# EDGAR Filing Document

**Accession Number:** 0000319676
**File Stem:** 0001752724-23-049168
**Filing Date:** 2023-3
**Character Count:** 118789
**Document Hash:** c72ff8387c9206ffba892dcf3d4ad759
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049168.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049168

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calvert Management Series
- **CENTRAL INDEX KEY:** 0000319676
- **IRS NUMBER:** 526211999
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03101
- **FILM NUMBER:** 23690879

**BUSINESS ADDRESS:**
- **STREET 1:** 1825 CONNECTICUT AVENUE NW
- **STREET 2:** SUITE 400
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20009
- **BUSINESS PHONE:** 8002256265

**MAIL ADDRESS:**
- **STREET 1:** 1825 CONNECTICUT AVENUE NW
- **STREET 2:** SUITE 400
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20009

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CALVERT TAX FREE RESERVES
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Calvert Responsible Municipal Income Fund (Series ID: S000005140)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014074 | Class A      | CTTLX           |
| C000160651 | Class C      | CTTCX           |
| C000160653 | Class I      | CTTIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Calvert Management Series

- **b. Investment Company Act file number:** 811-03101

- **c. CIK number of Registrant:** 0000319676

- **d. LEI of Registrant:** 549300JLDDCMBLNYVQ38

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

  - **Street Address 1:** 1825 Connecticut Avenue NW,

  - **City:** Washington

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20009

  - **Telephone number:** 202-238-2200

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

- **a. Name of Series:** Calvert Responsible Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000005140

- **c. LEI of Series:** 549300ZG1E6BAXLWCV59

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

- **a. Date of fiscal year-end:** 2022-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $429383752.36

**Total Liabilities:** $3020951.49

**Net Assets:** $426362800.87

**Delayed Delivery Securities:** $1563885.00

**Cash Not Reported:** $140859.56

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -405.06000000 | **1-Year:** -21012.32000000 | **5-Year:** -81806.52000000 | **10-Year:** -126801.74000000 | **30-Year:** -14981.25000000

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

- **3-Month:** -22.96000000 | **1-Year:** -708.96000000 | **5-Year:** -3036.44000000 | **10-Year:** -2059.44000000 | **30-Year:** -549.21000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000160653 | -0.54%               | 4.30%                | 0.24%                |
| Class ID C000014074 | -0.63%               | 4.29%                | 0.22%                |
| Class ID C000160651 | -0.63%               | 4.15%                | 0.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3915666.52             | $623543.00                                 |
| Month 2  | $-2391594.99             | $19506496.60                               |
| Month 3  | $-671467.48              | $588205.77                                 |

**Designated Index Information**

- **Index Name:** BB Barclays Municipal Bd

- **Index Identifier:** MBINDEX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| District of Columbia Housing Finance Agency                                     | DIST OF COLUMBIA HSG FIN AGY MF HSG REVENUE                         | CUSIP: 25477PPS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2884695.75   | 0.68%             | 2026-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                           | CUSIP: 544445B57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5489350.00   | 1.29%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                         | MASSACHUSETTS ST WTR RESOURCES AUTH                                 | CUSIP: 576051PP5<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081990.00   | 0.25%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE         | CUSIP: 13013JAX4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008420.00   | 0.47%             | 2052-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Kern Community College District                                                 | KERN CA CMNTY CLG DIST                                              | CUSIP: 492244GQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2303880.00   | 0.54%             | 2038-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                     | WASHINGTON ST HSG FIN COMMISSION                                    | CUSIP: 93978TS59<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1602570 | PA      | $1412970.35   | 0.33%             | 2035-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                          | CUSIP: 56681NGR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $430545.00    | 0.10%             | 2031-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Desert Sands Unified School District                                            | DESERT SANDS CA UNIF SCH DIST                                       | CUSIP: 250433TR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2161220.00   | 0.51%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH HLTH FAC REVENUE                                | CUSIP: 45471CBR8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2520000 | PA      | $2260364.40   | 0.53%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                            | CUSIP: 57587GPD1<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978350.00    | 0.23%             | 2026-12-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| East Bay Municipal Utility District Water System Revenue                        | EAST BAY CA MUNI UTILITY DIST WTR SYS REVENUE                       | CUSIP: 271014C91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091740.00   | 0.26%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                     | DIST OF COLUMBIA HSG FIN AGY MF HSG REVENUE                         | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3795187.50   | 0.89%             | 2040-09-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                            | COLORADO ST HLTH FACS AUTH REVENUE                                  | CUSIP: 19648FTW4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1223988.75   | 0.29%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI REVENUE                                          | CUSIP: 74442PVT9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $829584.00    | 0.19%             | 2032-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH HLTH FAC REVENUE                                | CUSIP: 45471CBQ0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1103225.70   | 0.26%             | 2035-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                           | NEW YORK ST HSG FIN AGY                                             | CUSIP: 64987DM27<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1589979.60   | 0.37%             | 2039-11-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                | CUSIP: 57583U6R4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3015480.00   | 0.71%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                            | DIST OF COLUMBIA REVENUE                                            | CUSIP: 25483VUU6<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    360000 | PA      | $363985.20    | 0.09%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                                                        | Nature Conservancy/The                                              | CUSIP: 63902HAH2<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1317390.84   | 0.31%             | 2025-07-01      | Fixed         | 0.79%                 | No            |                  2 | On Loan: No      |
| Larkspur-Corte Madera School District                                           | LARKSPUR-CORTE MADERA CA SCH DIST                                   | CUSIP: 51724TCY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $331373.35    | 0.08%             | 2030-08-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                | CUSIP: 57584Y3L1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1168870.00   | 0.27%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | INDIANA ST HSG & CMNTY DEV AUTH SF MTGE REVENUE                     | CUSIP: 45505TYA3<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017780.00   | 0.24%             | 2037-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                                         | MASSACHUSETTS ST WTR RESOURCES AUTH                                 | CUSIP: 576051SG2<br>LEI: 549300GBS2G3YGHOYO19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1647420.00   | 0.39%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERH1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    110000 | PA      | $109707.40    | 0.03%             | 2026-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                            | DIST OF COLUMBIA REVENUE                                            | CUSIP: 25483VXZ2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013630.00   | 0.24%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Trinity Public Utilities District                                               | TRINITY CA PUBLIC UTILITIES DIST FING AUTH ELEC REVENUE             | CUSIP: 89656BBK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1119451.20   | 0.26%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City MO                                                          | KANSAS CITY MO SPL OBLG                                             | CUSIP: 485106MK1<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |    600000 | PA      | $608280.00    | 0.14%             | 2035-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                                        | PASSAIC CNTY NJ IMPT AUTH CNTY GTD GOVTL LOAN REVENUE               | CUSIP: 702755DE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1175000 | PA      | $930459.00    | 0.22%             | 2042-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | MICHIGAN ST FIN AUTH REVENUE                                        | CUSIP: 59447TD75<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1259103.70   | 0.30%             | 2037-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Unified School District No 4 Mesa                               | MARICOPA CNTY AZ UNIF SCH DIST #4 MESA                              | CUSIP: 566897WJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1099810.00   | 0.26%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Associated Municipal Power Systems                                         | UTAH ST ASSOCIATED MUNI PWR SYS REVENUE                             | CUSIP: 917328RU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    655000 | PA      | $718214.05    | 0.17%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                   | MASSACHUSETTS ST                                                    | CUSIP: 57582RNE2<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2132520.00   | 0.50%             | 2037-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE            | CUSIP: 130536QV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $819765.50    | 0.19%             | 2025-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alaska Housing Finance Corp                                                     | ALASKA ST HSG FIN CORP                                              | CUSIP: 011839YJ0<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    400000 | PA      | $444024.00    | 0.10%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                           | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                             | CUSIP: 187145NQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $322353.00    | 0.08%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                     | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REV                         | CUSIP: 20774YUS4<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1158639.30   | 0.27%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Douglas County Public Utility District No 1 Wells Hydroelectric Project Revenue | DOUGLAS CNTY WA PUBLIC UTILITY DIST #1 WELLS HYDROELEC              | CUSIP: 259561TQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012580.00   | 0.47%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of North Dakota                                                      | UNIV OF NORTH DAKOTA COPS                                           | CUSIP: 914724BN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1564275.00   | 0.37%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Elementary School District No 2 Riverside                       | MARICOPA CNTY AZ ELEM SCH DIST #2 RIVERSIDE                         | CUSIP: 566747FY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1157520.00   | 0.27%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Department of Environmental Protection                                  | FLORIDA ST DEPT ENVRNMNTL PROT PRESERVATION REVENUE                 | CUSIP: 34160WF25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2730000 | PA      | $3091179.00   | 0.73%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas Development Finance Authority                                            | KANSAS ST DEV FIN AUTH REVENUE                                      | CUSIP: 48542RKE3<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1921265.50   | 0.45%             | 2031-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Water Authority                                                | SAN DIEGO CNTY CA WTR AUTH                                          | CUSIP: 797412EG4<br>LEI: 549300Y0QN5OFKA1G520 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5266500.00   | 1.24%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Snohomish County School District No 4 Lake Stevens                              | SNOHOMISH CNTY WA SCH DIST #4LAKE STEVENS                           | CUSIP: 833124QR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2460000 | PA      | $2512053.60   | 0.59%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE         | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1564005.00   | 0.37%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                           | CUSIP: 13032UVD7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1849120.00   | 0.43%             | 2026-06-01      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERG3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    110000 | PA      | $109846.00    | 0.03%             | 2025-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gretna Public Schools                                                           | SARPY CNTY NE SCH DIST #37                                          | CUSIP: 803770XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1593000.00   | 0.37%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                              | CUSIP: 74439YCR0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    665000 | PA      | $674396.45    | 0.16%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE                   | CUSIP: 45385LMH3<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1144484.75   | 0.27%             | 2034-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                             | CALIFORNIA ST                                                       | CUSIP: 13063DT81<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4629440.00   | 1.09%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Rios Community College District                                             | LOS RIOS CA CMNTY CLG DIST                                          | CUSIP: 545624PM4<br>LEI: 549300POMNL5W7FEFO13 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2084460.00   | 0.49%             | 2033-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLUEHUB LOAN FUND                                                               | BlueHub Loan Fund Inc                                               | CUSIP: 095623AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3471051.16   | 0.81%             | 2030-01-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| City of Fort Wayne IN Sewage Works Revenue                                      | FORT WAYNE IN SEWAGE WKS IMPTREVENUE                                | CUSIP: 349298SX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $1094847.00   | 0.26%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERM0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98439.00     | 0.02%             | 2030-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                            | CONNECTICUT ST                                                      | CUSIP: 20772KSP5<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5610450.00   | 1.32%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX             | CUSIP: 89602HDY0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2161480.00   | 0.51%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                   | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                        | CUSIP: 797661WK7<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1101580.00   | 0.26%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                        | CUSIP: 64972EK32<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3135671.70   | 0.74%             | 2060-11-01      | Floating      | 0.90%                 | No            |                  2 | On Loan: No      |
| Arizona State University                                                        | ARIZONA ST UNIV                                                     | CUSIP: 0406636P6<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2246496.00   | 0.53%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona State University                                                        | ARIZONA BRD OF RGTS ST UNIV SYS REVENUE                             | CUSIP: 04048RQN9<br>LEI: 254900BLZ1MCZ5JLK411 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2074920.00   | 0.49%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara Valley Water District Safe Clean Water Revenue                      | SANTA CLARA VLY CA WTR DIST SAFE CLEAN WTR REVENUE                  | CUSIP: 80168EAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1118450.00   | 0.26%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Health & Educational Facilities Authority                         | MASSACHUSETTS ST HLTH & EDUCTNL FACS AUTH REVENUE                   | CUSIP: 57586EGS4<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2210512.50   | 0.52%             | 2030-11-01      | Floating      | 2.45%                 | No            |                  2 | On Loan: No      |
| Regional Transportation District Sales Tax Revenue                              | REGL TRANSPRTN DIST CO SALES TAX REVENUE                            | CUSIP: 759136SB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1183940.00   | 0.28%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE                | CUSIP: 13034AQ60<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2630000 | PA      | $2593890.10   | 0.61%             | 2047-08-01      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| State of California                                                             | CALIFORNIA ST                                                       | CUSIP: 13063DV21<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1605945.00   | 0.38%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                            | COLORADO ST HLTH FACS AUTH REVENUE                                  | CUSIP: 19648FTU8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1071084.80   | 0.25%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                                                        | Nature Conservancy/The                                              | CUSIP: 63902HAJ8<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1136178.35   | 0.27%             | 2026-07-01      | Fixed         | 0.94%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                   | MASSACHUSETTS ST EDUCTNL FING AUTH                                  | CUSIP: 57563RTB5<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079850.00   | 0.25%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                   | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV                    | CUSIP: 57419RWU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $915870.00    | 0.21%             | 2050-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA FIN AUTH IN WSTWTR UTIL REVENUE                             | CUSIP: 45505MFC5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060610.00   | 0.25%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY                                    | MONROE CNTY NY INDL DEV CORP CHRT SCH REVENUE                       | CUSIP: 61075YAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $673571.10    | 0.16%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Henderson KY                                                            | HENDERSON KY EXEMPT FACS REVENUE                                    | CUSIP: 425099AC2<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1906960.00   | 0.45%             | 2032-01-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Long Beach Unified School District                                              | LONG BEACH CA UNIF SCH DIST                                         | CUSIP: 542433GS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $926180.00    | 0.22%             | 2025-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                          | US 10YR NOTE (CBT)MAR23                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -94 | NC      | $94738.46     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Clifton Higher Education Finance Corp                                           | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                             | CUSIP: 187145NM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $374115.60    | 0.09%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marthas Vineyard Land Bank                                                      | MARTHAS VINEYARD MA LAND BANK REVENUE                               | CUSIP: 573100DS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Housing & Community Development Authority                               | INDIANA ST HSG & CMNTY DEV AUTH SF MTGE REVENUE                     | CUSIP: 45505TYB1<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007260.00   | 0.24%             | 2042-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                        | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2999310.00   | 0.70%             | 2062-11-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| Jackson County Consolidated School District No 4                                | JACKSON CNTY MO CONSOL SCH DIST #4                                  | CUSIP: 467484RX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3635569.00   | 0.85%             | 2036-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Borough of Matanuska-Susitna AK                                                 | MATANUSKA-SUSITNA BORO AK                                           | CUSIP: 576544W71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1760781.20   | 0.41%             | 2029-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                         | CUSIP: 70879QSB0<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2910060.00   | 0.68%             | 2042-10-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERF5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    120000 | PA      | $119892.00    | 0.03%             | 2024-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                                      | CHICAGO IL BRD OF EDU                                               | CUSIP: 167505SL1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2550250.00   | 0.60%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                                   | MASSACHUSETTS ST EDUCTNL FING AUTH                                  | CUSIP: 57563RTC3<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1100940.00   | 0.26%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                             | NEW YORK NY                                                         | CUSIP: 64966LDH1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2045260.00   | 0.48%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta GA                                                              | ATLANTA GA                                                          | CUSIP: 047772J82<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $4011560.00   | 0.94%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                                 | HAWAII ST                                                           | CUSIP: 419792LR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2046260.00   | 0.48%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kern Community College District                                                 | KERN CA CMNTY CLG DIST                                              | CUSIP: 492244GS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1367928.00   | 0.32%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE                | CUSIP: 13034AYT1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1124730.00   | 0.26%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT                | CUSIP: 65000BNL8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1062300.00   | 0.25%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008EKU9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1980818.55   | 0.46%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust/The                                             | MASSACHUSETTS ST CLEAN WTR TRUST                                    | CUSIP: 575829JV9<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3332910.00   | 0.78%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE                   | CUSIP: 45385LNC3<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |    500000 | PA      | $425665.00    | 0.10%             | 2031-06-15      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                       | NEW JERSEY ST ECON DEV AUTH REV                                     | CUSIP: 64577XDV5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1297656.00   | 0.30%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of South Carolina                                                    | UNIV OF SOUTH CAROLINA SC HGREDU REVENUE                            | CUSIP: 913367FN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2679451.25   | 0.63%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                               | IDAHO ST HLTH FACS AUTH REVENUE                                     | CUSIP: 451295C56<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    710000 | PA      | $669948.90    | 0.16%             | 2039-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE                | CUSIP: 13034AGK0<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2130620.00   | 0.50%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                             | CALIFORNIA PUBLIC FIN AUTH SENIOR LIVING REVENUE                    | CUSIP: 13057GAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $315273.00    | 0.07%             | 2027-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                               | CALIFORNIA HSG FIN AGY MUNI CTFS                                    | CUSIP: 13033DAE5<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   2557807 | PA      | $2315148.09   | 0.54%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE                    | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1996040.00   | 0.47%             | 2041-10-01      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Douglas County Public Utility District No 1 Wells Hydroelectric Project Revenue | DOUGLAS CNTY WA PUBLIC UTILITY DIST #1 WELLS HYDROELEC              | CUSIP: 259561TR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1996820.00   | 0.47%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                            | CUSIP: 57587ANE4<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    750000 | PA      | $737880.00    | 0.17%             | 2028-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| City of Fort Wayne IN Sewage Works Revenue                                      | FORT WAYNE IN SEWAGE WKS IMPTREVENUE                                | CUSIP: 349298SW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1130914.80   | 0.27%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Higher Education Facilities Authority                                 | MINNESOTA ST HGR EDU FACS AUTH REVENUE                              | CUSIP: 60416JEW6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    445000 | PA      | $498938.45    | 0.12%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp                                    | NEW YORK ST ENVRNMNTL FACS CORP REVENUE                             | CUSIP: 64985HR66<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3346230.00   | 0.78%             | 2052-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                  | TEXAS ST                                                            | CUSIP: 882724D38<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   3185000 | PA      | $3604241.55   | 0.85%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Virginia Transportation Commission                                     | NORTHERN VIRGINA TRANSPRTN COMMN TRANSPRTN DIST SPL OBLIG           | CUSIP: 66604PAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1588400.00   | 0.37%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                                       | LOS ANGELES CA CMNTY CLG DIST                                       | CUSIP: 54438CZM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3498420.00   | 0.82%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE                   | CUSIP: 45385LMN0<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1027140.00   | 0.24%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                               | CALIFORNIA ST HSG FIN AGY REVENUE                                   | CUSIP: 13034PC96<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4800600.00   | 1.13%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                            | CUSIP: 57587GRB3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2557825.00   | 0.60%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hudson Yards Infrastructure Corp                                                | HUDSON YARDS INFRASTRUCTURE CORP NY 2ND INDENTURE REVENUE           | CUSIP: 44420RBZ2<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2310322.00   | 0.54%             | 2038-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue      | LOS ANGELES CNTY CA MET TRANSPRTN AUTH SALES TAX REVENUE            | CUSIP: 54466HHE9<br>LEI: 54930051IHTXE1N9RB42 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2170940.00   | 0.51%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Valley State University                                                   | GRAND VLY MI ST UNIV REVENUE                                        | CUSIP: 386545LB1<br>LEI: 5493004492FRREYG5M95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056240.00   | 0.25%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE               | CUSIP: 83646ADD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $535250.85    | 0.13%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Health Facilities Authority                                               | IDAHO ST HLTH FACS AUTH REVENUE                                     | CUSIP: 451295C64<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    845000 | PA      | $792381.85    | 0.19%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maryland Community Development Administration                                   | MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV                    | CUSIP: 57419RWS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1479681.00   | 0.35%             | 2040-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                         | CUSIP: 70879QKH5<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $952852.50    | 0.22%             | 2028-10-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA                                                          | LOS ANGELES CA                                                      | CUSIP: 544351QR3<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3031050.00   | 0.71%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                | CUSIP: 57584Y3K3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1178250.00   | 0.28%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA Wastewater System Revenue                                | LOS ANGELES CA WSTWTR SYS REVENUE                                   | CUSIP: 53945CGD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2146940.00   | 0.50%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                           | MONTGOMERY CNTY PA INDL DEV AUTH                                    | CUSIP: 613609K96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $410485.50    | 0.10%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE               | CUSIP: 83646ACU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16902.75     | 0.00%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Nez Perce ID                                                          | NEZ PERCE CNTY ID POLL CONTROL REVENUE                              | CUSIP: 653337AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $983250.00    | 0.23%             | 2024-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp                       | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP HOSP REVENUE             | CUSIP: 87638QSG5<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2218960.00   | 0.52%             | 2052-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Utah Housing Corp                                                               | UTAH ST HSG CORP SF MTGE REVENUE                                    | CUSIP: 9174366X0<br>LEI: 549300YXWQEI0S47WI02 | Long             | DBT              | MUN               | US        |    740000 | PA      | $732992.20    | 0.17%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Port Authority                                                    | MASSACHUSETTS ST PORT AUTH                                          | CUSIP: 575896YT6<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4338600.00   | 1.02%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                              | S ESTRN PA TRANSPRTN AUTH                                           | CUSIP: 842039FK0<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3398100.00   | 0.80%             | 2039-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Austin TX Water & Wastewater System Revenue                             | AUSTIN TX WTR & WSTWTR SYS REVENUE                                  | CUSIP: 0524762U1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2185960.00   | 0.51%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                      | ILLINOIS ST FIN AUTH REVENUE                                        | CUSIP: 45204EYB8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1617450.00   | 0.38%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                                  | CENTRL PUGET SOUND WA REGL TRANSIT AUTH SALES & USE TAX             | CUSIP: 15504RGG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2662850.00   | 0.62%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                                      | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2981438 | PA      | $2881321.49   | 0.68%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Antelope Valley Community College District                                      | ANTELOPE VLY CA CMNTY CLG DIST                                      | CUSIP: 03667PHZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3325770.00   | 0.78%             | 2042-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Maryland Economic Development Corp                                              | MARYLAND ST ECON DEV CORP STUDENT HSG REVENUE                       | CUSIP: 57420VSM6<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065440.00   | 0.25%             | 2043-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH MOBILE HOME PARK REVENUE                | CUSIP: 13049SCK8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1317227.20   | 0.31%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Alameda CA                                                            | ALAMEDA CNTY CA                                                     | CUSIP: 010878BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1954160.00   | 0.46%             | 2024-08-01      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| Battery Park City Authority                                                     | BATTERY PARK CITY NY AUTH                                           | CUSIP: 07133AHK1<br>LEI: 549300RF3SFDOWRHVM56 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1279761.70   | 0.30%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                                | CUSIP: 796247DR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $825560.00    | 0.19%             | 2029-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                   | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                        | CUSIP: 797661A62<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1129070.00   | 0.26%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                                | CUSIP: 796247DP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $520968.00    | 0.12%             | 2027-04-01      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                        | CUSIP: 64972ESA8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $880022.60    | 0.21%             | 2032-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE               | CUSIP: 83646ACS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $16686.30     | 0.00%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Housing Finance Agency                                            | MASSACHUSETTS ST HSG FIN AGY HSG REVENUE                            | CUSIP: 57587GPB5<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1473090.00   | 0.35%             | 2024-12-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Illinois Educational Facilities Authority                                       | ILLINOIS ST EDUCTNL FACS AUTH                                       | CUSIP: 45201QCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004550.00   | 0.24%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Alaska Housing Finance Corp                                                     | ALASKA ST HSG FIN CORP                                              | CUSIP: 011839YH4<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    350000 | PA      | $385542.50    | 0.09%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                             | GEISINGER PA AUTH HLTH SYS REVENUE                                  | CUSIP: 368497JX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5279500.00   | 1.24%             | 2043-04-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                   | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                        | CUSIP: 797661A47<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085910.00   | 0.25%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine State Housing Authority                                                   | MAINE ST HSG AUTH MTGE PURCHASE                                     | CUSIP: 56052FYS8<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |   1615000 | PA      | $1520764.75   | 0.36%             | 2042-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                           | CUSIP: 13032UVB1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $964370.00    | 0.23%             | 2024-06-01      | Fixed         | 2.02%                 | No            |                  2 | On Loan: No      |
| State of Connecticut Clean Water Fund - State Revolving Fund                    | CONNECTICUT ST REVOLVING FUNDGEN REVENUE                            | CUSIP: 20775YDN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1241460.00   | 0.29%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City MO                                                          | KANSAS CITY MO SPL OBLG                                             | CUSIP: 485106MJ4<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508870.00    | 0.12%             | 2034-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                        | CUSIP: 64972ERZ4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1753206.00   | 0.41%             | 2032-05-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                         | CUSIP: 68608JYR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $161079.50    | 0.04%             | 2027-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                      | MICHIGAN ST FIN AUTH REVENUE                                        | CUSIP: 59447THE6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1818320.00   | 0.43%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hospitals & Higher Education Facilities Authority of Philadelphia/The           | PHILADELPHIA PA HOSPS & HGR EDU FACS AUTH                           | CUSIP: 717825PY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544395.00    | 0.13%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cuyahoga Metropolitan Housing Authority                                         | CUYAHOGA OH MET HSG AUTH REVENUE                                    | CUSIP: 232394BM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1098225.00   | 0.26%             | 2031-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX             | CUSIP: 89602HDZ7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2177320.00   | 0.51%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH REVENUE                                         | CUSIP: 45506DNM3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1152340.10   | 0.27%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Houston Independent School District                                             | HOUSTON TX INDEP SCH DIST                                           | CUSIP: 442403PS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2275206.00   | 0.53%             | 2039-06-01      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                           | CUSIP: 13032UVC9<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1414815.00   | 0.33%             | 2025-06-01      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                          | IOWA ST FIN AUTH REVENUE                                            | CUSIP: 46246K6D9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1641450.00   | 0.38%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ypsilanti School District/MI                                                    | YPSILANTI MI SCH DIST                                               | CUSIP: 987864NS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068290.00   | 0.25%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI STUDENT HSG REVENUE                              | CUSIP: 74439YCS8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    365000 | PA      | $369770.55    | 0.09%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Educational Facilities Authority                                       | ILLINOIS ST EDUCTNL FACS AUTH                                       | CUSIP: 45201QCY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022120.00   | 0.24%             | 2036-11-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA Wastewater System Revenue                                | LOS ANGELES CA WSTWTR SYS REVENUE                                   | CUSIP: 53945CJS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112880.00   | 0.26%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                             | CALIFORNIA ST                                                       | CUSIP: 13063CA34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035250.00   | 0.24%             | 2032-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Alaska Housing Finance Corp                                                     | ALASKA ST HSG FIN CORP                                              | CUSIP: 011839YL5<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    360000 | PA      | $403106.40    | 0.09%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Beaverton OR Water Revenue                                              | BEAVERTON OR WTR REVENUE                                            | CUSIP: 07556MGF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1629687.50   | 0.38%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Wisconsin Hospitals & Clinics                                     | UNIV HOSPS & CLINICS AUTH WI                                        | CUSIP: 915260DS9<br>LEI: 549300O76DW14JGO7224 | Long             | DBT              | MUN               | US        |    590000 | PA      | $505258.30    | 0.12%             | 2028-04-01      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                             | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                         | CUSIP: 708796U47<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    930000 | PA      | $911567.40    | 0.21%             | 2035-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                              | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT                | CUSIP: 65000BNP9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    750000 | PA      | $842632.50    | 0.20%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                   | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                        | CUSIP: 797661A54<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108340.00   | 0.26%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Higher Education Facilities Authority                                 | MINNESOTA ST HGR EDU FACS AUTH REVENUE                              | CUSIP: 60416JEV8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    635000 | PA      | $705338.95    | 0.17%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE               | CUSIP: 83646ADF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $542894.45    | 0.13%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Health & Educational Facilities Authority of the State of Missouri              | MISSOURI ST HLTH & EDUCTNL FACS AUTH HLTH FACS REVENUE              | CUSIP: 60637AVK5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079460.00   | 0.25%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI EDU REVENUE                                      | CUSIP: 74442EGT1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $845670.00    | 0.20%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                                | CUSIP: 796247DM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $551736.00    | 0.13%             | 2025-04-01      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| Discovery Clean Water Alliance                                                  | DISCOVERY CLEAN WTR ALLIANCE WA SWR REVENUE                         | CUSIP: 25472TBB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2545520.60   | 0.60%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Larkspur-Corte Madera School District                                           | LARKSPUR-CORTE MADERA CA SCH DIST                                   | CUSIP: 51724TCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $312812.00    | 0.07%             | 2031-08-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                              | PHILADELPHIA PA WTR & WSTWTR REVENUE                                | CUSIP: 717893Y70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1147490.00   | 0.27%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                 | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE            | CUSIP: 64972GC28<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075070.00   | 0.25%             | 2047-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                            | CUSIP: 59259N8D8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2453928.75   | 0.58%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                                        | Morgan Stanley Institutional Liquidity Funds - Government Portfolio | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   6785252 | NS      | $6785252.20   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                         | CUSIP: 68608JYT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $230895.50    | 0.05%             | 2029-07-01      | Fixed         | 2.43%                 | No            |                  2 | On Loan: No      |
| Benton & Linn Counties Consolidated School District No 509J & 509A Corvallis    | BENTON & LINN CNTYS OR SCH DIST #509J CORVALLIS                     | CUSIP: 082744CL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3790000 | PA      | $4088917.30   | 0.96%             | 2026-06-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund Revenue                       | MASSACHUSETTS ST TRANSPRTN FUND REVENUE                             | CUSIP: 57604TKC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077360.00   | 0.25%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                   | OHIO ST PRIVATE ACTIVITY REVENUE                                    | CUSIP: 67759YAM9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028560.00   | 0.24%             | 2030-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                                   | MASSACHUSETTS ST SPL OBLG REVENUE                                   | CUSIP: 576004GV1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1490475.00   | 0.35%             | 2023-07-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                           | NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE                      | CUSIP: 64987JSG7<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1912700.00   | 0.45%             | 2060-11-01      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                          | VERMONT ST ECON DEV AUTH MTGEREVENUE                                | CUSIP: 92415TBJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1879631.25   | 0.44%             | 2024-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH MUNI CTFS                                      | CUSIP: 63607WAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2990988 | PA      | $2787032.38   | 0.65%             | 2036-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara Valley Water District Safe Clean Water Revenue                      | SANTA CLARA VLY CA WTR DIST SAFE CLEAN WTR REVENUE                  | CUSIP: 80168EAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5522400.00   | 1.30%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA FIN AUTH IN WSTWTR UTIL REVENUE                             | CUSIP: 45505MHB5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3179670.00   | 0.75%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                                  | CENTRL PUGET SOUND WA REGL TRANSIT AUTH SALES & USE TAX             | CUSIP: 15504RGE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065140.00   | 0.25%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salem-Keizer School District No 24J                                             | MARION & POLK CNTYS OR SCH DIST #24J SALEM                          | CUSIP: 569203PL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5076750.00   | 1.19%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                              | DETROIT MI                                                          | CUSIP: 2510935J5<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    400000 | PA      | $383508.00    | 0.09%             | 2024-04-01      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| Tustin Unified School District                                                  | TUSTIN CA UNIF SCH DIST SCH FACS IMPT DIST                          | CUSIP: 901072KU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $430953.20    | 0.10%             | 2029-08-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                          | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                        | CUSIP: 64972CKE2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    980000 | PA      | $984135.60    | 0.23%             | 2030-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Tampa Bay Water                                                                 | TAMPA BAY FL WTR REGL WTR SPLY AUTH UTILITY SYS REVENUE             | CUSIP: 875124HL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3905475.00   | 0.92%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of Utah/The                                                          | UNIV OF UTAH UT REVENUES                                            | CUSIP: 915183Z75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1305169.50   | 0.31%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                            | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                       | CUSIP: 70917SZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1559920.00   | 0.37%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERE8<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99880.00     | 0.02%             | 2023-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Narragansett Bay Commission                                                     | NARRAGANSETT BAY RI COMMISSION WSTWTR SYS REVENUE                   | CUSIP: 631060CK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $627693.00    | 0.15%             | 2024-09-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Alaska Housing Finance Corp                                                     | ALASKA ST HSG FIN CORP                                              | CUSIP: 011839YK7<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    440000 | PA      | $489337.20    | 0.11%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH REVENUE                                         | CUSIP: 45506DZH1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2157580.00   | 0.51%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hospitals & Higher Education Facilities Authority of Philadelphia/The           | PHILADELPHIA PA HOSPS & HGR EDU FACS AUTH                           | CUSIP: 717825PZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270290.00    | 0.06%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                        | PUBLIC FIN AUTH WI EDU REVENUE                                      | CUSIP: 74442EGS3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    325000 | PA      | $308802.00    | 0.07%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| School District of Broward County/FL                                            | BROWARD CNTY FL SCH DIST                                            | CUSIP: 115067LC2<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   5155000 | PA      | $5635239.80   | 1.32%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                                  | CENTRL PUGET SOUND WA REGL TRANSIT AUTH SALES & USE TAX             | CUSIP: 15504RGC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1141888.00   | 0.27%             | 2033-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                                | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                          | CUSIP: 56681NGJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $227045.00    | 0.05%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Warm Springs Reservation Confederated Tribe                                     | WARM SPRINGS OR RESERVATION CONFEDERATED TRIBES                     | CUSIP: 934312AR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $683686.50    | 0.16%             | 2025-11-01      | Fixed         | 2.02%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA FIN AUTH IN WSTWTR UTIL REVENUE                             | CUSIP: 45505MEW2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077050.00   | 0.25%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERK4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    125000 | PA      | $124187.50    | 0.03%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                           | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                          | CUSIP: 70869PMF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2093025.00   | 0.49%             | 2039-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERJ7<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |     80000 | PA      | $79614.40     | 0.02%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio State University/The                                                       | OHIO ST UNIV                                                        | CUSIP: 677632YS4<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |     85000 | PA      | $97167.75     | 0.02%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Bayside Waste Management Authority                                        | S BAYSIDE CA WST MGMT AUTH SOL WST ENTERPRISE REVENUE               | CUSIP: 83646ADA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1539099.70   | 0.36%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Rhode Island                                                           | RHODE ISLAND ST & PROVIDENCE PLANTATIONS                            | CUSIP: 76222RWM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2740577.00   | 0.64%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wasatch County School District Local Building Authority                         | WASATCH CNTY SCH DIST LOCAL BLDG AUTH LEASE REVENUE                 | CUSIP: 936785AU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3904005.00   | 0.92%             | 2047-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Discovery Clean Water Alliance                                                  | DISCOVERY CLEAN WTR ALLIANCE WA SWR REVENUE                         | CUSIP: 25472TBC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2641011.20   | 0.62%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                        | MASSACHUSETTS ST DEV FIN AGY REVENUE                                | CUSIP: 57584XNV9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $525700.00    | 0.12%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                           | MET TRANSPRTN AUTH NY DEDICATED TAX FUND                            | CUSIP: 59259N6L2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1071460.00   | 0.25%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                         | CUSIP: 68608JYP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $137341.50    | 0.03%             | 2025-07-01      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| North East Independent School District/TX                                       | NORTH EAST TX INDEP SCH DIST                                        | CUSIP: 6591542W7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075940.00   | 0.25%             | 2026-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                            | CONNECTICUT ST                                                      | CUSIP: 20772JYR7<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040680.00   | 0.24%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fairfax County Economic Development Authority                                   | FAIRFAX CNTY VA ECON DEV AUTH REVENUE                               | CUSIP: 30382EHE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1449043.40   | 0.34%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Utah/The                                                          | UNIV OF UTAH UT REVENUES                                            | CUSIP: 915183Z59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2306900.00   | 0.54%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Higher Education Facilities Authority                                 | MINNESOTA ST HGR EDU FACS AUTH REVENUE                              | CUSIP: 60416JEU0<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    600000 | PA      | $658350.00    | 0.15%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                       | INDIANA ST FIN AUTH REVENUE                                         | CUSIP: 45506EGV9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1134070.00   | 0.27%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp                                                | IOWA ST STUDENT LOAN LIQUIDITY CORP                                 | CUSIP: 462590NJ5<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3297780.00   | 0.77%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Detroit MI                                                              | DETROIT MI                                                          | CUSIP: 2510935H9<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    375000 | PA      | $371895.00    | 0.09%             | 2023-04-01      | Fixed         | 2.02%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                          | LOS ANGELES CA UNIF SCH DIST                                        | CUSIP: 544647GD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5552300.00   | 1.30%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Bexar TX                                                              | BEXAR CNTY TX                                                       | CUSIP: 088281VY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2064860.00   | 0.48%             | 2032-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                        | NATIONAL FIN AUTH NH REVENUE                                        | CUSIP: 63607YAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1955000 | PA      | $1560500.55   | 0.37%             | 2045-07-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                     | DISTRICT OF COLUMBIA HSG FIN AGY                                    | CUSIP: 254768XD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2924250.00   | 0.69%             | 2028-09-01      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                            | COLORADO ST HLTH FACS AUTH REVENUE                                  | CUSIP: 19648FTV6<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1155033.75   | 0.27%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Groton CT                                                               | GROTON CITY CT                                                      | CUSIP: 399280E93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995230.00    | 0.23%             | 2042-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Harris County Flood Control District                                            | HARRIS CNTY TX FLOOD CONTROL DIST                                   | CUSIP: 414019BK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1436887.50   | 0.34%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                            | TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX             | CUSIP: 89602HEY9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1773855.00   | 0.42%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                                | CUSIP: 796247DN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $491040.00    | 0.12%             | 2026-04-01      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                           | CUSIP: 544445C23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3503552.00   | 0.82%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                            | CONNECTICUT ST                                                      | CUSIP: 20772KRT8<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1117580.00   | 0.26%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency                                    | NEW JERSEY ST HSG & MTGE FIN AGY REVENUE                            | CUSIP: 64613AFV9<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   3665000 | PA      | $3711802.05   | 0.87%             | 2032-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Oregon State Facilities Authority                                               | OREGON ST FACS AUTH REVENUE                                         | CUSIP: 68608JYV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $284994.50    | 0.07%             | 2031-07-01      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| Missouri Joint Municipal Electric Utility Commission                            | MISSOURI JT MUNI ELEC UTILITY COMMISSION PWR SUPPLY SYS REV         | CUSIP: 606094DU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2152240.00   | 0.50%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ohio State University/The                                                       | OHIO ST UNIV                                                        | CUSIP: 677632ZK0<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |   1915000 | PA      | $2193019.70   | 0.51%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Clean Water Trust/The                                             | MASSACHUSETTS ST WTR POLL ABATEMENT TRUST                           | CUSIP: 57604PB94<br>LEI: 549300SYPEROLSQU0261 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1161770.00   | 0.27%             | 2029-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                           | SAN ANTONIO TX EDU FACS CORP REVENUE                                | CUSIP: 796247DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1007239.80   | 0.24%             | 2028-04-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| City of Mesa AZ Utility System Revenue                                          | MESA AZ UTILITY SYS REVENUE                                         | CUSIP: 590545C80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111850.00   | 0.26%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tampa FL Water & Wastewater System Revenue                              | TAMPA FL WTR & WSTWTR SYS REVENUE                                   | CUSIP: 875291BK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2250700.00   | 0.53%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Community College District/CA                                       | LOS ANGELES CA CMNTY CLG DIST                                       | CUSIP: 54438CZL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2348600.00   | 0.55%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                                                         | BUILD NYC RESOURCE CORP NY REVENUE                                  | CUSIP: 12008ERN8<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $97701.00     | 0.02%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fairfax County Economic Development Authority                                   | FAIRFAX CNTY VA ECON DEV AUTH REVENUE                               | CUSIP: 30382EHF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1581090.10   | 0.37%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority                                            | INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE                   | CUSIP: 45385LMU4<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |    175000 | PA      | $174723.50    | 0.04%             | 2024-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                            | DIST OF COLUMBIA REVENUE                                            | CUSIP: 25483VZL1<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   4430000 | PA      | $4673605.70   | 1.10%             | 2028-02-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Warm Springs Reservation Confederated Tribe                                     | WARM SPRINGS OR RESERVATION CONFEDERATED TRIBES                     | CUSIP: 934312AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1035299.85   | 0.24%             | 2028-11-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| CONSERVATION FUND                                                               | Conservation Fund A Nonprofit Corp/The                              | CUSIP: 20848FAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3493000 | PA      | $3005921.69   | 0.71%             | 2029-12-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-03

**Name of Applicant:** Calvert Management Series

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer