# EDGAR Filing Document

**Accession Number:** 0001221845
**File Stem:** 0000940400-26-007534
**Filing Date:** 2026-2
**Character Count:** 434890
**Document Hash:** c1891d15380efd93f0b9b058a8957ab0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007534.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000940400-26-007534

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK ALLOCATION TARGET SHARES
- **CENTRAL INDEX KEY:** 0001221845

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21457
- **FILM NUMBER:** 26675597

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK BOND ALLOCATION TARGET SHARES
- **DATE OF NAME CHANGE:** 20030306

## Series and Classes Contracts Data

### BATS: High Income Municipal Series (Series ID: S000046220)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000144517 | BATS: High Income Municipal Series | BATEX           |

## Nport-Ex

Schedule of Investments (unaudited)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Building Products — 0.1%** | **Building Products — 0.1%** | **Building Products — 0.1%** |
| TimberHP by GO Lab, Inc.<sup>(a)</sup> <br>**(Cost: $155)**<br>| 90157 | $363333 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |
| Brightline East LLC, 11.00%, 01/31/30<sup>(b)</sup> | USD  | 346 | 96880 |
| **Total Corporate Bonds — 0.0%** <br>**(Cost: $255,327)** | **Total Corporate Bonds — 0.0%** <br>**(Cost: $255,327)** | **Total Corporate Bonds — 0.0%** <br>**(Cost: $255,327)** | 96880 |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Alabama — 3.0%** | **Alabama — 3.0%** | **Alabama — 3.0%** | **Alabama — 3.0%** |
| &nbsp;&nbsp;&nbsp; Baldwin County IDA, RB, AMT, Series A, 5.00%, <br> 06/01/55<sup>(b)(c)</sup><br>|  | 1695 | 1728003 |
| Black Belt Energy Gas District |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 05/01/56<sup>(c)</sup> |  | 1260 | 1300548 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 06/01/51<sup>(c)</sup> |  | 1100 | 1125196 |
| Hoover IDB, RB, AMT, 6.38%, 11/01/50<sup>(c)</sup> |  | 1295 | 1421499 |
| Mobile County IDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 5.00%, 06/01/54 |  | 5740 | 5478319 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series B, 4.75%, 12/01/54 |  | 3220 | 2953849 |
| Southeast Energy Authority A Cooperative District |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.00%, 11/01/51<sup>(c)</sup> |  | 1785 | 1805935 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 01/01/56<sup>(c)</sup> |  | 1000 | 1041926 |
|  |  |  | 16855275 |
| **Alaska — 0.1%** | **Alaska — 0.1%** | **Alaska — 0.1%** | **Alaska — 0.1%** |
| &nbsp;&nbsp;&nbsp; Northern Tobacco Securitization Corp., Refunding RB, <br> Series B-2, 0.00%, 06/01/66<sup>(d)</sup><br>|  | 4575 | 514646 |
| **Arizona — 2.2%** | **Arizona — 2.2%** | **Arizona — 2.2%** | **Arizona — 2.2%** |
| Arizona IDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 07/01/45<sup>(b)</sup> |  | 265 | 241669 |
| &nbsp;&nbsp;&nbsp; RB, 7.10%, 01/01/55<sup>(b)</sup> |  | 900 | 903937 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 07/01/55<sup>(b)</sup> |  | 285 | 245311 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 5.13%, 07/01/47<sup>(b)</sup> |  | 195 | 182500 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.50%, 07/01/52<sup>(b)</sup> |  | 610 | 570242 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.00%, 07/01/26<sup>(b)</sup> |  | 75 | 75336 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.13%, 07/01/37<sup>(b)</sup> |  | 605 | 606592 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series G, 5.00%, 07/01/47<sup>(b)</sup> |  | 185 | 175127 |
| &nbsp;&nbsp;&nbsp; City of Phoenix IDA (The), RB, Series A, 5.00%, <br> 07/01/46<sup>(b)</sup><br>|  | 570 | 545193 |
| County of Pima IDA (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.13%, 07/01/39 |  | 145 | 137441 |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 07/01/49 |  | 180 | 156527 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 06/15/51<sup>(b)</sup> |  | 625 | 484740 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 07/01/56<sup>(b)</sup> |  | 295 | 229578 |
| Glendale IDA, RB, 5.00%, 05/15/56 |  | 305 | 260048 |
| La Paz County IDA, RB, 5.88%, 06/15/48<sup>(b)</sup> |  | 285 | 266770 |
| Maricopa County IDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 10/01/40<sup>(b)</sup> |  | 280 | 244756 |
| &nbsp;&nbsp;&nbsp; RB, 5.50%, 10/01/51<sup>(b)</sup> |  | 280 | 222564 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.00%, 10/15/47<sup>(b)</sup> |  | 6470 | 5475286 |
| Sierra Vista IDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 06/15/34<sup>(b)</sup> |  | 45 | 46181 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 06/15/44<sup>(b)</sup> |  | 395 | 374762 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 06/15/54<sup>(b)</sup> |  | 440 | 394956 |
| &nbsp;&nbsp;&nbsp; RB, 6.38%, 06/15/64<sup>(b)</sup> |  | 445 | 455988 |
|  |  |  | 12295504 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Arkansas — 1.0%** | **Arkansas — 1.0%** | **Arkansas — 1.0%** | **Arkansas — 1.0%** |
| Arkansas Development Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.50%, 09/01/49<sup>(b)</sup> | USD  | 1200 | $1164659 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.75%, 09/01/49<sup>(b)</sup> |  | 1410 | 1379065 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.45%, 09/01/52 |  | 2000 | 2001009 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.70%, 05/01/53 |  | 350 | 354901 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 6.88%, 07/01/48<sup>(b)</sup> |  | 900 | 967202 |
|  |  |  | 5866836 |
| **California — 5.8%** | **California — 5.8%** | **California — 5.8%** | **California — 5.8%** |
| California HFA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series 2021-3, Class A, 3.25%, 08/20/36 |  | 916 | 878208 |
| &nbsp;&nbsp;&nbsp; RB, Series S, 8.00%, 07/01/67<sup>(b)(c)</sup> |  | 1575 | 1592855 |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> Refunding RB, Series B, 12.00%, 01/01/65<sup>(b)(c)</sup><br>|  | 14260 | 10552400 |
| California Municipal Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.63%, 07/01/44<sup>(b)</sup> |  | 150 | 149985 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.10%, 12/01/37 |  | 1500 | 1504927 |
| &nbsp;&nbsp;&nbsp; RB, Series S, 8.13%, 08/01/56<sup>(b)(c)</sup> |  | 300 | 300490 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.00%, 07/15/29 |  | 2500 | 2511210 |
| &nbsp;&nbsp;&nbsp; California Public Finance Authority, RB, Series A, 6.38%, <br> 06/01/59<sup>(b)</sup><br>|  | 2250 | 2147690 |
| &nbsp;&nbsp;&nbsp; California School Finance Authority, Refunding RB, <br> Series A, 5.00%, 07/01/51<sup>(b)</sup><br>|  | 300 | 294994 |
| &nbsp;&nbsp;&nbsp; California Statewide Communities Development Authority, <br> RB, Series A, 7.50%, 03/01/68<sup>(b)(c)</sup><br>|  | 745 | 750752 |
| California Statewide Financing Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.00%, 05/01/43 |  | 85 | 86784 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 6.00%, 05/01/43 |  | 315 | 315697 |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> RB, AMT, Series D, 4.00%, 05/15/51<br>|  | 4000 | 3561849 |
| CSCDA Community Improvement Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 4.00%, 07/01/56<sup>(b)</sup> |  | 205 | 156135 |
| &nbsp;&nbsp;&nbsp; RB, 4.00%, 03/01/57<sup>(b)</sup> |  | 505 | 371882 |
| &nbsp;&nbsp;&nbsp; RB, 4.00%, 07/01/58<sup>(b)</sup> |  | 265 | 169334 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 3.00%, 09/01/56<sup>(b)</sup> |  | 1090 | 741088 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 4.00%, 07/01/58<sup>(b)</sup> |  | 300 | 164320 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding <br> RB, Series B-2, 0.00%, 06/01/66<sup>(d)</sup><br>|  | 44890 | 4383495 |
| &nbsp;&nbsp;&nbsp; Hastings Campus Housing Finance Authority, RB, <br> Series B, 0.00%, 07/01/61<sup>(b)</sup><br>|  | 1045 | 510334 |
| &nbsp;&nbsp;&nbsp; Inland Empire Tobacco Securitization Corp., RB, <br> Series C-1, 0.00%, 06/01/36<sup>(d)</sup><br>|  | 3845 | 1885632 |
|  |  |  | 33030061 |
| **Colorado — 4.8%** | **Colorado — 4.8%** | **Colorado — 4.8%** | **Colorado — 4.8%** |
| Aurora Crossroads Metropolitan District No. 2 |  |  |  |
| &nbsp;&nbsp;&nbsp; GO, Refunding, Series A-1, 0.00%, 12/01/55 |  | 2300 | 2050447 |
| &nbsp;&nbsp;&nbsp; GO, Refunding, Series A-2, 0.00%, 12/01/55 |  | 600 | 532056 |
| &nbsp;&nbsp;&nbsp; Aviation Station North Metropolitan District No. 2, GO, <br> Series A, 5.00%, 12/01/48<br>|  | 500 | 492818 |
| &nbsp;&nbsp;&nbsp; Banning Lewis Ranch Metropolitan District No. 8, GO, <br> 4.88%, 12/01/51<sup>(b)</sup><br>|  | 500 | 445056 |
| &nbsp;&nbsp;&nbsp; Baseline Metropolitan District No. 1, GO, Series B, <br> 6.75%, 12/15/54<br>|  | 530 | 532570 |
| &nbsp;&nbsp;&nbsp; Canyons Metropolitan District No. 5, GO, Refunding, <br> Series B, 6.50%, 12/15/54<br>|  | 500 | 498855 |
| &nbsp;&nbsp;&nbsp; Centerra Metropolitan District No. 1, TA, 5.00%, <br> 12/01/47<sup>(b)</sup><br>|  | 155 | 153179 |
| Colorado Educational & Cultural Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 6.88%, 02/01/59<sup>(b)</sup> |  | 1200 | 1257340 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 8.50%, 02/01/59<sup>(b)</sup> |  | 3590 | 4067462 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 12/01/30<sup>(b)</sup> |  | 100 | 96731 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 12/15/45<sup>(b)</sup> |  | 500 | 484927 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** |
| Colorado Health Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.50%, 11/01/47 | USD  | 120 | $126151 |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 11/01/52 |  | 305 | 315801 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 05/15/35 |  | 250 | 234826 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 05/15/44 |  | 270 | 218909 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 05/15/49 |  | 420 | 317804 |
| Creekwalk Marketplace Business Improvement District |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 6.00%, 12/01/54 |  | 2025 | 2027516 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B, 8.00%, 12/15/54 |  | 513 | 512525 |
| &nbsp;&nbsp;&nbsp; Denver Convention Center Hotel Authority, Refunding <br> RB, 5.00%, 12/01/40<br>|  | 950 | 953919 |
| &nbsp;&nbsp;&nbsp; Elbert County Independence Water & Sanitation District, <br> Refunding RB, 5.13%, 12/01/33<br>|  | 500 | 517929 |
| &nbsp;&nbsp;&nbsp; Gold Hill North Business Improvement District, GO, <br> Series A, 5.60%, 12/01/54<sup>(b)</sup><br>|  | 500 | 490381 |
| &nbsp;&nbsp;&nbsp; Green Valley Ranch East Metropolitan District No. 9, GO, <br> Series A, 0.00%, 12/01/55<br>|  | 300 | 235185 |
| &nbsp;&nbsp;&nbsp; Highlands Metropolitan District No. 1, GO, 5.00%, <br> 12/01/51<br>|  | 575 | 490115 |
| Independence Metropolitan District No. 3 |  |  |  |
| &nbsp;&nbsp;&nbsp; GO, Series B, 7.13%, 12/15/54 |  | 500 | 500381 |
| &nbsp;&nbsp;&nbsp; GO, Refunding, Series A, 5.38%, 12/01/54 |  | 680 | 680289 |
| &nbsp;&nbsp;&nbsp; Lanterns Metropolitan District No. 2, GO, Series A, <br> 4.50%, 12/01/50<br>|  | 500 | 386542 |
| &nbsp;&nbsp;&nbsp; Loretto Heights Community Authority, RB, 4.88%, <br> 12/01/51<br>|  | 570 | 450819 |
| &nbsp;&nbsp;&nbsp; North Range Metropolitan District No. 3, GO, Series A, <br> 5.25%, 12/01/50<br>|  | 500 | 501668 |
| &nbsp;&nbsp;&nbsp; Orchard Park Place South Metropolitan District, GO, <br> 6.00%, 12/01/54<sup>(b)</sup><br>|  | 940 | 941168 |
| &nbsp;&nbsp;&nbsp; Palisade Metropolitan District No. 2, Refunding RB, <br> Series B, 0.00%, 12/15/54<sup>(b)</sup><br>|  | 1020 | 973087 |
| &nbsp;&nbsp;&nbsp; Piney Lake Trails Metropolitan District No. 1, GO, <br> Series A, 5.88%, 12/01/55<br>|  | 500 | 502424 |
| &nbsp;&nbsp;&nbsp; Redtail Ridge Metropolitan District, GO, 0.00%, <br> 12/01/32<sup>(d)</sup><br>|  | 3999 | 2511450 |
| &nbsp;&nbsp;&nbsp; Riverpark Metropolitan District/Arapahoe County, GO, <br> 6.00%, 12/01/42<br>|  | 500 | 509888 |
| &nbsp;&nbsp;&nbsp; Sojourn at Idlewild Metropolitan District, GO, Series A, <br> 6.13%, 12/01/55<sup>(b)</sup><br>|  | 500 | 513986 |
| &nbsp;&nbsp;&nbsp; Southlands Metropolitan District No. 1, GO, Refunding, <br> Series A-1, 5.00%, 12/01/37<br>|  | 250 | 251331 |
| &nbsp;&nbsp;&nbsp; St. Vrain Lakes Metropolitan District No. 4, GO, Series A, <br> 0.00%, 09/20/54<sup>(b)</sup><br>|  | 765 | 540959 |
| &nbsp;&nbsp;&nbsp; Waters' Edge Metropolitan District No. 2, GO, 5.00%, <br> 12/01/51<br>|  | 560 | 521339 |
| &nbsp;&nbsp;&nbsp; Westcreek Metropolitan District No. 2, GO, Series A, <br> 5.38%, 12/01/48<br>|  | 500 | 494022 |
|  |  |  | 27331855 |
| **Connecticut — 0.8%** | **Connecticut — 0.8%** | **Connecticut — 0.8%** | **Connecticut — 0.8%** |
| &nbsp;&nbsp;&nbsp; Connecticut State Health & Educational Facilities <br> Authority<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.38%, 07/01/54 |  | 775 | 751592 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 01/01/55<sup>(b)</sup> |  | 570 | 471358 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Finance Authority, RB, 7.00%, <br> 02/01/45<sup>(b)</sup><br>|  | 2430 | 2449094 |
| Stamford Housing Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 6.50%, 10/01/55 |  | 375 | 381573 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 6.25%, 10/01/60 |  | 260 | 258958 |
|  |  |  | 4312575 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Delaware — 0.3%** | **Delaware — 0.3%** | **Delaware — 0.3%** | **Delaware — 0.3%** |
| &nbsp;&nbsp;&nbsp; Affordable Housing Opportunities Trust, RB, Series AH-<br> 01, Class B, 6.88%, 05/01/39<sup>(b)</sup><br>| USD  | 661 | $668269 |
| Town of Bridgeville |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Tax Bonds, 5.25%, 07/01/44<sup>(b)</sup> |  | 100 | 100384 |
| &nbsp;&nbsp;&nbsp; Special Tax Bonds, 5.63%, 07/01/53<sup>(b)</sup> |  | 400 | 404305 |
| Town of Milton |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Tax Bonds, 5.70%, 09/01/44<sup>(b)</sup> |  | 150 | 151447 |
| &nbsp;&nbsp;&nbsp; Special Tax Bonds, 5.95%, 09/01/53<sup>(b)</sup> |  | 300 | 303732 |
|  |  |  | 1628137 |
| **District of Columbia — 0.8%** | **District of Columbia — 0.8%** | **District of Columbia — 0.8%** | **District of Columbia — 0.8%** |
| District of Columbia, Refunding RB, 5.00%, 06/01/46 |  | 580 | 568904 |
| District of Columbia Tobacco Settlement Financing Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 0.00%, 06/15/46<sup>(d)</sup> |  | 625 | 140329 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 0.00%, 06/15/46<sup>(d)</sup> |  | 10325 | 2227951 |
| &nbsp;&nbsp;&nbsp; RB, Series C, 0.00%, 06/15/55<sup>(d)</sup> |  | 17300 | 1702152 |
|  |  |  | 4639336 |
| **Florida — 15.0%** | **Florida — 15.0%** | **Florida — 15.0%** | **Florida — 15.0%** |
| &nbsp;&nbsp;&nbsp; Alachua County Housing Finance Authority, RB, Series A, <br> 6.30%, 07/01/55<sup>(b)(c)</sup><br>|  | 250 | 261835 |
| &nbsp;&nbsp;&nbsp; Angeline Community Development District, Special <br> Assessment RB, 5.50%, 05/01/45<br>|  | 415 | 419327 |
| &nbsp;&nbsp;&nbsp; Antillia Community Development District, Special <br> Assessment RB, 5.88%, 05/01/54<br>|  | 190 | 192887 |
| &nbsp;&nbsp;&nbsp; Arbors Community Development District, Special <br> Assessment RB, 5.50%, 05/01/55<sup>(b)</sup><br>|  | 1000 | 1006698 |
| &nbsp;&nbsp;&nbsp; Ave Maria Stewardship Community District, Special <br> Assessment RB, 5.60%, 05/01/56<br>|  | 300 | 298276 |
| &nbsp;&nbsp;&nbsp; Bella Collina Community Development District, Special <br> Assessment RB, 5.30%, 05/01/55<br>|  | 155 | 153792 |
| Bella Tara Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.88%, 05/01/45 |  | 290 | 300352 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.13%, 05/01/56 |  | 450 | 464570 |
| &nbsp;&nbsp;&nbsp; Bellehaven Community Development District, Special <br> Assessment RB, 6.05%, 05/01/55<br>|  | 500 | 514409 |
| &nbsp;&nbsp;&nbsp; Berry Bay II Community Development District, Special <br> Assessment RB, 5.45%, 05/01/54<br>|  | 225 | 220138 |
| &nbsp;&nbsp;&nbsp; Braddock Lakes Community Development District, <br> Special Assessment RB, 5.75%, 05/01/55<br>|  | 655 | 649214 |
| Brevard County Health Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 11/15/26<sup>(b)</sup> |  | 475 | 472078 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 11/15/28<sup>(b)</sup> |  | 510 | 500693 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 11/15/30<sup>(b)</sup> |  | 555 | 538245 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 11/15/34<sup>(b)</sup> |  | 650 | 611588 |
| Buckhead Trails Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.60%, 05/01/44 |  | 210 | 212515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment RB, Series 2022, 5.75%, <br> 05/01/52<br>|  | 210 | 213793 |
| Capital Projects Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 9.00%, 06/15/42<sup>(b)</sup> |  | 115 | 115274 |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 7.50%, 06/15/65<sup>(b)</sup> |  | 925 | 931208 |
| &nbsp;&nbsp;&nbsp; Capital Region Community Development District, Special <br> Assessment Refunding RB, Series A-2, 4.60%, <br> 05/01/31<br>|  | 345 | 351397 |
| Capital Trust Agency, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 01/01/55<sup>(b)</sup> |  | 1570 | 1329145 |
| &nbsp;&nbsp;&nbsp; RB, 4.88%, 06/15/56<sup>(b)</sup> |  | 1335 | 1054779 |
| &nbsp;&nbsp;&nbsp; RB, 0.00%, 07/01/61<sup>(b)(d)</sup> |  | 7255 | 610291 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 06/15/49<sup>(b)</sup> |  | 100 | 89788 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.75%, 06/01/54<sup>(b)</sup> |  | 420 | 351409 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 12/15/54 |  | 285 | 250712 |
| Capital Trust Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.13%, 07/01/55<sup>(b)</sup> |  | 500 | 498767 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Capital Trust Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 07/01/44<sup>(b)</sup> | USD  | 200 | $184825 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 07/01/54<sup>(b)</sup> |  | 350 | 312483 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 07/01/57<sup>(b)(e)</sup> |  | 960 | 960011 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 4.75%, 06/15/40<sup>(b)</sup> |  | 135 | 131423 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.13%, 06/15/50<sup>(b)</sup> |  | 125 | 114189 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.25%, 06/15/59<sup>(b)</sup> |  | 170 | 154420 |
| &nbsp;&nbsp;&nbsp; Celebration Pointe Community Development District No. <br> 1, Special Assessment RB, 5.13%, 05/01/45<sup>(f)(g)</sup><br>|  | 235 | 188000 |
| &nbsp;&nbsp;&nbsp; Center Lake Ranch West Community Development <br> District, Special Assessment RB, 5.60%, 05/01/55<sup>(b)</sup><br>|  | 200 | 200411 |
| City of Pompano Beach, Refunding RB, 4.00%, 09/01/50 |  | 1200 | 990117 |
| Coastal Ridge Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.75%, 05/01/45 |  | 600 | 619130 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.00%, 05/01/55 |  | 465 | 476891 |
| Connerton East Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.25%, 06/15/45 |  | 100 | 100049 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 06/15/55 |  | 170 | 167708 |
| &nbsp;&nbsp;&nbsp; Coral Creek Community Development District, Special <br> Assessment RB, 5.75%, 05/01/54<br>|  | 130 | 131424 |
| &nbsp;&nbsp;&nbsp; County of Lee Airport Revenue, RB, AMT, 5.25%, <br> 10/01/49<br>|  | 2145 | 2214008 |
| &nbsp;&nbsp;&nbsp; County of Miami-Dade Seaport Department, Refunding <br> RB, AMT, Series A, 5.25%, 10/01/52<br>|  | 460 | 466836 |
| County of Okaloosa, RB, 5.75%, 05/15/60<sup>(b)</sup> |  | 450 | 453933 |
| County of Osceola Transportation Revenue |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A-2, 0.00%, 10/01/46<sup>(d)</sup> |  | 935 | 310769 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A-2, 0.00%, 10/01/47<sup>(d)</sup> |  | 900 | 280588 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A-2, 0.00%, 10/01/48<sup>(d)</sup> |  | 635 | 186139 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A-2, (AGM), 0.00%, 10/01/52<sup>(d)</sup> |  | 525 | 121831 |
| &nbsp;&nbsp;&nbsp; Crossings Community Development District, Special <br> Assessment RB, 5.60%, 05/01/54<br>|  | 140 | 140254 |
| &nbsp;&nbsp;&nbsp; Crosswinds East Community Development District, <br> Special Assessment RB, 5.75%, 05/01/54<br>|  | 105 | 106359 |
| Curiosity Creek Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.40%, 05/01/44<sup>(b)</sup> |  | 110 | 110696 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.70%, 05/01/55<sup>(b)</sup> |  | 180 | 179413 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.88%, 05/01/56<sup>(b)</sup> |  | 600 | 600671 |
| Cypress Creek Reserve Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.75%, 05/01/45 |  | 200 | 207414 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.00%, 05/01/56 |  | 300 | 308969 |
| &nbsp;&nbsp;&nbsp; Darby Community Development District, Special <br> Assessment RB, Series 2, 5.88%, 05/01/35<br>|  | 400 | 421964 |
| Escambia County Health Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, (AGM), 4.00%, 08/15/45 |  | 3060 | 2792584 |
| &nbsp;&nbsp;&nbsp; Refunding RB, (AGM), 3.00%, 08/15/50 |  | 2500 | 1788592 |
| Firethorn Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.30%, 05/01/45 |  | 870 | 869820 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.60%, 05/01/55 |  | 200 | 198772 |
| Florida Development Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 06/01/55<sup>(b)</sup> |  | 645 | 596741 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.13%, 06/15/44<sup>(b)</sup> |  | 45 | 45011 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.13%, 06/15/55<sup>(b)</sup> |  | 2490 | 2076086 |
| &nbsp;&nbsp;&nbsp; RB, Series C, 5.75%, 12/15/56<sup>(b)</sup> |  | 370 | 275458 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 6.13%, 07/01/32<sup>(b)(c)</sup> |  | 1375 | 1380960 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 4.38%, 10/01/54<sup>(b)(c)</sup> |  | 680 | 687899 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 12.00%, 07/15/59<sup>(b)(c)(f)(g)</sup> |  | 3030 | 1090800 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 4.00%, 06/01/46<sup>(b)</sup> |  | 300 | 233563 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 4.50%, 12/15/56<sup>(b)</sup> |  | 1085 | 705623 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, 14.00%, 07/15/32<sup>(b)(c)(f)(g)</sup> |  | 3630 | 1306800 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, (AGM), 5.00%, 07/01/44 |  | 4860 | 4769471 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, (AGM), 5.25%, 07/01/47 |  | 500 | 491577 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Florida Development Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, (AGM), 5.25%, 07/01/53 | USD  | 1850 | $1818763 |
| &nbsp;&nbsp;&nbsp; Florida Local Government Finance Commission, RB, <br> Series A, 6.88%, 11/15/64<sup>(b)</sup><br>|  | 1200 | 1251129 |
| &nbsp;&nbsp;&nbsp; Gardens at Hammock Beach Community Development <br> District, Special Assessment RB, Series 2, 5.88%, <br> 05/01/55<br>|  | 415 | 421858 |
| &nbsp;&nbsp;&nbsp; Gas Worx Community Development District, Special <br> Assessment RB, 5.75%, 05/01/45<sup>(b)</sup><br>|  | 450 | 461472 |
| &nbsp;&nbsp;&nbsp; Golden Gem Community Development District, Special <br> Assessment RB, 6.00%, 05/01/55<br>|  | 1185 | 1200960 |
| Grand Oaks Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.25%, 05/01/40 |  | 210 | 204851 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.50%, 05/01/52 |  | 235 | 212090 |
| &nbsp;&nbsp;&nbsp; Greater Orlando Aviation Authority, RB, AMT, 5.50%, <br> 11/01/37<br>|  | 280 | 302243 |
| Greenbriar Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.65%, 05/01/45 |  | 185 | 187243 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.88%, 05/01/54 |  | 220 | 221432 |
| Hammock Oaks Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.85%, 05/01/44 |  | 240 | 244919 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.55%, 05/01/45<sup>(b)</sup> |  | 220 | 223648 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.75%, 05/01/55<sup>(b)</sup> |  | 335 | 338040 |
| &nbsp;&nbsp;&nbsp; Harbor Bay Community Development District, Special <br> Assessment Refunding RB, Series A-2, 3.70%, <br> 05/01/33<br>|  | 370 | 366215 |
| &nbsp;&nbsp;&nbsp; Harbor Reserve Community Development District, <br> Special Assessment RB, 5.75%, 05/01/56<br>|  | 800 | 790962 |
| &nbsp;&nbsp;&nbsp; Harvest Hills South Community Development District, <br> Special Assessment RB, 5.45%, 05/01/45<br>|  | 1375 | 1375848 |
| &nbsp;&nbsp;&nbsp; Highland Trails Community Development District, Special <br> Assessment RB, 5.85%, 05/01/56<br>|  | 300 | 299991 |
| &nbsp;&nbsp;&nbsp; Hillcrest Preserve Community Development District, <br> Special Assessment RB, 5.30%, 05/01/54<sup>(b)</sup><br>|  | 270 | 261051 |
| &nbsp;&nbsp;&nbsp; Hobe-St. Lucie Conservancy District, Special <br> Assessment RB, 5.88%, 05/01/55<br>|  | 165 | 168386 |
| Ibis Landing Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.70%, 06/15/45 |  | 100 | 104055 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.88%, 06/15/55 |  | 125 | 128613 |
| &nbsp;&nbsp;&nbsp; Kings Creek I Community Development District, Special <br> Assessment RB, 6.00%, 05/01/55<br>|  | 430 | 438515 |
| Kissimmee Park Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.88%, 05/01/45 |  | 270 | 279638 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.13%, 05/01/56 |  | 225 | 232285 |
| Lakes of Sarasota Community Development District 2 |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, Series A, 5.50%, 05/01/45 |  | 630 | 635388 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, Series A, 5.70%, 05/01/55 |  | 765 | 765346 |
| Lakewood Ranch Stewardship District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 3.25%, 05/01/29 |  | 225 | 221675 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.75%, 05/01/29 |  | 180 | 183334 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.40%, 05/01/39 |  | 520 | 522941 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 05/01/40 |  | 335 | 354949 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.30%, 05/01/44 |  | 100 | 102097 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.80%, 05/01/45 |  | 405 | 420595 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.45%, 05/01/48 |  | 365 | 369141 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.55%, 05/01/54 |  | 105 | 106230 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 05/01/55 |  | 765 | 767855 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.00%, 05/01/56 |  | 1135 | 1171773 |
| Lee County IDA, RB, Series B-1, 4.75%, 11/15/29 |  | 260 | 261688 |
| Lowery Hills Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 05/01/45<sup>(b)</sup> |  | 160 | 160839 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.85%, 05/01/55<sup>(b)</sup> |  | 220 | 220411 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| LT Ranch Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 05/01/44 | USD  | 205 | $211080 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.85%, 05/01/54 |  | 150 | 153635 |
| &nbsp;&nbsp;&nbsp; LTC Ranch West Residential Community Development <br> District, Special Assessment RB, 5.70%, 05/01/44<br>|  | 115 | 116832 |
| Malabar Springs Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.20%, 05/01/44 |  | 165 | 164636 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 05/01/54 |  | 250 | 244626 |
| &nbsp;&nbsp;&nbsp; Marion Ranch Community Development District, Special <br> Assessment RB, 5.95%, 05/01/54<br>|  | 275 | 279621 |
| &nbsp;&nbsp;&nbsp; Mckendree Pointe Community Development District, <br> Special Assessment RB, 6.00%, 05/01/56<br>|  | 400 | 397792 |
| &nbsp;&nbsp;&nbsp; New Port Corners Community Development District, <br> Special Assessment RB, 5.20%, 06/15/45<sup>(b)</sup><br>|  | 500 | 499790 |
| &nbsp;&nbsp;&nbsp; Newfield Community Development District, Special <br> Assessment RB, 5.90%, 05/01/56<br>|  | 805 | 822341 |
| &nbsp;&nbsp;&nbsp; Normandy Community Development District, Special <br> Assessment RB, 5.55%, 05/01/54<sup>(b)</sup><br>|  | 415 | 398808 |
| North AR-1 Pasco Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, Series A, 5.75%, 05/01/44 |  | 65 | 66820 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, Series A, 6.00%, 05/01/54 |  | 65 | 66392 |
| Orange County Health Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 08/01/35 |  | 250 | 250242 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 4.50%, 10/01/56 |  | 5000 | 4831414 |
| &nbsp;&nbsp;&nbsp; Ormond Crossings West Community Development <br> District<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.75%, 11/01/47 |  | 400 | 398126 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.00%, 11/01/57 |  | 500 | 496495 |
| &nbsp;&nbsp;&nbsp; Palm Beach County Health Facilities Authority, RB, <br> 5.75%, 11/01/50<br>|  | 210 | 221959 |
| &nbsp;&nbsp;&nbsp; Parker Road Community Development District, Special <br> Assessment Refunding RB, 3.38%, 05/01/30<br>|  | 335 | 323352 |
| &nbsp;&nbsp;&nbsp; Parrish Lakes Community Development District, Special <br> Assessment RB, 5.80%, 05/01/54<br>|  | 415 | 417455 |
| Parrish Plantation Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.80%, 05/01/44 |  | 115 | 118915 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.05%, 05/01/54 |  | 225 | 231459 |
| &nbsp;&nbsp;&nbsp; Pioneer Ranch Community Development District, Special <br> Assessment RB, 5.30%, 05/01/55<br>|  | 975 | 953290 |
| &nbsp;&nbsp;&nbsp; Poitras East Community Development District, Special <br> Assessment RB, 5.00%, 05/01/43<br>|  | 355 | 362593 |
| Portico Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, Series 2, 3.25%, 05/01/31 |  | 100 | 96757 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, Series 2, 4.00%, 05/01/50 |  | 425 | 359369 |
| &nbsp;&nbsp;&nbsp; Preserve at South Branch Community Development <br> District, Special Assessment RB, 3.50%, 11/01/30<br>|  | 170 | 170655 |
| Reflection Bay Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 05/01/45 |  | 125 | 127773 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.88%, 05/01/55 |  | 205 | 208541 |
| &nbsp;&nbsp;&nbsp; Rustic Oaks Community Development District, Special <br> Assessment RB, 4.00%, 05/01/52<br>|  | 385 | 314258 |
| &nbsp;&nbsp;&nbsp; Sandridge Community Development District, Special <br> Assessment RB, Series A-1, 4.00%, 05/01/51<br>|  | 130 | 112193 |
| Seminole County IDA |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.25%, 11/15/39 |  | 500 | 496833 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.75%, 11/15/54 |  | 595 | 563271 |
| &nbsp;&nbsp;&nbsp; Seminole Palms Community Development District, <br> Special Assessment RB, 5.50%, 05/01/55<sup>(b)</sup><br>|  | 260 | 252522 |
| &nbsp;&nbsp;&nbsp; Shadowlawn Community Development District, Special <br> Assessment RB, 5.85%, 05/01/54<br>|  | 820 | 818520 |
| &nbsp;&nbsp;&nbsp; Solaeris Community Development District, Special <br> Assessment RB, 6.00%, 05/01/45<sup>(b)</sup><br>|  | 720 | 742519 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| &nbsp;&nbsp;&nbsp; Southern Groves Community Development District No. 5, <br> Special Assessment Refunding RB, 3.60%, 05/01/34<br>| USD  | 365 | $351425 |
| St. Johns County IDA, Refunding RB, 4.00%, 08/01/55 |  | 600 | 498672 |
| &nbsp;&nbsp;&nbsp; Starling Community Development District, Special <br> Assessment RB, 5.60%, 05/01/56<sup>(b)</sup><br>|  | 555 | 544693 |
| &nbsp;&nbsp;&nbsp; Sunrise Community Development District, Special <br> Assessment RB, 5.88%, 05/01/55<sup>(b)</sup><br>|  | 600 | 587830 |
| &nbsp;&nbsp;&nbsp; Three Rivers Community Development District, Special <br> Assessment RB, 5.75%, 05/01/56<br>|  | 825 | 816838 |
| Tolomato Community Development District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.80%, 05/01/44 |  | 600 | 588619 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.13%, 05/01/54 |  | 605 | 584147 |
| Tradition Community Development District No. 9 |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.40%, 05/01/45 |  | 160 | 161141 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.65%, 05/01/56 |  | 225 | 225803 |
| &nbsp;&nbsp;&nbsp; Trout Creek Community Development District, Special <br> Assessment RB, 5.00%, 05/01/28<br>|  | 135 | 137042 |
| &nbsp;&nbsp;&nbsp; Village Community Development District No. 16, Special <br> Assessment RB, 5.13%, 05/01/56<br>|  | 1200 | 1199146 |
| &nbsp;&nbsp;&nbsp; Vivid Shores Community Development District, Special <br> Assessment RB, 5.63%, 05/01/56<br>|  | 400 | 400767 |
| &nbsp;&nbsp;&nbsp; Volusia County Educational Facility Authority, RB, 5.25%, <br> 06/01/49<br>|  | 705 | 721558 |
| West Villages Improvement District |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.75%, 05/01/39 |  | 190 | 190833 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.00%, 05/01/50 |  | 290 | 284916 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 05/01/54 |  | 220 | 220453 |
| &nbsp;&nbsp;&nbsp; Westside Community Development District, Special <br> Assessment Refunding RB, 3.75%, 05/01/29<sup>(b)</sup><br>|  | 605 | 606671 |
| &nbsp;&nbsp;&nbsp; Westside Haines City Community Development District, <br> Special Assessment RB, 6.00%, 05/01/54<br>|  | 165 | 168863 |
| &nbsp;&nbsp;&nbsp; Windward at Lakewood Ranch Community Development <br> District, Special Assessment RB, 4.25%, 05/01/52<br>|  | 405 | 343846 |
|  |  |  | 85486478 |
| **Georgia — 0.9%** | **Georgia — 0.9%** | **Georgia — 0.9%** | **Georgia — 0.9%** |
| Atlanta Development Authority (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; TA, Series A-1, 5.00%, 04/01/34<sup>(b)</sup> |  | 470 | 479567 |
| &nbsp;&nbsp;&nbsp; TA, Series A-2, 5.50%, 04/01/39<sup>(b)</sup> |  | 720 | 742049 |
| &nbsp;&nbsp;&nbsp; Development Authority of Cobb County (The), RB, <br> Series A, 6.38%, 06/15/58<sup>(b)</sup><br>|  | 145 | 141614 |
| &nbsp;&nbsp;&nbsp; East Point Business & IDA, RB, Series A, 5.25%, <br> 06/15/62<sup>(b)(f)(g)</sup><br>|  | 150 | 90000 |
| &nbsp;&nbsp;&nbsp; Metropolitan Atlanta Rapid Transit Authority, RB, <br> Series A, 5.00%, 07/01/55<br>|  | 3100 | 3235039 |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia, RB, Series A, <br> 5.00%, 07/01/52<br>|  | 645 | 651122 |
|  |  |  | 5339391 |
| **Illinois — 3.7%** | **Illinois — 3.7%** | **Illinois — 3.7%** | **Illinois — 3.7%** |
| Chicago Board of Education |  |  |  |
| &nbsp;&nbsp;&nbsp; GO, Series A, 5.00%, 12/01/42 |  | 1500 | 1450497 |
| &nbsp;&nbsp;&nbsp; GO, Series A, 6.25%, 12/01/50 |  | 1310 | 1368685 |
| &nbsp;&nbsp;&nbsp; GO, Series D, 5.00%, 12/01/46 |  | 1620 | 1490917 |
| &nbsp;&nbsp;&nbsp; GO, Series D, 5.00%, 12/01/46 |  | 685 | 625716 |
| &nbsp;&nbsp;&nbsp; GO, Series H, 5.00%, 12/01/46 |  | 370 | 340518 |
| &nbsp;&nbsp;&nbsp; GO, Refunding, Series B, 4.00%, 12/01/41 |  | 1910 | 1663179 |
| &nbsp;&nbsp;&nbsp; GO, Refunding, Series B, 6.00%, 12/01/44 |  | 1435 | 1496285 |
| &nbsp;&nbsp;&nbsp; GO, Refunding, Series C, 5.00%, 12/01/34 |  | 625 | 625438 |
| &nbsp;&nbsp;&nbsp; Chicago Transit Authority Sales Tax Receipts Fund, <br> Refunding RB, Series A, 5.00%, 12/01/49<br>|  | 2000 | 2072199 |
| City of Chicago, GO, Series A, 6.00%, 01/01/50 |  | 1640 | 1695332 |
| City of Marion Sales Tax Revenue |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.38%, 06/01/45 |  | 600 | 599783 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| City of Marion Sales Tax Revenue |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.63%, 06/01/55 | USD  | 1120 | $1120943 |
| County of Cook, RB, 6.50%, 01/01/45 |  | 1125 | 1135048 |
| Illinois Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.25%, 08/01/35<sup>(b)</sup> |  | 300 | 305400 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.38%, 11/01/55 |  | 600 | 598981 |
| &nbsp;&nbsp;&nbsp; Illinois State Toll Highway Authority, RB, Series A, 4.00%, <br> 01/01/46<br>|  | 2000 | 1835979 |
| Metropolitan Pier & Exposition Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 06/15/57 |  | 660 | 650798 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 06/15/50 |  | 1895 | 1646708 |
| &nbsp;&nbsp;&nbsp; Village of Lincolnwood Il, RB, Series B, 5.75%, <br> 12/01/43<sup>(b)</sup><br>|  | 265 | 268974 |
|  |  |  | 20991380 |
| **Indiana — 0.8%** | **Indiana — 0.8%** | **Indiana — 0.8%** | **Indiana — 0.8%** |
| &nbsp;&nbsp;&nbsp; City of Valparaiso, Refunding RB, AMT, 4.50%, <br> 01/01/34<sup>(b)</sup><br>|  | 175 | 179264 |
| Indiana Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.13%, 10/15/45<sup>(b)</sup> |  | 215 | 214963 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.38%, 10/15/55<sup>(b)</sup> |  | 160 | 160187 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 6.75%, 05/01/39 |  | 640 | 715837 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.25%, 03/01/50 |  | 475 | 476009 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.38%, 03/01/55 |  | 555 | 558380 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A-1, 5.00%, 11/15/42 |  | 700 | 759492 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A-1, 5.00%, 11/15/43 |  | 1000 | 1073560 |
| &nbsp;&nbsp;&nbsp; Indianapolis Local Public Improvement Bond Bank, RB, <br> Series E, 6.00%, 03/01/53<br>|  | 400 | 416959 |
|  |  |  | 4554651 |
| **Iowa — 0.5%** | **Iowa — 0.5%** | **Iowa — 0.5%** | **Iowa — 0.5%** |
| Iowa Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.13%, 05/15/59 |  | 725 | 670359 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series E, 4.00%, 08/15/46 |  | 570 | 525832 |
| &nbsp;&nbsp;&nbsp; Iowa Student Loan Liquidity Corp., Refunding RB, AMT, <br> Series C, 3.50%, 12/01/44<br>|  | 2000 | 1582864 |
|  |  |  | 2779055 |
| **Kansas — 0.0%** | **Kansas — 0.0%** | **Kansas — 0.0%** | **Kansas — 0.0%** |
| City of Manhattan, RB, Series A, 5.50%, 06/01/55 |  | 200 | 200255 |
| **Kentucky — 0.7%** | **Kentucky — 0.7%** | **Kentucky — 0.7%** | **Kentucky — 0.7%** |
| City of Henderson, RB, AMT, 4.70%, 01/01/52<sup>(b)</sup> |  | 1895 | 1768713 |
| &nbsp;&nbsp;&nbsp; Kentucky Public Energy Authority, RB, Series C, 4.00%, <br> 02/01/50<sup>(c)</sup><br>|  | 2310 | 2340054 |
|  |  |  | 4108767 |
| **Louisiana — 1.3%** | **Louisiana — 1.3%** | **Louisiana — 1.3%** | **Louisiana — 1.3%** |
| &nbsp;&nbsp;&nbsp; Juban Crossing Community Development District, <br> Special Assessment RB, Series A, 6.25%, 06/01/54<br>|  | 715 | 739902 |
| Louisiana Public Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.00%, 06/15/59<sup>(b)</sup> |  | 480 | 480953 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 06/01/60<sup>(b)</sup> |  | 1225 | 916224 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.50%, 06/01/62<sup>(b)</sup> |  | 150 | 134945 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.75%, 09/01/64 |  | 3635 | 3745316 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series R-2, 6.50%, 10/01/53<sup>(b)(c)</sup> |  | 505 | 530771 |
| Parish of St. James, RB, Series 2, 6.35%, 07/01/40<sup>(b)</sup> |  | 950 | 1037262 |
|  |  |  | 7585373 |
| **Maine — 0.5%** | **Maine — 0.5%** | **Maine — 0.5%** | **Maine — 0.5%** |
| Finance Authority of Maine |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series B, 9.50%, 06/01/32 |  | 150 | 127361 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 8.50%, 06/01/35<sup>(f)(g)</sup> |  | 825 | 422774 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 8.50%, 06/01/32 |  | 150 | 127360 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Maine (continued)** | **Maine (continued)** | **Maine (continued)** | **Maine (continued)** |
| Finance Authority of Maine |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, 4.63%, 12/01/47<sup>(b)(c)</sup> | USD  | 400 | $403042 |
| &nbsp;&nbsp;&nbsp; Maine Health & Higher Educational Facilities Authority, <br> Refunding RB, 4.00%, 07/01/37<sup>(b)</sup><br>|  | 2100 | 1836173 |
|  |  |  | 2916710 |
| **Maryland — 1.4%** | **Maryland — 1.4%** | **Maryland — 1.4%** | **Maryland — 1.4%** |
| City of Baltimore |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 4.88%, 06/01/42 |  | 170 | 172625 |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 06/01/55<sup>(b)</sup> |  | 200 | 197697 |
| &nbsp;&nbsp;&nbsp; Refunding TA, Series A, 3.20%, 06/01/30<sup>(b)</sup> |  | 200 | 195199 |
| &nbsp;&nbsp;&nbsp; Refunding TA, Series A, 3.25%, 06/01/31<sup>(b)</sup> |  | 225 | 218949 |
| &nbsp;&nbsp;&nbsp; Refunding TA, Series A, 3.30%, 06/01/32<sup>(b)</sup> |  | 500 | 484262 |
| &nbsp;&nbsp;&nbsp; Refunding TA, Series A, 3.35%, 06/01/33<sup>(b)</sup> |  | 540 | 520087 |
| &nbsp;&nbsp;&nbsp; Refunding TA, Series A, 3.40%, 06/01/34<sup>(b)</sup> |  | 570 | 545454 |
| &nbsp;&nbsp;&nbsp; Refunding TA, Series A, 3.45%, 06/01/35<sup>(b)</sup> |  | 610 | 579981 |
| &nbsp;&nbsp;&nbsp; Maryland Community Development Administration, RB, <br> Series 1, (FNMA COL), 4.35%, 02/01/44<br>|  | 2500 | 2455449 |
| Maryland EDC, RB, AMT, Series B, 5.25%, 06/30/47 |  | 570 | 568310 |
| &nbsp;&nbsp;&nbsp; Maryland Health & Higher Educational Facilities Authority, <br> RB, 7.00%, 03/01/55<sup>(b)</sup><br>|  | 1940 | 1975308 |
|  |  |  | 7913321 |
| **Massachusetts — 0.9%** | **Massachusetts — 0.9%** | **Massachusetts — 0.9%** | **Massachusetts — 0.9%** |
| Massachusetts Development Finance Agency |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 01/01/48 |  | 1000 | 967602 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 10/01/54 |  | 710 | 626058 |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 6.38%, 07/15/45<sup>(b)</sup> |  | 875 | 879022 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 01/01/47 |  | 500 | 485833 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.25%, 07/01/52 |  | 1050 | 1047169 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 10/01/57<sup>(b)</sup> |  | 500 | 480176 |
| Massachusetts HFA |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series A, 4.45%, 12/01/42 |  | 310 | 300972 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series A, 4.50%, 12/01/47 |  | 490 | 453840 |
|  |  |  | 5240672 |
| **Michigan — 0.0%** | **Michigan — 0.0%** | **Michigan — 0.0%** | **Michigan — 0.0%** |
| Michigan Strategic Fund, RB, 5.00%, 11/15/42 |  | 210 | 210091 |
| **Minnesota — 0.6%** | **Minnesota — 0.6%** | **Minnesota — 0.6%** | **Minnesota — 0.6%** |
| &nbsp;&nbsp;&nbsp; City of Deephaven, Refunding RB, Series A, 5.25%, <br> 07/01/37<br>|  | 605 | 605385 |
| City of Eagan, RB, Series A, 6.38%, 02/01/55<sup>(b)</sup> |  | 100 | 97101 |
| City of Forest Lake, Refunding RB, 5.00%, 07/01/56 |  | 2140 | 1767701 |
| &nbsp;&nbsp;&nbsp; Housing & Redevelopment Authority of the City of St. <br> Paul, RB, Series A, 5.50%, 07/01/38<sup>(b)</sup><br>|  | 240 | 241398 |
| &nbsp;&nbsp;&nbsp; Minnesota HFA, RB, Series M, (GNMA/FNMA/FHLMC <br> COL), 6.00%, 01/01/53<br>|  | 540 | 571760 |
|  |  |  | 3283345 |
| **Missouri — 0.3%** | **Missouri — 0.3%** | **Missouri — 0.3%** | **Missouri — 0.3%** |
| City of St. Louis IDA (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 4.38%, 11/15/35 |  | 215 | 201905 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.75%, 06/15/54 |  | 585 | 591502 |
| Kansas City IDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A-1, 5.00%, 06/01/46<sup>(b)</sup> |  | 290 | 282518 |
| &nbsp;&nbsp;&nbsp; RB, Series A-1, 5.00%, 06/01/54<sup>(b)</sup> |  | 185 | 174515 |
| &nbsp;&nbsp;&nbsp; RB, Series C, 7.50%, 11/15/46<sup>(f)(g)</sup> |  | 64 | 64037 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B, 5.00%, 11/15/46<sup>(f)(g)</sup> |  | 116 | 44211 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series D, 2.00%, 11/15/46<sup>(f)(g)</sup> |  | 52 | 5 |
| &nbsp;&nbsp;&nbsp; Kansas City Land Clearance Redevelopment Authority, <br> TA, Series B, 5.00%, 02/01/40<sup>(b)</sup><br>|  | 260 | 261266 |
|  |  |  | 1619959 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Nebraska — 0.0%** | **Nebraska — 0.0%** | **Nebraska — 0.0%** | **Nebraska — 0.0%** |
| &nbsp;&nbsp;&nbsp; Douglas County Hospital Authority No. 3, Refunding RB, <br> 5.00%, 11/01/45<br>| USD  | 270 | $270081 |
| **Nevada — 0.1%** | **Nevada — 0.1%** | **Nevada — 0.1%** | **Nevada — 0.1%** |
| City of Las Vegas Special Improvement District No. 613 |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.25%, 12/01/47 |  | 110 | 110000 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 12/01/53 |  | 100 | 101141 |
| Tahoe-Douglas Visitors Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 07/01/40 |  | 215 | 221937 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 07/01/45 |  | 280 | 282054 |
|  |  |  | 715132 |
| **New Hampshire — 2.5%** | **New Hampshire — 2.5%** | **New Hampshire — 2.5%** | **New Hampshire — 2.5%** |
| New Hampshire Business Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.38%, 12/01/31<sup>(b)</sup> |  | 1245 | 1244711 |
| &nbsp;&nbsp;&nbsp; RB, 5.95%, 12/01/31<sup>(b)</sup> |  | 305 | 305008 |
| &nbsp;&nbsp;&nbsp; RB, 0.00%, 04/01/32<sup>(b)(d)</sup> |  | 550 | 374855 |
| &nbsp;&nbsp;&nbsp; RB, 0.00%, 12/15/33<sup>(b)(d)</sup> |  | 4735 | 2944782 |
| &nbsp;&nbsp;&nbsp; RB, 5.88%, 12/15/33<sup>(b)</sup> |  | 1240 | 1233494 |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 12/01/35<sup>(b)</sup> |  | 2310 | 2304178 |
| &nbsp;&nbsp;&nbsp; RB, 5.38%, 12/15/35<sup>(b)</sup> |  | 1409 | 1404496 |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 5.15%, 09/28/37 |  | 1450 | 1469488 |
| &nbsp;&nbsp;&nbsp; RB, Series 2024-1, Class A, 4.25%, 07/01/51 |  | 612 | 615404 |
| &nbsp;&nbsp;&nbsp; RB, Series 2025-1, Class B, 5.75%, 04/28/42 |  | 770 | 804407 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.13%, 08/15/40 |  | 320 | 292394 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.25%, 08/15/46 |  | 365 | 313029 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.50%, 08/15/55 |  | 755 | 625647 |
|  |  |  | 13931893 |
| **New Jersey — 1.3%** | **New Jersey — 1.3%** | **New Jersey — 1.3%** | **New Jersey — 1.3%** |
| New Jersey EDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 11/01/54<sup>(b)</sup> |  | 945 | 811819 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series B, 6.50%, 04/01/31 |  | 65 | 65370 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 6.00%, 08/01/49<sup>(b)</sup> |  | 250 | 250013 |
| &nbsp;&nbsp;&nbsp; New Jersey Health Care Facilities Financing Authority, <br> RB, 4.00%, 07/01/51<br>|  | 1065 | 975430 |
| &nbsp;&nbsp;&nbsp; New Jersey Higher Education Student Assistance <br> Authority<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series B, 4.25%, 12/01/45 |  | 275 | 274711 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series C, 4.25%, 12/01/50 |  | 1540 | 1337808 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Sub-Series C, 3.63%, 12/01/49 |  | 820 | 626421 |
| &nbsp;&nbsp;&nbsp; New Jersey Transportation Trust Fund Authority, RB, <br> Series AA, 4.00%, 06/15/45<br>|  | 3000 | 2834083 |
|  |  |  | 7175655 |
| **New York — 4.6%** | **New York — 4.6%** | **New York — 4.6%** | **New York — 4.6%** |
| Build NYC Resource Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.13%, 07/01/43 |  | 385 | 399206 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.38%, 07/01/53 |  | 705 | 720398 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, 5.00%, 01/01/35<sup>(b)</sup> |  | 385 | 385585 |
| County of Cattaraugus, RB, 5.00%, 05/01/44 |  | 195 | 195068 |
| &nbsp;&nbsp;&nbsp; Hempstead Town Local Development Corp., RB, 5.00%, <br> 07/01/44<br>|  | 500 | 500023 |
| &nbsp;&nbsp;&nbsp; Huntington Local Development Corp., RB, Series A, <br> 5.25%, 07/01/56<br>|  | 125 | 100786 |
| &nbsp;&nbsp;&nbsp; New York City Housing Development Corp., RB, <br> Series C-1, 4.20%, 11/01/44<br>|  | 1000 | 981740 |
| &nbsp;&nbsp;&nbsp; New York Counties Tobacco Trust IV, Refunding RB, <br> Series A, 5.00%, 06/01/42<br>|  | 915 | 762291 |
| &nbsp;&nbsp;&nbsp; New York Counties Tobacco Trust VI, Refunding RB, <br> Series 2B, 5.00%, 06/01/51<br>|  | 835 | 702775 |
| New York Liberty Development Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series 2, 5.38%, 11/15/40<sup>(b)</sup> |  | 400 | 399975 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 3.00%, 11/15/51 |  | 650 | 470038 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **New York (continued)** | **New York (continued)** | **New York (continued)** | **New York (continued)** |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, Refunding RB, <br> Series A, 3.00%, 03/15/51<br>| USD  | 800 | $586700 |
| New York State Thruway Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 4.00%, 03/15/49 |  | 3690 | 3434737 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B, 4.00%, 01/01/45 |  | 1190 | 1112044 |
| New York Transportation Development Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.63%, 04/01/40 |  | 500 | 524595 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 6.00%, 06/30/50 |  | 1095 | 1188502 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.00%, 04/30/53 |  | 1240 | 1053274 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 6.00%, 06/30/54 |  | 5000 | 5168034 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 6.00%, 06/30/55 |  | 2000 | 2111931 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, 5.38%, 08/01/36 |  | 865 | 902526 |
| Suffolk Regional Off-Track Betting Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 12/01/34 |  | 405 | 418041 |
| &nbsp;&nbsp;&nbsp; RB, 5.75%, 12/01/44 |  | 700 | 712784 |
| &nbsp;&nbsp;&nbsp; RB, 6.00%, 12/01/53 |  | 1000 | 1014766 |
| &nbsp;&nbsp;&nbsp; Ulster County Capital Resource Corp., RB, 5.88%, <br> 09/15/59<sup>(b)</sup><br>|  | 600 | 597961 |
| Westchester County Local Development Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 07/01/41<sup>(b)</sup> |  | 510 | 508319 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 07/01/56<sup>(b)</sup> |  | 560 | 492822 |
| Westchester Tobacco Asset Securitization Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Sub-Series C, 4.00%, 06/01/42 |  | 670 | 546352 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Sub-Series C, 5.13%, 06/01/51 |  | 500 | 428328 |
|  |  |  | 26419601 |
| **North Carolina — 0.6%** | **North Carolina — 0.6%** | **North Carolina — 0.6%** | **North Carolina — 0.6%** |
| &nbsp;&nbsp;&nbsp; North Carolina HFA, RB, (GNMA/FNMA/FHLMC), 6.00%, <br> 07/01/53<br>|  | 680 | 719581 |
| North Carolina Medical Care Commission |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 11/01/56<sup>(e)</sup> |  | 1500 | 1511133 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.25%, 01/01/41 |  | 230 | 225594 |
| &nbsp;&nbsp;&nbsp; North Carolina Turnpike Authority, RB, Series A, (AGM), <br> 5.00%, 01/01/58<br>|  | 985 | 1005942 |
|  |  |  | 3462250 |
| **North Dakota — 0.1%** | **North Dakota — 0.1%** | **North Dakota — 0.1%** | **North Dakota — 0.1%** |
| &nbsp;&nbsp;&nbsp; City of Grand Forks, RB, Series A, (AGM), 5.00%, <br> 12/01/53<br>|  | 350 | 356169 |
| **Ohio — 2.7%** | **Ohio — 2.7%** | **Ohio — 2.7%** | **Ohio — 2.7%** |
| Buckeye Tobacco Settlement Financing Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B-2, 5.00%, 06/01/55 |  | 7075 | 5726950 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B-3, 0.00%, 06/01/57<sup>(d)</sup> |  | 16680 | 1234130 |
| Cleveland-Cuyahoga County Port Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.38%, 01/01/39<sup>(b)</sup> |  | 145 | 148384 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.88%, 01/01/49<sup>(b)</sup> |  | 330 | 328127 |
| County of Franklin, RB, Series B, 4.00%, 07/01/45 |  | 850 | 728208 |
| County of Hamilton |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 01/01/46 |  | 190 | 185441 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 4.00%, 08/15/50 |  | 915 | 820527 |
| County of Hardin |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 05/01/30 |  | 140 | 139717 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.25%, 05/01/40 |  | 145 | 139037 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.50%, 05/01/50 |  | 670 | 601718 |
| &nbsp;&nbsp;&nbsp; Hickory Chase Community Authority, Refunding RB, <br> 5.00%, 12/01/40<sup>(b)</sup><br>|  | 735 | 747797 |
| &nbsp;&nbsp;&nbsp; Ohio Air Quality Development Authority, RB, AMT, 4.50%, <br> 01/15/48<sup>(b)</sup><br>|  | 4715 | 4351702 |
| State of Ohio, RB, AMT, Series P-3, 5.00%, 06/30/53 |  | 370 | 362150 |
|  |  |  | 15513888 |
| **Oklahoma — 1.1%** | **Oklahoma — 1.1%** | **Oklahoma — 1.1%** | **Oklahoma — 1.1%** |
| &nbsp;&nbsp;&nbsp; Oklahoma Development Finance Authority, RB, 7.25%, <br> 09/01/51<sup>(b)</sup><br>|  | 3290 | 3271009 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oklahoma (continued)** | **Oklahoma (continued)** | **Oklahoma (continued)** | **Oklahoma (continued)** |
| &nbsp;&nbsp;&nbsp; Tulsa County Industrial Authority, Refunding RB, 5.25%, <br> 11/15/45<br>| USD  | 965 | $964678 |
| &nbsp;&nbsp;&nbsp; Tulsa Municipal Airport Trust Trustees, Refunding RB, <br> AMT, 6.25%, 12/01/40<br>|  | 1755 | 1947945 |
|  |  |  | 6183632 |
| **Oregon — 1.6%** | **Oregon — 1.6%** | **Oregon — 1.6%** | **Oregon — 1.6%** |
| &nbsp;&nbsp;&nbsp; Clackamas County Hospital Facility Authority, Refunding <br> RB, Series A, 5.25%, 11/15/50<br>|  | 200 | 192934 |
| &nbsp;&nbsp;&nbsp; Clackamas County School District No. 12 North <br> Clackamas<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GO, Series A, (School Bond Guaranty), 0.00%, <br> 06/15/38<sup>(d)</sup><br>|  | 30 | 17659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GO, Series A, (School Bond Guaranty), 0.00%, <br> 06/15/38<sup>(d)</sup><br>|  | 245 | 141630 |
| &nbsp;&nbsp;&nbsp; Oregon State Facilities Authority, RB, Series A, 5.25%, <br> 06/15/55<sup>(b)</sup><br>|  | 305 | 273406 |
| Port of Morrow, GO, Series A, 5.15%, 10/01/26<sup>(b)</sup> |  | 3515 | 3515536 |
| &nbsp;&nbsp;&nbsp; Salem Hospital Facility Authority, Refunding RB, Series A, <br> 4.00%, 05/15/49<br>|  | 5000 | 4474155 |
| &nbsp;&nbsp;&nbsp; Yamhill County Hospital Authority, Refunding RB, <br> Series A, 5.00%, 11/15/36<br>|  | 300 | 300478 |
|  |  |  | 8915798 |
| **Pennsylvania — 3.1%** | **Pennsylvania — 3.1%** | **Pennsylvania — 3.1%** | **Pennsylvania — 3.1%** |
| Allegheny Community Broadband, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 7.75%, 09/01/45<sup>(b)</sup> |  | 160 | 158196 |
| &nbsp;&nbsp;&nbsp; RB, 8.00%, 09/01/51<sup>(b)</sup> |  | 185 | 180830 |
| &nbsp;&nbsp;&nbsp; Allentown Neighborhood Improvement Zone <br> Development Authority<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 05/01/32<sup>(b)</sup> |  | 100 | 102690 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 05/01/42<sup>(b)</sup> |  | 100 | 101163 |
| &nbsp;&nbsp;&nbsp; Beaver County IDA, Refunding RB, Series B, 3.75%, <br> 10/01/47<br>|  | 2380 | 1993067 |
| &nbsp;&nbsp;&nbsp; Chester County Health & Education Facilities Authority, <br> Refunding RB, 5.25%, 06/01/55<br>|  | 580 | 582893 |
| Doylestown Hospital Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 07/01/31<sup>(b)</sup> |  | 125 | 132732 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.38%, 07/01/39<sup>(b)</sup> |  | 290 | 319522 |
| &nbsp;&nbsp;&nbsp; Geisinger Authority, Refunding RB, Series 1, 4.00%, <br> 02/15/47<br>|  | 3200 | 2844802 |
| &nbsp;&nbsp;&nbsp; Montgomery County Higher Education & Health Authority, <br> Refunding RB, 4.00%, 09/01/49<br>|  | 1135 | 978451 |
| Montgomery County IDA, RB, Series C, 5.00%, 11/15/45 |  | 875 | 882008 |
| &nbsp;&nbsp;&nbsp; Pennsylvania Economic Development Financing <br> Authority<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.88%, 09/01/47<sup>(b)</sup> |  | 2320 | 2404937 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.75%, 06/30/48 |  | 490 | 512686 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.25%, 06/30/53 |  | 770 | 780462 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B, 5.25%, 12/01/38<sup>(c)</sup> |  | 455 | 457847 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series C, 5.25%, 12/01/37<sup>(c)</sup> |  | 795 | 800252 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, 5.50%, 11/01/44 |  | 500 | 500148 |
| Pennsylvania Higher Education Assistance Agency |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series 1A, 4.75%, 06/01/46 |  | 810 | 799522 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series B, 3.00%, 06/01/47 |  | 1010 | 713177 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Sub-Series 1C, 5.00%, 06/01/51 |  | 165 | 159319 |
| Philadelphia Authority for Industrial Development |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.25%, 11/01/52 |  | 235 | 241095 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.00%, 07/01/49 |  | 2000 | 1851304 |
| &nbsp;&nbsp;&nbsp; School District of Philadelphia (The), GO, Series A, <br> 5.50%, 09/01/48<br>|  | 265 | 280549 |
|  |  |  | 17777652 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Puerto Rico — 6.7%** | **Puerto Rico — 6.7%** | **Puerto Rico — 6.7%** | **Puerto Rico — 6.7%** |
| Children's Trust Fund, RB, Series A, 0.00%, 05/15/57<sup>(d)</sup> | USD  | 17040 | $806234 |
| Commonwealth of Puerto Rico |  |  |  |
| &nbsp;&nbsp;&nbsp; GO, Series A, 0.00%, 07/01/33<sup>(d)</sup> |  | 537 | 388805 |
| &nbsp;&nbsp;&nbsp; GO, Series A-1, 5.63%, 07/01/29 |  | 1049 | 1111083 |
| &nbsp;&nbsp;&nbsp; GO, Series A-1, 5.75%, 07/01/31 |  | 440 | 483697 |
| &nbsp;&nbsp;&nbsp; GO, Series A-1, 4.00%, 07/01/33 |  | 418 | 417381 |
| &nbsp;&nbsp;&nbsp; GO, Series A-1, 4.00%, 07/01/35 |  | 375 | 368648 |
| &nbsp;&nbsp;&nbsp; GO, Series A-1, 4.00%, 07/01/41 |  | 94 | 86838 |
| &nbsp;&nbsp;&nbsp; GO, Series A-1, 4.00%, 07/01/46 |  | 3955 | 3450913 |
| &nbsp;&nbsp;&nbsp; GO, Sub-Series CW/PRIFA, 0.00%, 11/01/51<sup>(c)(f)(g)</sup> |  | 22078 | 12915673 |
| Puerto Rico Electric Power Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 07/01/29<sup>(f)(g)</sup> |  | 385 | 256987 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.00%, 07/01/33<sup>(f)(g)</sup> |  | 1795 | 1198162 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.75%, 07/01/36<sup>(f)(g)</sup> |  | 775 | 517312 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 07/01/42<sup>(f)(g)</sup> |  | 325 | 216937 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.00%, 07/01/43<sup>(f)(g)</sup> |  | 175 | 116812 |
| &nbsp;&nbsp;&nbsp; RB, Series A-1, 10.00%, 07/01/19<sup>(f)(g)</sup> |  | 42 | 28042 |
| &nbsp;&nbsp;&nbsp; RB, Series A-2, 10.00%, 07/01/19<sup>(f)(g)</sup> |  | 212 | 141472 |
| &nbsp;&nbsp;&nbsp; RB, Series A-3, 10.00%, 07/01/19<sup>(f)(g)</sup> |  | 177 | 118160 |
| &nbsp;&nbsp;&nbsp; RB, Series B-3, 10.00%, 07/01/19<sup>(f)(g)</sup> |  | 177 | 118160 |
| &nbsp;&nbsp;&nbsp; RB, Series C-1, 5.40%, 01/01/18<sup>(f)(g)</sup> |  | 486 | 324637 |
| &nbsp;&nbsp;&nbsp; RB, Series C-2, 5.40%, 07/01/18<sup>(f)(g)</sup> |  | 486 | 324689 |
| &nbsp;&nbsp;&nbsp; RB, Series C-3, 5.40%, 01/01/20<sup>(f)(g)</sup> |  | 49 | 32821 |
| &nbsp;&nbsp;&nbsp; RB, Series C-4, 5.40%, 07/01/20<sup>(f)(g)</sup> |  | 49 | 32821 |
| &nbsp;&nbsp;&nbsp; RB, Series CCC, 5.25%, 07/01/26<sup>(f)(g)</sup> |  | 125 | 83438 |
| &nbsp;&nbsp;&nbsp; RB, Series CCC, 5.00%, 07/01/27<sup>(f)(g)</sup> |  | 545 | 363787 |
| &nbsp;&nbsp;&nbsp; RB, Series CCC, 5.25%, 07/01/28<sup>(f)(g)</sup> |  | 70 | 46725 |
| &nbsp;&nbsp;&nbsp; RB, Series D-1, 7.50%, 01/01/20<sup>(f)(g)</sup> |  | 426 | 284086 |
| &nbsp;&nbsp;&nbsp; RB, Series D-2, 7.50%, 01/01/20<sup>(f)(g)</sup> |  | 840 | 560932 |
| &nbsp;&nbsp;&nbsp; RB, Series D-4, 7.50%, 07/01/20<sup>(f)(g)</sup> |  | 145 | 96785 |
| &nbsp;&nbsp;&nbsp; RB, Series TT, 5.00%, 07/01/18<sup>(f)(g)</sup> |  | 160 | 106800 |
| &nbsp;&nbsp;&nbsp; RB, Series TT, 5.00%, 07/01/26<sup>(f)(g)</sup> |  | 190 | 126825 |
| &nbsp;&nbsp;&nbsp; RB, Series TT, 5.00%, 07/01/32<sup>(f)(g)</sup> |  | 395 | 263662 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.50%, 07/01/17<sup>(f)(g)</sup> |  | 110 | 73425 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.50%, 07/01/18<sup>(f)(g)</sup> |  | 95 | 63413 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.50%, 07/01/19<sup>(f)(g)</sup> |  | 70 | 46725 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.38%, 07/01/22<sup>(f)(g)</sup> |  | 940 | 627450 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.38%, 07/01/24<sup>(f)(g)</sup> |  | 65 | 43388 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.00%, 07/01/28<sup>(f)(g)</sup> |  | 165 | 110137 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.25%, 07/01/33<sup>(f)(g)</sup> |  | 75 | 50063 |
| &nbsp;&nbsp;&nbsp; RB, Series WW, 5.50%, 07/01/38<sup>(f)(g)</sup> |  | 220 | 146850 |
| &nbsp;&nbsp;&nbsp; RB, Series XX, 5.25%, 07/01/27<sup>(f)(g)</sup> |  | 50 | 33375 |
| &nbsp;&nbsp;&nbsp; RB, Series XX, 5.25%, 07/01/35<sup>(f)(g)</sup> |  | 30 | 20025 |
| &nbsp;&nbsp;&nbsp; RB, Series XX, 5.75%, 07/01/36<sup>(f)(g)</sup> |  | 600 | 400500 |
| &nbsp;&nbsp;&nbsp; RB, Series XX, 5.25%, 07/01/40<sup>(f)(g)</sup> |  | 2320 | 1548600 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series AAA, 5.25%, 07/01/22<sup>(f)(g)</sup> |  | 160 | 106800 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series AAA, 5.25%, 07/01/28<sup>(f)(g)</sup> |  | 265 | 176887 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series AAA, 5.25%, 07/01/29<sup>(f)(g)</sup> |  | 40 | 26700 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series DDD, 5.00%, 07/01/19<sup>(f)(g)</sup> |  | 895 | 597412 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series UU, 0.00%, 07/01/17<sup>(c)(f)(g)</sup> |  | 30 | 20025 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series UU, 0.00%, 07/01/18<sup>(c)(f)(g)</sup> |  | 30 | 20025 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series UU, 0.00%, 07/01/20<sup>(c)(f)(g)</sup> |  | 250 | 166875 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series UU, 3.95%, 07/01/31<sup>(c)(f)(g)</sup> |  | 300 | 200250 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series ZZ, 5.00%, 07/01/17<sup>(f)(g)</sup> |  | 70 | 46725 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series ZZ, 5.25%, 07/01/19<sup>(f)(g)</sup> |  | 235 | 156862 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series ZZ, 5.25%, 07/01/23<sup>(f)(g)</sup> |  | 930 | 620775 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series ZZ, 5.00%, 07/01/28<sup>(f)(g)</sup> |  | 75 | 50063 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Industrial Tourist Educational Medical & <br> Environmental Control Facilities Financing Authority<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A-1, 6.75%, 01/01/45 |  | 165 | 187281 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A-2, 6.50%, 01/01/42 |  | 110 | 125123 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A-2, 6.75%, 01/01/45 |  | 165 | 186666 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Puerto Rico (continued)** | **Puerto Rico (continued)** | **Puerto Rico (continued)** | **Puerto Rico (continued)** |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A-1, 0.00%, 07/01/33<sup>(d)</sup> | USD  | 496 | $375592 |
| &nbsp;&nbsp;&nbsp; RB, Series A-1, 0.00%, 07/01/46<sup>(d)</sup> |  | 3861 | 1289651 |
| &nbsp;&nbsp;&nbsp; RB, Series A-1, 4.75%, 07/01/53 |  | 5000 | 4712818 |
| &nbsp;&nbsp;&nbsp; RB, Series A-2, 4.54%, 07/01/53 |  | 317 | 287138 |
| &nbsp;&nbsp;&nbsp; RB, Series B-1, 0.00%, 07/01/46<sup>(d)</sup> |  | 477 | 159646 |
|  |  |  | 38066589 |
| **Rhode Island — 0.0%** | **Rhode Island — 0.0%** | **Rhode Island — 0.0%** | **Rhode Island — 0.0%** |
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., RB, Series A, <br> 0.00%, 06/01/52<sup>(d)</sup><br>|  | 1715 | 249021 |
| **South Carolina — 0.7%** | **South Carolina — 0.7%** | **South Carolina — 0.7%** | **South Carolina — 0.7%** |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, RB, Series A-1, <br> 5.25%, 10/01/54<sup>(c)</sup><br>|  | 1880 | 2008855 |
| South Carolina Jobs EDA |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.75%, 12/01/60<sup>(b)(f)(g)</sup> |  | 1315 | 1275756 |
| &nbsp;&nbsp;&nbsp; RB, 7.50%, 08/15/62<sup>(b)</sup> |  | 325 | 289876 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.63%, 10/01/60 |  | 320 | 313152 |
| &nbsp;&nbsp;&nbsp; South Carolina Public Service Authority, Refunding RB, <br> Series B, 4.00%, 12/01/56<br>|  | 200 | 172960 |
|  |  |  | 4060599 |
| **Tennessee — 0.9%** | **Tennessee — 0.9%** | **Tennessee — 0.9%** | **Tennessee — 0.9%** |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> Health & Educational Facilities Board, Refunding RB, <br> 4.00%, 10/01/49<br>|  | 220 | 180438 |
| &nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County <br> IDB, Special Assessment RB, 0.00%, 06/01/43<sup>(b)(d)</sup><br>|  | 655 | 283800 |
| Tennergy Corp., RB, Series A, 5.50%, 10/01/53<sup>(c)</sup> |  | 2320 | 2488478 |
| &nbsp;&nbsp;&nbsp; Tennessee Energy Acquisition Corp., RB, Series A, <br> 5.00%, 05/01/52<sup>(c)</sup><br>|  | 1750 | 1869511 |
|  |  |  | 4822227 |
| **Texas — 6.7%** | **Texas — 6.7%** | **Texas — 6.7%** | **Texas — 6.7%** |
| &nbsp;&nbsp;&nbsp; Angelina & Neches River Authority, RB, AMT, Series A, <br> 7.50%, 12/01/45<sup>(b)(f)(g)</sup><br>|  | 510 | 6431 |
| Arlington Higher Education Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.63%, 08/15/54<sup>(b)(f)(g)</sup> |  | 1305 | 978718 |
| &nbsp;&nbsp;&nbsp; RB, 7.88%, 11/01/62<sup>(b)(f)(g)</sup> |  | 280 | 168000 |
| &nbsp;&nbsp;&nbsp; Beaumont Housing Authority, RB, Series A, 6.50%, <br> 07/01/55<sup>(b)</sup><br>|  | 345 | 340830 |
| City of Anna |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.20%, 09/15/45 |  | 1000 | 1002059 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.75%, 09/15/54<sup>(b)</sup> |  | 315 | 318376 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 09/15/55 |  | 200 | 200421 |
| City of Bastrop |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.38%, 09/01/45<sup>(b)</sup> |  | 110 | 110837 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/01/55<sup>(b)</sup> |  | 220 | 221624 |
| City of Buda |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.00%, 09/01/55<sup>(b)</sup> |  | 345 | 340063 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.75%, 09/01/55<sup>(b)</sup> |  | 685 | 675905 |
| City of Celina |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.38%, 09/01/45<sup>(b)</sup> |  | 110 | 109109 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 09/01/45<sup>(b)</sup> |  | 100 | 100313 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/01/55<sup>(b)</sup> |  | 110 | 108905 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/01/55<sup>(b)</sup> |  | 190 | 188109 |
| City of Corpus Christi |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.38%, 09/15/31 |  | 100 | 103768 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.13%, 09/15/44 |  | 152 | 152217 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.50%, 09/15/54 |  | 227 | 227201 |
| City of Crandall |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.25%, 09/15/45<sup>(b)</sup> |  | 100 | 98951 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.25%, 09/15/45<sup>(b)</sup> |  | 1000 | 989512 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| City of Crandall |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 09/15/55<sup>(b)</sup> | USD  | 225 | $223848 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/15/55<sup>(b)</sup> |  | 300 | 297417 |
| City of Ennis |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.25%, 09/15/45<sup>(b)</sup> |  | 100 | 99071 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 09/15/55<sup>(b)</sup> |  | 200 | 196685 |
| City of Fate, Special Assessment RB, 5.75%, 08/15/54<sup>(b)</sup> |  | 100 | 100507 |
| &nbsp;&nbsp;&nbsp; City of Friendswood, Special Assessment RB, 7.00%, <br> 09/15/54<br>|  | 657 | 660103 |
| City of Houston Airport System Revenue |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series A, 4.00%, 07/01/41 |  | 700 | 636145 |
| &nbsp;&nbsp;&nbsp; RB, AMT, Series B, 5.50%, 07/15/39 |  | 410 | 439988 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, 5.00%, 07/01/29 |  | 1300 | 1301437 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series C, 5.00%, 07/15/27 |  | 1410 | 1433103 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Sub-Series A, 4.00%, 07/01/41 |  | 3590 | 3420949 |
| City of Lavon |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.50%, 09/15/54<sup>(b)</sup> |  | 750 | 753076 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.75%, 09/15/55 |  | 300 | 300088 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 6.38%, 09/15/55 |  | 300 | 297605 |
| &nbsp;&nbsp;&nbsp; City of Oak Point, Special Assessment RB, 5.25%, <br> 09/15/54<sup>(b)</sup><br>|  | 305 | 291718 |
| City of Princeton |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 4.38%, 09/01/31<sup>(b)</sup> |  | 50 | 50248 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.00%, 09/01/44<sup>(b)</sup> |  | 100 | 98954 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.13%, 09/01/44<sup>(b)</sup> |  | 100 | 97970 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.38%, 09/01/45<sup>(b)</sup> |  | 95 | 95544 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.38%, 09/01/45<sup>(b)</sup> |  | 110 | 110630 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.25%, 09/01/54<sup>(b)</sup> |  | 150 | 148362 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.38%, 09/01/54<sup>(b)</sup> |  | 172 | 168073 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/01/55<sup>(b)</sup> |  | 155 | 155185 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/01/55<sup>(b)</sup> |  | 150 | 150457 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.63%, 09/01/55<sup>(b)</sup> |  | 300 | 300357 |
| &nbsp;&nbsp;&nbsp; City of San Antonio Airport System, RB, AMT, 5.00%, <br> 07/01/45<br>|  | 500 | 500025 |
| &nbsp;&nbsp;&nbsp; City of Seagoville, Special Assessment RB, 6.00%, <br> 09/15/54<sup>(b)</sup><br>|  | 245 | 250968 |
| &nbsp;&nbsp;&nbsp; City of Terrell, Special Assessment RB, 7.00%, <br> 09/15/55<sup>(b)</sup><br>|  | 950 | 968966 |
| &nbsp;&nbsp;&nbsp; Clifton Higher Education Finance Corp., RB, Series A, <br> 6.00%, 06/15/54<sup>(b)</sup><br>|  | 100 | 92775 |
| &nbsp;&nbsp;&nbsp; Club Municipal Management District No. 1, Special <br> Assessment RB, 5.38%, 09/01/55<sup>(b)</sup><br>|  | 180 | 180293 |
| &nbsp;&nbsp;&nbsp; County of Denton, Special Assessment RB, 5.88%, <br> 12/31/45<sup>(b)</sup><br>|  | 440 | 453440 |
| County of Hays |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 7.00%, 09/15/45 |  | 200 | 200064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Assessment Refunding RB, 5.63%, <br> 09/15/45<sup>(b)</sup><br>|  | 200 | 200115 |
| &nbsp;&nbsp;&nbsp; Del Valle ISD, GO, (Permanent School Fund GTD), <br> 4.00%, 06/15/47<br>|  | 1335 | 1260117 |
| Fort Bend County IDC, RB, Series B, 4.75%, 11/01/42 |  | 1465 | 1465152 |
| New Hope Cultural Education Facilities Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 08/15/51<sup>(b)</sup> |  | 250 | 232986 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.75%, 10/01/52 |  | 800 | 820102 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 01/01/55 |  | 200 | 167004 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.38%, 01/01/55 |  | 300 | 296847 |
| &nbsp;&nbsp;&nbsp; New Hope Higher Education Finance Corp., RB, <br> Series A, 5.75%, 06/15/51<sup>(b)</sup><br>|  | 1175 | 865597 |
| Port of Beaumont IDA, RB, 4.10%, 01/01/28<sup>(b)</sup> |  | 1800 | 1639223 |
| Port of Beaumont Navigation District |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series B, 10.00%, 07/01/26<sup>(b)</sup> |  | 850 | 853311 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series A, 3.63%, 01/01/35<sup>(b)</sup> |  | 690 | 644425 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| Port of Beaumont Navigation District |  |  |  |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series A, 4.00%, 01/01/50<sup>(b)</sup> | USD  | 2600 | $1990837 |
| &nbsp;&nbsp;&nbsp; Tarrant County Cultural Education Facilities Finance <br> Corp., RB, Series A, 5.00%, 11/15/55<br>|  | 615 | 632473 |
| &nbsp;&nbsp;&nbsp; Texas Community Housing & EDC, RB, Series A-1, <br> 6.25%, 01/01/65<sup>(b)</sup><br>|  | 1350 | 1256024 |
| Texas Private Activity Bond Surface Transportation Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.00%, 06/30/58 |  | 315 | 307229 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.50%, 12/31/58 |  | 1050 | 1087869 |
| &nbsp;&nbsp;&nbsp; Texas Transportation Commission State Highway <br> 249 System, RB, 0.00%, 08/01/42<sup>(d)</sup><br>|  | 655 | 296315 |
| Texas Water Development Board |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 4.00%, 10/15/45 |  | 795 | 764804 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.25%, 10/15/51 |  | 2500 | 2376177 |
|  |  |  | 38072007 |
| **Utah — 1.6%** | **Utah — 1.6%** | **Utah — 1.6%** | **Utah — 1.6%** |
| &nbsp;&nbsp;&nbsp; Arrowhead Springs Public Infrastructure District, GO, <br> 6.00%, 03/01/56<sup>(b)</sup><br>|  | 1797 | 1798125 |
| &nbsp;&nbsp;&nbsp; MIDA Mountain Veterans Program Public Infrastructure <br> District, TA, 5.20%, 06/01/54<sup>(b)</sup><br>|  | 800 | 790398 |
| Mida Mountain Village Public Infrastructure District |  |  |  |
| &nbsp;&nbsp;&nbsp; TA, Series 1, 5.50%, 06/01/50<sup>(b)</sup> |  | 300 | 300475 |
| &nbsp;&nbsp;&nbsp; TA, Series 1, 5.13%, 06/15/54<sup>(b)</sup> |  | 710 | 701894 |
| &nbsp;&nbsp;&nbsp; TA, Series 2, 5.75%, 06/15/44<sup>(b)</sup> |  | 500 | 511935 |
| &nbsp;&nbsp;&nbsp; Ridges Estates Infrastructure Financing District, Special <br> Assessment RB, 6.25%, 12/01/53<sup>(b)</sup><br>|  | 1415 | 1459391 |
| &nbsp;&nbsp;&nbsp; SkyRidge Pegasus Infrastructure Financing District, <br> Special Assessment RB, 5.25%, 12/01/44<sup>(b)</sup><br>|  | 1140 | 1129547 |
| Utah Charter School Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 06/15/52<sup>(b)</sup> |  | 285 | 234315 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 10/15/44 |  | 1615 | 1614968 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 06/15/55<sup>(b)</sup> |  | 230 | 200267 |
| Utah Infrastructure Agency |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 5.50%, 10/15/44 |  | 120 | 125152 |
| &nbsp;&nbsp;&nbsp; RB, 5.50%, 10/15/48 |  | 115 | 117942 |
| &nbsp;&nbsp;&nbsp; Wood Ranch Public Infrastructure District, Special <br> Assessment RB, 5.63%, 12/01/53<sup>(b)</sup><br>|  | 125 | 125806 |
|  |  |  | 9110215 |
| **Vermont — 0.4%** | **Vermont — 0.4%** | **Vermont — 0.4%** | **Vermont — 0.4%** |
| East Central Vermont Telecommunications District |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.75%, 12/01/40<sup>(b)</sup> |  | 695 | 645155 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.50%, 12/01/44<sup>(b)</sup> |  | 705 | 583744 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.88%, 12/01/46<sup>(b)</sup> |  | 785 | 828819 |
|  |  |  | 2057718 |
| **Virginia — 0.4%** | **Virginia — 0.4%** | **Virginia — 0.4%** | **Virginia — 0.4%** |
| Ballston Quarter Community Development Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; TA, Series A, 5.50%, 03/01/46 |  | 92 | 91553 |
| &nbsp;&nbsp;&nbsp; TA, Series A, 0.00%, 03/01/59 |  | 220 | 202127 |
| &nbsp;&nbsp;&nbsp; Hampton Roads Transportation Accountability <br> Commission, RB, Series A, 4.00%, 07/01/55<br>|  | 285 | 256259 |
| James City County EDA, RB, Series A, 6.88%, 12/01/58 |  | 345 | 372349 |
| &nbsp;&nbsp;&nbsp; Lower Magnolia Green Community Development <br> Authority<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.00%, 03/01/35<sup>(b)</sup> |  | 230 | 230051 |
| &nbsp;&nbsp;&nbsp; Special Assessment RB, 5.00%, 03/01/45<sup>(b)</sup> |  | 85 | 82412 |
| &nbsp;&nbsp;&nbsp; Norfolk Redevelopment & Housing Authority, RB, <br> Series A, 5.00%, 01/01/49<br>|  | 365 | 332965 |
| Virginia Beach Development Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.00%, 09/01/53 |  | 360 | 395089 |
| &nbsp;&nbsp;&nbsp; RB, Series B-3, 5.38%, 09/01/29 |  | 235 | 237687 |
|  |  |  | 2200492 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Washington — 1.3%** | **Washington — 1.3%** | **Washington — 1.3%** | **Washington — 1.3%** |
| &nbsp;&nbsp;&nbsp; Washington Economic Development Finance Authority, <br> RB, AMT, 5.88%, 12/01/45<sup>(c)</sup><br>| USD  | 1000 | $1004489 |
| &nbsp;&nbsp;&nbsp; Washington Health Care Facilities Authority, Refunding <br> RB, Series A, 5.50%, 09/01/55<br>|  | 800 | 846337 |
| Washington State Housing Finance Commission |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.00%, 07/01/59<sup>(b)</sup> |  | 100 | 101947 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 07/01/50<sup>(b)</sup> |  | 310 | 266163 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.75%, 01/01/53<sup>(b)</sup> |  | 200 | 192388 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.88%, 01/01/59<sup>(b)</sup> |  | 160 | 154743 |
| &nbsp;&nbsp;&nbsp; RB, Series B-2, 3.95%, 07/01/29<sup>(b)</sup> |  | 775 | 775057 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 01/01/26<sup>(b)</sup> |  | 190 | 190000 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.00%, 01/01/43<sup>(b)</sup> |  | 1935 | 1804472 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 6.00%, 01/01/45<sup>(b)</sup> |  | 210 | 208423 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 5.00%, 07/01/48 |  | 190 | 188081 |
| &nbsp;&nbsp;&nbsp; Refunding RB, Series A, 6.25%, 01/01/56 |  | 1600 | 1596198 |
|  |  |  | 7328298 |
| **West Virginia — 0.3%** | **West Virginia — 0.3%** | **West Virginia — 0.3%** | **West Virginia — 0.3%** |
| City of Martinsburg, RB, Series A-1, 4.63%, 12/01/43 |  | 430 | 417225 |
| &nbsp;&nbsp;&nbsp; Morgantown Utility Board, Inc., RB, Series B, 4.00%, <br> 12/01/48<br>|  | 1215 | 1123819 |
|  |  |  | 1541044 |
| **Wisconsin — 7.0%** | **Wisconsin — 7.0%** | **Wisconsin — 7.0%** | **Wisconsin — 7.0%** |
| Public Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, 6.25%, 10/01/31<sup>(b)(f)(g)</sup> |  | 195 | 19500 |
| &nbsp;&nbsp;&nbsp; RB, 0.00%, 12/15/32<sup>(b)(d)</sup> |  | 1206 | 784211 |
| &nbsp;&nbsp;&nbsp; RB, 5.50%, 12/15/32<sup>(b)</sup> |  | 1281 | 1278734 |
| &nbsp;&nbsp;&nbsp; RB, 5.75%, 12/15/33<sup>(b)</sup> |  | 3305 | 3305971 |
| &nbsp;&nbsp;&nbsp; RB, 0.00%, 12/15/38<sup>(b)(d)</sup> |  | 795 | 368344 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 06/15/41<sup>(b)</sup> |  | 210 | 182985 |
| &nbsp;&nbsp;&nbsp; RB, 0.00%, 12/15/42<sup>(b)(d)</sup> |  | 1520 | 467055 |
| &nbsp;&nbsp;&nbsp; RB, 7.00%, 10/01/47<sup>(b)(f)(g)</sup> |  | 195 | 19500 |
| &nbsp;&nbsp;&nbsp; RB, 5.63%, 06/15/49<sup>(b)</sup> |  | 1395 | 1283248 |
| &nbsp;&nbsp;&nbsp; RB, 5.75%, 12/01/54<sup>(b)</sup> |  | 2300 | 2309943 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 06/15/55<sup>(b)</sup> |  | 550 | 422793 |
| &nbsp;&nbsp;&nbsp; RB, 5.00%, 01/01/56<sup>(b)</sup> |  | 875 | 726683 |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 4.50%, 01/01/35<sup>(b)</sup> |  | 625 | 613761 |
| &nbsp;&nbsp;&nbsp; RB, Series 1, 0.00%, 07/01/62<sup>(b)(c)</sup> |  | 1200 | 961500 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.75%, 07/01/43<sup>(b)</sup> |  | 1920 | 1951682 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 12/15/44<sup>(b)</sup> |  | 120 | 114572 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.85%, 11/01/46<sup>(b)(f)(g)</sup> |  | 275 | 96250 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.00%, 11/01/46<sup>(b)(f)(g)</sup> |  | 155 | 54250 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.38%, 07/15/47<sup>(b)</sup> |  | 335 | 325419 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.63%, 06/15/49<sup>(b)</sup> |  | 840 | 751928 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 06/15/51<sup>(b)</sup> |  | 195 | 167506 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.00%, 09/01/51<sup>(b)</sup> |  | 315 | 241448 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.25%, 12/01/51<sup>(b)(f)(g)</sup> |  | 1060 | 688232 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 06/15/55<sup>(b)</sup> |  | 2750 | 2159983 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 07/01/55<sup>(b)</sup> |  | 880 | 752086 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 4.75%, 06/15/56<sup>(b)</sup> |  | 440 | 346663 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.00%, 06/15/56<sup>(b)</sup> |  | 145 | 121835 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.50%, 07/01/59<sup>(b)</sup> |  | 2020 | 2260791 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 6.45%, 04/01/60<sup>(b)</sup> |  | 345 | 329511 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.25%, 01/01/61<sup>(b)</sup> |  | 1715 | 1811429 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 7.13%, 07/01/65<sup>(b)(c)</sup> |  | 720 | 711446 |
| &nbsp;&nbsp;&nbsp; RB, Series A-4, 5.50%, 11/15/32<sup>(b)</sup> |  | 1673 | 1676024 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 0.00%, 01/01/35<sup>(b)(d)</sup> |  | 1005 | 605328 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 8.50%, 01/01/36<sup>(b)</sup> |  | 500 | 466172 |
| &nbsp;&nbsp;&nbsp; RB, Series B, 0.00%, 01/01/60<sup>(b)(d)</sup> |  | 19530 | 1800234 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.00%, 09/30/51 |  | 2025 | 1675216 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.25%, 07/01/54 |  | 560 | 460738 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 4.00%, 03/31/56 |  | 680 | 549347 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 5.75%, 06/30/60 |  | 315 | 325058 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** |
| Public Finance Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, AMT, 6.50%, 06/30/60 | USD  | 1500 | $1647340 |
| &nbsp;&nbsp;&nbsp; RB, AMT, 6.50%, 12/31/65 |  | 1250 | 1367876 |
| &nbsp;&nbsp;&nbsp; Refunding RB, 5.25%, 05/15/52<sup>(b)</sup> |  | 1135 | 1071408 |
| &nbsp;&nbsp;&nbsp; Refunding RB, AMT, Series B, 5.00%, 07/01/42 |  | 750 | 750145 |
| Wisconsin Health & Educational Facilities Authority |  |  |  |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.50%, 08/15/44 |  | 1305 | 1349079 |
| &nbsp;&nbsp;&nbsp; RB, Series A, 5.75%, 08/15/54 |  | 350 | 359208 |
| &nbsp;&nbsp;&nbsp; Wisconsin Housing & EDA, RB, Series A, 4.55%, <br> 07/01/37<br>|  | 165 | 166588 |
|  |  |  | 39899020 |
| **Wyoming — 0.1%** | **Wyoming — 0.1%** | **Wyoming — 0.1%** | **Wyoming — 0.1%** |
| &nbsp;&nbsp;&nbsp; University of Wyoming, RB, Series C, (AGM), 4.00%, <br> 06/01/51<br>|  | 775 | 709361 |
| **Total Municipal Bonds — 89.2%** <br>**(Cost: $523,987,032)** | **Total Municipal Bonds — 89.2%** <br>**(Cost: $523,987,032)** | **Total Municipal Bonds — 89.2%** <br>**(Cost: $523,987,032)** | 507542015 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(h)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(h)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(h)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(h)</sup> |
| **Alabama — 1.0%** | **Alabama — 1.0%** | **Alabama — 1.0%** | **Alabama — 1.0%** |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, RB, Series C-1, 5.25%, <br> 02/01/53<br>|  | 5095 | 5379535 |
| **District of Columbia — 0.9%** | **District of Columbia — 0.9%** | **District of Columbia — 0.9%** | **District of Columbia — 0.9%** |
| &nbsp;&nbsp;&nbsp; District of Columbia Income Tax Secured Revenue, <br> Refunding RB, Series A, 5.00%, 06/01/50<br>|  | 5000 | 5226141 |
| **Massachusetts — 1.7%** | **Massachusetts — 1.7%** | **Massachusetts — 1.7%** | **Massachusetts — 1.7%** |
| &nbsp;&nbsp;&nbsp; Commonwealth of Massachusetts, GO, Series I, 5.00%, <br> 12/01/54<br>|  | 9450 | 9809536 |
| **New York — 3.1%** | **New York — 3.1%** | **New York — 3.1%** | **New York — 3.1%** |
| &nbsp;&nbsp;&nbsp; New York City Housing Development Corp., RB, <br> Series D-1-B, 4.25%, 11/01/45<br>|  | 1000 | 990423 |
| &nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Revenue, <br> RB, Sub-Series H-1, 5.00%, 11/01/50<br>|  | 7500 | 7738658 |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, Refunding RB, <br> Series A, 5.00%, 03/15/54<br>|  | 4365 | 4498535 |
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, RB, AMT, <br> Series 221, 4.00%, 07/15/55<br>|  | 5015 | 4374016 |
|  |  |  | 17601632 |
| **Texas — 0.9%** | **Texas — 0.9%** | **Texas — 0.9%** | **Texas — 0.9%** |
| Sabine-Neches Navigation District, GO, 5.25%, 02/15/52 |  | 5000 | 5202148 |
| **Total Municipal Bonds Transferred to Tender Option Bond Trusts —** <br> **7.6%** <br>**(Cost: $43,600,427)** | **Total Municipal Bonds Transferred to Tender Option Bond Trusts —** <br> **7.6%** <br>**(Cost: $43,600,427)** | **Total Municipal Bonds Transferred to Tender Option Bond Trusts —** <br> **7.6%** <br>**(Cost: $43,600,427)** | 43218992 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Warrants**<sup>(g)</sup> | **Warrants**<sup>(g)</sup> | **Warrants**<sup>(g)</sup> |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |
| &nbsp;&nbsp;&nbsp; Brightline West LLC, (Issued/Exercisable 11/29/25, <br> 1 Share for 1 Warrant, Expires 11/15/42, Strike Price <br> USD 5.00)<br>| 118620 | 1 |
| **Total Warrants — 0.0%** <br>**(Cost: $0)** | **Total Warrants — 0.0%** <br>**(Cost: $0)** | 1 |
| **Total Long-Term Investments — 96.9%** <br>**(Cost: $567,842,941)** | **Total Long-Term Investments — 96.9%** <br>**(Cost: $567,842,941)** | 551221221 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par* <br>*(000)*<br>| *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Colorado — 0.3%** | **Colorado — 0.3%** | **Colorado — 0.3%** | **Colorado — 0.3%** |
| &nbsp;&nbsp;&nbsp; City of Colorado Springs Utilities System Revenue, RB, <br> Series A, VRDN, (TD Bank NA SBPA), 3.30%, <br> 01/07/26<sup>(i)</sup><br>| USD  | 2000 | $2000000 |
| **Florida — 1.3%** | **Florida — 1.3%** | **Florida — 1.3%** | **Florida — 1.3%** |
| County of Escambia, RB, VRDN, 2.35%, 01/07/26<sup>(i)</sup> |  | 6100 | 6100000 |
| &nbsp;&nbsp;&nbsp; Highlands County Health Facilities Authority, Refunding <br> RB, VRDN, 2.30%, 01/07/26<sup>(i)</sup><br>|  | 1100 | 1100000 |
|  |  |  | 7200000 |
| **Illinois — 0.4%** | **Illinois — 0.4%** | **Illinois — 0.4%** | **Illinois — 0.4%** |
| &nbsp;&nbsp;&nbsp; Illinois Finance Authority, Refunding RB, Sub-Series C-1, <br> VRDN, (JPMorgan Chase Bank NA SBPA), 2.35%, <br> 01/07/26<sup>(i)</sup><br>|  | 2500 | 2500000 |
| **Louisiana — 0.8%** | **Louisiana — 0.8%** | **Louisiana — 0.8%** | **Louisiana — 0.8%** |
| &nbsp;&nbsp;&nbsp; Louisiana Offshore Terminal Authority, Refunding RB, <br> Series B, VRDN, (JPMorgan Chase Bank NA LOC), <br> 2.40%, 01/07/26<sup>(i)</sup><br>|  | 1700 | 1700000 |
| &nbsp;&nbsp;&nbsp; Louisiana Public Facilities Authority, Refunding RB, <br> Series B-3, VRDN, (Sumitomo Mitsui Banking Corp. <br> LOC), 2.30%, 01/07/26<sup>(i)</sup><br>|  | 2700 | 2700000 |
| &nbsp;&nbsp;&nbsp; State of Louisiana Gasoline & Fuels Tax Revenue, <br> Refunding RB, Series A-2, VRDN, (TD Bank NA LOC), <br> 2.45%, 01/02/26<sup>(i)</sup><br>|  | 150 | 150000 |
|  |  |  | 4550000 |
| **Maryland — 0.4%** | **Maryland — 0.4%** | **Maryland — 0.4%** | **Maryland — 0.4%** |
| Maryland EDC, Refunding RB, VRDN, 2.40%, 01/07/26<sup>(i)</sup> |  | 2385 | 2385000 |
| **Massachusetts — 0.3%** | **Massachusetts — 0.3%** | **Massachusetts — 0.3%** | **Massachusetts — 0.3%** |
| &nbsp;&nbsp;&nbsp; Massachusetts Water Resources Authority, RB, Series B, <br> VRDN, (TD Bank NA LOC), 2.40%, 01/07/26<sup>(i)</sup><br>|  | 1500 | 1500000 |
| **Michigan — 0.3%** | **Michigan — 0.3%** | **Michigan — 0.3%** | **Michigan — 0.3%** |
| &nbsp;&nbsp;&nbsp; Green Lake Township EDC, Refunding RB, VRDN, (PNC <br> Bank NA LOC), 2.55%, 01/02/26<sup>(i)</sup><br>|  | 1700 | 1700000 |
| **Mississippi — 0.3%** | **Mississippi — 0.3%** | **Mississippi — 0.3%** | **Mississippi — 0.3%** |
| &nbsp;&nbsp;&nbsp; Mississippi Business Finance Corp., RB, Series L, <br> VRDN, 2.50%, 01/02/26<sup>(i)</sup><br>|  | 1860 | 1860000 |
| **New York — 1.0%** | **New York — 1.0%** | **New York — 1.0%** | **New York — 1.0%** |
| &nbsp;&nbsp;&nbsp; City of New York, GO, Sub-Series A-5, VRDN, <br> (JPMorgan Chase Bank NA SBPA), 2.50%, 01/02/26<sup>(i)</sup><br>|  | 1645 | 1645000 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority, <br> Refunding RB, Series BB, VRDN, 2.50%, 01/02/26<sup>(i)</sup><br>|  | 2400 | 2400000 |
| &nbsp;&nbsp;&nbsp; State of New York Mortgage Agency Homeowner <br> Mortgage Revenue, RB, Series 247, VRDN, (TD Bank <br> NA SBPA), 2.35%, 01/07/26<sup>(i)</sup><br>|  | 1500 | 1500000 |
|  |  |  | 5545000 |
| **Ohio — 1.7%** | **Ohio — 1.7%** | **Ohio — 1.7%** | **Ohio — 1.7%** |
| &nbsp;&nbsp;&nbsp; City of Columbus Sewerage Revenue, RB, Series B, <br> VRDN, 2.27%, 01/07/26<sup>(i)</sup><br>|  | 2000 | 2000000 |
| &nbsp;&nbsp;&nbsp; County of Allen Hospital Facilities Revenue, Refunding <br> RB, Series C, VRDN, (PNC Bank NA LOC), 3.30%, <br> 01/07/26<sup>(i)</sup><br>|  | 7400 | 7400000 |
|  |  |  | 9400000 |
| **Texas — 0.2%** | **Texas — 0.2%** | **Texas — 0.2%** | **Texas — 0.2%** |
| &nbsp;&nbsp;&nbsp; Harris County Cultural Education Facilities Finance <br> Corp., RB, Series 3, VRDN, (TD Bank NA LOC), <br> 2.35%, 01/07/26<sup>(i)</sup><br>|  | 1170 | 1170000 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Wisconsin — 0.2%** | **Wisconsin — 0.2%** | **Wisconsin — 0.2%** | **Wisconsin — 0.2%** |
| &nbsp;&nbsp;&nbsp; Wisconsin Housing & EDA Housing Revenue, RB, <br> Series C, VRDN, (Federal Home Loan Bank SBPA), <br> 3.35%, 01/07/26<sup>(i)</sup><br>| USD  | 1000 | $1000000 |
| **Wyoming — 0.7%** | **Wyoming — 0.7%** | **Wyoming — 0.7%** | **Wyoming — 0.7%** |
| &nbsp;&nbsp;&nbsp; Wyoming Community Development Authority, Refunding <br> RB, Series 2, VRDN, (GNMA/FNMA/FHLMC COL), <br> (Barclays Bank plc SBPA), 3.30%, 01/07/26<sup>(i)</sup><br>|  | 4200 | 4200000 |
| **Total Short-Term Securities — 7.9%** <br>**(Cost: $45,010,000)** | **Total Short-Term Securities — 7.9%** <br>**(Cost: $45,010,000)** | **Total Short-Term Securities — 7.9%** <br>**(Cost: $45,010,000)** | 45010000 |
| **Total Investments — 104.8%** <br>**(Cost: $612,852,941)** | **Total Investments — 104.8%** <br>**(Cost: $612,852,941)** | **Total Investments — 104.8%** <br>**(Cost: $612,852,941)** | 596231221 |
| **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | 2320291 |
| **Liability for TOB Trust Certificates,** <br>**Including Interest Expense and Fees Payable — (5.2)%** | **Liability for TOB Trust Certificates,** <br>**Including Interest Expense and Fees Payable — (5.2)%** | **Liability for TOB Trust Certificates,** <br>**Including Interest Expense and Fees Payable — (5.2)%** | (29615855)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $568935657 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> Zero-coupon bond.

<sup>(e)</sup> When-issued security.

<sup>(f)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(g)</sup> Non-income producing security.

<sup>(h)</sup> Represents bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. 

<sup>(i)</sup> Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $363333 | &nbsp;&nbsp; $363333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds  | &nbsp;&nbsp; — | &nbsp;&nbsp; 96880 | &nbsp;&nbsp; — | &nbsp;&nbsp; 96880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 507542015 | &nbsp;&nbsp; — | &nbsp;&nbsp; 507542015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; 43218992 | &nbsp;&nbsp; — | &nbsp;&nbsp; 43218992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants  | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 45010000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 45010000 |
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $595867888 | &nbsp;&nbsp; $363333 | &nbsp;&nbsp; $596231221 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**BATS: High Income Municipal Series**

**(Formerly BATS: Series E Portfolio)**

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, TOB Trust Certificates of $29,425,000 are categorized as Level 2 within the fair value hierarchy.

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| USD | United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGM | Assured Guaranty Municipal Corp. |
| AMT | Alternative Minimum Tax |
| COL | Collateralized |
| EDA | Economic Development Authority |
| EDC | Economic Development Corp. |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation Bonds |
| GTD | Guaranteed |
| HFA | Housing Finance Agency |
| IDA | Industrial Development Authority |
| IDB | Industrial Development Board |
| IDC | Industrial Development Corp. |
| ISD | Independent School District |
| LOC | Letter of Credit |
| RB | Revenue Bonds |
| SBPA | Stand-By Bond Purchase Agreements |
| TA | Tax Allocation |
| VRDN | Variable Rate Demand Note  |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Allocation Target Shares

- **b. Investment Company Act file number:** 811-21457

- **c. CIK number of Registrant:** 0001221845

- **d. LEI of Registrant:** 549300R5YFYF3PL2MC94

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BATS: High Income Municipal Series

- **b. EDGAR series identifier (if any):** S000046220

- **c. LEI of Series:** 549300NDUFCM60JJ4W37

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $603584276.53

**Total Liabilities:** $35016134.94

**Net Assets:** $568568141.59

**Delayed Delivery Securities:** $2468475.00

**Cash Not Reported:** $345214.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 37086.46000000 | **1-Year:** 2681.88000000 | **5-Year:** 20850.31000000 | **10-Year:** 41695.37000000 | **30-Year:** 86050.96000000

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

- **3-Month:** 5606.02000000 | **1-Year:** 4706.01000000 | **5-Year:** 42956.08000000 | **10-Year:** 87023.64000000 | **30-Year:** 154382.88000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144517 | 1.13%                | 0.59%                | -0.37%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-337837.16              | $3767865.18                                |
| Month 2  | $-1405106.40             | $2417148.95                                |
| Month 3  | $-252164.43              | $-3804438.67                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEK7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    486347 | PA      | $324636.62    | 0.06%             | 2018-01-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BUDA TX SPL ASSMNT REVENUE                                                     | City of Buda TX                                                                  | CUSIP: 118829AF7<br>LEI: 549300M2WWWL7K4QS327 | Long             | DBT              | MUN               | US        |    685000 | PA      | $675904.84    | 0.12%             | 2055-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEG6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    940000 | PA      | $627450.00    | 0.11%             | 2022-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH E                                                 | Kansas City Industrial Development Authority                                     | CUSIP: 48502MAA1<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    290000 | PA      | $282518.09    | 0.05%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR SCH DIST #12                                                 | Clackamas County School District No 12 North Clackamas                           | CUSIP: 179093LA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $17659.22     | 0.00%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN                                                 | New Jersey Higher Education Student Assistance Authority                         | CUSIP: 646080YB1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    275000 | PA      | $274710.81    | 0.05%             | 2045-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I                                                 | Indianapolis Local Public Improvement Bond Bank                                  | CUSIP: 45528U6X4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    400000 | PA      | $416959.28    | 0.07%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                                                 | New York Transportation Development Corp                                         | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1053273.73   | 0.19%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RSD                                                 | Virginia Beach Development Authority                                             | CUSIP: 92774NBB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $395088.95    | 0.07%             | 2053-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS CNTY NE HOSP AUTH #3                                                   | Douglas County Hospital Authority No 3                                           | CUSIP: 259234DG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $270080.97    | 0.05%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH                                                 | Brevard County Health Facilities Authority                                       | CUSIP: 107416PE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $472077.75    | 0.08%             | 2026-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE TX HGR EDU FIN CORP E                                                 | New Hope Higher Education Finance Corp                                           | CUSIP: 645438AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $865596.77    | 0.15%             | 2051-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESTCREEK MET DIST #2 CO                                                       | Westcreek Metropolitan District No 2                                             | CUSIP: 95752TAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494021.95    | 0.09%             | 2048-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HILLCREST PRESERVE CDD FL SPL                                                  | Hillcrest Preserve Community Development District                                | CUSIP: 43153EAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $261051.26    | 0.05%             | 2054-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL                                                  | Black Belt Energy Gas District                                                   | CUSIP: 09182TEV5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1300548.19   | 0.23%             | 2056-05-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| MARION RANCH CDD FL SPL ASSMNT                                                 | Marion Ranch Community Development District                                      | CUSIP: 570001AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $279621.38    | 0.05%             | 2054-05-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CRANDALL TX SPL ASSMNT REVENUE                                                 | City of Crandall TX                                                              | CUSIP: 224384AV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $297417.24    | 0.05%             | 2055-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CELINA TX SPL ASSESSMENT REVEN                                                 | City of Celina TX                                                                | CUSIP: 15114CKR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $108905.29    | 0.02%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LAVON TX SPL ASSMT REVENUE                                                     | City of Lavon TX                                                                 | CUSIP: 51946PCP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $297604.56    | 0.05%             | 2055-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH EC                                                 | New Jersey Economic Development Authority                                        | CUSIP: 64577HMN8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65369.94     | 0.01%             | 2031-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP TN GAS REVENUE                                                   | Tennergy Corp/TN                                                                 | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2488478.17   | 0.44%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH ENVIRONM                                                 | Arkansas Development Finance Authority                                           | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001009.00   | 0.35%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| MCKENDREE POINTE CDD FL CAPITA                                                 | Mckendree Pointe Community Development District                                  | CUSIP: 581515AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $397792.16    | 0.07%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION                                                  | Texas Transportation Commission State Highway 249 System                         | CUSIP: 88283NAM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $296315.45    | 0.05%             | 2042-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH E                                                 | Kansas City Industrial Development Authority                                     | CUSIP: 48502MAB9<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    185000 | PA      | $174514.66    | 0.03%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KFT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106230.29    | 0.02%             | 2054-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                                                    | City of Houston TX Airport System Revenue                                        | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1301437.41   | 0.23%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R                                                 | Tobacco Settlement Financing Corp/RI                                             | CUSIP: 888809AH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1715000 | PA      | $249021.43    | 0.04%             | 2052-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396GB2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    875000 | PA      | $726683.04    | 0.13%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFJ9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    425597 | PA      | $284086.00    | 0.05%             | 2020-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                                                           | Stamford Housing Authority                                                       | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $258957.97    | 0.05%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL FAC REV                                                 | Public Finance Authority                                                         | CUSIP: 74446DAJ7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    560000 | PA      | $460738.32    | 0.08%             | 2054-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A                                                 | South Carolina Public Service Authority                                          | CUSIP: 837151RU5<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    200000 | PA      | $172960.14    | 0.03%             | 2056-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                                                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837031H97<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1275755.80   | 0.22%             | 2060-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TCN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $484261.55    | 0.09%             | 2032-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SENIOR LIVI                                                 | Public Finance Authority                                                         | CUSIP: 74443UBC6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1071408.45   | 0.19%             | 2052-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH ENVIRONM                                                 | Arkansas Development Finance Authority                                           | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $354901.12    | 0.06%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                                                 | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | CUSIP: 74529JQW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    477000 | PA      | $159645.79    | 0.03%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AURORA CROSSROADS MET DIST NO                                                  | Aurora Crossroads Metropolitan District No 2                                     | CUSIP: 05162QAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2050447.01   | 0.36%             | 2055-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $606592.48    | 0.11%             | 2037-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PD28<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1672599 | PA      | $1676024.11   | 0.29%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MANHATTAN KS HLTH CARE FAC REV                                                 | City of Manhattan KS                                                             | CUSIP: 563017EL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200255.32    | 0.04%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061UBQ0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45010.63     | 0.01%             | 2044-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PEU5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    195000 | PA      | $19500.00     | 0.00%             | 2031-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CELINA TX SPL ASSESSMENT REVEN                                                 | City of Celina TX                                                                | CUSIP: 15114CKQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100312.78    | 0.02%             | 2045-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                                                 | New York Liberty Development Corp                                                | CUSIP: 649519DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $470037.82    | 0.08%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KFS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102097.13    | 0.02%             | 2044-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| LOWER MAGNOLIA GREEN VA CMNTY                                                  | Lower Magnolia Green Community Development Authority                             | CUSIP: 548207AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230051.08    | 0.04%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF                                                 | California Municipal Finance Authority                                           | CUSIP: 130483KQ2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504927.35   | 0.26%             | 2037-12-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO                                                 | Utah Infrastructure Agency                                                       | CUSIP: 917467DC3<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    115000 | PA      | $117941.60    | 0.02%             | 2048-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| POITRAS EAST CDD FL SPL ASSMNT                                                 | Poitras East Community Development District                                      | CUSIP: 73086BAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $362593.34    | 0.06%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFK6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    840347 | PA      | $560931.62    | 0.10%             | 2020-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RIDGES ESTATES INFRASTRUCTURE                                                  | Ridges Estates Infrastructure Financing District                                 | CUSIP: 76610DAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1459391.38   | 0.26%             | 2053-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IBIS LANDING CDD FL SPL ASSMNT                                                 | Ibis Landing Community Development District                                      | CUSIP: 451075AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104054.70    | 0.02%             | 2045-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ENNIS TX SPL ASSMNT REVENUE                                                    | City of Ennis TX                                                                 | CUSIP: 293470AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $196684.90    | 0.03%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HLTH CARE FACS F                                                 | New Jersey Health Care Facilities Financing Authority                            | CUSIP: 645790QD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1065000 | PA      | $975429.88    | 0.17%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE WTR & SANTN DIST                                                  | Elbert County Independence Water & Sanitation District                           | CUSIP: 45380AAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517928.65    | 0.09%             | 2033-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                                                 | Kentucky Public Energy Authority                                                 | CUSIP: 74440DCM4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2340053.79   | 0.41%             | 2050-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SOL WS                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061XAF9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1380960.35   | 0.24%             | 2032-07-01      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| EAST CENTRL VT TELECOMMUNICATI                                                 | East Central Vermont Telecommunications District                                 | CUSIP: 271524BA7<br>LEI: 549300UHVQS0JED3EZ33 | Long             | DBT              | MUN               | US        |    785000 | PA      | $828819.33    | 0.15%             | 2046-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                                                 | Public Finance Authority                                                         | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    315000 | PA      | $325058.04    | 0.06%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AURORA CROSSROADS MET DIST NO                                                  | Aurora Crossroads Metropolitan District No 2                                     | CUSIP: 05162QAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $532056.00    | 0.09%             | 2055-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PG58<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    795000 | PA      | $368343.85    | 0.06%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDG7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    325000 | PA      | $216937.50    | 0.04%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HASTINGS CAMPUS HSG FIN AUTH C                                                 | Hastings Campus Housing Finance Authority                                        | CUSIP: 418338AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $510334.01    | 0.09%             | 2061-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YAA3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    300000 | PA      | $200250.00    | 0.04%             | 2031-07-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ARKANSAS ST DEV FIN AUTH INDL                                                  | Arkansas Development Finance Authority                                           | CUSIP: 04108WCC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1164658.56   | 0.20%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                                                       | Minnesota Housing Finance Agency                                                 | CUSIP: 60416TYA0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    540000 | PA      | $571759.45    | 0.10%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO                                                 | Utah Infrastructure Agency                                                       | CUSIP: 917467DB5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    120000 | PA      | $125151.83    | 0.02%             | 2044-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HAMMOCK OAKS CDD FL ASSMNT                                                     | Hammock Oaks Community Development District                                      | CUSIP: 40834PAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $244918.99    | 0.04%             | 2044-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LORETTO HEIGHTS CMNTY AUTH CO                                                  | Loretto Heights Community Authority                                              | CUSIP: 544084AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $450818.93    | 0.08%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TIMBERHP BY GO LAB INC                                                         | TIMBERHP BY GO LAB INC                                                           | CUSIP: 886934108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90157 | NS      | $363332.71    | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| HAMPTON ROADS VA TRANSPRTN ACC                                                 | Hampton Roads Transportation Accountability Commission                           | CUSIP: 409328AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $256258.63    | 0.05%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                                                   | Illinois Finance Authority                                                       | CUSIP: 45204FT96<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    600000 | PA      | $598980.96    | 0.11%             | 2055-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSONC                                                 | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592041YP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $180437.38    | 0.03%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH SWR REVENUE                                                        | City of Columbus OH Sewerage Revenue                                             | CUSIP: 199561FU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.35%             | 2032-06-01      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| LOWER MAGNOLIA GREEN VA CMNTY                                                  | Lower Magnolia Green Community Development Authority                             | CUSIP: 548207AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $82412.45     | 0.01%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS ST DEV FIN AUTH INDL                                                  | Arkansas Development Finance Authority                                           | CUSIP: 04108WCD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1379065.16   | 0.24%             | 2049-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CRANDALL TX SPL ASSMNT REVENUE                                                 | City of Crandall TX                                                              | CUSIP: 224384AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98951.18     | 0.02%             | 2045-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SHADOWLAWN CDD FL SPL ASSMNT R                                                 | Shadowlawn Community Development District                                        | CUSIP: 818820AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $818520.23    | 0.14%             | 2054-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ORCHARD PARK PLACE SOUTH MET D                                                 | Orchard Park Place South Metropolitan District                                   | CUSIP: 685655AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $941167.86    | 0.17%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST DEV FIN AUTH                                                       | Oklahoma Development Finance Authority                                           | CUSIP: 6789083V4<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   3290000 | PA      | $3271008.48   | 0.58%             | 2051-09-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IBIS LANDING CDD FL SPL ASSMNT                                                 | Ibis Landing Community Development District                                      | CUSIP: 451075AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128612.69    | 0.02%             | 2055-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SOL WS                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061XAG7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    680000 | PA      | $687898.54    | 0.12%             | 2054-10-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU                                                 | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $307229.08    | 0.05%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENNIS TX SPL ASSMNT REVENUE                                                    | City of Ennis TX                                                                 | CUSIP: 293470AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99071.44     | 0.02%             | 2045-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                                                 | Public Finance Authority                                                         | CUSIP: 74448UAA6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1647339.90   | 0.29%             | 2060-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CRANDALL TX SPL ASSMNT REVENUE                                                 | City of Crandall TX                                                              | CUSIP: 224384AU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989511.80    | 0.17%             | 2045-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                                                 | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4712818.00   | 0.83%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFM2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    144996 | PA      | $96784.83     | 0.02%             | 2020-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RSD                                                 | Virginia Beach Development Authority                                             | CUSIP: 92774NBF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $237686.99    | 0.04%             | 2029-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &                                                 | California Infrastructure & Economic Development Bank                            | CUSIP: 13034A7E4<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |  14260000 | PA      | $10552400.00  | 1.86%             | 2065-01-01      | Variable      | 12.00%                | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061WBM5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    300000 | PA      | $233562.93    | 0.04%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                                                  | Capital Trust Authority                                                          | CUSIP: 14054WDB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498767.45    | 0.09%             | 2055-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST ECON DEV FIN AUT                                                 | Washington Economic Development Finance Authority                                | CUSIP: 93975XAA1<br>LEI: 549300TQ7IXFA28IYO51 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004489.00   | 0.18%             | 2045-12-01      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                                                   | Illinois Finance Authority                                                       | CUSIP: 45200FFQ7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 0.44%             | 2038-11-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                                                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399PJ9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    150000 | PA      | $134945.30    | 0.02%             | 2062-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEJ0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     65000 | PA      | $43387.50     | 0.01%             | 2024-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO INDL DEV AUTH F                                                 | Industrial Development Authority of the City of St Louis Missouri/The            | CUSIP: 85236BAB8<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |    215000 | PA      | $201904.59    | 0.04%             | 2035-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH EDU                                                 | Industrial Development Authority of the County of Pima/The                       | CUSIP: 72177MUQ8<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    625000 | PA      | $484740.44    | 0.09%             | 2051-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                                                 | New York Counties Tobacco Trust VI                                               | CUSIP: 64945JAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $702774.74    | 0.12%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S                                                 | Mobile County Industrial Development Authority                                   | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3220000 | PA      | $2953849.29   | 0.52%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PIONEER RANCH CDD FL SPL ASSMN                                                 | Pioneer Ranch Community Development District                                     | CUSIP: 723846AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $953290.46    | 0.17%             | 2055-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NY LOCAL DEV CORP R                                                 | Huntington Local Development Corp                                                | CUSIP: 446490AR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $100786.41    | 0.02%             | 2056-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sabine-Neches Navigation District                                              | Sabine-Neches Navigation District (TOBs)                                         | CUSIP: 78532EAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5202148.00   | 0.91%             | 2052-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU                                                 | Texas Private Activity Bond Surface Transportation Corp                          | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1087868.78   | 0.19%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA TOBACCO SETTL                                                 | District of Columbia Tobacco Settlement Financing Corp                           | CUSIP: 254842BD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17300000 | PA      | $1702152.19   | 0.30%             | 2055-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WINDWARD AT LAKEWOOD RANCH CDD                                                 | Windward at Lakewood Ranch Community Development District                        | CUSIP: 97382EAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $343845.65    | 0.06%             | 2052-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BRIGHTLINE WEST EQUITY WARRANTS                                                | BRIGHTLINE WEST EQUITY WARRANTS                                                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |    118620 | NC      | $1.19         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CYPRESS CREEK RESERVE CDD FL S                                                 | Cypress Creek Reserve Community Development District                             | CUSIP: 23274FAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $308968.86    | 0.05%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA REDEV & HSG AUTH RE                                                 | Norfolk Redevelopment & Housing Authority                                        | CUSIP: 655909CM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $332965.01    | 0.06%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARKER ROAD FL CDD CAPITAL IMP                                                 | Parker Road Community Development District                                       | CUSIP: 701123AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $323351.58    | 0.06%             | 2030-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDJ1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    160000 | PA      | $106800.00    | 0.02%             | 2022-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL                                                  | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DYW6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    775000 | PA      | $751591.67    | 0.13%             | 2054-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S                                                 | Mobile County Industrial Development Authority                                   | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5740000 | PA      | $5478319.14   | 0.96%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA                                                 | Wisconsin Health & Educational Facilities Authority                              | CUSIP: 97712JJE4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    350000 | PA      | $359208.26    | 0.06%             | 2054-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRESERVE AT S BRANCH CDD FL SP                                                 | Preserve at South Branch Community Development District                          | CUSIP: 74082PAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $170655.16    | 0.03%             | 2030-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HGR EDU ASSISTANC                                                 | Pennsylvania Higher Education Assistance Agency                                  | CUSIP: 70878CAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $713176.76    | 0.13%             | 2047-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YCP8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    545000 | PA      | $363787.50    | 0.06%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH EDUCTNL F                                                 | Illinois Finance Authority                                                       | CUSIP: 452029AJ0<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    300000 | PA      | $305400.21    | 0.05%             | 2035-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                                                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WDR5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   7255000 | PA      | $610290.60    | 0.11%             | 2061-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU                                                 | County of Allen OH Hospital Facilities Revenue                                   | CUSIP: 01757LHJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7400000 | PA      | $7400000.00   | 1.30%             | 2050-11-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PP66<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1811428.62   | 0.32%             | 2061-01-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEL5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     49170 | PA      | $32820.98     | 0.01%             | 2020-01-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CROSSINGS CDD FL SPL ASSMNT                                                    | Crossings Community Development District                                         | CUSIP: 22766NAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140254.13    | 0.02%             | 2054-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH                                                 | Brevard County Health Facilities Authority                                       | CUSIP: 107416PJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $538245.05    | 0.09%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MET DIST #3 CO                                                    | Independence Metropolitan District No 3                                          | CUSIP: 453625AE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500381.20    | 0.09%             | 2054-12-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                                                  | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UGG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $820101.92    | 0.14%             | 2052-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ANNA TX SPL ASSMNT REVENUE                                                     | City of Anna TX                                                                  | CUSIP: 035713BE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002059.10   | 0.18%             | 2045-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                             | New York State Dormitory Authority (TOBs)                                        | CUSIP: 64990KHB2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4365000 | PA      | $4498535.29   | 0.79%             | 2054-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LINCOLNWOOD IL TAX INCREMENT A                                                 | Village of Lincolnwood Il                                                        | CUSIP: 53509AAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $268974.15    | 0.05%             | 2043-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HGR EDU ASSISTANC                                                 | Pennsylvania Higher Education Assistance Agency                                  | CUSIP: 70878CBJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $159319.12    | 0.03%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396FT4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    880000 | PA      | $752086.37    | 0.13%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU                                                 | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UTS3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1257339.72   | 0.22%             | 2059-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE                                                 | County of Osceola FL Transportation Revenue                                      | CUSIP: 688031FC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $280587.96    | 0.05%             | 2047-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI ARPT FACS R                                                 | Public Finance Authority                                                         | CUSIP: 74443CAC7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750145.43    | 0.13%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PQ81<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1520000 | PA      | $467054.66    | 0.08%             | 2042-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX NAV DIST DOCK                                                 | Port of Beaumont Navigation District                                             | CUSIP: 73360CAS3<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    850000 | PA      | $853311.35    | 0.15%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH EDU                                                 | Industrial Development Authority of the County of Pima/The                       | CUSIP: 72177MTQ0<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    295000 | PA      | $229578.20    | 0.04%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                                                    | City of Houston TX Airport System Revenue                                        | CUSIP: 442349DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1433103.27   | 0.25%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KCR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $221674.93    | 0.04%             | 2029-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PINEY LAKE TRAILS MET DIST #1                                                  | Piney Lake Trails Metropolitan District No 1                                     | CUSIP: 72341MAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502423.70    | 0.09%             | 2055-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PPT6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    625000 | PA      | $613760.88    | 0.11%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783U53<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    200000 | PA      | $192388.42    | 0.03%             | 2053-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH                                                 | Maricopa County Industrial Development Authority                                 | CUSIP: 56678RAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $244755.70    | 0.04%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GOLD HILL NORTH BUSINESS IMPT                                                  | Gold Hill North Business Improvement District                                    | CUSIP: 38061PAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $490380.85    | 0.09%             | 2054-12-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD FING AUTH T                                                 | California Statewide Financing Authority                                         | CUSIP: 130923AR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $315697.25    | 0.06%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI MENTAL HLTH                                                 | Public Finance Authority                                                         | CUSIP: 74443XAC1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $688232.24    | 0.12%             | 2051-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                                                 | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    496000 | PA      | $375592.13    | 0.07%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ANNA TX SPL ASSMNT REVENUE                                                     | City of Anna TX                                                                  | CUSIP: 035713BF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200421.24    | 0.04%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OKALOOSA CNTY FL INDL DEV REVE                                                 | County of Okaloosa FL                                                            | CUSIP: 678226AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $453933.14    | 0.08%             | 2060-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BRADDOCK LAKES CDD FL CAPITAL                                                  | Braddock Lakes Community Development District                                    | CUSIP: 104026AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $649214.32    | 0.11%             | 2055-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE                                                 | County of Osceola FL Transportation Revenue                                      | CUSIP: 688031FH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $121830.56    | 0.02%             | 2052-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONNERTON EAST CDD FL SPL ASSM                                                 | Connerton East Community Development District                                    | CUSIP: 208185AL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100049.09    | 0.02%             | 2045-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA TOBACCO SETTL                                                 | District of Columbia Tobacco Settlement Financing Corp                           | CUSIP: 254842BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $140328.38    | 0.02%             | 2046-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MET DIST #3 CO                                                    | Independence Metropolitan District No 3                                          | CUSIP: 453625AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $680288.93    | 0.12%             | 2054-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECON DEV AU                                                 | James City County Economic Development Authority                                 | CUSIP: 47029WEG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $372349.29    | 0.07%             | 2058-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL ARPT REVENUE                                                       | County of Lee FL Airport Revenue                                                 | CUSIP: 523470HW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2214008.30   | 0.39%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFW0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    235000 | PA      | $156862.50    | 0.03%             | 2019-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARTINSBURG WV MF HSG REVENUE                                                  | City of Martinsburg WV                                                           | CUSIP: 573612AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $417225.09    | 0.07%             | 2043-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEU5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    220000 | PA      | $146850.00    | 0.03%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                                                 | New York Transportation Development Corp                                         | CUSIP: 650116CW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    865000 | PA      | $902525.86    | 0.16%             | 2036-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SKYRIDGE PEGASUS INFRASTRUCTUR                                                 | SkyRidge Pegasus Infrastructure Financing District                               | CUSIP: 83089AAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1129547.00   | 0.20%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783U61<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    160000 | PA      | $154742.59    | 0.03%             | 2059-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061UGX0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2490000 | PA      | $2076085.81   | 0.37%             | 2055-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH                                                 | Maricopa County Industrial Development Authority                                 | CUSIP: 56678RAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $222564.58    | 0.04%             | 2051-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDT9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    125000 | PA      | $83437.50     | 0.01%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU                                                 | Wisconsin Housing & Economic Development Authority Housing Revenue               | CUSIP: 976904M25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.18%             | 2046-05-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SC                                                 | New Jersey Economic Development Authority                                        | CUSIP: 645912DN3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250013.20    | 0.04%             | 2049-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTHS                                                 | Louisiana Public Facilities Authority                                            | CUSIP: 54640TAM1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    505000 | PA      | $530770.55    | 0.09%             | 2053-10-01      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PP41<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1206000 | PA      | $784211.15    | 0.14%             | 2032-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLUB MUNI MGMT DIST #1 TX SPL                                                  | Club Municipal Management District No 1                                          | CUSIP: 18948PAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180292.63    | 0.03%             | 2055-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TDE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197696.72    | 0.03%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA TOBACCO SETTL                                                 | District of Columbia Tobacco Settlement Financing Corp                           | CUSIP: 254842BC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10325000 | PA      | $2227951.22   | 0.39%             | 2046-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PA70<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1920000 | PA      | $1951682.30   | 0.34%             | 2043-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FORT BEND CNTY TX INDL DEV COR                                                 | Fort Bend County Industrial Development Corp                                     | CUSIP: 346786AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1465152.36   | 0.26%             | 2042-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU                                                 | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UTU8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   3590000 | PA      | $4067462.10   | 0.72%             | 2059-02-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  22078074 | PA      | $12915673.21  | 2.27%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| BEAUMONT TX HSG AUTH RSDL DEV                                                  | Beaumont Housing Authority                                                       | CUSIP: 07451AAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $340829.50    | 0.06%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH                                                 | Brevard County Health Facilities Authority                                       | CUSIP: 107416PG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $500692.81    | 0.09%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL CT FIN AUTH                                                     | Mohegan Tribal Finance Authority                                                 | CUSIP: 608327AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2449093.73   | 0.43%             | 2045-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A                                                 | City of Los Angeles Department of Airports                                       | CUSIP: 544445VD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3561849.20   | 0.63%             | 2051-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH HLTH FACS REV                                                 | Iowa Finance Authority                                                           | CUSIP: 462466FZ1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    570000 | PA      | $525831.78    | 0.09%             | 2046-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEV3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    600000 | PA      | $400500.00    | 0.07%             | 2036-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RUSTIC OAKS CMNTY DEV DIST FL                                                  | Rustic Oaks Community Development District                                       | CUSIP: 783089AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $314258.10    | 0.06%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                                                 | Public Finance Authority                                                         | CUSIP: 74442EFA3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    840000 | PA      | $751928.44    | 0.13%             | 2049-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CATTARAUGUS CNTY NY CAPITAL RE                                                 | County of Cattaraugus NY                                                         | CUSIP: 14946TAP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $195067.68    | 0.03%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YAG0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    177018 | PA      | $118159.52    | 0.02%             | 2019-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH S                                                 | Kansas City Industrial Development Authority                                     | CUSIP: 48504LAE3<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |     51924 | PA      | $5.19         | 0.00%             | 2046-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH SENIOR                                                 | Tulsa County Industrial Authority                                                | CUSIP: 899530BA6<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    965000 | PA      | $964677.88    | 0.17%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL INDL DEV AUTH HLTH                                                 | Lee County Industrial Development Authority/FL                                   | CUSIP: 52349EER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $261688.26    | 0.05%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PPR0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $605327.78    | 0.11%             | 2035-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BRIDGEVILLE DE SPL OBLIG                                                       | Town of Bridgeville DE                                                           | CUSIP: 108588AN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100384.29    | 0.02%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA                                                 | Harris County Cultural Education Facilities Finance Corp                         | CUSIP: 414009SA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1170000.00   | 0.21%             | 2045-10-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| BALDWIN CNTY AL INDL DEV AUTH                                                  | Baldwin County Industrial Development Authority                                  | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1728002.84   | 0.30%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVERPARK MET DIST CO LIMITED                                                  | Riverpark Metropolitan District/Arapahoe County                                  | CUSIP: 76883BAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509888.25    | 0.09%             | 2042-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                                                 | Colorado Health Facilities Authority                                             | CUSIP: 19648FTG9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    270000 | PA      | $218909.30    | 0.04%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                                                  | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UFJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $167004.44    | 0.03%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                                                 | Public Finance Authority                                                         | CUSIP: 74442EML1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    345000 | PA      | $329511.16    | 0.06%             | 2060-04-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PD93<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1280620 | PA      | $1278733.83   | 0.22%             | 2032-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GREENBRIAR CDD FL SPL ASSMNT R                                                 | Greenbriar Community Development District                                        | CUSIP: 39364TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $187243.24    | 0.03%             | 2045-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| PORT OF MORROW OR                                                              | Port of Morrow OR                                                                | CUSIP: 73473RFG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3515000 | PA      | $3515535.69   | 0.62%             | 2026-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396EW8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1283247.67   | 0.23%             | 2049-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TOLOMATO FL CDD                                                                | Tolomato Community Development District                                          | CUSIP: 889560FB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $584147.22    | 0.10%             | 2054-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                                    | City of New York NY                                                              | CUSIP: 64966MGC7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1645000.00   | 0.29%             | 2044-08-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFQ3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    250000 | PA      | $166875.00    | 0.03%             | 2020-07-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| LAVON TX SPL ASSMT REVENUE                                                     | City of Lavon TX                                                                 | CUSIP: 51946PCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $753075.53    | 0.13%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                                                 | New York Transportation Development Corp                                         | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5168034.50   | 0.91%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BLY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $241668.63    | 0.04%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU                                                 | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645UEP5<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96731.01     | 0.02%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OH POR                                                 | Cleveland-Cuyahoga County Port Authority                                         | CUSIP: 18610RCE2<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    145000 | PA      | $148384.37    | 0.03%             | 2039-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL MF HSG REVENUE                                                    | County of Cook IL                                                                | CUSIP: 213226AE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1135048.16   | 0.20%             | 2045-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH S                                                 | Kansas City Industrial Development Authority                                     | CUSIP: 48504LAD5<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |    116345 | PA      | $44211.15     | 0.01%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400DW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300357.45    | 0.05%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PORTICO FL CDD SPL ASSMNT REVE                                                 | Portico Community Development District                                           | CUSIP: 73641TAE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96757.32     | 0.02%             | 2031-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KBT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $369140.89    | 0.06%             | 2048-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GROUP FING AGY                                                 | Patriots Energy Group Financing Agency                                           | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1880000 | PA      | $2008855.20   | 0.35%             | 2054-10-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BLZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $245310.64    | 0.04%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH                                                 | Brevard County Health Facilities Authority                                       | CUSIP: 107416PN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $611587.73    | 0.11%             | 2034-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST EDUCTNL & CULTURAL                                                 | Colorado Educational & Cultural Facilities Authority                             | CUSIP: 19645RB42<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |    500000 | PA      | $484926.90    | 0.09%             | 2045-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN GROVE CMNTY DEV DIST                                                  | Southern Groves Community Development District No 5                              | CUSIP: 843021AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $351425.10    | 0.06%             | 2034-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| EAST PT GA BUSINESS & INDL DEV                                                 | East Point Business & Industrial Development Authority                           | CUSIP: 274502AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $90000.00     | 0.02%             | 2062-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT                                                 | North Carolina Turnpike Authority                                                | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    985000 | PA      | $1005942.48   | 0.18%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TCM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $218948.69    | 0.04%             | 2031-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HSG FIN AGY LTD OBL                                                 | California Housing Finance Agency                                                | CUSIP: 13034DAV6<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1592855.15   | 0.28%             | 2067-07-01      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| HEMPSTEAD TOWN NY LOCAL DEV CO                                                 | Hempstead Town Local Development Corp                                            | CUSIP: 424682GE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500023.15    | 0.09%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV                                                  | Westchester County Local Development Corp                                        | CUSIP: 95737TES1<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    510000 | PA      | $508318.94    | 0.09%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PPS8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  19530000 | PA      | $1800234.39   | 0.32%             | 2060-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COLORADO SPRINGS CO UTILITIES                                                  | City of Colorado Springs CO Utilities System Revenue                             | CUSIP: 196632BK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.35%             | 2037-11-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| BASELINE MET DIST #1 CO SPL RE                                                 | Baseline Metropolitan District No 1                                              | CUSIP: 069826AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $532570.08    | 0.09%             | 2054-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396FX5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    550000 | PA      | $422792.54    | 0.07%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOYLESTOWN PA HOSP AUTH                                                        | Doylestown Hospital Authority                                                    | CUSIP: 261333HJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $319521.88    | 0.06%             | 2039-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396GZ9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    145000 | PA      | $121834.68    | 0.02%             | 2056-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                                                 | Colorado Health Facilities Authority                                             | CUSIP: 19648FTF1<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $234825.90    | 0.04%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GAS WORX CDD FL SPL ASSMNT                                                     | Gas Worx Community Development District                                          | CUSIP: 367200AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $461471.58    | 0.08%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                 | Black Belt Energy Gas District (TOBs)                                            | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2470518.18   | 0.43%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFR1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     42010 | PA      | $28041.68     | 0.00%             | 2019-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LOWERY HILLS CDD FL SPL ASSMNT                                                 | Lowery Hills Community Development District                                      | CUSIP: 548652AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220411.16    | 0.04%             | 2055-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| TOLOMATO FL CDD                                                                | Tolomato Community Development District                                          | CUSIP: 889560FA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $588618.66    | 0.10%             | 2044-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEP6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    110000 | PA      | $73425.00     | 0.01%             | 2017-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO INDL DEV AUTH S                                                 | Kansas City Industrial Development Authority                                     | CUSIP: 48504LAG8<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |     64037 | PA      | $64037.00     | 0.01%             | 2046-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVRNMNTL                                                  | Indiana Finance Authority                                                        | CUSIP: 455054BD7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    640000 | PA      | $715837.12    | 0.13%             | 2039-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WESTSIDE HAINES CITY CDD SPL A                                                 | Westside Haines City Community Development District                              | CUSIP: 96150AAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $168863.13    | 0.03%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2304178.11   | 0.41%             | 2035-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE                                                 | County of Osceola FL Transportation Revenue                                      | CUSIP: 688031FD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $186139.14    | 0.03%             | 2048-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400CP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50247.82     | 0.01%             | 2031-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SEAGOVILLE TX SPL ASSMNT REVEN                                                 | City of Seagoville TX                                                            | CUSIP: 811829AG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $250968.47    | 0.04%             | 2054-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ANTILLIA CDD FL SPL ASSMNT                                                     | Antillia Community Development District                                          | CUSIP: 03706FAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $192887.45    | 0.03%             | 2054-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARROWHEAD SPRINGS PUB INFRASTR                                                 | Arrowhead Springs Public Infrastructure District                                 | CUSIP: 04280CAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1797000 | PA      | $1798124.92   | 0.32%             | 2056-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                         | New York City Housing Development Corp (TOBs)                                    | CUSIP: 64972CMP5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990422.80    | 0.17%             | 2045-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NORTH RANGE MET DIST #3 CO                                                     | North Range Metropolitan District No 3                                           | CUSIP: 66176NAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501668.05    | 0.09%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                                                 | Utah Charter School Finance Authority                                            | CUSIP: 91754TC76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $200267.28    | 0.04%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LTC RANCH WEST RSDL CMNTY DEV                                                  | LTC Ranch West Residential Community Development District                        | CUSIP: 50218SAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $116831.87    | 0.02%             | 2044-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE CA TOBACCO SECUR                                                 | Inland Empire Tobacco Securitization Corp                                        | CUSIP: 45734TAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3845000 | PA      | $1885632.22   | 0.33%             | 2036-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM                                                 | North Carolina Medical Care Commission                                           | CUSIP: 65820YVN3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511133.15   | 0.27%             | 2056-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KISSIMMEE PARK CDD FL CAPITAL                                                  | Kissimmee Park Community Development District                                    | CUSIP: 497859AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $279637.79    | 0.05%             | 2045-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783Q74<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    190000 | PA      | $188081.10    | 0.03%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                                                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399SZ0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3635000 | PA      | $3745315.71   | 0.66%             | 2064-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396FW7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    210000 | PA      | $182984.55    | 0.03%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                                                    | Indiana Finance Authority                                                        | CUSIP: 45506EQT3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073559.60   | 0.19%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO AVIATION AUTH FL S                                                 | Greater Orlando Aviation Authority                                               | CUSIP: 39227AAD4<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    280000 | PA      | $302242.56    | 0.05%             | 2037-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400CQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97970.44     | 0.02%             | 2044-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MILTON DE SPL OBLIG                                                            | Town of Milton DE                                                                | CUSIP: 601792AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151447.29    | 0.03%             | 2044-09-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BANNING LEWIS RANCH MET DIST #                                                 | Banning Lewis Ranch Metropolitan District No 8                                   | CUSIP: 06663CAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $445055.60    | 0.08%             | 2051-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN                                                 | New Jersey Higher Education Student Assistance Authority                         | CUSIP: 646080UP4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    820000 | PA      | $626421.53    | 0.11%             | 2049-12-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMISSIO                                                 | Florida Local Government Finance Commission                                      | CUSIP: 34077UAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1251128.64   | 0.22%             | 2064-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| IOWA ST STUDENT LOAN LIQUIDITY                                                 | Iowa Student Loan Liquidity Corp                                                 | CUSIP: 462590MT4<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1582864.40   | 0.28%             | 2044-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CRANDALL TX SPL ASSMNT REVENUE                                                 | City of Crandall TX                                                              | CUSIP: 224384AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $223847.89    | 0.04%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOWERY HILLS CDD FL SPL ASSMNT                                                 | Lowery Hills Community Development District                                      | CUSIP: 548652AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160838.59    | 0.03%             | 2045-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEQ4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     95000 | PA      | $63412.50     | 0.01%             | 2018-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505WC6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    685000 | PA      | $625715.78    | 0.11%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI MF HSG REVE                                                 | Public Finance Authority                                                         | CUSIP: 74441XJH3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    720000 | PA      | $711445.68    | 0.13%             | 2065-07-01      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396GY2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    195000 | PA      | $167506.17    | 0.03%             | 2051-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                                                 | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638TJS3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    615000 | PA      | $632472.83    | 0.11%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1409000 | PA      | $1404496.13   | 0.25%             | 2035-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR SCH DIST #12                                                 | Clackamas County School District No 12 North Clackamas                           | CUSIP: 179093LF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $141630.02    | 0.02%             | 2038-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783U87<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    775000 | PA      | $775057.51    | 0.14%             | 2029-07-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KFZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $767855.06    | 0.14%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD FING AUTH T                                                 | California Statewide Financing Authority                                         | CUSIP: 130923BH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $86783.95     | 0.02%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PORTICO FL CDD SPL ASSMNT REVE                                                 | Portico Community Development District                                           | CUSIP: 73641TAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $359368.57    | 0.06%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TDA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $172625.40    | 0.03%             | 2042-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES                                                  | Chicago Transit Authority Sales Tax Receipts Fund                                | CUSIP: 16772PEP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2072199.00   | 0.36%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS CITY MO LAND CLEARANCE                                                  | Kansas City Land Clearance Redevelopment Authority                               | CUSIP: 48504MAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $261265.71    | 0.05%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OH HLTH CARE FAC                                                 | County of Franklin OH                                                            | CUSIP: 353180KW1<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    850000 | PA      | $728208.18    | 0.13%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                                                 | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542QBK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $232986.15    | 0.04%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAYS CNTY TX SPL ASSMNT REVENU                                                 | County of Hays TX                                                                | CUSIP: 420894AU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200114.64    | 0.04%             | 2045-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505A71<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1496284.69   | 0.26%             | 2044-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R                                                 | Industrial Development Authority of the City of Phoenix Arizona/The              | CUSIP: 71885FFG7<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    570000 | PA      | $545192.92    | 0.10%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI POOLED CHRT                                                 | Public Finance Authority                                                         | CUSIP: 74448GAB5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $961500.00    | 0.17%             | 2062-07-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFN0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     30000 | PA      | $20025.00     | 0.00%             | 2017-07-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IN EXEMPT FACS REVE                                                 | City of Valparaiso IN                                                            | CUSIP: 92028RAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $179264.07    | 0.03%             | 2034-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL HLTH CAR                                                 | Capital Trust Authority                                                          | CUSIP: 14055GAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $960011.42    | 0.17%             | 2057-07-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                                                 | Colorado Health Facilities Authority                                             | CUSIP: 19648FTH7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    420000 | PA      | $317804.13    | 0.06%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOYLESTOWN PA HOSP AUTH                                                        | Doylestown Hospital Authority                                                    | CUSIP: 261333HH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $132732.01    | 0.02%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTER CNTY PA HLTH & EDU FAC                                                 | Chester County Health and Education Facilities Authority                         | CUSIP: 165579HT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $582892.81    | 0.10%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GOLDEN GEM CDD FL SPL ASSMNT R                                                 | Golden Gem Community Development District                                        | CUSIP: 38105CAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1200960.41   | 0.21%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV                                                  | Westchester County Local Development Corp                                        | CUSIP: 95737TEU6<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    560000 | PA      | $492821.95    | 0.09%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KISSIMMEE PARK CDD FL CAPITAL                                                  | Kissimmee Park Community Development District                                    | CUSIP: 497859AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $232284.80    | 0.04%             | 2056-05-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YER2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     70000 | PA      | $46725.00     | 0.01%             | 2019-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA                                                 | Wisconsin Health & Educational Facilities Authority                              | CUSIP: 97712JJD6<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1349078.59   | 0.24%             | 2044-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GRAND OAKS CDD FL SPL ASSMNT R                                                 | Grand Oaks Community Development District                                        | CUSIP: 38611CAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $212090.18    | 0.04%             | 2052-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                                                    | Indiana Finance Authority                                                        | CUSIP: 45506EQS5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    700000 | PA      | $759491.53    | 0.13%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD REVENUE                                                      | Texas Water Development Board                                                    | CUSIP: 88285AFZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2376177.50   | 0.42%             | 2051-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400CR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    172000 | PA      | $168073.03    | 0.03%             | 2054-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1490916.62   | 0.26%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL F                                                 | Capital Trust Agency Inc                                                         | CUSIP: 14054CBR9<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    420000 | PA      | $351409.00    | 0.06%             | 2054-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H                                                 | Montgomery County Higher Education and Health Authority                          | CUSIP: 613603YZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $978451.38    | 0.17%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KBR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $183333.92    | 0.03%             | 2029-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                                                    | City of Houston TX Airport System Revenue                                        | CUSIP: 442349HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    410000 | PA      | $439988.47    | 0.08%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400DA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95543.98     | 0.02%             | 2045-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH                                                              | Finance Authority of Maine                                                       | CUSIP: 56042BCU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $127361.13    | 0.02%             | 2032-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| OSCEOLA CNTY FL TRANSPRTN REVE                                                 | County of Osceola FL Transportation Revenue                                      | CUSIP: 688031FB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $310768.85    | 0.05%             | 2046-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARBORS CDD FL CAPITAL IMPT REV                                                 | Arbors Community Development District                                            | CUSIP: 03879SAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006698.40   | 0.18%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT                                                 | Allentown Neighborhood Improvement Zone Development Authority                    | CUSIP: 018444CE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101163.07    | 0.02%             | 2042-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KINGS CREEK I CDD FL SPL ASSMN                                                 | Kings Creek I Community Development District                                     | CUSIP: 495879AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $438514.73    | 0.08%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDY8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     70000 | PA      | $46725.00     | 0.01%             | 2028-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AVIATION STATION NORTH MET DIS                                                 | Aviation Station North Metropolitan District No 2                                | CUSIP: 05369KAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492817.95    | 0.09%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS                                                  | Maine Health & Higher Educational Facilities Authority                           | CUSIP: 56042R8P0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1836172.59   | 0.32%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YCW3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     75000 | PA      | $50062.50     | 0.01%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                                                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74528LAB7<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    110000 | PA      | $125123.01    | 0.02%             | 2042-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YCX1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    165000 | PA      | $110137.50    | 0.02%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED                                                 | Clifton Higher Education Finance Corp                                            | CUSIP: 187145UR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $92775.19     | 0.02%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SP                                                 | California Municipal Finance Authority                                           | CUSIP: 13050RAA0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2511209.75   | 0.44%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON                                                  | Metropolitan Government Nashville & Davidson County Industrial Development Board | CUSIP: 59211SAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $283800.23    | 0.05%             | 2043-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WESTSIDE FL CDD SPL ASSMNT REV                                                 | Westside Community Development District                                          | CUSIP: 96149TAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $606671.31    | 0.11%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    375143 | PA      | $368647.89    | 0.06%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH EDUCTNL FACS                                                  | Indiana Finance Authority                                                        | CUSIP: 45470EET8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    215000 | PA      | $214963.28    | 0.04%             | 2045-10-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COASTAL RIDGE CDD FL SPL ASSMN                                                 | Coastal Ridge Community Development District                                     | CUSIP: 19052TAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $619129.98    | 0.11%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY S                                                 | Massachusetts Development Finance Agency                                         | CUSIP: 57563WAB4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    875000 | PA      | $879021.68    | 0.15%             | 2045-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALACHUA CNTY FL HSG FIN AUTH M                                                 | Alachua County Housing Finance Authority                                         | CUSIP: 01068LAT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $261835.10    | 0.05%             | 2055-07-01      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| WYOMING ST CMNTY DEV AUTH HSG                                                  | Wyoming Community Development Authority                                          | CUSIP: 98322QZD2<br>LEI: 549300UQ62NB8FGTHW65 | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4200000.00   | 0.74%             | 2048-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU                                                 | Montgomery County Industrial Development Authority/PA                            | CUSIP: 61360PCM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $882008.49    | 0.16%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAGAN MN CHRTR SCH LEASE REVEN                                                 | City of Eagan MN                                                                 | CUSIP: 26940AAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97101.04     | 0.02%             | 2055-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505ZL3<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1368685.25   | 0.24%             | 2050-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396CV2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    335000 | PA      | $325418.80    | 0.06%             | 2047-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST GAS & FUELS TAX R                                                 | State of Louisiana Gasoline & Fuels Tax Revenue                                  | CUSIP: 546475VW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 0.03%             | 2043-05-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                                                    | City of Houston TX Airport System Revenue                                        | CUSIP: 442349FW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3590000 | PA      | $3420948.70   | 0.60%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAKES OF SARASOTA CDD 2 CAPITA                                                 | Lakes of Sarasota Community Development District 2                               | CUSIP: 51207BAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $635388.39    | 0.11%             | 2045-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400DB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155184.68    | 0.03%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA DEV AUTH                                                            | Atlanta Development Authority/The                                                | CUSIP: 04780NMX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $742049.35    | 0.13%             | 2039-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALEM OR HOSP FAC AUTH REVENUE                                                 | Salem Hospital Facility Authority                                                | CUSIP: 794458FX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4474155.50   | 0.79%             | 2049-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HGR EDU ASSISTANC                                                 | Pennsylvania Higher Education Assistance Agency                                  | CUSIP: 70878CBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $799521.92    | 0.14%             | 2046-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT                                                 | Allentown Neighborhood Improvement Zone Development Authority                    | CUSIP: 018444CD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102689.67    | 0.02%             | 2032-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505SM9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    625000 | PA      | $625437.63    | 0.11%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YBV6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     70000 | PA      | $46725.00     | 0.01%             | 2017-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAMMOCK OAKS CDD FL ASSMNT                                                     | Hammock Oaks Community Development District                                      | CUSIP: 40834PAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $223648.48    | 0.04%             | 2045-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| TAHOE-DOUGLAS VISITORS AUTH NV                                                 | Tahoe-Douglas Visitors Authority                                                 | CUSIP: 873816AR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $221936.91    | 0.04%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                                                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74528LAA9<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    165000 | PA      | $187280.68    | 0.03%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDZ5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    265000 | PA      | $176887.50    | 0.03%             | 2028-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL INDL DEV AUTH                                                 | Seminole County Industrial Development Authority                                 | CUSIP: 81669TAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496832.85    | 0.09%             | 2039-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST MTGE AGY HOMEOWNER                                                 | State of New York Mortgage Agency Homeowner Mortgage Revenue                     | CUSIP: 64988YQY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.26%             | 2052-10-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                                                 | New York Counties Tobacco Trust IV                                               | CUSIP: 62947YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $762291.08    | 0.13%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    417505 | PA      | $417381.00    | 0.07%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PTF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2025000 | PA      | $1675216.49   | 0.29%             | 2051-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MILTON DE SPL OBLIG                                                            | Town of Milton DE                                                                | CUSIP: 601792AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303731.49    | 0.05%             | 2053-09-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN                                                 | CSCDA Community Improvement Authority                                            | CUSIP: 126292BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $164319.84    | 0.03%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BRIDGEVILLE DE SPL OBLIG                                                       | Town of Bridgeville DE                                                           | CUSIP: 108588AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $404305.44    | 0.07%             | 2053-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH                                                              | Finance Authority of Maine                                                       | CUSIP: 56042BCT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $127360.23    | 0.02%             | 2032-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP PRIV                                                 | Maryland Economic Development Corp                                               | CUSIP: 57422JBY3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    570000 | PA      | $568309.95    | 0.10%             | 2047-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV                                                 | County of Hamilton OH                                                            | CUSIP: 407272Z97<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    915000 | PA      | $820527.26    | 0.14%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER PA AUTH HLTH SYS REV                                                 | Geisinger Authority                                                              | CUSIP: 368497HQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $2844801.60   | 0.50%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TAHOE-DOUGLAS VISITORS AUTH NV                                                 | Tahoe-Douglas Visitors Authority                                                 | CUSIP: 873816AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $282053.55    | 0.05%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W VLGS FL IMPT DIST                                                            | West Villages Improvement District                                               | CUSIP: 956454CM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220452.67    | 0.04%             | 2054-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CROSSWINDS EAST CDD FL SPL ASS                                                 | Crosswinds East Community Development District                                   | CUSIP: 22769LAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106359.35    | 0.02%             | 2054-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HIGHLAND TRAILS CDD FL CAPITAL                                                 | Highland Trails Community Development District                                   | CUSIP: 430813AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299990.64    | 0.05%             | 2056-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA DEV AUTH                                                            | Atlanta Development Authority/The                                                | CUSIP: 04780NMW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $479566.47    | 0.08%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                                                       | District of Columbia                                                             | CUSIP: 25483VQY3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    580000 | PA      | $568903.73    | 0.10%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV                                                 | County of Miami-Dade Seaport Department                                          | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $466836.38    | 0.08%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YCY9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    385000 | PA      | $256987.50    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                                                 | Public Finance Authority                                                         | CUSIP: 74442ELU2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    120000 | PA      | $114571.56    | 0.02%             | 2044-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORAL CREEK CDD FL SPL ASSMNT                                                  | Coral Creek Community Development District                                       | CUSIP: 217766AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $131423.90    | 0.02%             | 2054-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A C                                                 | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041925.30   | 0.18%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PDD4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    155000 | PA      | $54250.00     | 0.01%             | 2046-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     93920 | PA      | $86837.94     | 0.02%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LA PAZ CNTY AZ INDL DEV AUTH E                                                 | La Paz County Industrial Development Authority                                   | CUSIP: 50376HAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $266770.00    | 0.05%             | 2048-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO                                                 | New York State Dormitory Authority                                               | CUSIP: 64990FA53<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    800000 | PA      | $586699.52    | 0.10%             | 2051-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ORMAND CROSSINGS FL W CDD                                                      | Ormond Crossings West Community Development District                             | CUSIP: 68682AAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $398125.76    | 0.07%             | 2047-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH E                                                 | Ohio Air Quality Development Authority                                           | CUSIP: 67754AAE4<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   4715000 | PA      | $4351701.71   | 0.77%             | 2048-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LANTERNS MET DIST #2 CO                                                        | Lanterns Metropolitan District No 2                                              | CUSIP: 51654DAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $386542.05    | 0.07%             | 2050-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT                                                 | Escambia County Health Facilities Authority                                      | CUSIP: 296110GJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3060000 | PA      | $2792584.15   | 0.49%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL                                                 | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 5742186N8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $1975308.00   | 0.35%             | 2055-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCH FIN AUTH SCH FA                                                 | California School Finance Authority                                              | CUSIP: 13059TCT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $294993.90    | 0.05%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH AL COMMO                                                 | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136FAH0<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1785000 | PA      | $1805934.66   | 0.32%             | 2051-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MALABAR SPRINGS CDD FL SPL ASS                                                 | Malabar Springs Community Development District                                   | CUSIP: 560881AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $164636.41    | 0.03%             | 2044-05-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN                                                 | CSCDA Community Improvement Authority                                            | CUSIP: 126292BX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $169333.65    | 0.03%             | 2058-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| W VLGS FL IMPT DIST                                                            | West Villages Improvement District                                               | CUSIP: 956454BK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $284915.78    | 0.05%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARION IL SALES TAX REVENUE                                                    | City of Marion IL Sales Tax Revenue                                              | CUSIP: 569498AB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1120943.38   | 0.20%             | 2055-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PDE2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    275000 | PA      | $96250.00     | 0.02%             | 2046-11-01      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| TULSA OK MUNI ARPT TRUST TRUST                                                 | Tulsa Municipal Airport Trust Trustees/OK                                        | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1947945.40   | 0.34%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                                        | Florida Development Finance Corp                                                 | CUSIP: 340618DK0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   3630000 | PA      | $1306800.00   | 0.23%             | 2032-07-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                                                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth  | CUSIP: 74528LAC5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    165000 | PA      | $186665.82    | 0.03%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AFFORDABLE HSG OPPORTUNITIES T                                                 | Affordable Housing Opportunities Trust Series AH-01                              | CUSIP: 00826SAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    661277 | PA      | $668269.89    | 0.12%             | 2039-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| W VLGS FL IMPT DIST                                                            | West Villages Improvement District                                               | CUSIP: 956454BJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190832.90    | 0.03%             | 2039-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MALABAR SPRINGS CDD FL SPL ASS                                                 | Malabar Springs Community Development District                                   | CUSIP: 560881AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244626.00    | 0.04%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM                                                 | North Carolina Medical Care Commission                                           | CUSIP: 65820YSU1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    230000 | PA      | $225593.66    | 0.04%             | 2041-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 93978LGG5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    310000 | PA      | $266162.90    | 0.05%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JAMES PARISH LA REVENUE                                                  | Parish of St James LA                                                            | CUSIP: 790103AV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $1037262.25   | 0.18%             | 2040-07-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE                                                 | City of Deephaven MN                                                             | CUSIP: 24380HAQ5<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |    605000 | PA      | $605385.02    | 0.11%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                                                  | Arlington Higher Education Finance Corp                                          | CUSIP: 041806RX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $978717.77    | 0.17%             | 2054-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL                                                  | Black Belt Energy Gas District                                                   | CUSIP: 09182NBR0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1125196.05   | 0.20%             | 2051-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505YL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1663178.91   | 0.29%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax Revenue                                        | District of Columbia Income Tax Revenue (TOBs)                                   | CUSIP: 25477GYN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5226141.00   | 0.92%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEMINOLE CNTY FL INDL DEV AUTH                                                 | Seminole County Industrial Development Authority                                 | CUSIP: 81669TAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $563270.79    | 0.10%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                                                 | California Public Finance Authority                                              | CUSIP: 13057GAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2147689.80   | 0.38%             | 2059-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FIRETHORN CDD FL CAPITAL IMPT                                                  | Firethorn Community Development District                                         | CUSIP: 31832AAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198772.48    | 0.03%             | 2055-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BLP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $903937.23    | 0.16%             | 2055-01-01      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL                                                  | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DHJ4<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    570000 | PA      | $471358.19    | 0.08%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                                                  | Philadelphia Authority for Industrial Development                                | CUSIP: 717901CA8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1851303.60   | 0.33%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOBE ST LUCIE CONSERVANCY DIST                                                 | Hobe-St Lucie Conservancy District                                               | CUSIP: 434043AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $168386.48    | 0.03%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN                                                 | CSCDA Community Improvement Authority                                            | CUSIP: 126292AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $156135.44    | 0.03%             | 2056-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARION IL SALES TAX REVENUE                                                    | City of Marion IL Sales Tax Revenue                                              | CUSIP: 569498AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $599783.10    | 0.11%             | 2045-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $305007.63    | 0.05%             | 2031-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| COASTAL RIDGE CDD FL SPL ASSMN                                                 | Coastal Ridge Community Development District                                     | CUSIP: 19052TAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $476890.56    | 0.08%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                                                   | New Hampshire Business Finance Authority                                         | CUSIP: 63607YAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $625647.36    | 0.11%             | 2055-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DEL VALLE TX INDEP SCH DIST                                                    | Del Valle Independent School District TX                                         | CUSIP: 245505XT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1260117.45   | 0.22%             | 2047-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                                                 | New York Transportation Development Corp                                         | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524594.70    | 0.09%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WOOD RANCH PUB INFRASTRUCTURE                                                  | Wood Ranch Public Infrastructure District                                        | CUSIP: 97850AAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    124727 | PA      | $125806.36    | 0.02%             | 2053-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HARBOR RESERVATION CDD FL SPL                                                  | Harbor Reserve Community Development District                                    | CUSIP: 41155EAD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $790961.84    | 0.14%             | 2056-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1048615 | PA      | $1111082.78   | 0.20%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CMNTY BROADBAND INC                                                  | Allegheny Community Broadband Inc                                                | CUSIP: 017276AF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $180829.60    | 0.03%             | 2051-09-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER NY TOBACCO ASSET S                                                 | Westchester Tobacco Asset Securitization Corp                                    | CUSIP: 957480BS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $546351.70    | 0.10%             | 2042-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH REVENUE                                                    | Oregon State Facilities Authority                                                | CUSIP: 68608JXL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $273405.78    | 0.05%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TERRELL TX SPL ASSMNT REVENUE                                                  | City of Terrell TX                                                               | CUSIP: 881435AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $968965.80    | 0.17%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HOOVER AL INDL DEV BRD ENVNMNT                                                 | Hoover Industrial Development Board                                              | CUSIP: 439241AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1421499.23   | 0.25%             | 2050-11-01      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505PL4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1450497.00   | 0.26%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                                                  | Capital Trust Authority                                                          | CUSIP: 14054WBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $154420.06    | 0.03%             | 2059-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BUCKHEAD TRAILS CDD FL SPL ASS                                                 | Buckhead Trails Community Development District                                   | CUSIP: 11836UAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $212515.19    | 0.04%             | 2044-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| LT RANCH CDD FL CAPITAL IMPT R                                                 | LT Ranch Community Development District                                          | CUSIP: 54912EAQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153634.50    | 0.03%             | 2054-05-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| DARBY CDD FL SPL ASSMNT REVENU                                                 | Darby Community Development District                                             | CUSIP: 23705PAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $421964.12    | 0.07%             | 2035-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FIRETHORN CDD FL CAPITAL IMPT                                                  | Firethorn Community Development District                                         | CUSIP: 31832AAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $869820.17    | 0.15%             | 2045-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                                                   | New Hampshire Business Finance Authority                                         | CUSIP: 63607YAM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $313029.07    | 0.06%             | 2046-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783VW3<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1935000 | PA      | $1804471.87   | 0.32%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783SQ0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    210000 | PA      | $208422.73    | 0.04%             | 2045-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HICKORY CHASE OH CMNTY AUTH IN                                                 | Hickory Chase Community Authority                                                | CUSIP: 428861AD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $747797.01    | 0.13%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                                                 | Colorado Health Facilities Authority                                             | CUSIP: 19648FWU4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    305000 | PA      | $315800.81    | 0.06%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN                                                  | New York City Municipal Water Finance Authority                                  | CUSIP: 64972GC44<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2400000.00   | 0.42%             | 2044-06-15      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO INDL DEV AUTH T                                                 | Industrial Development Authority of the City of St Louis Missouri/The            | CUSIP: 85237JAB0<br>LEI: 549300WTUL8KX1FOUZ40 | Long             | DBT              | MUN               | US        |    585000 | PA      | $591502.45    | 0.10%             | 2054-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ARPT SYS REVENU                                                 | City of San Antonio TX Airport System                                            | CUSIP: 796242TC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500024.65    | 0.09%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD CMNTYS DEV                                                  | California Statewide Communities Development Authority                           | CUSIP: 13079PA45<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    745000 | PA      | $750751.55    | 0.13%             | 2068-03-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                                                 | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3861000 | PA      | $1289650.83   | 0.23%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783U20<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101946.83    | 0.02%             | 2059-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BRIGHTLINE EAST LLC                                                            | Brightline East LLC                                                              | CUSIP: 093536AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    346000 | PA      | $96880.00     | 0.02%             | 2030-01-31      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE                                                   | New Hampshire Business Finance Authority                                         | CUSIP: 63607YAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $292394.50    | 0.05%             | 2040-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP                                                  | New York City Housing Development Corp                                           | CUSIP: 64972B8M0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981739.80    | 0.17%             | 2044-11-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                                                  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $512686.27    | 0.09%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ANGELINE CDD FL CAPITAL IMPT R                                                 | Angeline Community Development District                                          | CUSIP: 03473TAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $419327.33    | 0.07%             | 2045-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                                                  | Capital Trust Authority                                                          | CUSIP: 14054WBQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $114188.85    | 0.02%             | 2050-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDV4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     50000 | PA      | $33375.00     | 0.01%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                                       | School District of Philadelphia/The                                              | CUSIP: 717883A77<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |    265000 | PA      | $280549.09    | 0.05%             | 2048-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                                                 | Housing & Redevelopment Authority of The City of St Paul Minnesota               | CUSIP: 852297CH1<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    240000 | PA      | $241397.86    | 0.04%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YCT0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    190000 | PA      | $126825.00    | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST WTR RESOURCES                                                 | Massachusetts Water Resources Authority                                          | CUSIP: 576049RU6<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500000.00   | 0.26%             | 2028-08-01      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| CONNERTON EAST CDD FL SPL ASSM                                                 | Connerton East Community Development District                                    | CUSIP: 208185AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $167707.50    | 0.03%             | 2055-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SUNRISE CDD FL CAPITAL IMPT RE                                                 | Sunrise Community Development District                                           | CUSIP: 86771UAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $587830.02    | 0.10%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL SOL WST DISP                                                  | County of Escambia FL                                                            | CUSIP: 296163BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6100000 | PA      | $6100000.00   | 1.07%             | 2039-04-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                                                 | Washington Health Care Facilities Authority                                      | CUSIP: 93978HF75<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    800000 | PA      | $846337.36    | 0.15%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                                                     | City of Chicago IL                                                               | CUSIP: 167486U72<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1695332.12   | 0.30%             | 2050-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                                                  | Philadelphia Authority for Industrial Development                                | CUSIP: 71780TBL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    235000 | PA      | $241095.03    | 0.04%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORMANDY CDD FL CAPITAL IMPT R                                                 | Normandy Community Development District                                          | CUSIP: 65618HAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $398808.44    | 0.07%             | 2054-05-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| LT RANCH CDD FL CAPITAL IMPT R                                                 | LT Ranch Community Development District                                          | CUSIP: 54912EAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $211079.71    | 0.04%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                                                  | Capital Trust Authority                                                          | CUSIP: 14054WBP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $131422.73    | 0.02%             | 2040-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                                                 | Colorado Health Facilities Authority                                             | CUSIP: 19648FWT7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    120000 | PA      | $126150.83    | 0.02%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REDTAIL RIDGE MET DIST CO                                                      | Redtail Ridge Metropolitan District                                              | CUSIP: 75773CAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3999000 | PA      | $2511450.38   | 0.44%             | 2032-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $374855.20    | 0.07%             | 2032-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV                                                 | Build NYC Resource Corp                                                          | CUSIP: 12008EVB9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    385000 | PA      | $399206.12    | 0.07%             | 2043-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| National Finance Authority                                                     | New Hampshire Business Finance Authority                                         | CUSIP: 63607WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    612097 | PA      | $615403.70    | 0.11%             | 2051-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW PORT CORNERS CDD FL SPL AS                                                 | New Port Corners Community Development District                                  | CUSIP: 648122AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499789.65    | 0.09%             | 2045-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                                                  | Buckeye Tobacco Settlement Financing Authority                                   | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7075000 | PA      | $5726950.02   | 1.01%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PP74<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $466171.50    | 0.08%             | 2036-01-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                                                   | Capital Trust Agency Inc                                                         | CUSIP: 14052WDK0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1570000 | PA      | $1329145.36   | 0.23%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                                                           | Municipal Electric Authority of Georgia                                          | CUSIP: 62620HEL2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    645000 | PA      | $651122.21    | 0.11%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY INDL DEV AUTH EX                                                 | Maricopa County Industrial Development Authority                                 | CUSIP: 56678TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6470000 | PA      | $5475286.03   | 0.96%             | 2047-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CONFERENCE                                                  | Public Finance Authority                                                         | CUSIP: 74445QDW7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    315000 | PA      | $241448.38    | 0.04%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER NY TOBACCO ASSET S                                                 | Westchester Tobacco Asset Securitization Corp                                    | CUSIP: 957480BU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $428328.25    | 0.08%             | 2051-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LAKES OF SARASOTA CDD 2 CAPITA                                                 | Lakes of Sarasota Community Development District 2                               | CUSIP: 51207BAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $765345.93    | 0.13%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                 | Black Belt Energy Gas District (TOBs)                                            | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2909016.83   | 0.51%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BDB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $570242.21    | 0.10%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA                                                 | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708686ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $457847.03    | 0.08%             | 2038-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX SPL ASSMNT R                                                 | City of Corpus Christi TX                                                        | CUSIP: 220233AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    227000 | PA      | $227201.14    | 0.04%             | 2054-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BELLA TARA CDD FL SPL ASSMNT                                                   | Bella Tara Community Development District                                        | CUSIP: 07820BAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $464569.61    | 0.08%             | 2056-05-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    440283 | PA      | $483697.06    | 0.09%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                                                 | Massachusetts Development Finance Agency                                         | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $485832.80    | 0.09%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST VRAIN LAKES MET DIST NO 4                                                   | St Vrain Lakes Metropolitan District No 4                                        | CUSIP: 85237KAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $540958.89    | 0.10%             | 2054-09-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1244710.66   | 0.22%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| THREE RIVERS CDD FL                                                            | Three Rivers Community Development District                                      | CUSIP: 88563MAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $816838.28    | 0.14%             | 2056-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MF AFFORD                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63610CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |    770000 | PA      | $804407.14    | 0.14%             | 2042-04-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH                                                  | Orange County Health Facilities Authority                                        | CUSIP: 68450LJR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4831414.50   | 0.85%             | 2056-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV                                                 | Build NYC Resource Corp                                                          | CUSIP: 12008EVC7<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    705000 | PA      | $720398.19    | 0.13%             | 2053-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                                                 | Massachusetts Development Finance Agency                                         | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1047169.20   | 0.18%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ULSTER CNTY NY CAPITAL RESOURC                                                 | Ulster County Capital Resource Corp                                              | CUSIP: 903768AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $597960.84    | 0.11%             | 2059-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BALLSTON QUARTER CMNTY DEV AUT                                                 | Ballston Quarter Community Development Authority                                 | CUSIP: 058696AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     92000 | PA      | $91552.46     | 0.02%             | 2046-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| THE CHILDRENS TRUST FUND PR TO                                                 | Children's Trust Fund                                                            | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17040000 | PA      | $806233.97    | 0.14%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOJOURN AT IDLEWILD MET DIST C                                                 | Sojourn at Idlewild Metropolitan District                                        | CUSIP: 83408GAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $513986.60    | 0.09%             | 2055-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TEXAS ST WTR DEV BRD                                                           | Texas Water Development Board                                                    | CUSIP: 8828544U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $764804.31    | 0.13%             | 2045-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DENTON CNTY TX SPL ASSMNT REVE                                                 | County of Denton TX                                                              | CUSIP: 24880GAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $453439.71    | 0.08%             | 2045-12-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YBT1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    160000 | PA      | $106800.00    | 0.02%             | 2018-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CMNTY BROADBAND INC                                                  | Allegheny Community Broadband Inc                                                | CUSIP: 017276AE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $158195.63    | 0.03%             | 2045-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST HSG FIN AGY                                                  | North Carolina Housing Finance Agency                                            | CUSIP: 658207T88<br>LEI: EC4EE0PS5OP5O69B5C39 | Long             | DBT              | MUN               | US        |    680000 | PA      | $719580.96    | 0.13%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA                                                 | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708686ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $800252.25    | 0.14%             | 2037-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| BELLA TARA CDD FL SPL ASSMNT                                                   | Bella Tara Community Development District                                        | CUSIP: 07820BAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $300351.70    | 0.05%             | 2045-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400CM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98953.65     | 0.02%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF WYOMING WY UNIV REVENU                                                 | University of Wyoming                                                            | CUSIP: 915268J31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $709360.83    | 0.12%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN                                                 | CSCDA Community Improvement Authority                                            | CUSIP: 126292AY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1090000 | PA      | $741087.51    | 0.13%             | 2056-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HARBOR BAY FL CDD CAPITAL IMPT                                                 | Harbor Bay Community Development District                                        | CUSIP: 411466AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $366214.64    | 0.06%             | 2033-05-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                                                 | New York Liberty Development Corp                                                | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $399975.36    | 0.07%             | 2040-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                                                 | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    317000 | PA      | $287138.28    | 0.05%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| MORGANTOWN WV COMB UTILITY SYS                                                 | Morgantown Utility Board Inc                                                     | CUSIP: 61759CDF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1123818.62   | 0.20%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH                                                              | Finance Authority of Maine                                                       | CUSIP: 56042BCV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    824657 | PA      | $422773.69    | 0.07%             | 2035-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CYPRESS CREEK RESERVE CDD FL S                                                 | Cypress Creek Reserve Community Development District                             | CUSIP: 23274FAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207414.34    | 0.04%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFE0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1198162.50   | 0.21%             | 2033-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU                                                 | Wisconsin Housing & Economic Development Authority                               | CUSIP: 97689REB6<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    165000 | PA      | $166588.29    | 0.03%             | 2037-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| GARDENS AT HAMMOCK BEACH CDD F                                                 | Gardens at Hammock Beach Community Development District                          | CUSIP: 36549DAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $421858.37    | 0.07%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEWFIELD CDD FL SPL ASSMNT REV                                                 | Newfield Community Development District                                          | CUSIP: 65128AAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $822341.23    | 0.14%             | 2056-05-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| TEXAS CMNTY HSG & ECON DEV COR                                                 | Texas Community Housing & Economic Development Corp                              | CUSIP: 88231CAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1256023.53   | 0.22%             | 2065-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                  | Commonwealth of Massachusetts (TOBs)                                             | CUSIP: 57582TCE0<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   9450000 | PA      | $9809535.65   | 1.73%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRADITION CDD #9 FL SPL ASSMNT                                                 | Tradition Community Development District No 9                                    | CUSIP: 89269NAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225802.71    | 0.04%             | 2056-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CELINA TX SPL ASSESSMENT REVEN                                                 | City of Celina TX                                                                | CUSIP: 15114CKV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $188109.14    | 0.03%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDA0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    395000 | PA      | $263662.50    | 0.05%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHNS CNTY FL INDL DEV A                                                 | St Johns County Industrial Development Authority                                 | CUSIP: 790417AR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $498671.70    | 0.09%             | 2055-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERRY BAY II CDD FL SPL ASSMNT                                                 | Berry Bay II Community Development District                                      | CUSIP: 08577DAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $220138.27    | 0.04%             | 2054-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT                                                 | Clackamas County Hospital Facility Authority                                     | CUSIP: 179027YM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $192933.50    | 0.03%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                                                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652UAV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $374761.82    | 0.07%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH CH                                                 | New Jersey Economic Development Authority                                        | CUSIP: 64578QAC4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    945000 | PA      | $811818.69    | 0.14%             | 2054-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS ND HLTH CARE SYS R                                                 | City of Grand Forks ND                                                           | CUSIP: 38546WEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $356169.21    | 0.06%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $182500.09    | 0.03%             | 2047-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VLG CDD #16 FL SPL ASSMNT REVE                                                 | Village Community Development District No 16                                     | CUSIP: 92708MAE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1199145.96   | 0.21%             | 2056-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HARDIN CNTY OH ECON DEV FACILI                                                 | County of Hardin OH                                                              | CUSIP: 412003AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $139716.74    | 0.02%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OAK POINT TX SPL ASSMNT REVENU                                                 | City of Oak Point TX                                                             | CUSIP: 67176TBA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $291718.29    | 0.05%             | 2054-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4735000 | PA      | $2944781.73   | 0.52%             | 2033-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MIDA MOUNTAIN VLG PUBLIC INFRA                                                 | Mida Mountain Village Public Infrastructure District                             | CUSIP: 59561UAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300475.11    | 0.05%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAVON TX SPL ASSMT REVENUE                                                     | City of Lavon TX                                                                 | CUSIP: 51946PCS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300087.69    | 0.05%             | 2055-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL F                                                 | Capital Trust Agency Inc                                                         | CUSIP: 14054CCB3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    285000 | PA      | $250711.65    | 0.04%             | 2054-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRIENDSWOOD TX SPL ASSMNT REVE                                                 | City of Friendswood TX                                                           | CUSIP: 358591AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    657000 | PA      | $660103.01    | 0.12%             | 2054-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TCL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $195199.20    | 0.03%             | 2030-06-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CURIOSITY CREEK CDD FL CAPITAL                                                 | Curiosity Creek Community Development District                                   | CUSIP: 23128SAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $600671.10    | 0.11%             | 2056-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GLENDALE AZ INDL DEV AUTH SENI                                                 | Glendale Industrial Development Authority                                        | CUSIP: 378287BA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $260048.12    | 0.05%             | 2056-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KGJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $354948.92    | 0.06%             | 2040-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                                                  | Buckeye Tobacco Settlement Financing Authority                                   | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16680000 | PA      | $1234129.85   | 0.22%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CELINA TX SPL ASSESSMENT REVEN                                                 | City of Celina TX                                                                | CUSIP: 15114CKU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $109108.97    | 0.02%             | 2045-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YED3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     75000 | PA      | $50062.50     | 0.01%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                                                  | New Hope Cultural Education Facilities Finance Corp                              | CUSIP: 64542UHY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296846.88    | 0.05%             | 2055-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BALLSTON QUARTER CMNTY DEV AUT                                                 | Ballston Quarter Community Development Authority                                 | CUSIP: 058696AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $202126.65    | 0.04%             | 2059-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING                                                 | Suffolk Regional Off-Track Betting Corp                                          | CUSIP: 86480TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $418041.16    | 0.07%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                                                 | Public Finance Authority                                                         | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1367876.25   | 0.24%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061UJE9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $705623.13    | 0.12%             | 2056-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                                                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652UAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $394955.84    | 0.07%             | 2054-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP                                                      | Maryland Economic Development Corp                                               | CUSIP: 574205FZ8<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2385000.00   | 0.42%             | 2043-05-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| EAST CENTRL VT TELECOMMUNICATI                                                 | East Central Vermont Telecommunications District                                 | CUSIP: 271524AT7<br>LEI: 549300UHVQS0JED3EZ33 | Long             | DBT              | MUN               | US        |    695000 | PA      | $645154.67    | 0.11%             | 2040-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BUCKHEAD TRAILS CDD FL SPL ASS                                                 | Buckhead Trails Community Development District                                   | CUSIP: 11836UAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $213793.27    | 0.04%             | 2052-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BEY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $175126.72    | 0.03%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BELLEHAVEN CDD FL SPL ASSMNT                                                   | Bellehaven Community Development District                                        | CUSIP: 07876CAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514409.05    | 0.09%             | 2055-05-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HARDIN CNTY OH ECON DEV FACILI                                                 | County of Hardin OH                                                              | CUSIP: 412003AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $139036.96    | 0.02%             | 2040-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HLTH CARE REV                                                 | County of Hamilton OH                                                            | CUSIP: 40727RBT4<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |    190000 | PA      | $185441.58    | 0.03%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CELEBRATION POINTE CMNTY DEV D                                                 | Celebration Pointe Community Development District No 1                           | CUSIP: 15102HAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $188000.00    | 0.03%             | 2045-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SEMINOLE PALMS FL CDD SPL ASSM                                                 | Seminole Palms Community Development District                                    | CUSIP: 816775AF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $252521.62    | 0.04%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                                                  | Arlington Higher Education Finance Corp                                          | CUSIP: 041807BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $168000.00    | 0.03%             | 2062-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PD36<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2260791.07   | 0.40%             | 2059-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST                                                  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 6461367J4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2834082.60   | 0.50%             | 2045-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| POMPANO BEACH FL REVENUE                                                       | City of Pompano Beach FL                                                         | CUSIP: 732203BE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $990117.36    | 0.17%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFG5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    175000 | PA      | $116812.50    | 0.02%             | 2043-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue (TOBs) | New York City Transitional Finance Authority Future Tax Secured Revenue (TOBs)   | CUSIP: 64972JTG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7738658.25   | 1.36%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                        | Port Authority of New York & New Jersey (TOBs)                                   | CUSIP: 73358W5U4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   5015000 | PA      | $4374015.78   | 0.77%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FATE TX SPL ASSESSMENT REVENUE                                                 | City of Fate TX                                                                  | CUSIP: 31189RCR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100506.69    | 0.02%             | 2054-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                   | Massachusetts Housing Finance Agency                                             | CUSIP: 57586NS51<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    490000 | PA      | $453839.81    | 0.08%             | 2047-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BEAVER CNTY PA INDL DEV AUTH                                                   | Beaver County Industrial Development Authority                                   | CUSIP: 074876HP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2380000 | PA      | $1993066.98   | 0.35%             | 2047-10-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                                                           | Stamford Housing Authority                                                       | CUSIP: 852640AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $381573.19    | 0.07%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YCA1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    895000 | PA      | $597412.50    | 0.11%             | 2019-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YAE5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    211943 | PA      | $141471.95    | 0.02%             | 2019-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEE1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2320000 | PA      | $1548600.00   | 0.27%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PH32<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2309942.90   | 0.41%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY SOL                                                 | Build NYC Resource Corp                                                          | CUSIP: 12008HAC3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    385000 | PA      | $385585.32    | 0.07%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREEN LAKE TWP MI ECON DEV COR                                                 | Green Lake Township Economic Development Corp                                    | CUSIP: 393096AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.30%             | 2034-06-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING                                                 | Suffolk Regional Off-Track Betting Corp                                          | CUSIP: 86480TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $712784.31    | 0.13%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQUISITION C                                                 | Tennessee Energy Acquisition Corp                                                | CUSIP: 88044TAL3<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1869511.00   | 0.33%             | 2052-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                                                 | Public Finance Authority                                                         | CUSIP: 744396HF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    440000 | PA      | $346663.42    | 0.06%             | 2056-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN                                                 | New Jersey Higher Education Student Assistance Authority                         | CUSIP: 646080VG3<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1337808.47   | 0.24%             | 2050-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HIGHWAY AUTH                                                  | Illinois State Toll Highway Authority                                            | CUSIP: 452252PY9<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1835979.60   | 0.32%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                                        | Florida Development Finance Corp                                                 | CUSIP: 340618DR5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   4860000 | PA      | $4769471.32   | 0.84%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOLAERIS CDD FL SPL ASSMNT                                                     | Solaeris Community Development District                                          | CUSIP: 83409XAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $742519.30    | 0.13%             | 2045-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO CONVENTION CENTER HO                                                 | Denver Convention Center Hotel Authority                                         | CUSIP: 249189DS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $953918.66    | 0.17%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE                                                       | Iowa Finance Authority                                                           | CUSIP: 46247SFV1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    725000 | PA      | $670359.07    | 0.12%             | 2059-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING                                                 | Suffolk Regional Off-Track Betting Corp                                          | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014765.90   | 0.18%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HARDIN CNTY OH ECON DEV FACILI                                                 | County of Hardin OH                                                              | CUSIP: 412003AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $601718.02    | 0.11%             | 2050-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                                                    | Indiana Finance Authority                                                        | CUSIP: 45506ENZ2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    475000 | PA      | $476008.76    | 0.08%             | 2050-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO                                                 | Mississippi Business Finance Corp                                                | CUSIP: 60528ACC6<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1860000 | PA      | $1860000.00   | 0.33%             | 2035-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KGG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $420595.01    | 0.07%             | 2045-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                                                 | Massachusetts Development Finance Agency                                         | CUSIP: 57584YNC9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    710000 | PA      | $626058.40    | 0.11%             | 2054-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KGH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1171773.32   | 0.21%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WATERS EDGE MET DIST #2 CO                                                     | Waters' Edge Metropolitan District No 2                                          | CUSIP: 94184VAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $521339.56    | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FL EDUCTNL FAC AU                                                 | Volusia County Educational Facility Authority                                    | CUSIP: 928836NY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $721557.70    | 0.13%             | 2049-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HIGHLANDS CNTY FL HLTH FACS AU                                                 | Highlands County Health Facilities Authority                                     | CUSIP: 431022UJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 0.19%             | 2056-11-15      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HSG FIN AGY                                                   | Massachusetts Housing Finance Agency                                             | CUSIP: 57586NS44<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    310000 | PA      | $300971.72    | 0.05%             | 2042-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AVE MARIA FL STEWARDSHIP CMNTY                                                 | Ave Maria Stewardship Community District                                         | CUSIP: 05355ACB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $298275.51    | 0.05%             | 2056-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEF8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     30000 | PA      | $20025.00     | 0.00%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CENTER LAKE RANCH WEST CDD FL                                                  | Center Lake Ranch West Community Development District                            | CUSIP: 151500AG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200411.36    | 0.04%             | 2055-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN R                                                 | New York State Thruway Authority                                                 | CUSIP: 650010CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1112043.58   | 0.20%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                                                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652UAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $46180.87     | 0.01%             | 2034-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                                                    | City of Houston TX Airport System Revenue                                        | CUSIP: 442349FZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $636145.37    | 0.11%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FIN AUTH FL EDUC                                                 | Capital Projects Finance Authority/FL                                            | CUSIP: 14043RAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $931208.42    | 0.16%             | 2065-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX INDL DEV AUTH                                                 | Port of Beaumont Industrial Development Authority                                | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1639222.92   | 0.29%             | 2028-01-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OH POR                                                 | Cleveland-Cuyahoga County Port Authority                                         | CUSIP: 18610RCG7<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    330000 | PA      | $328127.05    | 0.06%             | 2049-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                                                 | Massachusetts Development Finance Agency                                         | CUSIP: 57584X4P3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $480175.80    | 0.08%             | 2057-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAYS CNTY TX SPL ASSMNT REVENU                                                 | County of Hays TX                                                                | CUSIP: 420894AE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200064.46    | 0.04%             | 2045-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061UJG4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    370000 | PA      | $275457.64    | 0.05%             | 2056-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CURIOSITY CREEK CDD FL CAPITAL                                                 | Curiosity Creek Community Development District                                   | CUSIP: 23128SAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110696.04    | 0.02%             | 2044-05-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                                                 | Utah Charter School Finance Authority                                            | CUSIP: 91754TH30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $234314.55    | 0.04%             | 2052-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400DE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110629.87    | 0.02%             | 2045-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CH                                                 | California Municipal Finance Authority                                           | CUSIP: 130486AJ2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149985.27    | 0.03%             | 2044-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                                        | Florida Development Finance Corp                                                 | CUSIP: 340618DY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   3030000 | PA      | $1090800.00   | 0.19%             | 2059-07-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PALISADE CO MET DIST #2 LIMITE                                                 | Palisade Metropolitan District No 2                                              | CUSIP: 696392AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $973086.94    | 0.17%             | 2054-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BASTROP TX SPL ASSMNT REVENUE                                                  | City of Bastrop TX                                                               | CUSIP: 070341AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $221624.11    | 0.04%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CAPITAL REGION FL CDD REVENUE                                                  | Capital Region Community Development District                                    | CUSIP: 14044NBQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $351396.78    | 0.06%             | 2031-05-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MIDA MOUNTAIN VLG PUBLIC INFRA                                                 | Mida Mountain Village Public Infrastructure District                             | CUSIP: 59561UAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511935.40    | 0.09%             | 2044-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                                                  | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250DN1<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1646707.81   | 0.29%             | 2050-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                                                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704MCH7<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    325000 | PA      | $289875.95    | 0.05%             | 2062-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TCR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $579980.50    | 0.10%             | 2035-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                                                  | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250CL6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    660000 | PA      | $650797.75    | 0.11%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CREEKWALK MARKETPLACE BUSINESS                                                 | Creekwalk Marketplace Business Improvement District                              | CUSIP: 225515AJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2025000 | PA      | $2027515.86   | 0.36%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ANNA TX SPL ASSMNT REVENUE                                                     | City of Anna TX                                                                  | CUSIP: 035713AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $318375.67    | 0.06%             | 2054-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH PERSO                                                 | New York State Thruway Authority                                                 | CUSIP: 650028ZB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3690000 | PA      | $3434737.24   | 0.60%             | 2049-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   3955430 | PA      | $3450912.53   | 0.61%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NV SPL IMPT DIST NO                                                  | City of Las Vegas NV Special Improvement District No 613                         | CUSIP: 51779CAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110000.54    | 0.02%             | 2047-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COBB CNTY GA DEV AUTH CHARTERS                                                 | Development Authority of Cobb County/The                                         | CUSIP: 190779AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $141613.68    | 0.02%             | 2058-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NORTH AR-1 PASCO CDD FL CAPITA                                                 | North AR-1 Pasco Community Development District                                  | CUSIP: 65725AAS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $66391.94     | 0.01%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BELLA COLLINA CDD FL SPL ASSMN                                                 | Bella Collina Community Development District                                     | CUSIP: 07819AAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $153791.90    | 0.03%             | 2055-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH EDU                                                 | Industrial Development Authority of the County of Pima/The                       | CUSIP: 72177MRX7<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    145000 | PA      | $137441.43    | 0.02%             | 2039-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783Z41<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1596198.08   | 0.28%             | 2056-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS NV SPL IMPT DIST NO                                                  | City of Las Vegas NV Special Improvement District No 613                         | CUSIP: 51779CAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101140.96    | 0.02%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL REVENUE                                                 | Public Finance Authority                                                         | CUSIP: 74447TAG7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3305000 | PA      | $3305970.68   | 0.58%             | 2033-12-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400DF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150456.59    | 0.03%             | 2055-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HENDERSON KY EXEMPT FACS REVEN                                                 | City of Henderson KY                                                             | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1768713.22   | 0.31%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CURIOSITY CREEK CDD FL CAPITAL                                                 | Curiosity Creek Community Development District                                   | CUSIP: 23128SAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $179412.93    | 0.03%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                                          | Chicago Board of Education                                                       | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    370000 | PA      | $340517.99    | 0.06%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEM3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    486426 | PA      | $324689.36    | 0.06%             | 2018-07-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| HARVEST HILLS S CDD FL CAPITAL                                                 | Harvest Hills South Community Development District                               | CUSIP: 41757NAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1375847.55   | 0.24%             | 2045-05-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                                                  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708692CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2320000 | PA      | $2404937.06   | 0.42%             | 2047-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                                                 | Washington State Housing Finance Commission                                      | CUSIP: 939783VM5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    190000 | PA      | $190000.00    | 0.03%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORMAND CROSSINGS FL W CDD                                                      | Ormond Crossings West Community Development District                             | CUSIP: 68682AAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496495.05    | 0.09%             | 2057-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR                                                 | Florida Development Finance Corp                                                 | CUSIP: 34061WAQ7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    645000 | PA      | $596740.65    | 0.10%             | 2055-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH SOL WST DISP                                                 | Finance Authority of Maine                                                       | CUSIP: 56042CAY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $403042.36    | 0.07%             | 2047-12-01      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ INDL DEV AUTH EDU                                                 | Industrial Development Authority of the County of Pima/The                       | CUSIP: 72177MRY5<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |    180000 | PA      | $156526.67    | 0.03%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                                                 | Palm Beach County Health Facilities Authority                                    | CUSIP: 69651ACY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $221959.33    | 0.04%             | 2050-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TCQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $545454.32    | 0.10%             | 2034-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| NORTH AR-1 PASCO CDD FL CAPITA                                                 | North AR-1 Pasco Community Development District                                  | CUSIP: 65725AAR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $66819.82     | 0.01%             | 2044-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PARRISH PLANTATION CMNTY DEV D                                                 | Parrish Plantation Community Development District                                | CUSIP: 701830AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $231458.94    | 0.04%             | 2054-05-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ANGELINA & NECHES RIVER AUTH I                                                 | Angelina & Neches River Authority                                                | CUSIP: 03469KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $6431.10      | 0.00%             | 2045-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GREENBRIAR CDD FL SPL ASSMNT R                                                 | Greenbriar Community Development District                                        | CUSIP: 39364TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $221431.94    | 0.04%             | 2054-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                                                 | New York Transportation Development Corp                                         | CUSIP: 650116JP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111930.60   | 0.37%             | 2055-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REVEN                                                 | State of Ohio                                                                    | CUSIP: 67759YAQ0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    370000 | PA      | $362149.64    | 0.06%             | 2053-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REFLECTION BAY CDD FL SPL ASSM                                                 | Reflection Bay Community Development District                                    | CUSIP: 75865NAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127772.68    | 0.02%             | 2045-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CMNTY DEV ADMIN MD MF DEV REVE                                                 | Maryland Community Development Administration                                    | CUSIP: 20364NCJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2455449.50   | 0.43%             | 2044-02-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH MUNI CTFS                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63607WBK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1469488.29   | 0.26%             | 2037-09-28      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                                        | Florida Development Finance Corp                                                 | CUSIP: 340618DW4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $491576.80    | 0.09%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP                                                  | Lakewood Ranch Stewardship District                                              | CUSIP: 51265KCE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $522940.96    | 0.09%             | 2039-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| STARLING CDD FL SPL ASSMNT REV                                                 | Starling Community Development District                                          | CUSIP: 85553UAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $544693.10    | 0.10%             | 2056-05-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PARRISH PLANTATION CMNTY DEV D                                                 | Parrish Plantation Community Development District                                | CUSIP: 701830AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $118914.98    | 0.02%             | 2044-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| JUBAN CROSSING CDD LIVINGSTON                                                  | Juban Crossing Community Development District                                    | CUSIP: 48130GAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $739902.52    | 0.13%             | 2054-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX NAV DIST DOCK                                                 | Port of Beaumont Navigation District                                             | CUSIP: 73360CAC8<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    690000 | PA      | $644425.02    | 0.11%             | 2035-01-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH SPL REVEN                                                 | New Hampshire Business Finance Authority                                         | CUSIP: 63608TAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1233493.84   | 0.22%             | 2033-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CANYONS MET DIST #5 CO                                                         | Canyons Metropolitan District No 5                                               | CUSIP: 139071AZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $498854.75    | 0.09%             | 2054-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PTG0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    680000 | PA      | $549346.57    | 0.10%             | 2056-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA MOUNTAIN VLG PUBLIC INFRA                                                 | Mida Mountain Village Public Infrastructure District                             | CUSIP: 59561UAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $701894.43    | 0.12%             | 2054-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD SPL OBLIG                                                         | City of Baltimore MD                                                             | CUSIP: 05923TCP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $520087.39    | 0.09%             | 2033-06-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| VIVID SHORES CMNTY DEV DIST FL                                                 | Vivid Shores Community Development District                                      | CUSIP: 92853QAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400767.24    | 0.07%             | 2056-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| REFLECTION BAY CDD FL SPL ASSM                                                 | Reflection Bay Community Development District                                    | CUSIP: 75865NAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $208541.17    | 0.04%             | 2055-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    537288 | PA      | $388805.45    | 0.07%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX SPL ASSMNT R                                                 | City of Corpus Christi TX                                                        | CUSIP: 220233AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103768.18    | 0.02%             | 2031-09-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                                                  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $780461.68    | 0.14%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FIN AUTH FL EDUC                                                 | Capital Projects Finance Authority/FL                                            | CUSIP: 14043RAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115274.03    | 0.02%             | 2042-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                                                  | Capital Trust Authority                                                          | CUSIP: 14054WBG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $312482.87    | 0.05%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HIGHLANDS MET DIST #1 CO                                                       | Highlands Metropolitan District No 1                                             | CUSIP: 43103RAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $490115.28    | 0.09%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH EDUCTNL FACS                                                  | Indiana Finance Authority                                                        | CUSIP: 45470EEU5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    160000 | PA      | $160187.07    | 0.03%             | 2055-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST OFFSHORE TERMINAL                                                 | Louisiana Offshore Terminal Authority                                            | CUSIP: 546510FH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.30%             | 2033-09-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFD2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    775000 | PA      | $517312.50    | 0.09%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                                                    | Indiana Finance Authority                                                        | CUSIP: 45506EPA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    555000 | PA      | $558380.45    | 0.10%             | 2055-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHLANDS CO MET DIST #1                                                      | Southlands Metropolitan District No 1                                            | CUSIP: 84454RAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251331.03    | 0.04%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST CENTRL VT TELECOMMUNICATI                                                 | East Central Vermont Telecommunications District                                 | CUSIP: 271524AY6<br>LEI: 549300UHVQS0JED3EZ33 | Long             | DBT              | MUN               | US        |    705000 | PA      | $583743.74    | 0.10%             | 2044-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA                                                 | City of Forest Lake MN                                                           | CUSIP: 345856AY4<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |   2140000 | PA      | $1767701.20   | 0.31%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARRISH LAKES CDD CAPITAL IMPT                                                 | Parrish Lakes Community Development District                                     | CUSIP: 70183FAJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $417454.64    | 0.07%             | 2054-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                                        | Florida Development Finance Corp                                                 | CUSIP: 340618DV6<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1818762.75   | 0.32%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT                                                 | Escambia County Health Facilities Authority                                      | CUSIP: 296110GE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1788591.75   | 0.31%             | 2050-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN                                                 | CSCDA Community Improvement Authority                                            | CUSIP: 126292BC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $371882.35    | 0.07%             | 2057-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                                                 | Northern Tobacco Securitization Corp                                             | CUSIP: 66585VCB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4575000 | PA      | $514645.87    | 0.09%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTERRA CO MET DIST #1 SPL RE                                                 | Centerra Metropolitan District No 1                                              | CUSIP: 15200XAG8<br>LEI: 549300SHE5ZPSMGZH793 | Long             | DBT              | MUN               | US        |    155000 | PA      | $153178.61    | 0.03%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEA9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     40000 | PA      | $26700.00     | 0.00%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL F                                                 | Capital Trust Agency Inc                                                         | CUSIP: 14054CEH8<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1054778.96   | 0.19%             | 2056-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                                                  | Capital Trust Authority                                                          | CUSIP: 14054WBF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $184825.06    | 0.03%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIERRA VISTA AZ INDL DEV AUTH                                                  | Sierra Vista Industrial Development Authority                                    | CUSIP: 82652UAQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $455988.12    | 0.08%             | 2064-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BASTROP TX SPL ASSMNT REVENUE                                                  | City of Bastrop TX                                                               | CUSIP: 070341AC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110836.65    | 0.02%             | 2045-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                                                 | Massachusetts Development Finance Agency                                         | CUSIP: 57584YFK0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967602.60    | 0.17%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRADITION CDD #9 FL SPL ASSMNT                                                 | Tradition Community Development District No 9                                    | CUSIP: 89269NAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $161140.64    | 0.03%             | 2045-05-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX NAV DIST DOCK                                                 | Port of Beaumont Navigation District                                             | CUSIP: 73360CAD6<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $1990837.16   | 0.35%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGA                                                 | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500148.55    | 0.09%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                                                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399KY1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $916224.17    | 0.16%             | 2060-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CREEKWALK MARKETPLACE BUSINESS                                                 | Creekwalk Marketplace Business Improvement District                              | CUSIP: 225515AK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    513000 | PA      | $512525.06    | 0.09%             | 2054-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GREEN VLY RANCH EAST MET DIST                                                  | Green Valley Ranch East Metropolitan District No 9                               | CUSIP: 39356SAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $235185.30    | 0.04%             | 2055-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL F                                                 | Capital Trust Agency Inc                                                         | CUSIP: 14054CBV0<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $89788.18     | 0.02%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                                                 | Louisiana Public Facilities Authority                                            | CUSIP: 546399UY0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    480000 | PA      | $480952.94    | 0.08%             | 2059-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CORPUS CHRISTI TX SPL ASSMNT R                                                 | City of Corpus Christi TX                                                        | CUSIP: 220233AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    152000 | PA      | $152217.09    | 0.03%             | 2044-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                                                 | New York Transportation Development Corp                                         | CUSIP: 650116JK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1095000 | PA      | $1188502.27   | 0.21%             | 2050-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI                                                 | Golden State Tobacco Securitization Corp                                         | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  44890000 | PA      | $4383495.03   | 0.77%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HAMMOCK OAKS CDD FL ASSMNT                                                     | Hammock Oaks Community Development District                                      | CUSIP: 40834PAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $338040.09    | 0.06%             | 2055-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BUDA TX SPL ASSMNT REVENUE                                                     | City of Buda TX                                                                  | CUSIP: 118829AC4<br>LEI: 549300M2WWWL7K4QS327 | Long             | DBT              | MUN               | US        |    345000 | PA      | $340062.67    | 0.06%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| YAMHILL CNTY OR HOSP AUTH                                                      | Yamhill County Hospital Authority                                                | CUSIP: 98464UAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300478.08    | 0.05%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                                     | Public Finance Authority                                                         | CUSIP: 74442PEW1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    195000 | PA      | $19500.00     | 0.00%             | 2047-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU                                                 | City of Princeton TX                                                             | CUSIP: 742400CN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $148361.73    | 0.03%             | 2054-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                                                 | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837036HH8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    320000 | PA      | $313152.03    | 0.06%             | 2060-10-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YEN1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     49170 | PA      | $32820.98     | 0.01%             | 2020-07-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH MF                                                 | California Municipal Finance Authority                                           | CUSIP: 130483KN9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300489.48    | 0.05%             | 2056-08-01      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| GRAND OAKS CDD FL SPL ASSMNT R                                                 | Grand Oaks Community Development District                                        | CUSIP: 38611CAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $204851.49    | 0.04%             | 2040-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YDL6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    930000 | PA      | $620775.00    | 0.11%             | 2023-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YFP5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     30000 | PA      | $20025.00     | 0.00%             | 2018-07-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| MIDAS MOUNTAIN VETERANS PROGRA                                                 | MIDA Mountain Veterans Program Public Infrastructure District                    | CUSIP: 59561SAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $790397.52    | 0.14%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MET ATLANTA RAPID TRANSIT AUTH                                                 | Metropolitan Atlanta Rapid Transit Authority                                     | CUSIP: 591746CA8<br>LEI: 5493006NVWO3NVLK0F49 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3235039.10   | 0.57%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANDRIDGE CMNTY DEV DIST FL SP                                                 | Sandridge Community Development District                                         | CUSIP: 80007LAD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $112192.95    | 0.02%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTH                                                  | Louisiana Public Facilities Authority                                            | CUSIP: 546398C71<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2700000.00   | 0.47%             | 2047-07-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRR                                                 | Puerto Rico Electric Power Authority                                             | CUSIP: 74526YAF2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    177018 | PA      | $118159.52    | 0.02%             | 2019-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                                                 | Arizona Industrial Development Authority                                         | CUSIP: 04052BAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75335.59     | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Age                                                 | California Housing Finance Agency                                                | CUSIP: 13033DAJ4<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | MUN               | US        |    915796 | PA      | $878208.29    | 0.15%             | 2036-08-20      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD                                                 | Michigan Strategic Fund                                                          | CUSIP: 594698PM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210090.76    | 0.04%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH                                                  | Orange County Health Facilities Authority                                        | CUSIP: 68450LDT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250242.13    | 0.04%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS ST DEV FIN AUTH INDL                                                  | Arkansas Development Finance Authority                                           | CUSIP: 04108WCE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $967202.19    | 0.17%             | 2048-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                                                 | Utah Charter School Finance Authority                                            | CUSIP: 91754TKA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1614967.54   | 0.28%             | 2044-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROUT CREEK CDD FL CAPITAL IMP                                                 | Trout Creek Community Development District                                       | CUSIP: 897188AE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $137041.81    | 0.02%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                                                 | Public Finance Authority                                                         | CUSIP: 74442EFW5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2159982.83   | 0.38%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**Name of Applicant:** BlackRock Allocation Target Shares

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer