# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-25-001570
**Filing Date:** 2025-11
**Character Count:** 136211
**Document Hash:** 80aeafc11b6c669c9d616305b9a0cc77
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-001570.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0002066578-25-001570

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 251506537

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### INTERMEDIATE TAX-EXEMPT FUND (Series ID: S000001258)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000003404 | INTERMEDIATE TAX-EXEMPT FUND | NOITX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Northern Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

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

- **a. Name of Series:** Intermediate Tax-Exempt Fund

- **b. EDGAR series identifier (if any):** S000001258

- **c. LEI of Series:** 549300B5GNNEVXKAAN15

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1121027229.66

**Total Liabilities:** $23831799.18

**Net Assets:** $1097195430.48

**Delayed Delivery Securities:** $17852360.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 5009.981821459127 | **1-Year:** 81826.688630870539 | **5-Year:** 246436.783574618223 | **10-Year:** 280018.967022251519 | **30-Year:** 15769.024354568877

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

- **3-Month:** 0.000000000000 | **1-Year:** 502.773469686836 | **5-Year:** 349.170066594670 | **10-Year:** 713.769468636719 | **30-Year:** 1568.167773037797

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003404 | 0.07%                | 0.79%                | 1.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2157827.61             | $-573455.83                                |
| Month 2  | $-778606.52              | $6822546.74                                |
| Month 3  | $-577221.08              | $15641096.42                               |

**Designated Index Information**

- **Index Name:** BBG Muni Bond 1-15Y Blend (1-17Y Mat)

- **Index Identifier:** BMB1-17B

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544525UK2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1757875.22   | 0.16%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 3.00% | STATE OF CONNECTICU 3.00% | CUSIP: 20772KLX5<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   5005000 | PA      | $4960909.95   | 0.45%             | 2033-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE HOUSIN VAR | NEW YORK STATE HOUSIN VAR | CUSIP: 64987JKJ9<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    625000 | PA      | $623285.13    | 0.06%             | 2056-11-01      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| MAINE STATE HOUSING 5.00% | MAINE STATE HOUSING 5.00% | CUSIP: 56052UBJ0<br>LEI: 549300SO05LH6D240016 | Long             | DBT              | MUN               | US        |   3730000 | PA      | $4023853.50   | 0.37%             | 2035-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA HOUSING DE 1.95% | VIRGINIA HOUSING DE 1.95% | CUSIP: 92812WBV5<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1297915.06   | 0.12%             | 2032-12-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUS 4.00% | MICHIGAN STATE HOUS 4.00% | CUSIP: 594654RE7<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2505200.40   | 0.23%             | 2037-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PEORIA IL 5.00%   | CITY OF PEORIA IL 5.00%   | CUSIP: 713178FZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $545491.75    | 0.05%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.00% | LOS ANGELES DEPT. O 5.00% | CUSIP: 544532HP2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2480000 | PA      | $2777305.87   | 0.25%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LEE FL TR 5.00% | COUNTY OF LEE FL TR 5.00% | CUSIP: 523523LH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1673161.76   | 0.15%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES DEPT. O 5.25% | LOS ANGELES DEPT. O 5.25% | CUSIP: 5444952T0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3047504.40   | 0.28%             | 2038-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF PHOENIX CIV 5.00% | CITY OF PHOENIX CIV 5.00% | CUSIP: 71883PKN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2034982.00   | 0.19%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%  | WISCONSIN HEALTH & 5.00%  | CUSIP: 97712DT71<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   3875000 | PA      | $4039260.48   | 0.37%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA HOUSING DE 1.60% | VIRGINIA HOUSING DE 1.60% | CUSIP: 92812VZ66<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    880000 | PA      | $774582.42    | 0.07%             | 2031-05-01      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVE 4.75% | LOWER COLORADO RIVE 4.75% | CUSIP: 5481003N4<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    155000 | PA      | $158736.55    | 0.01%             | 2028-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NI US GOV T PORTFOLIO     | NI US GOV T PORTFOLIO     | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |  25342192 | NS      | $25342192.34  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| COUNTY OF MIAMI-DAD 4.00% | COUNTY OF MIAMI-DAD 4.00% | CUSIP: 59335KDF1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2073189.02   | 0.19%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS STATE TOLL 5.00% | ILLINOIS STATE TOLL 5.00% | CUSIP: 452252PZ6<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   2825000 | PA      | $3025423.02   | 0.28%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966Q4U1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5008.71      | 0.00%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSING VAR | NEW YORK CITY HOUSING VAR | CUSIP: 64972CSJ3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3993002.00   | 0.36%             | 2045-11-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE/JEFFERSO 4.00% | LOUISVILLE/JEFFERSO 4.00% | CUSIP: 54659LBU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1291433.75   | 0.12%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%  | WISCONSIN HEALTH & 5.00%  | CUSIP: 97712DSW7<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    670000 | PA      | $684514.75    | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00% | METROPOLITAN WASHIN 5.00% | CUSIP: 592647EG2<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2630000 | PA      | $2723075.44   | 0.25%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEVEL 5.00% | MASSACHUSETTS DEVEL 5.00% | CUSIP: 57584YRS0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519146.25    | 0.05%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HOUSING & 3.00% | WISCONSIN HOUSING & 3.00% | CUSIP: 97689QNA0<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |    165000 | PA      | $146969.39    | 0.01%             | 2039-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING 3.50%  | CALIFORNIA HOUSING 3.50%  | CUSIP: 13033DAE5<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   3255087 | PA      | $3178818.57   | 0.29%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HOUSIN 3.80% | RHODE ISLAND HOUSIN 3.80% | CUSIP: 76221RZ30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1573701.34   | 0.14%             | 2033-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| NORTH MIAMI COMMUNI 5.00% | NORTH MIAMI COMMUNI 5.00% | CUSIP: 661056AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035829.30   | 0.09%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO FIN. AUT 5.00% | NEW MEXICO FIN. AUT 5.00% | CUSIP: 64711PST8<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1579042.37   | 0.14%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES UNIFIED 5.00% | LOS ANGELES UNIFIED 5.00% | CUSIP: 544647JT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2960688.75   | 0.27%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO BRIDGE & T 5.25% | COLORADO BRIDGE & T 5.25% | CUSIP: 19633TAY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1387881.43   | 0.13%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00% | CITY OF LOS ANGELES 5.00% | CUSIP: 544445BZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $604786.14    | 0.06%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA HOUSING FINA 5.00% | ALASKA HOUSING FINA 5.00% | CUSIP: 011839NS2<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5179511.00   | 0.47%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW YORK M 2.75% | STATE OF NEW YORK M 2.75% | CUSIP: 64988YQJ9<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   3150000 | PA      | $2833528.01   | 0.26%             | 2035-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FAC 5.00% | COLORADO HEALTH FAC 5.00% | CUSIP: 19648FVF8<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2267764.00   | 0.21%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPS MULTI-SCHOOL BL 5.00% | IPS MULTI-SCHOOL BL 5.00% | CUSIP: 46263RTS4<br>LEI: 549300BHLK1DUJUYPM91 | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2650698.64   | 0.24%             | 2038-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLORIDA EXP 4.00% | CENTRAL FLORIDA EXP 4.00% | CUSIP: 153476BQ8<br>LEI: 549300JL23Z3Z64M6K65 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5052326.50   | 0.46%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%  | SAN FRANCISCO CITY 5.00%  | CUSIP: 79766DRX9<br>LEI: 213800P9VO3CSYYNM193 | Long             | DBT              | MUN               | US        |   2355000 | PA      | $2414295.84   | 0.22%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHAMPAIGN COUNTY CO 5.00% | CHAMPAIGN COUNTY CO 5.00% | CUSIP: 158249MB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2399788.72   | 0.22%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF PEN 5.00% | COMMONWEALTH OF PEN 5.00% | CUSIP: 70914PR38<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1470709.77   | 0.13%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL 5.00%  | CITY OF CHICAGO IL 5.00%  | CUSIP: 167486M22<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2685000 | PA      | $2794632.04   | 0.25%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI JOINT MUNI 5.00% | MISSOURI JOINT MUNI 5.00% | CUSIP: 606092MA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1587538.26   | 0.14%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HIGHER 5.00% | PENNSYLVANIA HIGHER 5.00% | CUSIP: 70917SS53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5124041.50   | 0.47%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF TRIMBLE KY VAR  | COUNTY OF TRIMBLE KY VAR  | CUSIP: 896224BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $934601.70    | 0.09%             | 2044-09-01      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| CITY OF CHICAGO IL 5.00%  | CITY OF CHICAGO IL 5.00%  | CUSIP: 167736X85<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1275985.43   | 0.12%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA GAS WO 5.00% | PHILADELPHIA GAS WO 5.00% | CUSIP: 71783MDN2<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2822662.79   | 0.26%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNIC 5.50% | NEW YORK CITY MUNIC 5.50% | CUSIP: 64972GP73<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1741734.90   | 0.16%             | 2039-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC D 5.00% | KENTUCKY ECONOMIC D 5.00% | CUSIP: 49126PFZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $576411.06    | 0.05%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TRANSPOR 5.00% | NEW JERSEY TRANSPOR 5.00% | CUSIP: 6461365W7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   3325000 | PA      | $3521447.65   | 0.32%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PLATTE COUNTY REORG 5.25% | PLATTE COUNTY REORG 5.25% | CUSIP: 727717JY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2710000 | PA      | $3053989.79   | 0.28%             | 2034-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENERG VAR | KENTUCKY PUBLIC ENERG VAR | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2144985.80   | 0.20%             | 2055-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| ROCKFORD PUBLIC SCH 5.00% | ROCKFORD PUBLIC SCH 5.00% | CUSIP: 773318WZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3805000 | PA      | $3993094.09   | 0.36%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. 5.25%  | MASSACHUSETTS DEV. 5.25%  | CUSIP: 57585BJS8<br>LEI: 549300Y86NBW6TM3N374 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019839.80   | 0.18%             | 2045-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF SHERMAN TX 5.00%  | CITY OF SHERMAN TX 5.00%  | CUSIP: 824161VN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4123901.60   | 0.38%             | 2048-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 5.00% | ILLINOIS FIN. AUTHO 5.00% | CUSIP: 45203HS52<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1955000 | PA      | $1955390.61   | 0.18%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966MXE4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3840926.34   | 0.35%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 4.00%  | WISCONSIN HEALTH & 4.00%  | CUSIP: 97712DT97<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4223548.43   | 0.38%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.25% | NEW YORK STATE DORM 5.25% | CUSIP: 64990FJG0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2098756.80   | 0.19%             | 2039-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY IND 5.00% | MARICOPA COUNTY IND 5.00% | CUSIP: 56678RAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515931.20   | 0.14%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALLED LAKE CONSOLI 5.00% | WALLED LAKE CONSOLI 5.00% | CUSIP: 932423VE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1673034.51   | 0.15%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 3.00% | COUNTY OF MIAMI-DAD 3.00% | CUSIP: 59335KDJ3<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $5590762.50   | 0.51%             | 2050-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WISCONSIN 5.00%  | STATE OF WISCONSIN 5.00%  | CUSIP: 97705MXH3<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2813928.50   | 0.26%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182QT6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039727.30   | 0.09%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59333P7M4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2810000 | PA      | $3106167.82   | 0.28%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59260XCQ9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   9200000 | PA      | $9611922.64   | 0.88%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO O HARE INTL 5.00% | CHICAGO O HARE INTL 5.00% | CUSIP: 167593L34<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2448911.04   | 0.22%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5578154.00   | 0.51%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH MIAMI COMMUNI 5.00% | NORTH MIAMI COMMUNI 5.00% | CUSIP: 661056AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049573.20   | 0.10%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF RICHMOND KY 5.00% | CITY OF RICHMOND KY 5.00% | CUSIP: 764870GH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1636535.88   | 0.15%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTILITY DEBT SECURI 5.00% | UTILITY DEBT SECURI 5.00% | CUSIP: 91802RBV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2505815.00   | 0.23%             | 2037-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHIPPEWA VALLEY SCH 5.00% | CHIPPEWA VALLEY SCH 5.00% | CUSIP: 170016ZL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400735.72    | 0.04%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY SPE 4.00% | MARICOPA COUNTY SPE 4.00% | CUSIP: 56756TAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2492490.00   | 0.23%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHOENIX CIV 5.00% | CITY OF PHOENIX CIV 5.00% | CUSIP: 71883MQP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1653429.60   | 0.15%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00% | METROPOLITAN WASHIN 5.00% | CUSIP: 592647MR9<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   4765000 | PA      | $5320566.60   | 0.48%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH MIAMI COMMUNI 5.00% | NORTH MIAMI COMMUNI 5.00% | CUSIP: 661056AQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1321797.88   | 0.12%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972JTB4<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2936434.05   | 0.27%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974DX52<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4142992.40   | 0.38%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNIC 5.00% | NEW YORK CITY MUNIC 5.00% | CUSIP: 64972GQE7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5144891.00   | 0.47%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK COUNTY COMMUNI 2.00% | COOK COUNTY COMMUNI 2.00% | CUSIP: 213453ML4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $1778589.09   | 0.16%             | 2038-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64971XDK1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1642639.16   | 0.15%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO 5.00% | CITY OF SAN ANTONIO 5.00% | CUSIP: 7962376V2<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   2820000 | PA      | $2939468.17   | 0.27%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY G 5.00% | BLACK BELT ENERGY G 5.00% | CUSIP: 09182TEK9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6479404.20   | 0.59%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPALITY OF ANC 5.50% | MUNICIPALITY OF ANC 5.50% | CUSIP: 033252BG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2010000 | PA      | $2270856.39   | 0.21%             | 2032-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVI 5.00% | GREATER ORLANDO AVI 5.00% | CUSIP: 392275DZ3<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2344845.72   | 0.21%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH VAR | SOUTHEAST ENERGY AUTH VAR | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2159867.60   | 0.20%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.50% | ADAMS COUNTY SCHOOL 5.50% | CUSIP: 005662PG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1700371.05   | 0.15%             | 2040-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS COMMUNITY 5.00% | CLACKAMAS COMMUNITY 5.00% | CUSIP: 179390PF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1638711.04   | 0.15%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974D2K3<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5248087.50   | 0.48%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF HO 5.00% | CITY & COUNTY OF HO 5.00% | CUSIP: 438670W80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4825000 | PA      | $4825000.00   | 0.44%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS PORT 5.00%  | MASSACHUSETTS PORT 5.00%  | CUSIP: 575896UW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3205340.10   | 0.29%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MIDWAY INTL 5.00% | CHICAGO MIDWAY INTL 5.00% | CUSIP: 167562TE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2744650.00   | 0.25%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182TEC7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1621691.40   | 0.15%             | 2055-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES 5.00% | CITY OF LOS ANGELES 5.00% | CUSIP: 544445QX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4420000 | PA      | $4755329.49   | 0.43%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CALIF 5.00% | UNIVERSITY OF CALIF 5.00% | CUSIP: 91412HUC5<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1857469.38   | 0.17%             | 2039-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972JPP7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3815000 | PA      | $3994369.09   | 0.36%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN. AUTHOR 5.25% | INDIANA FIN. AUTHOR 5.25% | CUSIP: 45471GAU3<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1463256.10   | 0.13%             | 2043-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOROUGH OF MATANUSK 5.00% | BOROUGH OF MATANUSK 5.00% | CUSIP: 5765444B3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $762565.51    | 0.07%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO BRIDGE & T 5.25% | COLORADO BRIDGE & T 5.25% | CUSIP: 19633TAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $996229.86    | 0.09%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF COOK IL S 5.00% | COUNTY OF COOK IL S 5.00% | CUSIP: 213248BD8<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5205403.50   | 0.47%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY SCHO 4.00% | FAYETTE COUNTY SCHO 4.00% | CUSIP: 312432H67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4948382.50   | 0.45%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF COOK IL S 5.25% | COUNTY OF COOK IL S 5.25% | CUSIP: 213248BY2<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5185717.50   | 0.47%             | 2035-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 3.25% | NEW YORK STATE DORM 3.25% | CUSIP: 64990EY84<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2884972.20   | 0.26%             | 2036-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576JV0<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5310314.00   | 0.48%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUT 2.351% | PUBLIC FINANCE AUT 2.351% | CUSIP: 74442CEA8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1697629.80   | 0.15%             | 2029-02-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| STATE OF MARYLAND D 3.00% | STATE OF MARYLAND D 3.00% | CUSIP: 574204R70<br>LEI: 254900MKNK0MO0Z4X426 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5025059.50   | 0.46%             | 2031-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WELD COUNTY SCHOOL 4.00%  | WELD COUNTY SCHOOL 4.00%  | CUSIP: 517131GW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1910561.23   | 0.17%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AU 5.00% | ILLINOIS FINANCE AU 5.00% | CUSIP: 45204FGU3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   4150000 | PA      | $4664626.98   | 0.43%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN COUNTY CON 5.00% | FRANKLIN COUNTY CON 5.00% | CUSIP: 353174KM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10600000 | PA      | $12146549.54  | 1.11%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCAGO EDUCATIONAL F 5.00% | SCAGO EDUCATIONAL F 5.00% | CUSIP: 80585GBM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500735.35    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPI 5.00% | PENNSYLVANIA TURNPI 5.00% | CUSIP: 709224K24<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5207451.00   | 0.47%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE ECONOMIC DEVE VAR | ROANOKE ECONOMIC DEVE VAR | CUSIP: 770082CB9<br>LEI: 549300P5QQORJY0U4T83 | Long             | DBT              | MUN               | US        |   4425000 | PA      | $4800894.46   | 0.44%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA 5.00%  | PORT OF SEATTLE WA 5.00%  | CUSIP: 735389V88<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2577120.50   | 0.23%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY 5.00%  | SAN FRANCISCO CITY 5.00%  | CUSIP: 79766DXK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2780474.00   | 0.25%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION GROVE UNION H 4.00% | UNION GROVE UNION H 4.00% | CUSIP: 906727DZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1557737.15   | 0.14%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WHATCOM COUNTY PUBL 5.50% | WHATCOM COUNTY PUBL 5.50% | CUSIP: 962468FU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064110.30   | 0.10%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMSTOCK PARK PUBLI 5.00% | COMSTOCK PARK PUBLI 5.00% | CUSIP: 205759MJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2230000 | PA      | $2316888.16   | 0.21%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY COMMUNI 5.00% | LAKE COUNTY COMMUNI 5.00% | CUSIP: 508516GK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2749494.44   | 0.25%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 5.00% | PORT AUTHORITY OF N 5.00% | CUSIP: 73358WR89<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2097634.00   | 0.19%             | 2028-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUT 4.25% | INDIANA FINANCE AUT 4.25% | CUSIP: 45505MDJ2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4748667.00   | 0.43%             | 2044-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE HOUS 0.75% | NEW YORK STATE HOUS 0.75% | CUSIP: 64987JDS7<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    165000 | PA      | $164538.61    | 0.01%             | 2025-11-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576JR9<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1366007.25   | 0.12%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 4.00% | STATE OF WASHINGTON 4.00% | CUSIP: 93974EVW3<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2568038.00   | 0.23%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEA ELEC. SYSTEM RE 5.00% | JEA ELEC. SYSTEM RE 5.00% | CUSIP: 46613SRZ5<br>LEI: FTZJK89L6NCYPIPKZN93 | Long             | DBT              | MUN               | US        |   2685000 | PA      | $3063384.70   | 0.28%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR | MAIN STREET NATURAL G VAR | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2733018.00   | 0.25%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| WHATCOM COUNTY PUBL 5.50% | WHATCOM COUNTY PUBL 5.50% | CUSIP: 962468FT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $751153.62    | 0.07%             | 2041-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.50% | ADAMS COUNTY SCHOOL 5.50% | CUSIP: 005662PK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3865574.30   | 0.35%             | 2043-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMSTOCK PARK PUBLI 5.00% | COMSTOCK PARK PUBLI 5.00% | CUSIP: 205759MG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1239837.42   | 0.11%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARLSBAD UNIFIED SCHO STP | CARLSBAD UNIFIED SCHO STP | CUSIP: 142665DF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11850000 | PA      | $14222218.32  | 1.30%             | 2035-08-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER COUNTY SC 5.00% | LANCASTER COUNTY SC 5.00% | CUSIP: 514014PD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3760000 | PA      | $3767314.33   | 0.34%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990GP71<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    665000 | PA      | $710534.88    | 0.06%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.00% | NEW YORK TRANSPORTA 5.00% | CUSIP: 650116EL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $603815.25    | 0.06%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHEAST OHIO MEDI 5.00% | NORTHEAST OHIO MEDI 5.00% | CUSIP: 66433RBA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106776.38    | 0.01%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE/JEFFERSO 1.35% | LOUISVILLE/JEFFERSO 1.35% | CUSIP: 546749AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2393473.00   | 0.22%             | 2027-11-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE HOUSIN VAR | NEW YORK STATE HOUSIN VAR | CUSIP: 64987JRC7<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   5820000 | PA      | $5613258.47   | 0.51%             | 2061-11-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| DALLAS COLLEGE 5.00%      | DALLAS COLLEGE 5.00%      | CUSIP: 234685MN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003868.20   | 0.09%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX 5.00%  | CITY OF HOUSTON TX 5.00%  | CUSIP: 44244CGL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2566837.50   | 0.23%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII DEP 5.00% | STATE OF HAWAII DEP 5.00% | CUSIP: 419800NX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2551972.72   | 0.23%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA COUNTY IND 4.00% | OKLAHOMA COUNTY IND 4.00% | CUSIP: 678739WU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3925000 | PA      | $4006665.51   | 0.37%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452153JR1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $3032442.90   | 0.28%             | 2034-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEAVENWORTH COUNTY 5.50%  | LEAVENWORTH COUNTY 5.50%  | CUSIP: 522218ME3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $749503.88    | 0.07%             | 2035-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENERG VAR | KENTUCKY PUBLIC ENERG VAR | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   8130000 | PA      | $8808653.38   | 0.80%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF HAMILTON 5.00%  | COUNTY OF HAMILTON 5.00%  | CUSIP: 407288B99<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   4575000 | PA      | $4985827.68   | 0.45%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972JJJ8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1949417.52   | 0.18%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL 5.25%  | INDIANAPOLIS LOCAL 5.25%  | CUSIP: 45528VFR5<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3158898.00   | 0.29%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 5.00%  | WISCONSIN HEALTH & 5.00%  | CUSIP: 97712JNQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1649162.85   | 0.15%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TST. AUTHOR 5.00% | CAPITAL TST. AUTHOR 5.00% | CUSIP: 14055GAE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1443032.76   | 0.13%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HEALTH & VAR | SOUTH DAKOTA HEALTH & VAR | CUSIP: 83755VW83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2355000 | PA      | $2593359.21   | 0.24%             | 2051-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BATTLE CREEK SCHOOL 5.00% | BATTLE CREEK SCHOOL 5.00% | CUSIP: 071446BH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1560162.30   | 0.14%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CHARLES COUNTY S 0.00% | ST CHARLES COUNTY S 0.00% | CUSIP: 950732YD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2008048.56   | 0.18%             | 2027-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY UNI 5.00% | MARICOPA COUNTY UNI 5.00% | CUSIP: 567505PY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1823109.60   | 0.17%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIERCE COUNTY SCHOO 5.00% | PIERCE COUNTY SCHOO 5.00% | CUSIP: 720611YG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1853315.98   | 0.17%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EAST BATON ROUGE SEWE VAR | EAST BATON ROUGE SEWE VAR | CUSIP: 270618HF1<br>LEI: 5493006BC84VNIRSCG97 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2347890.00   | 0.21%             | 2041-02-01      | Variable      | 1.30%                 | No            |                  2 | On Loan: No      |
| MISSOURI STATE ENVI 5.00% | MISSOURI STATE ENVI 5.00% | CUSIP: 60636UDB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1481826.76   | 0.14%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY IND 4.00% | MARICOPA COUNTY IND 4.00% | CUSIP: 56682HCA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180977.40    | 0.02%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS TOLLWAY 5.00% | NORTH TEXAS TOLLWAY 5.00% | CUSIP: 66285WWB8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5134881.50   | 0.47%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966QXW5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5111222.00   | 0.47%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JDR4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5705000 | PA      | $6166543.63   | 0.56%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE/JEFFERSO 2.00% | LOUISVILLE/JEFFERSO 2.00% | CUSIP: 546749AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5154679.80   | 0.47%             | 2033-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TENNERGY CORP/TN VAR      | TENNERGY CORP/TN VAR      | CUSIP: 880397BW3<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10245963.00  | 0.93%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW YORK M 2.05% | STATE OF NEW YORK M 2.05% | CUSIP: 64988YKG1<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2573815.80   | 0.23%             | 2033-04-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JAX4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5114313.00   | 0.47%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO T 5%  | CITY OF SAN ANTONIO T 5%  | CUSIP: 79625GBM4<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1751017.34   | 0.16%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LITTLE ROCK SCHOOL 2.00%  | LITTLE ROCK SCHOOL 2.00%  | CUSIP: 537428Z23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3445975.20   | 0.31%             | 2034-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULT 5.00% | TARRANT COUNTY CULT 5.00% | CUSIP: 87638QRS0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1128069.90   | 0.10%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORNEY INDEPENDENT 0.00%  | FORNEY INDEPENDENT 0.00%  | CUSIP: 346425JH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $543327.80    | 0.05%             | 2039-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUTH BEND COMMUNIT 4.00% | SOUTH BEND COMMUNIT 4.00% | CUSIP: 836513HZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1379565.83   | 0.13%             | 2026-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLESTON EDUCATIO 5.00% | CHARLESTON EDUCATIO 5.00% | CUSIP: 160131EK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1156585.28   | 0.11%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974DZW1<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2535312.50   | 0.23%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEA VAR | CONNECTICUT STATE HEA VAR | CUSIP: 20775DXK3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3005370.30   | 0.27%             | 2049-07-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALT 5.00% | NEW HAMPSHIRE HEALT 5.00% | CUSIP: 64461XJQ9<br>LEI: 549300CYZCB80R8W7E02 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1399180.55   | 0.13%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEA WATER & SEWER S 5.00% | JEA WATER & SEWER S 5.00% | CUSIP: 46613P3L8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14960000 | PA      | $15653072.86  | 1.43%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO-TAHOE AIRPORT 5.00%  | RENO-TAHOE AIRPORT 5.00%  | CUSIP: 759874BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $922924.65    | 0.08%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI VAR | ILLINOIS FIN. AUTHORI VAR | CUSIP: 45204FM77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1888953.33   | 0.17%             | 2043-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS COUNTY CULTURA VAR | HARRIS COUNTY CULTURA VAR | CUSIP: 414008CZ3<br>LEI: 5493006UKJHZXSM3H989 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2178457.80   | 0.20%             | 2054-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF MICHIGAN 1.00%   | STATE OF MICHIGAN 1.00%   | CUSIP: 5946107G6<br>LEI: CADMV8WVNQO7XM117W54 | Long             | DBT              | MUN               | US        |    635000 | PA      | $633352.68    | 0.06%             | 2025-12-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC 5.50%  | MUNICIPAL ELECTRIC 5.50%  | CUSIP: 626207H31<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500738.75   | 0.23%             | 2060-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64972HK50<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3072885.00   | 0.28%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ENERGY ACQU VAR | TENNESSEE ENERGY ACQU VAR | CUSIP: 880443JE7<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2502713.75   | 0.23%             | 2049-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64971XDQ8<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2156351.61   | 0.20%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990AGS8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3755000 | PA      | $3802766.23   | 0.35%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO COUNTY SCHOOL 5.00% | PASCO COUNTY SCHOOL 5.00% | CUSIP: 702528LK4<br>LEI: 549300NYEDMC7IDJPE68 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5131583.50   | 0.47%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC D 5.00% | KENTUCKY ECONOMIC D 5.00% | CUSIP: 49126PFY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $789757.88    | 0.07%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL. DEV. 4.00%  | ARIZONA INDL. DEV. 4.00%  | CUSIP: 04052BQF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $713483.68    | 0.07%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSPORTATION VAR  | TEXAS TRANSPORTATION VAR  | CUSIP: 882830BJ0<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4926741.50   | 0.45%             | 2041-10-01      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT AUTHORI 2.20% | DEVELOPMENT AUTHORI 2.20% | CUSIP: 121342QC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $567143.27    | 0.05%             | 2032-10-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE COUNTY EC 4.00% | ALBEMARLE COUNTY EC 4.00% | CUSIP: 01266TAQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1905000 | PA      | $1657613.08   | 0.15%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBI 5.00% | DISTRICT OF COLUMBI 5.00% | CUSIP: 25477GUW3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2071010.40   | 0.19%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND COUNTY BOA 5.00% | RICHMOND COUNTY BOA 5.00% | CUSIP: 764581KN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2153722.41   | 0.20%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY PUBLIC ENERG VAR | KENTUCKY PUBLIC ENERG VAR | CUSIP: 74440DEC4<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9862236.90   | 0.90%             | 2054-04-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY E 5.00% | PALM BEACH COUNTY E 5.00% | CUSIP: 696506AV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $622539.19    | 0.06%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI 5%  | ILLINOIS FIN. AUTHORI 5%  | CUSIP: 45204FXK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $308173.29    | 0.03%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OLDHAM COUNTY SCHOO 5.00% | OLDHAM COUNTY SCHOO 5.00% | CUSIP: 680454K87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2170000 | PA      | $2416906.51   | 0.22%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALT 5.00% | NEW HAMPSHIRE HEALT 5.00% | CUSIP: 64461XJM8<br>LEI: 549300CYZCB80R8W7E02 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1165368.57   | 0.11%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS BAY T 5.00% | MASSACHUSETTS BAY T 5.00% | CUSIP: 575579U88<br>LEI: 549300CGDCL8XZK3KN03 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4378953.60   | 0.40%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL BROWN COUNT 5.00% | CENTRAL BROWN COUNT 5.00% | CUSIP: 152708CX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3835769.16   | 0.35%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA PUBLIC POWER 5.00%  | OMAHA PUBLIC POWER 5.00%  | CUSIP: 682001LJ9<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6547497.00   | 0.60%             | 2041-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NORTH CARO 5.00% | STATE OF NORTH CARO 5.00% | CUSIP: 658268FM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1367383.75   | 0.12%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974DXB9<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   2895000 | PA      | $2954607.76   | 0.27%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNIC 5.00% | NEW YORK CITY MUNIC 5.00% | CUSIP: 64972GQT4<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3517214.75   | 0.32%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ARVADA CO S 5.00% | CITY OF ARVADA CO S 5.00% | CUSIP: 043229ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2142529.60   | 0.20%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FAC 4.00% | COLORADO HEALTH FAC 4.00% | CUSIP: 19648FAA2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979207.70    | 0.09%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHEAST OHIO MEDI 4.00% | NORTHEAST OHIO MEDI 4.00% | CUSIP: 66433RBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $299863.23    | 0.03%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTA 5.75% | REGIONAL TRANSPORTA 5.75% | CUSIP: 759911WJ5<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2237335.60   | 0.20%             | 2033-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHO 5.00% | ILLINOIS FIN. AUTHO 5.00% | CUSIP: 45204FYL3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3306626.70   | 0.30%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL. CO 5.00% | SALT VERDE FINL. CO 5.00% | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1609867.50   | 0.15%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990FUQ5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005576.20   | 0.18%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHIN 5.00% | METROPOLITAN WASHIN 5.00% | CUSIP: 592647MN8<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $8224492.50   | 0.75%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEVEL 5.00% | MASSACHUSETTS DEVEL 5.00% | CUSIP: 57584X8L8<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1712639.01   | 0.16%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASSAIC VALLEY SEWE 3.00% | PASSAIC VALLEY SEWE 3.00% | CUSIP: 702826KY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2870000 | PA      | $2887560.38   | 0.26%             | 2027-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CAPITOL IM 5.00% | OKLAHOMA CAPITOL IM 5.00% | CUSIP: 678514EL0<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057802.30   | 0.10%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN. AUTHORI VAR | ILLINOIS FIN. AUTHORI VAR | CUSIP: 45204FQ73<br>LEI: 549300OLHNJ39OUUAH74 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2756267.25   | 0.25%             | 2064-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF PHOENIX CIV 5.00% | CITY OF PHOENIX CIV 5.00% | CUSIP: 71884AV97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $13345522.80  | 1.22%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTH VAR | MICHIGAN FINANCE AUTH VAR | CUSIP: 59447TU68<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1187425.38   | 0.11%             | 2038-10-15      | Variable      | 1.20%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZA 5.00% | DOWNTOWN REVITALIZA 5.00% | CUSIP: 26118TAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1826096.96   | 0.17%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA HOSPITA VAR | WEST VIRGINIA HOSPITA VAR | CUSIP: 956622Z23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $2019624.10   | 0.18%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FA 5.00% | LOUISIANA PUBLIC FA 5.00% | CUSIP: 546399TV8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    795000 | PA      | $835643.74    | 0.08%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 5.00% | COUNTY OF MIAMI-DAD 5.00% | CUSIP: 59333FL99<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   6800000 | PA      | $7150516.88   | 0.65%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FA 5.25% | LOUISIANA PUBLIC FA 5.25% | CUSIP: 546399UL8<br>LEI: 549300SN4RK0THHUAC05 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3648440.95   | 0.33%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEV. FI VAR | MASSACHUSETTS DEV. FI VAR | CUSIP: 57585BKC1<br>LEI: I9TGZUV477HZIKUP0045 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2183138.40   | 0.20%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO HIGHER EDUCATI 5.00% | OHIO HIGHER EDUCATI 5.00% | CUSIP: 67756DSY3<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1415236.10   | 0.13%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYLIE INDEPENDENT SCH VAR | WYLIE INDEPENDENT SCH VAR | CUSIP: 9830685Y9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1693991.25   | 0.15%             | 2041-08-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AU 4.00% | ILLINOIS FINANCE AU 4.00% | CUSIP: 45204E4E5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1940000 | PA      | $2005972.42   | 0.18%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOGANSPORT RENOVATI 5.00% | LOGANSPORT RENOVATI 5.00% | CUSIP: 541244BC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1066990.56   | 0.10%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN HEALTH & 4.00%  | WISCONSIN HEALTH & 4.00%  | CUSIP: 97712DRA6<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2986560.90   | 0.27%             | 2036-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.00% | NEW YORK TRANSPORTA 5.00% | CUSIP: 650116DK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $380165.63    | 0.03%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY FOREST 2.00%  | LAKE COUNTY FOREST 2.00%  | CUSIP: 508354XD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1595195.17   | 0.15%             | 2031-12-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINE 2.375% | MISSISSIPPI BUSINE 2.375% | CUSIP: 605279MK1<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $625760.00    | 0.06%             | 2044-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| GROSSE POINTE PUBLI 3.00% | GROSSE POINTE PUBLI 3.00% | CUSIP: 399100LN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1749396.64   | 0.16%             | 2034-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HOUSIN 5.00% | PENNSYLVANIA HOUSIN 5.00% | CUSIP: 70879QNL3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1845000 | PA      | $2014371.18   | 0.18%             | 2031-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORLANDO UTILITIES COM VAR | ORLANDO UTILITIES COM VAR | CUSIP: 686507JQ8<br>LEI: 549300EJR7JVMRXL5D66 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $909690.10    | 0.08%             | 2046-10-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| PALM BEACH COUNTY S 5.00% | PALM BEACH COUNTY S 5.00% | CUSIP: 696550M58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1480979.89   | 0.13%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR | MAIN STREET NATURAL G VAR | CUSIP: 56035DDH2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5105129.50   | 0.47%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUC 4.00% | CLIFTON HIGHER EDUC 4.00% | CUSIP: 187145NZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $772568.94    | 0.07%             | 2037-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN. AUTHO 5.00% | MICHIGAN FIN. AUTHO 5.00% | CUSIP: 59447T3G6<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   3175000 | PA      | $3288574.20   | 0.30%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182NCB4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5088457.00   | 0.46%             | 2052-07-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TROY CAPITAL RESOUR 5.00% | TROY CAPITAL RESOUR 5.00% | CUSIP: 897579BW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1352736.84   | 0.12%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS TOLLWAY 5.00% | NORTH TEXAS TOLLWAY 5.00% | CUSIP: 66285WM60<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   4860000 | PA      | $4888252.15   | 0.45%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL 4.00%  | ARIZONA INDUSTRIAL 4.00%  | CUSIP: 04052BQE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $300566.70    | 0.03%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966KHM8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5008.88      | 0.00%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GRP. VAR  | PATRIOTS ENERGY GRP. VAR  | CUSIP: 70342PAR5<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10914187.00  | 0.99%             | 2054-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF JEFFERSON 5.00% | COUNTY OF JEFFERSON 5.00% | CUSIP: 472682ZH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1426800.28   | 0.13%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY STATE PROP 5.00% | KENTUCKY STATE PROP 5.00% | CUSIP: 49151F2G4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $2711327.51   | 0.25%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CAPITOL IM 5.00% | OKLAHOMA CAPITOL IM 5.00% | CUSIP: 679088NB6<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1668669.30   | 0.15%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIFORNIA P VAR | SOUTHERN CALIFORNIA P VAR | CUSIP: 842469DL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2816835.26   | 0.26%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AU 5.00% | ILLINOIS FINANCE AU 5.00% | CUSIP: 452017AR7<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1044490.86   | 0.10%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH RIDGEVILLE CI 5.00% | NORTH RIDGEVILLE CI 5.00% | CUSIP: 661870LM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $625568.04    | 0.06%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974D3K2<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $2034269.99   | 0.19%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARISH OF ST JOHN THE VAR | PARISH OF ST JOHN THE VAR | CUSIP: 79020FAY2<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995070.00    | 0.09%             | 2037-06-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HOUSIN 2.20% | PENNSYLVANIA HOUSIN 2.20% | CUSIP: 70879QPW7<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2420000 | PA      | $2112207.46   | 0.19%             | 2033-10-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOV. N 5.00% | METROPOLITAN GOV. N 5.00% | CUSIP: 592029CZ3<br>LEI: LKSXJA6377V8HQNXW856 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051023.50   | 0.10%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RENO-TAHOE AIRPORT 5.00%  | RENO-TAHOE AIRPORT 5.00%  | CUSIP: 759874BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091431.10   | 0.10%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO FIN. AUT 5.00% | NEW MEXICO FIN. AUT 5.00% | CUSIP: 64711PSU5<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064459.20   | 0.10%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANATEE COUNTY SCHO 5.00% | MANATEE COUNTY SCHO 5.00% | CUSIP: 56185NHC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2127358.40   | 0.19%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA CIVIC DEV. 5.25% | ONONDAGA CIVIC DEV. 5.25% | CUSIP: 682832LJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088828.90   | 0.10%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.75% | STATE OF CALIFORNIA 5.75% | CUSIP: 13062TU51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $80193.02     | 0.01%             | 2030-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COUNTY OF KING WA 5.00%   | COUNTY OF KING WA 5.00%   | CUSIP: 49474FPA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1203931.68   | 0.11%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK COUNTY SCHOOL 3.00% | CLARK COUNTY SCHOOL 3.00% | CUSIP: 181059WL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1264466.42   | 0.12%             | 2026-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576FX0<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2006465.20   | 0.18%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF KNOX TN 4.00%   | COUNTY OF KNOX TN 4.00%   | CUSIP: 4995128K0<br>LEI: 549300WT27UFXOLT2D56 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000435.10   | 0.09%             | 2028-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3425000 | PA      | $3579094.52   | 0.33%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHOOL DISTRICT OF 5.00%  | SCHOOL DISTRICT OF 5.00%  | CUSIP: 115065ZN7<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3049492.50   | 0.28%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FAC VAR | CALIFORNIA HEALTH FAC VAR | CUSIP: 13032U4Q8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4456118.40   | 0.41%             | 2050-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.50% | NEW YORK TRANSPORTA 5.50% | CUSIP: 650116JB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2433026.70   | 0.22%             | 2039-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON SUBURBAN 5.00% | WASHINGTON SUBURBAN 5.00% | CUSIP: 940157M23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5047136.50   | 0.46%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KING COUNTY SCHOOL 5.00%  | KING COUNTY SCHOOL 5.00%  | CUSIP: 495033EK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10256325.00  | 0.93%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.25% | CITY OF NEW YORK NY 5.25% | CUSIP: 64966MXC8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2888905.80   | 0.26%             | 2035-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE MUNIC 5.00% | NEW HAMPSHIRE MUNIC 5.00% | CUSIP: 64465QTJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2435983.98   | 0.22%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS STATE TOLL 5.00% | ILLINOIS STATE TOLL 5.00% | CUSIP: 452252LR8<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1743484.19   | 0.16%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK KANE LAKE & MC 4.00% | COOK KANE LAKE & MC 4.00% | CUSIP: 216181GU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5194037.50   | 0.47%             | 2030-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 2.00% | PORT AUTHORITY OF N 2.00% | CUSIP: 73358XCW0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1209674.55   | 0.11%             | 2034-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA COUNTY EDUC 5.00% | VOLUSIA COUNTY EDUC 5.00% | CUSIP: 928836PU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2856395.25   | 0.26%             | 2035-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF COLORADO 4.00%   | STATE OF COLORADO 4.00%   | CUSIP: 196711RL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5054913.50   | 0.46%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHOE COUNTY SCHOO 3.25% | WASHOE COUNTY SCHOO 3.25% | CUSIP: 940859BS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $5510829.35   | 0.50%             | 2042-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE URBA 5.00% | NEW YORK STATE URBA 5.00% | CUSIP: 6500357W2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5199810.00   | 0.47%             | 2037-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA INC VAR              | PEFA INC VAR              | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017573.60   | 0.09%             | 2049-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS A&M UNIVERSIT 4.00% | TEXAS A&M UNIVERSIT 4.00% | CUSIP: 88213AFG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1655000 | PA      | $1667512.46   | 0.15%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990GP89<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    575000 | PA      | $612423.76    | 0.06%             | 2032-10-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON COUNTY SC 4.00% | JEFFERSON COUNTY SC 4.00% | CUSIP: 47309QBH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3935000 | PA      | $3965211.75   | 0.36%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNIC 5.00% | NEW YORK CITY MUNIC 5.00% | CUSIP: 64972GUH5<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3865000 | PA      | $3936320.85   | 0.36%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHSIDE INDEPENDE 5.00% | NORTHSIDE INDEPENDE 5.00% | CUSIP: 66702RXM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1736285.38   | 0.16%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOV 2.50% | LOUISIANA LOCAL GOV 2.50% | CUSIP: 54628CUH3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $6269793.00   | 0.57%             | 2036-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PORT AUTHORITY OF N 2.00% | PORT AUTHORITY OF N 2.00% | CUSIP: 73358XCU4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |  12550000 | PA      | $10805563.81  | 0.98%             | 2032-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LITTLE ROCK SCHOOL 2.25%  | LITTLE ROCK SCHOOL 2.25%  | CUSIP: 537428Z98<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1055106.46   | 0.10%             | 2041-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSI 3.00% | VIRGINIA SMALL BUSI 3.00% | CUSIP: 928104NZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1443248.21   | 0.13%             | 2041-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AU 4.00% | MICHIGAN FINANCE AU 4.00% | CUSIP: 594479HP5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    745000 | PA      | $631567.12    | 0.06%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS VAR | BLACK BELT ENERGY GAS VAR | CUSIP: 09182TAW7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7666698.75   | 0.70%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY HOUSI 2.75% | NEW YORK CITY HOUSI 2.75% | CUSIP: 64972EM97<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2870000 | PA      | $2694974.77   | 0.25%             | 2033-11-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| SOUTH BROWARD HOSPI 4.00% | SOUTH BROWARD HOSPI 4.00% | CUSIP: 836753MF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3711665.20   | 0.34%             | 2044-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.50% | CITY & COUNTY OF DE 5.50% | CUSIP: 249182QL3<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $11268075.00  | 1.03%             | 2035-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTY OF LARAMIE W 4.00% | COUNTY OF LARAMIE W 4.00% | CUSIP: 516706DJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200977.04    | 0.02%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF TEXAS 2.00%      | STATE OF TEXAS 2.00%      | CUSIP: 882724WB9<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $844779.70    | 0.08%             | 2035-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5.00% | STATE OF WASHINGTON 5.00% | CUSIP: 93974ED60<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3054694.80   | 0.28%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANE COUNTY SCHOOL DI 4%  | LANE COUNTY SCHOOL DI 4%  | CUSIP: 515300SW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $484328.57    | 0.04%             | 2035-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMILTON COUNTY PUB 5.00% | HAMILTON COUNTY PUB 5.00% | CUSIP: 40721YCE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3910000 | PA      | $4154420.36   | 0.38%             | 2041-07-10      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUPAGE COUNTY HIGH 5.00%  | DUPAGE COUNTY HIGH 5.00%  | CUSIP: 263309RV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1572159.90   | 0.14%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE COUNTY AIRPOR 5.00% | WAYNE COUNTY AIRPOR 5.00% | CUSIP: 944514SS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9690000 | PA      | $9705127.06   | 0.88%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA LOCAL GOV 5.00% | LOUISIANA LOCAL GOV 5.00% | CUSIP: 54628CAJ1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1561678.00   | 0.14%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOPLIN SCHOOLS 5.00%      | JOPLIN SCHOOLS 5.00%      | CUSIP: 48068TBM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1254584.58   | 0.11%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF HAWAII AIR 5.00% | STATE OF HAWAII AIR 5.00% | CUSIP: 419794A44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5057388.00   | 0.46%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE URBA 5.00% | NEW YORK STATE URBA 5.00% | CUSIP: 6500357Z5<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2572776.75   | 0.23%             | 2040-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN SAVANNAH A 5.00% | DOWNTOWN SAVANNAH A 5.00% | CUSIP: 261172TD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1268655.50   | 0.12%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE C 5.00% | CITY OF SALT LAKE C 5.00% | CUSIP: 795576KB2<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5056900.00   | 0.46%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 4.00% | NEW YORK TRANSPORTA 4.00% | CUSIP: 650116FT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $444496.40    | 0.04%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL G VAR | MAIN STREET NATURAL G VAR | CUSIP: 56035DFC1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5379599.50   | 0.49%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| EL PASO INDEPENDENT S 4%  | EL PASO INDEPENDENT S 4%  | CUSIP: 283770ME2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2630000 | PA      | $2642254.22   | 0.24%             | 2039-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WASHINGTON 5%    | STATE OF WASHINGTON 5%    | CUSIP: 939720WW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018231.60   | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HEALT 5.00% | NEW HAMPSHIRE HEALT 5.00% | CUSIP: 64461XJP1<br>LEI: 549300CYZCB80R8W7E02 | Long             | DBT              | MUN               | US        |    835000 | PA      | $931749.11    | 0.08%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF TALLAHASSEE 5.00% | CITY OF TALLAHASSEE 5.00% | CUSIP: 874461MH6<br>LEI: 549300MPY4HDPK8B1G15 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2744784.75   | 0.25%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF TEXAS 5.00%      | STATE OF TEXAS 5.00%      | CUSIP: 8827242B2<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3434625.53   | 0.31%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF MAS 5.00% | COMMONWEALTH OF MAS 5.00% | CUSIP: 57582TCR1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2097052.20   | 0.19%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY SCHOOL 5.00%  | LAKE COUNTY SCHOOL 5.00%  | CUSIP: 50825JMC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2234682.00   | 0.20%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH FLORIDA WATER 5.00% | SOUTH FLORIDA WATER 5.00% | CUSIP: 83786PCV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4025408.80   | 0.37%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF BROWARD F 5.00% | COUNTY OF BROWARD F 5.00% | CUSIP: 114894XS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1525577.55   | 0.14%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORM 5.00% | NEW YORK STATE DORM 5.00% | CUSIP: 64990GBB7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1487638.68   | 0.14%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 24917DBK8<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2755333.63   | 0.25%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966MA25<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5090881.00   | 0.46%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METRO/OR 5.00%            | METRO/OR 5.00%            | CUSIP: 59165CAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2084604.90   | 0.19%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANAHEIM HOUSING & P 5.00% | ANAHEIM HOUSING & P 5.00% | CUSIP: 032556MT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5069794.50   | 0.46%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIVATE COLLEGES & 5.00%  | PRIVATE COLLEGES & 5.00%  | CUSIP: 74265L3A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3443596.20   | 0.31%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF MARYLAND D 3.00% | STATE OF MARYLAND D 3.00% | CUSIP: 574204R88<br>LEI: 254900MKNK0MO0Z4X426 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4990533.00   | 0.45%             | 2032-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MINNEAPOLIS 5.00% | CITY OF MINNEAPOLIS 5.00% | CUSIP: 603695HZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2049030.80   | 0.19%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH REDEVEL 5.00% | MIAMI BEACH REDEVEL 5.00% | CUSIP: 593237GD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1653470.55   | 0.15%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & BOROUGH OF J 5.00% | CITY & BOROUGH OF J 5.00% | CUSIP: 481718ZP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2294933.00   | 0.21%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LE MARS COMMUNITY S 5.00% | LE MARS COMMUNITY S 5.00% | CUSIP: 521282ER0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $2070862.79   | 0.19%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG VAR | CHARLOTTE-MECKLENBURG VAR | CUSIP: 160853TK3<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4222261.80   | 0.38%             | 2048-01-15      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTA 5.00% | NEW YORK TRANSPORTA 5.00% | CUSIP: 650116FS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $257764.86    | 0.02%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182QH2<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $11127694.00  | 1.01%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO WATER S 5.00% | SAN ANTONIO WATER S 5.00% | CUSIP: 79642B3Z4<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3570473.90   | 0.33%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY E 5.25% | MIAMI-DADE COUNTY E 5.25% | CUSIP: 59333AGP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4050864.80   | 0.37%             | 2026-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PASADENA INDEPENDEN 5.00% | PASADENA INDEPENDEN 5.00% | CUSIP: 702334HQ9<br>LEI: 549300QY114RR4MXVU24 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1293073.00   | 0.12%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CHARLES COUNTY P 5.25% | ST CHARLES COUNTY P 5.25% | CUSIP: 78764YFK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5281632.50   | 0.48%             | 2046-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF MESA AZ UTI 5.00% | CITY OF MESA AZ UTI 5.00% | CUSIP: 5905453M9<br>LEI: 549300L1QYAKFHSIGE94 | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1115032.56   | 0.10%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF GRANT WA 5.25%  | COUNTY OF GRANT WA 5.25%  | CUSIP: 387802GF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1368319.62   | 0.12%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WEST BLOOMFIELD SCH 5.00% | WEST BLOOMFIELD SCH 5.00% | CUSIP: 951452SX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4200000 | PA      | $4477479.72   | 0.41%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF MCCOOK NE 4.50%   | CITY OF MCCOOK NE 4.50%   | CUSIP: 579729EW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2031308.00   | 0.19%             | 2027-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITY OF OMAHA NE 5.00%    | CITY OF OMAHA NE 5.00%    | CUSIP: 681713CL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1328266.25   | 0.12%             | 2043-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY COMMUNI 5.00% | LAKE COUNTY COMMUNI 5.00% | CUSIP: 508516GJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2545000 | PA      | $2635316.96   | 0.24%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLUMBIA COUNTY SCH 5.00% | COLUMBIA COUNTY SCH 5.00% | CUSIP: 19744RCE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1240841.02   | 0.11%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF BLOOMINGTON 5.00% | CITY OF BLOOMINGTON 5.00% | CUSIP: 094713BE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $821186.24    | 0.07%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF WISCONSIN 5.00%  | STATE OF WISCONSIN 5.00%  | CUSIP: 97705MM85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2260200.20   | 0.21%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AUSTIN TX 5.00%   | CITY OF AUSTIN TX 5.00%   | CUSIP: 0523975B8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4462414.00   | 0.41%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA RAILROAD COR 5.50% | ALASKA RAILROAD COR 5.50% | CUSIP: 01176AAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $540673.10    | 0.05%             | 2040-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452153NV7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4440914.40   | 0.40%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON HEALTH C 5.00% | WASHINGTON HEALTH C 5.00% | CUSIP: 93978HC94<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6730206.60   | 0.61%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF ILLINOIS 5.00%   | STATE OF ILLINOIS 5.00%   | CUSIP: 452153NZ8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5329591.50   | 0.49%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.00% | STATE OF CALIFORNIA 5.00% | CUSIP: 13063ENT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2908637.00   | 0.27%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA RAILROAD COR 5.50% | ALASKA RAILROAD COR 5.50% | CUSIP: 01176AAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537241.05    | 0.05%             | 2041-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STATE OF CONNECTICU 5.00% | STATE OF CONNECTICU 5.00% | CUSIP: 20772KF38<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2319131.60   | 0.21%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BON SECOURS MERCY 3.464%  | BON SECOURS MERCY 3.464%  | CUSIP: 09778PAA3<br>LEI: 5493006NA7JSVYYYF398 | Long             | DBT              | CORP              | US        |    500000 | PA      | $484533.89    | 0.04%             | 2030-06-01      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JFS0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2117474.20   | 0.19%             | 2055-11-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSP 5.00% | METROPOLITAN TRANSP 5.00% | CUSIP: 59261A5X1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2323649.92   | 0.21%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY 1.304% | NATURE CONSERVANCY 1.304% | CUSIP: 63902HAL3<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1234189.62   | 0.11%             | 2028-07-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| SEATTLE CHILDREN S 1.208% | SEATTLE CHILDREN S 1.208% | CUSIP: 81257VAA9<br>LEI: 549300WXE9O4DQMMXS47 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4708818.55   | 0.43%             | 2027-10-01      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%  | CITY OF ATLANTA GA 5.00%  | CUSIP: 04780M2P3<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1230432.50   | 0.11%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH I 5.25% | DALLAS FORT WORTH I 5.25% | CUSIP: 23503CGA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2177947.40   | 0.20%             | 2039-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF ED 5.75% | CHICAGO BOARD OF ED 5.75% | CUSIP: 167505ZM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1964450.80   | 0.18%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEV. BO 5.00% | TEXAS WATER DEV. BO 5.00% | CUSIP: 88285AJN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2322179.80   | 0.21%             | 2035-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF CALIFORNIA 5.00% | STATE OF CALIFORNIA 5.00% | CUSIP: 13063ENU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2339802.60   | 0.21%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64971XFU7<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065509.20   | 0.19%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY & COUNTY OF DE 5.00% | CITY & COUNTY OF DE 5.00% | CUSIP: 249182LV6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4531302.90   | 0.41%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF NEW YORK M 2.60% | STATE OF NEW YORK M 2.60% | CUSIP: 64988YCA3<br>LEI: 549300ZQWNLLIG564027 | Long             | DBT              | MUN               | US        |   3300000 | PA      | $2800141.74   | 0.26%             | 2039-10-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| LAKE COUNTY COMMUNI 4.00% | LAKE COUNTY COMMUNI 4.00% | CUSIP: 508570FV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044670.10   | 0.10%             | 2031-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF AKRON OH IN 4.00% | CITY OF AKRON OH IN 4.00% | CUSIP: 010056MT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1333283.23   | 0.12%             | 2032-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY VAR  | CALIFORNIA COMMUNITY VAR  | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   4525000 | PA      | $4637958.93   | 0.42%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ALBUQUERQUE BERNALI 4.00% | ALBUQUERQUE BERNALI 4.00% | CUSIP: 013493KN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1359429.11   | 0.12%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH TEXAS TOLLWAY 5.00% | NORTH TEXAS TOLLWAY 5.00% | CUSIP: 66285WWA0<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3089654.10   | 0.28%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DAD 4.00% | COUNTY OF MIAMI-DAD 4.00% | CUSIP: 59334DJL9<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2463595.00   | 0.22%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.25% | ADAMS COUNTY SCHOOL 5.25% | CUSIP: 005626TB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4775000 | PA      | $4834741.94   | 0.44%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FA 5.00% | LOUISIANA PUBLIC FA 5.00% | CUSIP: 546399DV5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2925000 | PA      | $2928632.56   | 0.27%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL 4.00%  | ARIZONA INDUSTRIAL 4.00%  | CUSIP: 04052FCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $867639.60    | 0.08%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADAMS COUNTY SCHOOL 5.25% | ADAMS COUNTY SCHOOL 5.25% | CUSIP: 005626SY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $231903.50    | 0.02%             | 2040-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF CARROLL K 2.00% | COUNTY OF CARROLL K 2.00% | CUSIP: 14483RAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $4627819.88   | 0.42%             | 2032-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ATLANTA GA 5.00%  | CITY OF ATLANTA GA 5.00%  | CUSIP: 04780TDD3<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5248580.00   | 0.48%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CONNE 5.25% | UNIVERSITY OF CONNE 5.25% | CUSIP: 914225HH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8221107.20   | 0.75%             | 2047-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF NEW YORK NY 5.00% | CITY OF NEW YORK NY 5.00% | CUSIP: 64966QAV2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10397872.00  | 0.95%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANS 5.00% | NEW YORK CITY TRANS 5.00% | CUSIP: 64971XX78<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2608964.25   | 0.24%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SEATTLE WA 4.00%  | CITY OF SEATTLE WA 4.00%  | CUSIP: 812702EU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1865000 | PA      | $1878935.47   | 0.17%             | 2031-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOLT PUBLIC SCHOOLS 3.00% | HOLT PUBLIC SCHOOLS 3.00% | CUSIP: 436542RT3<br>LEI: 5493003S1N4V7MU43M43 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1124719.52   | 0.10%             | 2034-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ANAHEIM HOUSING & P 5.00% | ANAHEIM HOUSING & P 5.00% | CUSIP: 032556MH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1308412.50   | 0.12%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC D 5.00% | KENTUCKY ECONOMIC D 5.00% | CUSIP: 49126PGA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $782568.38    | 0.07%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer