                                                     | Toll Road Investors Partnership II LP                                                                     | CUSIP: 88948ABM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1180997 | PA      | $299685.16    | 0.08%             | 2043-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    184909 | PA      | $99954.52     | 0.03%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                                                 | New Jersey Economic Development Authority                                                                 | CUSIP: 64577XCK0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65199.32     | 0.02%             | 2034-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp.                                                 | Harris County Cultural Education Facilities Finance Corp.                                                 | CUSIP: 414009RR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1845429.77   | 0.46%             | 2052-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue                             | Commonwealth of Massachusetts Federal Highway Grant Anticipation Note                                     | CUSIP: 57583PGB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6190782.00   | 1.55%             | 2024-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund Revenue                                                 | CUSIP: 57604TEC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $3013447.79   | 0.76%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QXN7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    220000 | PA      | $161150.00    | 0.04%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XM73<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    850000 | PA      | $872826.24    | 0.22%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue                                                         | City & County of Denver                                                                                   | CUSIP: 249182QY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $219169.13    | 0.06%             | 2053-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                                                      | Massachusetts Housing Finance Agency                                                                      | CUSIP: 57586NZ79<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2025000 | PA      | $1868311.17   | 0.47%             | 2043-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Woods Hole Marthas Vineyard & Nantucket Steamship Authority                                               | Woods Hole Marthas Vineyard & Nantucket Steamship Authority                                               | CUSIP: 980116LM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2735726.74   | 0.69%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1102167.45   | 0.28%             | 2039-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                                                          | Commonwealth Financing Authority                                                                          | CUSIP: 20282EAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $64890.96     | 0.02%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Ashland MA                                                                                        | Town of Ashland                                                                                           | CUSIP: 044357WG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $1894655.09   | 0.48%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New Bedford MA                                                                                    | City of New Bedford                                                                                       | CUSIP: 642170SB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4690501.00   | 1.18%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                                                                   | Massachusetts School Building Authority                                                                   | CUSIP: 576000WX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4257865.20   | 1.07%             | 2044-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                                             | Massachusetts Educational Financing Authority                                                             | CUSIP: 57563RNV7<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    345000 | PA      | $329819.66    | 0.08%             | 2033-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJU4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2855000 | PA      | $2921258.84   | 0.73%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YPB9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    605000 | PA      | $650921.86    | 0.16%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 57605ADT0<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75121.71     | 0.02%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YAH2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007694.60   | 0.25%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QA28<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    125000 | PA      | $91250.00     | 0.02%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                                                        | New York State Dormitory Authority                                                                        | CUSIP: 65000BNG9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2120000 | PA      | $1932983.78   | 0.49%             | 2052-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                                         | State of Illinois                                                                                         | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    255000 | PA      | $264847.41    | 0.07%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YVA4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    150000 | PA      | $162394.41    | 0.04%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QKP6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    150000 | PA      | $108000.00    | 0.03%             | 2021-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust (The)                                                                     | Massachusetts Clean Water Trust (The)                                                                     | CUSIP: 57604PB78<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1428915.46   | 0.36%             | 2027-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994552.30    | 0.25%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XCF6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030723.60   | 0.51%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YJR1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058693.50   | 0.27%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    256000 | PA      | $230614.55    | 0.06%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Town of Nantucket MA                                                                                      | Town of Nantucket                                                                                         | CUSIP: 630191X74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $684669.66    | 0.17%             | 2042-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp.                                                        | Matching Fund Special Purpose Securitization Corp.                                                        | CUSIP: 57665NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    140000 | PA      | $143683.97    | 0.04%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                                      | Puerto Rico Electric Power Authority                                                                      | CUSIP: 74526QXB3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    195000 | PA      | $140400.00    | 0.04%             | 2018-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584YTG4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    850000 | PA      | $901096.31    | 0.23%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XF63<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2029661.60   | 0.51%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508E20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $386302.60    | 0.10%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XDR9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1056908.74   | 0.27%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boston Housing Authority MA                                                                               | Boston Housing Authority                                                                                  | CUSIP: 100868BY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1110981.10   | 0.28%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                                                   | Puerto Rico Sales Tax Financing Corp. Sales Tax                                                           | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    239000 | PA      | $211263.38    | 0.05%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                                                   | Massachusetts Water Resources Authority                                                                   | CUSIP: 576051PN0<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2850285.64   | 0.72%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                                             | Commonwealth of Massachusetts                                                                             | CUSIP: 57582NXL4<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013508.60   | 0.25%             | 2023-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Town of Provincetown MA                                                                                   | Town of Provincetown                                                                                      | CUSIP: 744074LH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $757502.52    | 0.19%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    143685 | PA      | $124583.47    | 0.03%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                                                  | Massachusetts Development Finance Agency                                                                  | CUSIP: 57584XKC4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1867575.00   | 0.47%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Norton MA                                                                                         | Town of Norton                                                                                            | CUSIP: 668673PE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1235148.10   | 0.31%             | 2023-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                                                 | Commonwealth of Massachusetts Transportation Fund Revenue                                                 | CUSIP: 57604TGG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3164583.90   | 0.79%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508E46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2176582.40   | 0.55%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Quincy MA                                                                                         | City of Quincy                                                                                            | CUSIP: 748508H35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $663933.84    | 0.17%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                                              | Massachusetts Port Authority                                                                              | CUSIP: 575896TN5<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2859171.78   | 0.72%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    516737 | PA      | $387390.86    | 0.10%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                                                        | New York Liberty Development Corp.                                                                        | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $861877.05    | 0.22%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3Q8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     47977 | PA      | $44466.13     | 0.01%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    343525 | PA      | $355193.93    | 0.09%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** MFS Municipal Series Trust

**Signature:** Kasey Phillips

**Name of Signer:** Kasey Phillips

**Title:** Assistant Treasurer