# EDGAR Filing Document

**Accession Number:** 0001170299
**File Stem:** 0001099263-26-007293
**Filing Date:** 2026-5
**Character Count:** 250700
**Document Hash:** d8e254d7ba7871d5a70b19a3682e1563
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-007293.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001099263-26-007293

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO MUNICIPAL INCOME FUND II
- **CENTRAL INDEX KEY:** 0001170299

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21076
- **FILM NUMBER:** 261043599

**BUSINESS ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-739-4000

**MAIL ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Nport-Ex

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** | **(AMOUNTS IN THOUSANDS\*, EXCEPT NUMBER OF SHARES, CONTRACTS, UNITS AND OUNCES, IF ANY)** |
|  | PRINCIPAL<br>AMOUNT<br>(000s) | MARKET<br>VALUE<br>(000s) |
| **INVESTMENTS IN SECURITIES 171.1% ¤** |  |  |
| **LOAN PARTICIPATIONS AND ASSIGNMENTS 14.2%**  |  |  |
| **136 River Apartments**  |  |  |
| TBD% - 5.940% due 09/01/2028 «~µ | $8563 | $8560 |
| TBD% due 09/01/2043 «~µ | 3183 | 3183 |
| **3412 Victoria**<br>TBD% due 04/01/2044 «~µ | 1848 | 1848 |
| **3981 Meier St. Los Angeles**<br>TBD% due 04/01/2044 «~µ | 2185 | 2185 |
| **4345 Matilja**<br>TBD% due 04/01/2044 «~µ | 2594 | 2594 |
| **5625 Case**<br>TBD% due 04/01/2044 «~µ | 2746 | 2746 |
| **8911 Ramsgate**<br>TBD% due 04/01/2044 «~µ | 2762 | 2762 |
| **AM Bidco Operations LLC**<br>TBD% - 8.500% (TSFR3M + 0.000%) due 10/21/2027 «~µ(f) | 6169 | 5109 |
| **Ammons AT Asheville Highway**<br>4.200% due 10/01/2041 «~(f) | 10049 | 8915 |
| **Bellwood Senior Housing**<br>4.280% due 10/01/2040 «~(f) | 2838 | 2567 |
| **California Housing Finance Agency**  |  |  |
| TBD% due 04/01/2044 «~µ | 2331 | 2331 |
| TBD% - 5.840% due 04/01/2028 «~µ | 24665 | 24625 |
| **Fairhaven Glen**  |  |  |
| TBD% due 12/12/2041 «~µ | 500 | 500 |
| TBD% - 6.024% due 01/01/2067 «~ | 9400 | 9374 |
| TBD% - 9.710% due 11/01/2027 «~µ | 7400 | 7385 |
| **Falcon PK**  |  |  |
| TBD% due 11/01/2026 «~µ | 2200 | 2200 |
| TBD% - 6.024% due 10/26/2063 «~µ | 11100 | 11416 |
| **Laurel Wood Apartments**<br>TBD% - 6.500% due 01/01/2043 «~µ | 9395 | 9402 |
| **Maple Oaks**  |  |  |
| TBD% due 06/01/2027 «~µ | 3170 | 3169 |
| 6.200% due 12/01/2042 «~ | 5852 | 5802 |
| **Portland Place Capital Ltd.**<br>7.250% due 10/31/2026 «~ | 14335 | 14319 |
| **Touro Shakespeare**  |  |  |
| TBD% due 01/01/2044 «~µ | 735 | 735 |
| TBD% - 6.500% due 06/01/2028 «~µ | 5880 | 5868 |
| **West Branch & River Road**<br>7.057% due 01/01/2043 «~ | 4397 | 4296 |
| Total Loan Participations and Assignments (Cost $141,890) |  | 141891 |
| **MUNICIPAL BONDS & NOTES 152.0%**  |  |  |
| **ALABAMA 4.3%**  |  |  |
| **Baldwin County, Alabama Industrial Development Authority Revenue Bonds, Series 2025**  |  |  |
| 4.625% due 06/01/2055  | 1100 | 1101 |
| 5.000% due 06/01/2055  | 3800 | 3856 |
| **Black Belt Energy Gas District, Alabama Revenue Notes, Series 2025** <br>5.000% due 10/01/2035 | 10000 | 10425 |
| **Huntsville Public Building Authority, Alabama Revenue Bonds, Series 2022** <br>5.000% due 02/01/2047 | 1000 | 1030 |
| **Irondale Public Building Authority, Alabama Revenue Bonds, Series 2024** <br>4.000% due 10/01/2049 | 6215 | 5509 |
| **Jefferson County, Alabama Sewer Revenue Bonds, Series 2024** <br>5.250% due 10/01/2049 | 10000 | 10354 |
| **Mobile County, Alabama Industrial Development Authority Revenue Bonds, Series 2024** <br>5.000% due 06/01/2054 | 4490 | 4281 |
| **Southeast Energy Authority A Cooperative District, Alabama Revenue Bonds, Series 2025** <br>5.000% due 01/01/2056 | 5800 | 5837 |
|  |  | 42393 |
| **ALASKA 0.7%**  |  |  |
| **Municipality of Anchorage, Alaska Solid Waste Services Revenue Bonds, Series 2022** <br>5.250% due 11/01/2062 | 4695 | 4746 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Northern Tobacco Securitization Corp., Alaska Revenue Bonds, Series 2021** <br>0.000% due 06/01/2066 (c) | 19400 | 2086 |
|  |  | 6832 |
| **ARIZONA 8.9%**  |  |  |
| **Arizona Industrial Development Authority Revenue Bonds, Series 2020** <br>7.750% due 07/01/2050 ^(a) | 4800 | 113 |
| **Arizona Industrial Development Authority Revenue Bonds, Series 2025**  |  |  |
| 5.000% due 01/01/2059 (d)  | 6557 | 3401 |
| 5.125% due 01/01/2059  | 3479 | 2905 |
| **Industrial Development Authority of the County, Arizona of Pima Revenue Bonds, Series 2020** <br>5.000% due 07/01/2055 ^(a) | 4700 | 3760 |
| **Maricopa County, Arizona Industrial Development Authority Revenue Bonds, Series 2017** <br>4.000% due 01/01/2041 | 3000 | 2873 |
| **Maricopa County, Arizona Industrial Development Authority Revenue Bonds, Series 2019** <br>4.000% due 01/01/2044 | 21865 | 20214 |
| **Maricopa County, Arizona School District No 83, Cartwright Elementary Revenue Bonds, Series 2020** <br>4.000% due 10/01/2044 | 16320 | 13960 |
| **Salt Verde Financial Corp. Arizona Revenue Bonds, Series 2007**  |  |  |
| 5.000% due 12/01/2032  | 4930 | 5248 |
| 5.000% due 12/01/2037  | 34000 | 35909 |
|  |  | 88383 |
| **ARKANSAS 0.9%**  |  |  |
| **Arkansas Development Finance Authority Revenue Bonds, (AMBAC Insured), Series 2006** <br>0.000% due 07/01/2036 (c) | 5500 | 3543 |
| **Arkansas Development Finance Authority Revenue Bonds, Series 2022** <br>5.450% due 09/01/2052 | 350 | 353 |
| **Arkansas Development Finance Authority Revenue Bonds, Series 2023** <br>7.375% due 07/01/2048 | 5000 | 5411 |
|  |  | 9307 |
| **CALIFORNIA 3.3%**  |  |  |
| **California Community Choice Financing Authority Revenue Bonds, Series 2024** <br>5.000% due 12/01/2032 (e) | 11400 | 11646 |
| **California Community Choice Financing Authority Revenue Bonds, Series 2025** <br>5.000% due 10/01/2055 | 2600 | 2626 |
| **California County Tobacco Securitization Agency Revenue Bonds, Series 2002** <br>6.000% due 06/01/2035 | 255 | 255 |
| **California Housing Finance Revenue Bonds, Series 2024** <br>6.000% due 03/01/2053 | 9700 | 9805 |
| **Folsom Cordova Unified School District, California General Obligation Bonds, (AGM Insured), Series 2019** <br>4.000% due 10/01/2044 | 1810 | 1746 |
| **Golden State, California Tobacco Securitization Corp. Revenue Bonds, Series 2021** <br>0.000% due 06/01/2066 (c) | 12500 | 1253 |
| **M-S-R Energy Authority, California Revenue Bonds, Series 2009**  |  |  |
| 6.125% due 11/01/2029  | 1310 | 1374 |
| 6.500% due 11/01/2039  | 3750 | 4449 |
|  |  | 33154 |
| **COLORADO 6.4%**  |  |  |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2019**  |  |  |
| 4.000% due 01/01/2040  | 10000 | 9705 |
| 4.000% due 11/15/2043  | 14910 | 14119 |
| 4.000% due 08/01/2049  | 8000 | 6901 |
| 5.000% due 08/01/2044  | 6015 | 6112 |
| **Colorado Health Facilities Authority Revenue Bonds, Series 2025** <br>5.125% due 12/01/2055 | 3500 | 3399 |
| **Colorado International Center Metropolitan District No 7, General Obligation Bonds, Series 2021** <br>5.250% due 12/01/2051 (d) | 3945 | 3203 |
| **Crowfoot Valley Ranch Metropolitan District No 2, Colorado General Obligation Bonds, (BAM Insured), Series 2024**  |  |  |
| 4.250% due 12/01/2049  | 2000 | 1803 |
| 4.375% due 12/01/2054  | 2000 | 1786 |
| **Dominion Water & Sanitation District, Colorado Revenue Bonds, Series 2022** <br>5.875% due 12/01/2052 | 4723 | 4825 |
| **Harvest Crossing Metropolitan District No 4, Colorado General Obligation Bonds, Series 2022** <br>7.250% due 12/01/2052 | 6000 | 5965 |
| **Public Authority for Colorado Energy Revenue Bonds, Series 2008** <br>6.500% due 11/15/2038 | 2430 | 2877 |
| **Senac South Metropolitan District No 1, Colorado General Obligation Bonds, Series 2021** <br>5.250% due 12/01/2051 | 2050 | 1933 |
| **Third Creek Metropolitan District No 1, Colorado General Obligation Bonds, Series 2022** <br>4.750% due 12/01/2051 | 1275 | 991 |
|  |  | 63619 |
| **CONNECTICUT 2.1%**  |  |  |
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2017** <br>2.550% due 07/01/2057 | 15355 | 15355 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Connecticut State Health & Educational Facilities Authority Revenue Bonds, Series 2022** <br>5.000% due 07/01/2047 | 5680 | 5791 |
|  |  | 21146 |
| **DISTRICT OF COLUMBIA 0.8%**  |  |  |
| **District of Columbia Revenue Bonds, Series 2022**  |  |  |
| 5.500% due 02/29/2036  | 1625 | 1841 |
| 5.500% due 08/31/2036  | 1800 | 2050 |
| 5.500% due 02/28/2037  | 1850 | 2104 |
| **Metropolitan Washington Airports Authority Aviation, District of Columbia Revenue Bonds, Series 2024** <br>5.000% due 10/01/2040 | 1750 | 1854 |
|  |  | 7849 |
| **FLORIDA 7.2%**  |  |  |
| **Babcock Ranch Community Independent Special District, Florida Special Assessment Bonds, Series 2022** <br>5.000% due 05/01/2042 | 1230 | 1233 |
| **Central Florida Expressway Authority Revenue Bonds, Series 2017** <br>4.000% due 07/01/2041 | 6240 | 6055 |
| **Charlotte County Industrial Development Authority, Florida Revenue Bonds, Series 2021** <br>4.000% due 10/01/2051 | 6000 | 4781 |
| **Florida Development Finance Corp. Revenue Bonds, (AGM Insured), Series 2024**  |  |  |
| 5.000% due 07/01/2044  | 1200 | 1168 |
| 5.250% due 07/01/2047  | 5295 | 5203 |
| **Hillsborough County, Florida Industrial Development Authority Revenue Bonds, Series 2020** <br>4.000% due 08/01/2050 | 7150 | 6045 |
| **Kissimmee, Florida Revenue Bonds, Series 2024** <br>4.000% due 10/01/2049 | 2125 | 1903 |
| **Lakes of Sarasota Community Development District, Florida Revenue Bonds, Series 2018** <br>5.000% due 07/01/2041 | 10000 | 10185 |
| **Miami-Dade County, Florida Aviation Revenue Notes, Series 2024** <br>5.000% due 10/01/2034 | 600 | 665 |
| **Miami-Dade County, Florida Housing Finance Authority Revenue Bonds, (FNMA Insured), Series 2025** <br>4.880% due 03/01/2046 | 2500 | 2489 |
| **Miami-Dade County, Florida Transit System Revenue Bonds, Series 2018**  |  |  |
| 4.000% due 07/01/2044  | 1000 | 975 |
| 4.000% due 07/01/2046  | 1000 | 932 |
| **Miami-Dade County, Florida Water & Sewer System Revenue Bonds, Series 2019** <br>4.000% due 10/01/2048 | 5000 | 4543 |
| **Miami-Dade Seaport Department, Florida Revenue Bonds, Series 2023** <br>5.000% due 10/01/2047 | 7250 | 7333 |
| **Orlando Utilities Commission** <br>5.000% due 10/01/2051 (e) | 15000 | 15478 |
| **South Miami Health Facilities Authority, Florida Revenue Bonds, Series 2017** <br>4.000% due 08/15/2047 | $3750 | 3280 |
|  |  | 72268 |
| **GEORGIA 6.7%**  |  |  |
| **Atlanta Development Authority, Georgia Revenue Bonds, Series 2015** <br>5.000% due 07/01/2044 | 3895 | 3897 |
| **Atlanta Development Authority, Georgia Revenue Bonds, Series 2017** <br>6.750% due 01/01/2035 ^(a) | 7100 | 3195 |
| **Fayette County, Georgia Hospital Authority Revenue Bonds, Series 2016** <br>5.000% due 07/01/2046 | 10000 | 10012 |
| **Gainesville & Hall County, Georgia Hospital Authority Revenue Bonds, Series 2021** <br>4.000% due 02/15/2051 | 3800 | 3293 |
| **Main Street Natural Gas, Inc., Georgia Revenue Bonds, Series 2024** <br>5.000% due 05/01/2055 | 5000 | 5248 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2015** <br>5.000% due 07/01/2060 | 35680 | 34967 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2019**  |  |  |
| 5.000% due 01/01/2037  | 850 | 868 |
| 5.000% due 01/01/2038  | 1500 | 1529 |
| 5.000% due 01/01/2049  | 2000 | 1999 |
| **Municipal Electric Authority of Georgia Revenue Bonds, Series 2022** <br>5.000% due 07/01/2052 | 2000 | 2021 |
|  |  | 67029 |
| **ILLINOIS 11.1%**  |  |  |
| **Chicago Board of Education, Illinois General Obligation Bonds, Series 2017** <br>5.000% due 12/01/2036 | 3770 | 3640 |
| **Chicago Board of Education, Illinois General Obligation Bonds, Series 2018** <br>5.000% due 12/01/2046 | 11000 | 10058 |
| **Chicago Board of Education, Illinois General Obligation Bonds, Series 2025** <br>5.750% due 12/01/2050 | 3800 | 3803 |
| **Chicago O'Hare International Airport, Illinois Revenue Bonds, (AGM Insured), Series 2020** <br>4.000% due 01/01/2039 | 3000 | 3015 |
| **Chicago O'Hare International Airport, Illinois Revenue Bonds, Series 2017** <br>5.000% due 01/01/2047 | 5000 | 5001 |
| **Chicago O'Hare International Airport, Illinois Revenue Bonds, Series 2024** <br>5.250% due 01/01/2048 | 9530 | 9687 |
| **Cook County, Illinois School District No 28 General Obligation Bonds, Series 2025** <br>5.000% due 12/01/2050 | 2585 | 2607 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Illinois Finance Authority Revenue Bonds, Series 2017** <br>5.000% due 02/15/2037 ^(a) | 3683 | 110 |
| **Illinois Finance Authority Revenue Bonds, Series 2018** <br>5.000% due 05/15/2043 | 12000 | 12222 |
| **Illinois Finance Authority Revenue Bonds, Series 2026** <br>6.500% due 03/01/2055 | 4090 | 3635 |
| **Illinois Finance Authority Revenue Notes, Series 2024** <br>5.000% due 11/15/2034 | 4500 | 4919 |
| **Illinois State General Obligation Bonds, Series 2018**  |  |  |
| 4.625% due 05/01/2037  | 6175 | 6213 |
| 5.000% due 05/01/2041  | 3000 | 3040 |
| **Illinois State General Obligation Bonds, Series 2024** <br>5.250% due 05/01/2048 | 3750 | 3830 |
| **Illinois State General Obligation Bonds, Series 2025** <br>5.000% due 09/01/2042 | 2400 | 2502 |
| **Illinois State Toll Highway Authority Revenue Bonds, Series 2016** <br>5.000% due 01/01/2041 | 12500 | 12537 |
| **Metropolitan Pier & Exposition Authority, Illinois Revenue Bonds, Series 2012** <br>0.000% due 12/15/2051 (c) | 10000 | 2733 |
| **Metropolitan Pier & Exposition Authority, Illinois Revenue Bonds, Series 2022**  |  |  |
| 0.000% due 06/15/2036 (c)  | 1000 | 663 |
| 0.000% due 12/15/2036 (c)  | 1750 | 1131 |
| 0.000% due 06/15/2037 (c)  | 1000 | 629 |
| **Regional Transportation Authority, Illinois Revenue Bonds, Series 2018** <br>5.000% due 06/01/2038 | 15400 | 15944 |
| **Sales Tax Securitization Corp. Illinois Revenue Bonds, Series 2018** <br>4.000% due 01/01/2048 | 2750 | 2371 |
|  |  | 110290 |
| **INDIANA 2.7%**  |  |  |
| **Indiana Finance Authority Revenue Bonds, Series 2012** <br>4.250% due 11/01/2030 | 5650 | 5798 |
| **Indiana Finance Authority Revenue Bonds, Series 2019** <br>7.000% due 03/01/2039 ^(a) | 6115 | 306 |
| **Indiana Finance Authority Revenue Bonds, Series 2025** <br>5.000% due 10/01/2057 | 9500 | 10532 |
| **Indiana Health & Educational Facilities Financing Authority Revenue Bonds, Series 2006** <br>4.000% due 11/15/2046 | 2000 | 1824 |
| **Indiana Housing & Community Development Authority Revenue Bonds, Series 2016** <br>6.250% due 07/01/2056 | 2080 | 1983 |
| **Indianapolis Local Public Improvement Bond Bank, Indiana Revenue Bonds, Series 2023** <br>6.000% due 03/01/2053 | 4500 | 4633 |
| **Indianapolis, Indiana Revenue Bonds, Series 2016** <br>6.250% due 07/01/2056 | 2080 | 1989 |
|  |  | 27065 |
| **IOWA 2.7%**  |  |  |
| **Iowa Finance Authority Midwestern Disaster Area Revenue Refunding Bonds, Series 2022** <br>5.000% due 12/01/2050 | 21200 | 23893 |
| **Iowa Finance Authority Revenue Bonds, Series 2022** <br>8.000% due 01/01/2042 | 3575 | 3020 |
|  |  | 26913 |
| **KANSAS 0.0%**  |  |  |
| **Lenexa, Kansas Tax Allocation Bonds, Series 2007** <br>6.000% due 04/01/2027 ^(a) | 639 | 57 |
| **KENTUCKY 1.1%**  |  |  |
| **Kentucky Economic Development Finance Authority Revenue Bonds, Series 2019** <br>5.000% due 08/01/2049 | 1220 | 1220 |
| **Kentucky Public Energy Authority Revenue Notes, Series 2025** <br>5.000% due 05/01/2036 | 7000 | 7373 |
| **Warren County, Kentucky Revenue Bonds, Series 2024** <br>5.250% due 04/01/2049 | 2500 | 2584 |
|  |  | 11177 |
| **LOUISIANA 4.2%**  |  |  |
| **Louisiana Gasoline & Fuels Tax State Revenue Bonds, Series 2017** <br>4.000% due 05/01/2045 | 15000 | 14151 |
| **Louisiana Public Facilities Authority Revenue Bonds, (AGM Insured), Series 2025**  |  |  |
| 5.000% due 07/01/2041  | 1100 | 1185 |
| 5.000% due 07/01/2042  | 1100 | 1178 |
| 5.000% due 07/01/2043  | 1000 | 1064 |
| 5.000% due 07/01/2044  | 750 | 793 |
| 5.000% due 07/01/2045  | 375 | 393 |
| **Louisiana Public Facilities Authority Revenue Bonds, Series 2017**  |  |  |
| 5.000% due 05/15/2042  | 7750 | 7801 |
| 5.000% due 05/15/2046  | 5000 | 5010 |
| **Parish of St James, Louisiana Revenue Bonds, Series 2010**  |  |  |
| 6.350% due 07/01/2040  | 2600 | 2813 |
| 6.350% due 10/01/2040  | 2800 | 3030 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Port New Orleans Board of Commissioners, Louisiana Revenue Bonds, Series 2020** <br>5.000% due 04/01/2047 | 4290 | 4300 |
|  |  | 41718 |
| **MAINE 0.2%**  |  |  |
| **Maine Health & Higher Educational Facilities Authority Revenue Bonds, Series 2020** <br>4.000% due 07/01/2045 | 2000 | 1846 |
| **MARYLAND 0.2%**  |  |  |
| **Maryland Economic Development Corp. Revenue Bonds, Series 2020**  |  |  |
| 4.000% due 07/01/2040  | 1000 | 933 |
| 4.250% due 07/01/2050  | 1400 | 1208 |
|  |  | 2141 |
| **MASSACHUSETTS 0.7%**  |  |  |
| **Commonwealth of Massachusetts General Obligation Bonds, Series 2018** <br>4.000% due 05/01/2040 | 2000 | 2003 |
| **Massachusetts Development Finance Agency Revenue Bonds, Series 2010** <br>7.625% due 10/15/2037 ^(a) | 673 | 0 |
| **Massachusetts Development Finance Agency Revenue Bonds, Series 2016** <br>5.000% due 01/01/2047 | 4500 | 4354 |
| **Massachusetts Housing Finance Agency Revenue Bonds, Series 2003** <br>5.125% due 06/01/2043 | 525 | 525 |
|  |  | 6882 |
| **MICHIGAN 2.9%**  |  |  |
| **Gerald R Ford International Airport Authority, Michigan Revenue Bonds, (CNTY Insured), Series 2021** <br>5.000% due 01/01/2051 | 2500 | 2512 |
| **Michigan Finance Authority Revenue Bonds, Series 2017** <br>5.000% due 12/01/2046 | 9700 | 9767 |
| **Michigan Finance Authority Revenue Bonds, Series 2019** <br>4.000% due 02/15/2050 | 7500 | 6384 |
| **Michigan Finance Authority Revenue Bonds, Series 2020**  |  |  |
| 4.800% due 09/01/2040  | 185 | 150 |
| 5.000% due 09/01/2050  | 300 | 219 |
| **Michigan Finance Authority Revenue Notes, Series 2020** <br>4.300% due 09/01/2030 | 100 | 93 |
| **Michigan State Housing Development Authority Revenue Bonds, Series 2015** <br>4.350% due 10/01/2045 | 3840 | 3840 |
| **Michigan Tobacco Settlement Finance Authority Revenue Bonds, Series 2008** <br>0.000% due 06/01/2058 (c) | 52500 | 1155 |
| **Michigan Trunk Line State Revenue Bonds, Series 2021** <br>4.000% due 11/15/2044 | 5000 | 4865 |
|  |  | 28985 |
| **MINNESOTA 1.2%**  |  |  |
| **Housing & Redevelopment Authority of The City of St Paul Minnesota Revenue Bonds, Series 2017** <br>5.000% due 11/15/2047 | 1590 | 1545 |
| **Rochester, Minnesota Revenue Bonds, Series 2025** <br>2.300% due 11/15/2064 | 5975 | 5975 |
| **St Cloud, Minnesota Revenue Bonds, Series 2024** <br>5.000% due 05/01/2054 | 4000 | 4022 |
|  |  | 11542 |
| **MISSISSIPPI 0.4%**  |  |  |
| **Mississippi Development Bank Revenue Bonds, Series 2025** <br>5.000% due 06/01/2050 | 3750 | 3836 |
| **MISSOURI 2.1%**  |  |  |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Bonds, Series 2018** <br>4.000% due 11/15/2048 | 3000 | 2676 |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Bonds, Series 2019**  |  |  |
| 4.000% due 02/15/2037  | 510 | 511 |
| 4.000% due 02/15/2039  | 600 | 585 |
| **Health & Educational Facilities Authority of the State of Missouri Revenue Bonds, Series 2023** <br>5.500% due 12/01/2048 | 5100 | 5404 |
| **Jefferson County Industrial Development Authority, Missouri Revenue Bonds, (FNMA Insured), Series 2024** <br>4.450% due 02/01/2043 | 7710 | 7591 |
| **Missouri Development Finance Board Revenue Bonds, Series 2022** <br>5.250% due 05/01/2055 | 4000 | 4107 |
|  |  | 20874 |
| **MONTANA 0.3%**  |  |  |
| **Montana Facility Finance Authority Revenue Bonds, Series 2025** <br>5.500% due 02/15/2055 | 2650 | 2758 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **MULTI-STATE 3.4%**  |  |  |
| **FHLMC Multifamily VRD Certificates, Revenue Bonds, Series 2025**  |  |  |
| 4.534% due 11/25/2042  | 10423 | 10665 |
| 4.869% due 01/25/2043  | 5666 | 5903 |
| **Freddie Mac Multifamily ML Certificates, Revenue Bonds, Series 2023** <br>4.140% due 01/25/2040 | 5831 | 5783 |
| **Freddie Mac Multifamily ML Certificates, Revenue Bonds, Series 2024** <br>4.291% due 04/25/2042 ~ | 11112 | 11653 |
|  |  | 34004 |
| **NEVADA 0.5%**  |  |  |
| **Reno, Nevada Revenue Bonds, Series 2018** <br>0.000% due 07/01/2058 (c) | 45500 | 5274 |
| **NEW HAMPSHIRE 2.6%**  |  |  |
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2023** <br>4.837% due 07/20/2036 | 10597 | 10635 |
| **New Hampshire Business Finance Authority Revenue Bonds, Series 2025**  |  |  |
| 3.824% due 11/20/2042  | 4273 | 4106 |
| 3.922% due 01/20/2041 ~  | 2576 | 2496 |
| 4.794% due 02/20/2041  | 3690 | 3780 |
| **New Hampshire Health and Education Facilities Authority Act Revenue Bonds, Series 2025** <br>5.000% due 08/01/2055 | 5000 | 5010 |
|  |  | 26027 |
| **NEW JERSEY 1.8%**  |  |  |
| **Federal Home Loan Mortgage Corp. Enhanced Receipt, New Jersey Revenue Bonds, Series 2019** <br>3.870% due 11/15/2035 (f) | 143 | 129 |
| **New Jersey Economic Development Authority Special Assessment Bonds, Series 2002** <br>5.750% due 04/01/2031 | 2050 | 2057 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2018** <br>5.000% due 12/15/2036 | 1500 | 1561 |
| **New Jersey Transportation Trust Fund Authority Revenue Bonds, Series 2019** <br>5.250% due 06/15/2043 | 5000 | 5167 |
| **Passaic County, New Jersey Improvement Authority Revenue Bonds, Series 2025** <br>4.500% due 07/01/2040 | 1000 | 987 |
| **Tobacco Settlement Financing Corp. New Jersey Revenue Bonds, Series 2018**  |  |  |
| 5.000% due 06/01/2031  | 2200 | 2279 |
| 5.000% due 06/01/2046  | 6315 | 6150 |
|  |  | 18330 |
| **NEW YORK 19.8%**  |  |  |
| **Build NYC Resource Corp. New York Revenue Bonds, Series 2023** <br>5.250% due 07/01/2057 | 4000 | 3956 |
| **Erie County, New York Industrial Development Agency Revenue Bonds, (FNMA Insured), Series 2023** <br>4.250% due 02/01/2041 | 4800 | 4696 |
| **Metropolitan Transportation Authority, New York Revenue Bonds, Series 2020** <br>5.250% due 11/15/2055 | 2000 | 2027 |
| **Nassau County, New York General Obligation Bonds, Series 2021** <br>5.000% due 01/01/2058 « | 4402 | 62 |
| **New York City Transitional Finance Authority Future Tax Secured** <br>5.000% due 02/01/2047 (e) | 9420 | 9800 |
| **New York City Transitional Finance Authority Future Tax Secured, New York Revenue Bonds, Series 2015** <br>2.700% due 02/01/2045 | $1000 | 1000 |
| **New York City, New York General Obligation Bonds, Series 2018** <br>5.000% due 04/01/2045 | 2300 | 2339 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2019** <br>4.000% due 05/01/2041 | 1110 | 1087 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2020** <br>4.000% due 05/01/2045 | 9375 | 8902 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2022** <br>5.500% due 11/01/2045 | 9250 | 9916 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2024** <br>5.000% due 05/01/2047 | 3500 | 3630 |
| **New York City, New York Transitional Finance Authority Future Tax Secured Revenue Bonds, Series 2026** <br>5.000% due 02/01/2046 (e) | 11000 | 11525 |
| **New York Energy Finance Development Corp. Revenue Bonds, Series 2025** <br>5.000% due 07/01/2056 | 2800 | 2860 |
| **New York Liberty Development Corp. Revenue Bonds, Series 2005**  |  |  |
| 5.250% due 10/01/2035 (e)  | 21505 | 24455 |
| **New York Liberty Development Corp. Revenue Bonds, Series 2007** <br>5.500% due 10/01/2037 | 4700 | 5466 |
| **New York Liberty Development Corp. Revenue Bonds, Series 2014** <br>5.000% due 11/15/2044 | 9250 | 9250 |
| **New York Liberty Development Corp. Revenue Bonds, Series 2021** <br>2.875% due 11/15/2046 | 7160 | 5279 |
| **New York State Dormitory Authority Revenue Bonds, Series 2017** <br>4.000% due 02/15/2047 | 6000 | 5335 |
| **New York State Dormitory Authority Revenue Bonds, Series 2022** <br>5.000% due 05/01/2052 | 2000 | 2007 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **New York State Dormitory Authority Revenue Bonds, Series 2025** <br>5.250% due 03/15/2050 (e) | 17015 | 17966 |
| **New York State Thruway Authority Revenue Bonds, Series 2019** <br>4.000% due 01/01/2039 | 8150 | 7996 |
| **New York State Thruway Authority Revenue Bonds, Series 2021**  |  |  |
| 4.000% due 03/15/2040  | 1500 | 1466 |
| 4.000% due 03/15/2047  | 9375 | 8528 |
| **New York State Urban Development Corp. Revenue Bonds, Series 2019** <br>4.000% due 03/15/2045 | 4100 | 3834 |
| **New York State Urban Development Corp. Revenue Bonds, Series 2021** <br>4.000% due 03/15/2047 | 12250 | 11293 |
| **New York Transportation Development Corp. Revenue Bonds, (AGC Insured) ,Series 2024** <br>5.250% due 12/31/2054 | 6200 | 6240 |
| **New York Transportation Development Corp. Revenue Bonds, (AGM Insured), Series 2023** <br>5.125% due 06/30/2060 | 10500 | 10438 |
| **New York Transportation Development Corp. Revenue Bonds, (AGM Insured), Series 2024** <br>5.000% due 06/30/2054 | 1800 | 1785 |
| **Suffolk Tobacco Asset Securitization Corp. New York Revenue Bonds, Series 2021** <br>4.000% due 06/01/2050 | 4420 | 3617 |
| **Triborough Bridge & Tunnel Authority** <br>5.250% due 11/15/2050 (e) | 9750 | 10309 |
|  |  | 197064 |
| **NORTH CAROLINA 1.3%**  |  |  |
| **Inlivian, North Carolina Revenue Bonds, (FNMA Insured), Series 2024** <br>4.450% due 06/01/2041 | $4653 | 4468 |
| **Inlivian, North Carolina Revenue Bonds, Series 2025** <br>5.050% due 02/01/2043 | 2000 | 2089 |
| **North Carolina Turnpike Authority Revenue Bonds, (AGM Insured), Series 2024** <br>5.000% due 01/01/2058 | 6500 | 6503 |
|  |  | 13060 |
| **NORTH DAKOTA 0.0%**  |  |  |
| **Grand Forks County, North Dakota Revenue Bonds, Series 2021** <br>7.000% due 12/15/2043 ^(a) | 3740 | 0 |
| **OHIO 6.0%**  |  |  |
| **Buckeye Tobacco Settlement Financing Authority, Ohio Revenue Bonds, Series 2020**  |  |  |
| 0.000% due 06/01/2057 (c)  | 82900 | 6063 |
| 5.000% due 06/01/2055  | 13700 | 11063 |
| **Columbus Regional Airport Authority, Ohio Revenue Bonds, Series 2025**  |  |  |
| 5.000% due 01/01/2036  | 1000 | 1089 |
| 5.000% due 01/01/2038  | 2200 | 2361 |
| **Geisinger Authority, Ohio Revenue Bonds, Series 2017** <br>4.000% due 02/15/2047 | 16310 | 14278 |
| **Montgomery County, Ohio Dayton Children's Hospital Revenue Bonds, Series 2021** <br>4.000% due 08/01/2046 | 4500 | 4097 |
| **Ohio Air Quality Development Authority Revenue Bonds, Series 2019** <br>5.000% due 07/01/2049 | 5000 | 4534 |
| **Ohio Air Quality Development Authority Revenue Notes, Series 2019** <br>3.250% due 09/01/2029 | 3450 | 3425 |
| **Ohio Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2024** <br>4.350% due 09/01/2044 | 2200 | 2181 |
| **Ohio Housing Finance Agency Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025** <br>4.550% due 09/01/2045 | 10650 | 10563 |
|  |  | 59654 |
| **OKLAHOMA 0.4%**  |  |  |
| **Oklahoma Development Finance Authority Revenue Bonds, Series 2018** <br>5.500% due 08/15/2052 | 3600 | 3551 |
| **OREGON 0.5%**  |  |  |
| **Medford Hospital Facilities Authority, Oregon Revenue Bonds, Series 2020**  |  |  |
| 4.000% due 08/15/2039  | 3545 | 3409 |
| 4.000% due 08/15/2050  | 1500 | 1276 |
|  |  | 4685 |
| **PENNSYLVANIA 3.5%**  |  |  |
| **Montgomery County Industrial Development Authority, Pennsylvania Revenue Bonds, Series 2023** <br>4.450% due 10/01/2034 | 3000 | 3077 |
| **Montgomery County, Pennsylvania Higher Education & Health Authority Revenue Bonds, Series 2022** <br>4.000% due 05/01/2040 | 1750 | 1681 |
| **Pennsylvania Economic Development Financing Authority Revenue Bonds, (AGM Insured), Series 2022** <br>5.750% due 12/31/2062 | 13000 | 13475 |
| **Philadelphia Authority for Industrial Development, Pennsylvania Revenue Bonds, Series 2017** <br>5.500% due 12/01/2058 | 3000 | 3051 |
| **Philadelphia, Pennsylvania Airport Revenue Bonds, Series 2017** <br>5.000% due 07/01/2047 | 9000 | 9003 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Philadelphia, Pennsylvania Airport Revenue Bonds, Series 2021** <br>5.000% due 07/01/2051 | 5000 | 5009 |
|  |  | 35296 |
| **PUERTO RICO 6.8%**  |  |  |
| **Children's Trust Fund, Puerto Rico Revenue Bonds, Series 2008** <br>0.000% due 05/15/2057 (c) | 122000 | 5065 |
| **Commonwealth of Puerto Rico Bonds, Series 2022**  |  |  |
| 0.000% due 11/01/2043  | 5571 | 3739 |
| 0.000% due 11/01/2051  | 10506 | 7289 |
| **Commonwealth of Puerto Rico General Obligation Bonds, Series 2021**  |  |  |
| 0.000% due 07/01/2033 (c)  | 7250 | 5270 |
| 4.000% due 07/01/2041  | 6900 | 6393 |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2018**  |  |  |
| 0.000% due 07/01/2046 (c)  | 19300 | 6797 |
| 0.000% due 07/01/2051 (c)  | 76900 | 19711 |
| **Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue Bonds, Series 2019** <br>4.784% due 07/01/2058 | 14660 | 13557 |
|  |  | 67821 |
| **RHODE ISLAND 0.9%**  |  |  |
| **Tobacco Settlement Financing Corp. Rhode Island Revenue Bonds, Series 2015** <br>5.000% due 06/01/2050 | 9450 | 9260 |
| **SOUTH CAROLINA 1.1%**  |  |  |
| **South Carolina Public Service Authority Revenue Bonds, Series 2025**  |  |  |
| 5.000% due 12/01/2048  | 3500 | 3596 |
| 5.250% due 12/01/2050  | 6700 | 7034 |
|  |  | 10630 |
| **SOUTH DAKOTA 0.2%**  |  |  |
| **South Dakota Housing Development Authority Revenue Bonds, (GNMA/FNMA/FHLMC Insured), Series 2025** <br>4.500% due 11/01/2045 | 2100 | 2079 |
| **TENNESSEE 0.2%**  |  |  |
| **Chattanooga Health Educational & Housing Facility Board, Tennessee Revenue Bonds, Series 2019** <br>5.000% due 08/01/2049 | 1650 | 1651 |
| **TEXAS 21.0%**  |  |  |
| **AG East Montgomery County, Texas Improvement District Sales Tax Revenue Bonds, (AGM Insured), Series 2024** <br>4.000% due 08/15/2044 | 1600 | 1497 |
| **Angelina & Neches River Authority, Texas Revenue Bonds, Series 2021**  |  |  |
| 7.500% due 12/01/2045 ^(a)  | 2585 | 129 |
| 12.000% due 12/01/2045 ^(a)  | 4350 | 217 |
| **Arlington Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2024** <br>4.125% due 08/15/2049 | 5000 | 4602 |
| **Arlington Higher Education Finance Corp. Texas Revenue Bonds, Series 2025** <br>5.625% due 06/15/2045 | 2000 | 2042 |
| **Bexar County Texas Hospital District, General Obligation Bonds, Series 2018** <br>4.000% due 02/15/2043 | 2500 | 2333 |
| **Brazoria County, Texas Industrial Development Corp. Revenue Bonds, Series 2023** <br>12.000% due 06/01/2043 ^(a) | 2931 | 146 |
| **Calhoun County, Texas Navigation Industrial Development Authority Revenue Notes, Series 2021** <br>3.625% due 07/01/2026 | 3850 | 3814 |
| **Clifton Higher Education Finance Corp. Texas Revenue Bonds, (PSF Insured), Series 2025** <br>4.375% due 02/15/2042 | 2200 | 2192 |
| **Dallas Fort Worth International Airport, Texas Revenue Bonds, Series 2022** <br>5.000% due 11/01/2039 | 4000 | 4298 |
| **Dallas Fort Worth International Airport, Texas Revenue Bonds, Series 2025** <br>5.250% due 11/01/2042 | 4500 | 4839 |
| **Denton Essential Investments Public Facility Corp.** <br>7.095% due 06/02/2059 «~ | 7800 | 7908 |
| **Denton, Texas Essential Investments Public Facility Corp.** <br>6.697% due 01/01/2059 « | 5200 | 5067 |
| **EP Tuscany Zaragosa PFC, Texas Revenue Notes, Series 2023** <br>4.000% due 12/01/2033 | 15205 | 15192 |
| **Everman Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024** <br>4.000% due 02/15/2049 | 4000 | 3653 |
| **Fort Bend County Texas Public Facility Corp. Revenue Bonds, Series 2023** <br>5.000% due 03/01/2048 (e) | 13500 | 13866 |
| **Fort Worth, Texas Water & Sewer System Revenue Bonds, Series 2025** <br>5.000% due 02/15/2049 | 4000 | 4130 |
| **Grand Parkway Transportation Corp. Texas Revenue Bonds, (AGM/CR Insured), Series 2020** <br>4.000% due 10/01/2049 | 4045 | 3668 |
| **Grand Parkway Transportation Corp. Texas Revenue Bonds, Series 2020** <br>4.000% due 10/01/2049 | 5580 | 4987 |
| **Harris County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2025** <br>2.900% due 12/01/2060 | 5000 | 5000 |
| **Houston, Texas Airport System Revenue Bonds, Series 2024** <br>5.500% due 07/15/2036 | 1000 | 1055 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **La Vega Independent School District, Texas General Obligation Bonds, (PSF Insured), Series 2024** <br>4.000% due 02/15/2049 | 20940 | 19122 |
| **Lamar Consolidated Independent School District, Texas General Obligation Bonds, Series 2023** <br>4.000% due 02/15/2048 | 5000 | 4537 |
| **Lower Colorado River Authority, Texas Revenue Bonds, Series 2025** <br>5.000% due 05/15/2041 | 5000 | 5351 |
| **New Hope Cultural Education Facilities Finance Corp. Texas Revenue Bonds, Series 2016**  |  |  |
| 5.000% due 07/01/2046 ^(a)  | 1030 | 981 |
| 5.000% due 07/01/2051 ^(a)  | 135 | 128 |
| **New Hope Cultural Education Facilities Finance Corp. Texas Revenue Bonds, Series 2025**  |  |  |
| 5.000% due 11/01/2040  | 2000 | 2096 |
| 5.000% due 11/01/2055  | 2450 | 2367 |
| **North Texas Tollway Authority Revenue Bonds, Series 2017** <br>4.000% due 01/01/2043 | 3000 | 2829 |
| **San Antonio Municipal Facilities Corp. Texas Revenue Bonds, Series 2021** <br>4.000% due 08/01/2048 | 5300 | 4883 |
| **San Antonio Public Facilities Corp. Texas Revenue Bonds, Series 2012** <br>4.000% due 09/15/2042 | 10000 | 9423 |
| **San Antonio, Texas Electric & Gas Systems Revenue Bonds, Series 2024** <br>5.250% due 02/01/2049 (e) | 10000 | 10441 |
| **Southeast Regional Management District, Texas General Obligation Bonds, (AGC Insured), Series 2024**  |  |  |
| 4.250% due 04/01/2046  | 1000 | 944 |
| 4.250% due 04/01/2049  | 1185 | 1068 |
| 4.250% due 04/01/2053  | 1755 | 1534 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2017** <br>6.750% due 11/15/2047 | 2000 | 2011 |
| **Tarrant County, Texas Cultural Education Facilities Finance Corp. Revenue Bonds, Series 2024** <br>2.700% due 11/15/2050 | 13000 | 13000 |
| **Texas Department of Housing & Community Affairs Revenue Bonds, (GNMA Insured), Series 2025** <br>5.750% due 01/01/2056 | 12305 | 13474 |
| **Texas Municipal Gas Acquisition & Supply Corp. Revenue Bonds, Series 2006** <br>5.250% due 12/15/2026 | 150 | 152 |
| **Texas Municipal Gas Acquisition & Supply Corp. Revenue Bonds, Series 2008** <br>6.250% due 12/15/2026 | 5510 | 5641 |
| **Texas Transportation Finance Corp. Revenue Bonds, Series 2025** <br>5.000% due 10/01/2050 (e) | 15000 | 15486 |
| **Texas Water Development Board Revenue Bonds, Series 2023** <br>4.875% due 10/15/2048 | 3200 | 3262 |
|  |  | 209365 |
| **UTAH 2.4%**  |  |  |
| **County of Salt Lake, Utah Revenue Bonds, (AMBAC Insured), Series 2001** <br>5.125% due 02/15/2033 | 7000 | 7116 |
| **Downtown Revitalization Public Infrastructure District, Utah Revenue Bonds, (AGC Insured), Series 2025**  |  |  |
| 5.250% due 06/01/2041  | 1750 | 1935 |
| 5.250% due 06/01/2043  | 2300 | 2517 |
| **Mida Mountain Village Public Infrastructure District, Utah Special Assessment Notes, Series 2021** <br>4.000% due 08/01/2031 | 900 | 900 |
| **Military Installation Development Authority, Utah Revenue Bonds, Series 2021** <br>4.000% due 06/01/2036 | 1000 | 965 |
| **Salt Lake City, Utah Airport Revenue Bonds, Series 2017** <br>5.000% due 07/01/2047 | 8000 | 8003 |
| **Utah County, Utah Revenue Bonds, Series 2016** <br>4.000% due 05/15/2047 | 2500 | 2225 |
|  |  | 23661 |
| **VIRGINIA 1.9%**  |  |  |
| **Virginia Housing Development Authority Revenue Bonds, Series 2023** <br>5.125% due 10/01/2048 | 2210 | 2256 |
| **Virginia Small Business Financing Authority Revenue Bonds, Series 2019**  |  |  |
| 0.000% due 07/01/2061 (c)  | 99000 | 2820 |
| 5.000% due 07/01/2034  | 5000 | 4447 |
| **Virginia Small Business Financing Authority Revenue Bonds, Series 2020** <br>4.000% due 12/01/2049 | 11200 | 9564 |
|  |  | 19087 |
| **WASHINGTON 0.4%**  |  |  |
| **Vancouver Housing Authority, Washington Revenue Bonds, Series 2025** <br>4.125% due 12/01/2039 | 3210 | 3093 |
| **Washington State Housing Finance Commission Revenue Bonds, Series 2018** <br>5.000% due 07/01/2038 | 825 | 680 |
|  |  | 3773 |
| **WEST VIRGINIA 1.9%**  |  |  |
| **Monongalia County, West Virginia Commission Special District Revenue Bonds, Series 2017** <br>5.500% due 06/01/2037 | 4000 | 4040 |
| **West Virginia Economic Development Authority Revenue Bonds, Series 2017** <br>4.000% due 06/15/2040 | 9610 | 9342 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **West Virginia Economic Development Authority Revenue Bonds, Series 2025** <br>5.450% due 01/01/2055 | 4900 | 5327 |
|  |  | 18709 |
| **WISCONSIN 4.3%**  |  |  |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2017**  |  |  |
| 6.750% due 08/01/2031  | 1000 | 700 |
| 7.000% due 01/01/2050  | 9500 | 9999 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2018** <br>6.375% due 01/01/2048 ^(a) | 9500 | 4275 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2021**  |  |  |
| 0.000% due 01/01/2061 (c)  | 32090 | 2559 |
| 4.000% due 09/30/2051  | 2960 | 2440 |
| 4.000% due 03/31/2056  | 2000 | 1601 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2022** <br>5.000% due 10/01/2052 | 2000 | 2003 |
| **Public Finance Authority, Wisconsin Revenue Bonds, Series 2025**  |  |  |
| 5.000% due 11/15/2035  | 500 | 541 |
| 5.000% due 11/15/2036  | 500 | 538 |
| 5.000% due 11/15/2037  | 500 | 535 |
| 5.000% due 11/15/2038  | 600 | 637 |
| 5.250% due 11/15/2050  | 2500 | 2528 |
| **Public Finance Authority, Wisconsin Revenue Bonds,(BAM Insured), Series 2025** <br>5.250% due 07/01/2065 | 15000 | 15008 |
|  |  | 43364 |
| Total Municipal Bonds & Notes (Cost $1,547,787) |  | 1514409 |
| **U.S. GOVERNMENT AGENCIES 4.7%**  |  |  |
| **Federal Home Loan Mortgage Corp.**  |  |  |
| 3.800% due 01/01/2040 | 19589 | 18690 |
| 3.850% due 01/01/2040 | 11300 | 10783 |
| 4.900% due 02/01/2040 | 1968 | 2071 |
| **Federal Home Loan Mortgage Corp. Multifamily ML Certificates**  |  |  |
| 2.951% due 12/25/2038 - 01/25/2039 ~ | 14082 | 11227 |
| 3.198% due 01/25/2043 ~ | 2600 | 1736 |
| 4.979% due 01/25/2042 ~ | 2400 | 1943 |
| Total U.S. Government Agencies (Cost $46,770) |  | 46450 |
| **NON-AGENCY MORTGAGE-BACKED SECURITIES 0.2%**  |  |  |
| **Housing & Redevelopment Authority of Duluth Minnesota** <br>4.950% due 08/01/2042 | 1395 | 1462 |
| Total Non-Agency Mortgage-Backed Securities (Cost $1,395) |  | 1462 |
|  | SHARES |  |
| **COMMON STOCKS 0.0%**  |  |  |
| **INDUSTRIALS 0.0%**  |  |  |
| **AM Bidco Holdings LLC (b)** | 247 | 0 |
| Total Common Stocks (Cost $0) |  | 0 |
| Total Investments in Securities (Cost $1,737,842) |  | 1704212 |
| Total Investments 171.1% (Cost $1,737,842) |  | $1704212 |
| Remarketable Variable Rate MuniFund Term Preferred Shares, at liquidation value (61.3)% |  | (610800) |
| Other Assets and Liabilities, net (9.8)% |  | (97139) |
| Net Assets Applicable to Common Shareholders 100.0% |  | $996273 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  | **NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS:**  |
| **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** | **\* A zero balance may reflect actual amounts rounding to less than one thousand.** |
| **¤** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** | **The geographical classification of foreign (non-U.S.) securities in this report, if any, are classified by the country of incorporation of a holding. In certain instances, a security's country of incorporation may be different from its country of economic exposure.** |
| **^** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** | **Security is in default.** |
| **«** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** | **Security valued using significant unobservable inputs (Level 3).** |
| **µ** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** | **All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the time of funding.** |
| **~** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** | **Variable or Floating rate security. Rate shown is the rate in effect as of period end. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent and are based on current market conditions. Reference rate is as of reset date, which may vary by security. These securities may not indicate a reference rate and/or spread in their description.** |
| **(a)** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** | **Security is not accruing income as of the date of this report.** |
| **(b)** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** | **Security did not produce income within the last twelve months.** |
| **(c)** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** | **Zero coupon security.** |
| **(d)** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** | **Security becomes interest bearing at a future date.** |
| **(e)** | **Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.**  | **Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.**  | **Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.**  | **Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.**  | **Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.**  | **Represents an underlying municipal bond transferred to a tender option bond trust established in a tender option bond transaction in which the Fund sold, or caused the sale of, the underlying municipal bond and purchased the residual interest certificate. The security serves as collateral in a financing transaction.**  |
| **(f)** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** | **RESTRICTED SECURITIES:** |
| Issuer Description | Coupon | Maturity<br>Date | Acquisition<br>Date | Acquisition<br>Date | Cost | Market Value<br>as Percentage<br>of Net Assets |
| AM Bidco Operations LLC | 0.000 | % | 10/21/2027 | 10/21/2025 - 04/01/2026 | 5351 | 0.51 |
| Ammons AT Asheville Highway | 4.200 |  | 10/01/2041 | 01/09/2025 | 8715 | 0.90 |
| Bellwood Senior Housing | 4.280 |  | 10/01/2040 | 05/01/2025 | 2581 | 0.26 |
| Federal Home Loan Mortgage Corp. Enhanced Receipt, New Jersey Revenue Bonds, Series 2019 | 3.870 |  | 11/15/2035 | 10/26/2020 | 162 | 0.01 |
|  |  |  |  | $ | $ | 1.68%  |
| **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** | **FAIR VALUE MEASUREMENTS** |
| **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: | **The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 in valuing the Fund's assets and liabilities**: |
| Category and Subcategory | Category and Subcategory | Level 1 | Level 1 | Level 2 | Level 3 | Fair Value<br>at 03/31/2026 |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | $ | 0 | 0 | 141891 | 141891 |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| Alabama | Alabama |  | 0 | 42393 | 0 | 42393 |
| Alaska | Alaska |  | 0 | 6832 | 0 | 6832 |
| Arizona | Arizona |  | 0 | 88383 | 0 | 88383 |
| Arkansas | Arkansas |  | 0 | 9307 | 0 | 9307 |
| California | California |  | 0 | 33154 | 0 | 33154 |
| Colorado | Colorado |  | 0 | 63619 | 0 | 63619 |
| Connecticut | Connecticut |  | 0 | 21146 | 0 | 21146 |
| District of Columbia | District of Columbia |  | 0 | 7849 | 0 | 7849 |
| Florida | Florida |  | 0 | 72268 | 0 | 72268 |
| Georgia | Georgia |  | 0 | 67029 | 0 | 67029 |
| Illinois | Illinois |  | 0 | 110290 | 0 | 110290 |
| Indiana | Indiana |  | 0 | 27065 | 0 | 27065 |
| Iowa | Iowa |  | 0 | 26913 | 0 | 26913 |
| Kansas | Kansas |  | 0 | 57 | 0 | 57 |
| Kentucky | Kentucky |  | 0 | 11177 | 0 | 11177 |
| Louisiana | Louisiana |  | 0 | 41718 | 0 | 41718 |
| Maine | Maine |  | 0 | 1846 | 0 | 1846 |
| Maryland | Maryland |  | 0 | 2141 | 0 | 2141 |
| Massachusetts | Massachusetts |  | 0 | 6882 | 0 | 6882 |
| Michigan | Michigan |  | 0 | 28985 | 0 | 28985 |
| Minnesota | Minnesota |  | 0 | 11542 | 0 | 11542 |
| Mississippi | Mississippi |  | 0 | 3836 | 0 | 3836 |
| Missouri | Missouri |  | 0 | 20874 | 0 | 20874 |
| Montana | Montana |  | 0 | 2758 | 0 | 2758 |
| Multi-State | Multi-State |  | 0 | 34004 | 0 | 34004 |
| Nevada | Nevada |  | 0 | 5274 | 0 | 5274 |
| New Hampshire | New Hampshire |  | 0 | 26027 | 0 | 26027 |
| New Jersey | New Jersey |  | 0 | 18330 | 0 | 18330 |
| New York | New York |  | 0 | 197002 | 62 | 197064 |
| North Carolina | North Carolina |  | 0 | 13060 | 0 | 13060 |
| Ohio | Ohio |  | 0 | 59654 | 0 | 59654 |
| Oklahoma | Oklahoma |  | 0 | 3551 | 0 | 3551 |
| Oregon | Oregon |  | 0 | 4685 | 0 | 4685 |
| Pennsylvania | Pennsylvania |  | 0 | 35296 | 0 | 35296 |
| Puerto Rico | Puerto Rico |  | 0 | 67821 | 0 | 67821 |

---

------

<br> Consolidated Schedule of Investments PIMCO Municipal Income Fund II (Cont.) March 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Rhode Island | Rhode Island | Rhode Island | Rhode Island | Rhode Island | 0 | 0 | 0 | 9260 | 9260 | 0 | 0 |  |  |  | 9260 |  |  |
|  | South Carolina | South Carolina | South Carolina | South Carolina | South Carolina | 0 | 0 | 0 | 10630 | 10630 | 0 | 0 |  |  |  | 10630 |  |  |
|  | South Dakota | South Dakota | South Dakota | South Dakota | South Dakota | 0 | 0 | 0 | 2079 | 2079 | 0 | 0 |  |  |  | 2079 |  |  |
|  | Tennessee | Tennessee | Tennessee | Tennessee | Tennessee | 0 | 0 | 0 | 1651 | 1651 | 0 | 0 |  |  |  | 1651 |  |  |
|  | Texas | Texas | Texas | Texas | Texas | 0 | 0 | 0 | 196390 | 196390 | 12975 | 12975 |  |  |  | 209365 |  |  |
|  | Utah | Utah | Utah | Utah | Utah | 0 | 0 | 0 | 23661 | 23661 | 0 | 0 |  |  |  | 23661 |  |  |
|  | Virginia | Virginia | Virginia | Virginia | Virginia | 0 | 0 | 0 | 19087 | 19087 | 0 | 0 |  |  |  | 19087 |  |  |
|  | Washington | Washington | Washington | Washington | Washington | 0 | 0 | 0 | 3773 | 3773 | 0 | 0 |  |  |  | 3773 |  |  |
|  | West Virginia | West Virginia | West Virginia | West Virginia | West Virginia | 0 | 0 | 0 | 18709 | 18709 | 0 | 0 |  |  |  | 18709 |  |  |
|  | Wisconsin | Wisconsin | Wisconsin | Wisconsin | Wisconsin | 0 | 0 | 0 | 43364 | 43364 | 0 | 0 |  |  |  | 43364 |  |  |
| U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | U.S. Government Agencies | 0 | 0 | 0 | 46450 | 46450 | 0 | 0 |  |  |  | 46450 |  |  |
| Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | Non-Agency Mortgage-Backed Securities | 0 | 0 | 0 | 1462 | 1462 | 0 | 0 |  |  |  | 1462 |  |  |
| Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | Total Investments | $0 | 0 | 0 | $1549284 | 1549284 | $154928 | 154928 | $ | $ | $ | 1704212 |  |  |
| **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** | **The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Fund during the period ended March 31, 2026:** |
| Category and Subcategory | Category and Subcategory | Beginning<br>Balance<br>at 12/31/2025 | Net<br>Purchases | Net<br>Sales/Settlements | Net<br>Sales/Settlements | Accrued<br>Discounts/<br>(Premiums) | Realized<br>Gain/(Loss) | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<sup>(1)</sup> | Transfers into<br>Level 3 | Transfers into<br>Level 3 | Transfers out<br>of Level 3 | Transfers out<br>of Level 3 | Transfers out<br>of Level 3 | Ending<br>Balance<br>at 03/31/2026 | Ending<br>Balance<br>at 03/31/2026 | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> | Net Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>on Investments<br>Held at<br>03/31/2026<sup>(1)</sup> |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | $130355 | 11884 | $ | $(34) | 153 | $3 | $ | (470) | $0 | 0 | $0 | 0 | 0 | $ | 141891 | $ | (223) |
| Municipal Bonds & Notes<sup>(2)</sup> | Municipal Bonds & Notes<sup>(2)</sup> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| New York | New York | 58 | 0 |  | 0 | 0 | 0 |  | 4 | 0 | 0 | 0 | 0 | 0 |  | 62 |  | 4 |
| Texas | Texas | 13111 | 0 |  | 0 | 0 | 0 |  | (136) | 0 | 0 | 0 | 0 | 0 |  | 12975 |  | (133) |
| Totals | Totals | $143524 | 11884 | $ | $(34) | 153 | $3 | $ | (602) | $0 | 0 | $0 | 0 | 0 | $ | 154928 | $ | (352) |
| <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** | <br>**The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized within Level 3 of the fair value hierarchy:** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) | (% Unless Noted Otherwise) |
| Category and Subcategory | Category and Subcategory | Category and Subcategory | Ending<br>Balance<br>at 03/31/2026 | Ending<br>Balance<br>at 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation Technique | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs | &nbsp;&nbsp;&nbsp;&nbsp; Unobservable Inputs |  | Input Value(s) | Input Value(s) | Input Value(s) | Weighted Average | Weighted Average |
| **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** | **Investments in Securities, at Value** |
| Loan Participations and Assignments | Loan Participations and Assignments | Loan Participations and Assignments | $5109 | 5109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comparable Companies | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple | &nbsp;&nbsp;&nbsp;&nbsp; Revenue Multiple | X | 1.800 | 1.800 | 1.800 |  |  |
|  |  |  | 136782 | 136782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate |  | 5.370 – 9.960 | 5.370 – 9.960 | 5.370 – 9.960 | 6.597 | 6.597 |
| Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes | Municipal Bonds & Notes |
| New York | New York | New York | 62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected Recovery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected Recovery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected Recovery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected Recovery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected Recovery | &nbsp;&nbsp;&nbsp;&nbsp; Recovery Rate | &nbsp;&nbsp;&nbsp;&nbsp; Recovery Rate | &nbsp;&nbsp;&nbsp;&nbsp; Recovery Rate | &nbsp;&nbsp;&nbsp;&nbsp; Recovery Rate |  | 25.000 | 25.000 | 25.000 |  |  |
| Texas | Texas | Texas | 12975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discounted Cash Flow | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate | &nbsp;&nbsp;&nbsp;&nbsp; Discount Rate |  | 6.640 – 7.040 | 6.640 – 7.040 | 6.640 – 7.040 | 6.796 | 6.796 |
| Total | Total | Total | $154928 | 154928 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| <sup>(1)</sup> | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. | Any difference between Net Change in Unrealized Appreciation/(Depreciation) and Net Change in Unrealized Appreciation/(Depreciation) on Investments Held at March 31, 2026 may be due to an investment no longer held or categorized as Level 3 at period end. |
| <sup>(2)</sup> | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. | Security type updated from Loan Participations and Assignments to Municipal Bonds & Notes since prior fiscal year end. |

---

------

Notes to Financial Statements

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

**1. BASIS FOR CONSOLIDATION**

The Fund's subsidiaries were each formed as a wholly owned subsidiary acting as an investment vehicle for the Fund in order to effect certain investments for the Fund consistent with the Fund's investment objectives and policies in effect from time to time. The Fund's investment portfolio has been consolidated and includes the portfolio holdings of the Fund and its subsidiaries. Accordingly, the consolidated financial statements include the accounts of the Fund and its subsidiary. All inter-company transactions and balances have been eliminated. This structure was established so that certain investments could be held by a separate legal entity from the Fund. See the table below for details regarding the structure, incorporation and relationship as of period end.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Subsidiary** | &nbsp;&nbsp; **Date of Formation** | &nbsp;&nbsp; **Subsidiary % of Consolidated Fund Net Assets**<sup>†</sup> |
| &nbsp;&nbsp;&nbsp; 1800 SPV I LLC | &nbsp;&nbsp;&nbsp; 06/29/2023 | &nbsp;&nbsp;&nbsp; 0.9% |
| &nbsp;&nbsp;&nbsp; 1860 SPV I LLC | &nbsp;&nbsp;&nbsp; 06/29/2023 | &nbsp;&nbsp;&nbsp; 3.8% |
| &nbsp;&nbsp;&nbsp; 1830 SPV I LLC | &nbsp;&nbsp;&nbsp; 06/29/2023 | &nbsp;&nbsp;&nbsp; 1.2% |

---

<sup>†</sup> A zero balance may reflect actual amounts rounding to less than 0.01%.

**2. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS**

**(a) Investment Valuation Policies** The net asset value ("NAV") of the Fund's shares, or each of its share classes, as applicable, is determined by dividing the total value of portfolio investments and other assets attributable to the Fund or class, less any liabilities, as applicable, by the total number of shares outstanding.

On each day that the New York Stock Exchange ("NYSE") is open, the Fund's shares are ordinarily valued as of the close of regular trading (normally 4:00 p.m., Eastern time) ("NYSE Close"). Information that becomes known to the Fund or its agents after the time as of which NAV has been calculated on a particular day will not generally be used to retroactively adjust the price of a security or the NAV determined earlier that day. If regular trading on the NYSE closes earlier than scheduled, the Fund may calculate its NAV as of the earlier closing time or calculate its NAV as of the NYSE Close for that day. The Fund generally does not calculate its NAV on days on which the NYSE is not open for business. If the NYSE is closed on a day it would normally be open for business, the Fund may calculate its NAV as of the NYSE Close for such day or such other time that the Fund may determine.

For purposes of calculating NAV, portfolio securities and other assets for which market quotations are readily available are valued at market value. A market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. Market value is generally determined on the basis of official closing prices or the last reported sales prices. The Fund will normally use pricing data for domestic equity securities received shortly after the NYSE Close and does not normally take into account trading, clearances or settlements that take place after the NYSE Close.

Investments for which market quotations are not readily available are valued at fair value as determined in good faith pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the "Act"). As a general principle, the fair value of a security or other asset is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Pursuant to Rule 2a-5, the Board of Trustees has designated Pacific Investment Management Company LLC ("PIMCO") as the valuation designee ("Valuation Designee") for the Fund to perform the fair value determination relating to all Fund investments. PIMCO may carry out its designated responsibilities as Valuation Designee through various teams and committees. The Valuation Designee's policies and procedures govern the Valuation Designee's selection and application of methodologies for determining and calculating the fair value of Fund investments. The Valuation Designee may value Fund portfolio securities for which market quotations are not readily available and other Fund assets utilizing inputs from pricing services, quotation reporting systems, valuation agents and other third-party sources (together, "Pricing Sources").

Fair valuation may require subjective determinations about the value of a security. While the Fund's and Valuation Designee's policies and procedures are intended to result in a calculation of the Fund's NAV that fairly reflects security values as of the time of pricing, the Fund cannot ensure that fair values accurately reflect the price that the Fund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Fund may differ from the value that would be realized if the securities were sold.

**(b) Fair Value Hierarchy** U.S. GAAP describes fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into levels (Level 1, 2 or 3). The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

• Level 1 — Quoted prices (unadjusted) in active markets or exchanges for identical assets and liabilities.

• Level 2 — Significant other observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.

• Level 3 — Significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include assumptions made by the Valuation Designee that are used in determining the fair value of investments.

In accordance with the requirements of U.S. GAAP, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to Schedule of Investments for the Fund.

For fair valuations using significant unobservable inputs, U.S. GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to realized gain (loss), unrealized appreciation (depreciation), purchases and sales, accrued discounts (premiums), and transfers into and out of the Level 3 category during the period. The end of period value is used for the transfers between fair value Levels of the Fund's assets and liabilities. Additionally, U.S. GAAP requires quantitative information regarding the significant unobservable inputs used in the determination of fair value of assets or liabilities categorized as Level 3 in the fair value hierarchy. In

------

Notes to Financial Statements(Cont.)

accordance with the requirements of U.S. GAAP, a fair value hierarchy, and if material, a Level 3 reconciliation and details of significant unobservable inputs, have been included in the Notes to Schedule of Investments for the Fund.

**(c) Valuation Techniques and the Fair Value Hierarchy**

**Level 1, Level 2 and Level 3 trading assets and trading liabilities, at fair value** The valuation methods (or "techniques") and significant inputs used in determining the fair values of portfolio securities or other assets and liabilities categorized as Level 1, Level 2 and Level 3 of the fair value hierarchy are as follows:

Fixed income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. treasury obligations, sovereign issues, bank loans, convertible preferred securities, non-U.S. bonds and short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) are normally valued on the basis of quotes obtained from brokers and dealers or Pricing Sources that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The Pricing Sources' internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

Fixed income securities purchased on a delayed-delivery basis or as a repurchase commitment in a sale-buyback transaction are marked to market daily until settlement at the forward settlement date and are categorized as Level 2 of the fair value hierarchy.

Expected recovery valuation estimates that the fair value of an existing asset can be recovered, net of any liability. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

The Discounted Cash Flow model is based on future cash flows generated by the investment and may be normalized based on expected investment performance. Future cash flows are discounted to present value using an appropriate rate of return, typically calibrated to the initial transaction date and adjusted based on Capital Asset Pricing Model and/or other market-based inputs. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

<br>The Comparable Companies model is based on application of valuation multiples from publicly traded comparable companies to the financials of the subject company. Adjustments may be made to the marketderived valuation multiples based on differences between the comparable companies and the subject company. Significant changes in the unobservable inputs would result in direct and proportional changes in the fair value of the security. These securities are categorized as Level 3 of the fair value hierarchy.

Short-term debt instruments (such as commercial paper, time deposits and certificates of deposit) having a remaining maturity of 60 days or less may be valued at amortized cost, so long as the amortized cost value of such short-term debt instruments is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. These securities are categorized as Level 2 or Level 3 of the fair value hierarchy depending on the source of the base price.

When a fair valuation method is applied by PIMCO that uses significant unobservable inputs, investments will be priced by a method that the Valuation Designee believe reflects fair value and are categorized as Level 3 of the fair value hierarchy.

**3. FEDERAL INCOME TAX MATTERS**

The Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (the "Code") and distribute all of its income and net realized gains, if applicable, to shareholders. Accordingly, no provision for Federal income taxes has been made.

The Fund may be subject to local withholding taxes, including those imposed on realized capital gains. Any applicable foreign capital gains tax is accrued daily based upon net unrealized gains, and may be payable following the sale of any applicable investments.

In accordance with U.S. GAAP, the Manager has reviewed the Fund's tax positions for all open tax years. As of March 31, 2026, the Fund has recorded no liability for net unrecognized tax benefits relating to uncertain income tax positions it has taken or expects to take in future tax returns.

The Fund files U.S. federal, state and local tax returns as required. The Fund's tax returns are subject to examination by relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return but which can be extended to six years in certain circumstances. Tax returns for open years have incorporated no uncertain tax positions that require a provision for income taxes.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** | **Glossary: (abbreviations that may be used in the preceding statements)** |  | (Unaudited) |
| **Currency Abbreviations:** | **Currency Abbreviations:** |  |  |  |  |
| **USD (or $)** | United States Dollar |  |  |  |  |
| **Index/Spread Abbreviations:** | **Index/Spread Abbreviations:** |  |  |  |  |
| **TSFR3M** | Term SOFR 3-Month |  |  |  |  |
| **Municipal Bond or Agency Abbreviations:** | **Municipal Bond or Agency Abbreviations:** |  |  |  |  |
| **AGC** | Assured Guaranty Corp. | **CNTY** | County Guaranteed | **FNMA** | Federal National Mortgage Association |
| **AGM** | Assured Guaranty Municipal | **CR** | Custodial Receipts | **GNMA** | Government National Mortgage Association |
| **AMBAC** | American Municipal Bond Assurance Corp. | **FHLMC** | Federal Home Loan Mortgage Corp. | **PSF** | Public School Fund |
| **BAM** | Build America Mutual Assurance |  |  |  |  |
| **Other Abbreviations:** | **Other Abbreviations:** |  |  |  |  |
| **TBA** | To-Be-Announced | **TBD** | To-Be-Determined | **TBD%** | Interest rate to be determined when loan <br> settles or at the time of funding |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PIMCO Municipal Income Fund II

- **b. Investment Company Act file number:** 811-21076

- **c. CIK number of Registrant:** 0001170299

- **d. LEI of Registrant:** ZVT714KPY3QTZWRT1S41

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

  - **Street Address 1:** 1633 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10019

  - **Telephone number:** (844) 337-4626

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

- **a. Name of Series:** N/A

- **c. LEI of Series:** N/A

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1773041487.71

**Total Liabilities:** $777114994.77

**Net Assets:** $995926492.94

**Cash Not Reported:** $45550616.26

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1524.643600 | **1-Year:** 13930.583700 | **5-Year:** 219052.553400 | **10-Year:** 788203.174500 | **30-Year:** 157371.419000

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

- **3-Month:** 110.869300 | **1-Year:** 4244.603700 | **5-Year:** 50547.086700 | **10-Year:** 64062.469000 | **30-Year:** 15957.513400

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.64%                | 1.94%                | -2.56%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1726247.67             | $5724455.57                                |
| Month 2  | $-132739.90              | $24797508.49                               |
| Month 3  | $-1666074.30             | $-45218443.35                              |

**Designated Index Information**

- **Index Name:** ICE Long Duration National Municipal Securities Index

- **Index Identifier:** MULD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO BOARD OF EDUCATION                                               | CHICAGO IL BRD OF EDU CHIEDU 12/46 FIXED OID 5                           | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $10057881.90  | 1.01%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HOSP R                                 | VIRGINIA ST SMALL BUSINESS FIN VASHGR 07/34 FIXED OID 5                  | CUSIP: 92810PAV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4446996.00   | 0.45%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTHORITY                                               | MICHIGAN ST FIN AUTH LTD OBLIG MISFIN 09/30 FIXED 4.3                    | CUSIP: 594479FR3<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    100000 | PA      | $92659.61     | 0.01%             | 2030-09-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE & HALL COUNTY HOSPITAL AUTHORITY                             | GAINESVILLE   HALL CNTY GA HOS GAIMED 02/51 FIXED 4                      | CUSIP: 362762QR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3292617.54   | 0.33%             | 2051-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRICT                     | MIDA MOUNTAIN VLG PUBLIC INFRA MMVDEV 08/31 FIXED 4                      | CUSIP: 59561TAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $899845.83    | 0.09%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA HEALTH EDUCATIONAL & HOUSING FACILITY BOARD                  | CHATTANOOGA TN HLTH EDUCTNL  H CHAMED 08/49 FIXED 5                      | CUSIP: 162410FF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1651524.93   | 0.17%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED                                              | HARRIS CNTY TX CULTURAL EDU FA HAREDU 12/60 ADJUSTABLE VAR               | CUSIP: 414009TJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000000.00   | 0.50%             | 2060-12-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| EMPIRE STATE DEVELOPMENT CORPORATION                                     | NEW YORK ST URBAN DEV CORP SAL NYSFAC 03/47 FIXED 4                      | CUSIP: 64985TCU3<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |  12250000 | PA      | $11293304.40  | 1.13%             | 2047-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                       | NEW YORK ST DORM AUTH ST PERSO NYSHGR 02/47 FIXED 4                      | CUSIP: 64990FWU4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10189.90     | 0.00%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ASHEVILLE HOUSING AUTHORITY                                              | ASHEVILLE HOUSING AUTHORITY                                              | CUSIP: BA000LT17<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5621482 | PA      | $5629516.03   | 0.57%             | 2043-01-01      | Fixed         | 6.12%                 | No            |                  3 | On Loan: No      |
| AM Bidco Secured                                                         | AM Bidco Secured                                                         | CUSIP: BA000R643<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6030135 | PA      | $4994267.21   | 0.50%             | 2027-10-21      | Fixed         | 2.67%                 | Yes           |                  3 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                   | IOWA ST FIN AUTH MIDWSTRN DISA IASGEN 12/50 FIXED 5                      | CUSIP: 46246SAU9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |  11000000 | PA      | $12397498.30  | 1.24%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                   | IOWA ST FIN AUTH REVENUE IASGEN 01/42 FIXED OID 8                        | CUSIP: 46247SCZ5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3019619.82   | 0.30%             | 2042-01-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEVELOPMENT FINANCE AUTHORITY                                   | ARKANSAS DEV FIN AUTH ENVIRONM ARSDEV 09/52 FIXED 5.45                   | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $352864.16    | 0.04%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/FL                     | CHARLOTTE CNTY FL INDL DEV AUT CHAUTL 10/51 FIXED 4                      | CUSIP: 16080TAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $4780828.20   | 0.48%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD ORE HOSP FACS AUTH REV                                           | MEDFORD OR HOSP FACS AUTH REVE MFDMED 08/50 FIXED 4                      | CUSIP: 584283HD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1275671.70   | 0.13%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                     | COLORADO ST HLTH FACS AUTH REV COSMED 08/44 FIXED 5                      | CUSIP: 19648FKS2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   6015000 | PA      | $6111978.64   | 0.61%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                   | PUERTO RICO SALES TAX FING COR PRCGEN 07/46 ZEROCPNOID 0                 | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  19300000 | PA      | $6796630.10   | 0.68%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NEW YORK CITY NY TRANSITIONAL NYCGEN 11/45 FIXED 5.5                     | CUSIP: 64971X4D7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9250000 | PA      | $9916050.88   | 1.00%             | 2045-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| The Health, Educational and Housing Facility Board of the County of Knox | The Health, Educational and Housing Facility Board of the County of Knox | CUSIP: BA000DPR2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10049393 | PA      | $8914816.24   | 0.90%             | 2041-10-01      | Fixed         | 4.20%                 | Yes           |                  3 | On Loan: No      |
| NORTH TEXAS TOLLWAY AUTHORITY                                            | N TX TOLLWAY AUTH REVENUE NRTTRN 01/43 FIXED 4                           | CUSIP: 66285WWC6<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2828545.20   | 0.28%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP                      | NEW HOPE CULTURAL ED FACS FIN NHPFAC 11/55 FIXED 5                       | CUSIP: 64542UHB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2366958.48   | 0.24%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION                                           | MET PIER EXPOSITION AUTH IL MPNFAC 06/37 ZEROCPNOID 0                    | CUSIP: 592250EL4<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $628574.10    | 0.06%             | 2037-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                               | ILLINOIS FIN AUTH REV 11/54 6.5                                          | CUSIP: 45204FX26<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   4090110 | PA      | $3635517.18   | 0.37%             | 2054-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSPORTATION FINANCE CORP                                        | TEXAS ST TRANSPRTN FIN CORP SH TTFTRN 10/50 FIXED 5                      | CUSIP: 88283PAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15485749.50  | 1.55%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPALITY OF ANCHORAGE AK SOLID WASTE SERVICES REVENUE                | ANCHORAGE AK SOL WST SVCS REVE ANCPOL 11/62 FIXED 5.25                   | CUSIP: 033262AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4695000 | PA      | $4746501.33   | 0.48%             | 2062-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE FL TRANSIT SYSTEM                                   | MIAMI DADE CNTY FL TRANSIT SAL MIATRN 07/46 FIXED OID 4                  | CUSIP: 59334PGR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $931746.60    | 0.09%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANGELINA & NECHES RIVER AUTHORITY                                        | ANGELINA NECHES RIVER AUTH I ANGDEV 12/45 FIXED 12                       | CUSIP: 03469KAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4350000 | PA      | $217500.00    | 0.02%             | 2045-12-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| ARKANSAS DEVELOPMENT FINANCE AUTHORITY                                   | ARKANSAS ST DEV FIN AUTH INDL ARSDEV 07/48 FIXED 12                      | CUSIP: 04108WCF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5410860.50   | 0.54%             | 2048-07-01      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| REGIONAL TRANSPORTATION AUTHORITY                                        | REGL TRANSPRTN AUTH IL REGTRN 06/38 FIXED 5                              | CUSIP: 7599114B3<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |  15400000 | PA      | $15943903.36  | 1.60%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLIVIAN                                                                 | INLIVIAN NC MF TAX EXEMPT MTGE INLMFH 06/41 FIXED 4.45                   | CUSIP: 45753EAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4653110 | PA      | $4468131.66   | 0.45%             | 2041-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO GOVT                                                         | PUERTO RICO CMWLTH PRC 11/51 ADJUSTABLE VAR                              | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |  10506249 | PA      | $7288710.35   | 0.73%             | 2051-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI STATE HEALTH AND EDUCATION                                      | MISSOURI ST HLTH   EDUCTNL FAC MOSMED 12/48 FIXED 5.5                    | CUSIP: 60637AWK4<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5404107.39   | 0.54%             | 2048-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| THE PASSAIC COUNTY IMPROVEMENT AUTHORITY                                 | PASSAIC CNTY NJ IMPT AUTH CHRT PASEDU 07/40 FIXED OID 4.5                | CUSIP: 70275QAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986548.60    | 0.10%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                       | DASNY-C-REF                                                              | CUSIP: 64990KJC8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |  17015000 | PA      | $17965527.66  | 1.80%             | 2050-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND PARKWAY TRANSPORTATION CORPORATION                                 | GRAND PARKWAY TRANSPRTN CORP T GPTTRN 10/49 FIXED 4                      | CUSIP: 38611TCC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5580000 | PA      | $4987053.58   | 0.50%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARISH OF ST JAMES LA                                                    | SAINT JAMES PARISH LA REVENUE STJGEN 07/40 FIXED 6.35                    | CUSIP: 790103AV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2813327.92   | 0.28%             | 2040-07-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY ML CERTIFICATES                                  | FREDDIE MAC MULTIFAMILY FRETE 2024 ML26 A                                | CUSIP: 3137HH6N6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |   8881560 | PA      | $7767229.55   | 0.78%             | 2038-12-25      | Variable      | 3.26%                 | No            |                  2 | On Loan: No      |
| LENEXA KANS HEALTH CARE FAC REV                                          | LENEXA KS TAX INCR SPL OBLG LENGEN 04/27 FIXED 6                         | CUSIP: 52605NBG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    638855 | PA      | $57496.97     | 0.01%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 03/56 FIXED 4                          | CUSIP: 74442PTG0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1601097.20   | 0.16%             | 2056-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY N Y INDL DEV AGY SCHFAC REV                                    | ERIE CNTY NY INDL DEV AGY MF H ERIMFH 02/41 FIXED OID 4.25               | CUSIP: 29508TAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4800000 | PA      | $4696475.52   | 0.47%             | 2041-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY OF                                                         | NEW YORK NY NYC 04/45 FIXED 5                                            | CUSIP: 64966MA25<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2338589.17   | 0.23%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO GOVT                                                         | PUERTO RICO CMWLTH PRC 11/43 ADJUSTABLE VAR                              | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   5570917 | PA      | $3739478.00   | 0.38%             | 2043-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VANCOUVER HOUSING AUTHORITY                                              | VANCOUVER WA HSG AUTH MF REVEN VANMFH 12/39 FIXED OID 4.125              | CUSIP: 92162PAL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3210000 | PA      | $3092691.51   | 0.31%             | 2039-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE FL TRANSIT SYSTEM                                   | MIAMI DADE CNTY FL TRANSIT SAL MIATRN 07/44 FIXED 4                      | CUSIP: 59334PGP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $975078.30    | 0.10%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000RHP4<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   3480080 | PA      | $3474802.32   | 0.35%             | 2028-04-01      | Fixed         | 1.22%                 | No            |                  3 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NEW YORK CITY NY TRANSITIONAL NYCGEN 05/45 FIXED 4                       | CUSIP: 64971XQM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9375000 | PA      | $8902004.06   | 0.89%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC MULTIFAMILY VRD CERTIFICATES                                       | FEDERAL HOME LOAN MTGE CORP MF FEDMFH 01/43 ADJUSTABLE VAR               | CUSIP: 31350ADW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5666222 | PA      | $5902363.15   | 0.59%             | 2043-01-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                                  | MUNI ELEC AUTH OF GEORGIA MELPWR 01/37 FIXED 5                           | CUSIP: 6262072N3<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    850000 | PA      | $868231.57    | 0.09%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NY CITY TRANS FIN-F-1                                                    | CUSIP: 64972JC63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9420000 | PA      | $9799920.85   | 0.98%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MILITARY INSTALLATION DEVELOPMENT AUTHORITY                              | MILITARY INSTALLATION DEV AUTH MILDEV 06/36 FIXED 4                      | CUSIP: 599772AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $964968.90    | 0.10%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA                                                     | DIST OF COLUMBIA REVENUE DISREV 08/36 FIXED 5.5                          | CUSIP: 25483VA53<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $2050151.94   | 0.21%             | 2036-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTY OF JEFFERSON AL SEWER REVENUE                                     | JEFFERSON CNTY AL SWR REVENUE JEFFERSON CO WARRANTS                      | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10353969.00  | 1.04%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000QPK8<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   4372882 | PA      | $4366486.14   | 0.44%             | 2028-04-01      | Fixed         | 1.43%                 | No            |                  3 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                       | NEW YORK ST DORM AUTH ST PERSO NYSGEN 02/47 FIXED 4                      | CUSIP: 64990KFM0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5965000 | PA      | $5299493.90   | 0.53%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA ST PUBLIC FACS AUTHL LASFAC 07/41 FIXED 5                      | CUSIP: 54639TDM1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1184636.75   | 0.12%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY HOSPITAL AUTHORITY/GA                                     | FAYETTE CNTY GA HOSP AUTH REVE FAYMED 07/46 FIXED 5                      | CUSIP: 31222TAS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10012182.00  | 1.01%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLIVIAN                                                                 | INLIVIAN NC MF REVENUE INLMFH 02/43 FIXED 5.05                           | CUSIP: 45753CAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2088317.20   | 0.21%             | 2043-02-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTHORITY                                                   | M S R CA ENERGY AUTH GAS REVEN MSRPWR 11/39 FIXED OID 6.5                | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $4448890.13   | 0.45%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY INDL DEV AGY                                              | ESC NASSAU CNTY N Y IN 01/58 5                                           | CUSIP: 631ESCAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4402214 | PA      | $61560.25     | 0.01%             | 2058-01-01      | Variable      | 5.00%                 | No            |                  3 | On Loan: No      |
| SAN ANTONIO PUBLIC FACILITIES CORP                                       | SAN ANTONIO TX PUB FACS CORP L SANFAC 09/42 FIXED OID 4                  | CUSIP: 796334AS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9422987.00   | 0.95%             | 2042-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                                  | MUNI ELEC AUTH OF GA MELPWR 07/52 FIXED 5                                | CUSIP: 62620HEL2<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021325.40   | 0.20%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF KINGSPORT TENNESSEE      | THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF KINGSPORT TENNESSEE      | CUSIP: BA000S8T4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    988500 | PA      | $988500.00    | 0.10%             | 2027-06-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| ASHEVILLE HOUSING AUTHORITY                                              | ASHEVILLE HOUSING AUTHORITY                                              | CUSIP: BA000LSQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.35%             | 2043-01-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                 | NATIONAL FIN AUTH NH MUNI CTFS NFADEV 01/41 ADJUST OID VAR               | CUSIP: 63607WBD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2576453 | PA      | $2495669.34   | 0.25%             | 2041-01-20      | Variable      | 3.92%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 11/38 FIXED 5                          | CUSIP: 74442PJ97<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $636529.50    | 0.06%             | 2038-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTHORITY                                               | MICHIGAN ST FIN AUTH LTD OBLIG MISFIN 09/50 FIXED 5                      | CUSIP: 594479FT9<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    300000 | PA      | $219421.08    | 0.02%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY 2024-ML26                                        | FREDDIE MAC MULTIFAMILY FRETE 2024 ML26 B                                | CUSIP: 35834CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   5200000 | PA      | $3460487.94   | 0.35%             | 2039-01-25      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP HSG DEV                                        | MARYLAND ST ECON DEV CORP STUD MDSDEV 07/40 FIXED 4                      | CUSIP: 57420VRK1<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $932828.50    | 0.09%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                               | ILLINOIS ST FIN AUTH REVENUE ILSGEN 02/37 FIXED OID 5                    | CUSIP: 45204EA65<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   3683047 | PA      | $110491.41    | 0.01%             | 2037-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY                               | SOUTH DAKOTA ST HSG DEV AUTH SDSHSG 11/45 FIXED OID 4.5                  | CUSIP: 83756LBQ7<br>LEI: 549300G853EK61667C18 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2078707.89   | 0.21%             | 2045-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MEDFORD ORE HOSP FACS AUTH REV                                           | MEDFORD OR HOSP FACS AUTH REVE MFDMED 08/39 FIXED 4                      | CUSIP: 584283GY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3545000 | PA      | $3409272.94   | 0.34%             | 2039-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC ENERGY AUTHORITY OF KENTUCKY INC                                  | KENTUCKY ST PUBLIC ENERGY AUTH KYSPWR 05/36 FIXED 5                      | CUSIP: 74440DGL2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7373425.50   | 0.74%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE THRUWAY AUTHORITY                                         | NEW YORK ST THRUWAY AUTH PERSO NYSTRN 03/47 FIXED 4                      | CUSIP: 650028XH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9375000 | PA      | $8528178.75   | 0.86%             | 2047-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY                          | KENTUCKY ST ECON DEV FIN AUTH KYSDEV 08/49 FIXED 5                       | CUSIP: 49126PGX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1220385.89   | 0.12%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000PMJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3867750 | PA      | $3860906.87   | 0.39%             | 2028-04-01      | Fixed         | 1.37%                 | No            |                  3 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                              | OHIO ST HSG FIN AGY RSDL MTGE OHSHSG 09/45 FIXED 4.55                    | CUSIP: 67756UCG1<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |  10650000 | PA      | $10563278.12  | 1.06%             | 2045-09-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                                  | MUNI ELEC AUTH OF GEORGIA MELPWR 01/38 FIXED 5                           | CUSIP: 6262072P8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1529048.10   | 0.15%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST REGIONAL MANAGEMENT DISTRICT                                   | SOUTHEAST REGL MGMT DIST TX SERGEN 04/49 FIXED OID 4.25                  | CUSIP: 841493DB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1068058.63   | 0.11%             | 2049-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHIA PA AIRPORT REVENUE                                  | PHILADELPHIA PA ARPT REVENUE PHIAPT 07/47 FIXED 5                        | CUSIP: 717817UM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9002820.60   | 0.90%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAZORIA COUNTY INDUSTRIAL DEVELOPMENT CORP                              | BRAZORIA CNTY TX INDL DEV CORP BZIFAC 06/43 FIXED 12                     | CUSIP: 10604PAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2930519 | PA      | $146525.95    | 0.01%             | 2043-06-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| SARASOTA COUNTY PUBLIC HOSPITAL DISTRICT                                 | SARASOTA CNTY FL PUBLIC HOSP D SARMED 07/41 FIXED 5                      | CUSIP: 803301DJ6<br>LEI: 549300JY4SF4DU1YDF85 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10185333.00  | 1.02%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORPORATION I                 | TEXAS ST MUNI GAS ACQUISITION TXSUTL 12/26 FIXED 5.25                    | CUSIP: 88256CAT6<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152418.93    | 0.02%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI STUDENT HSG PUBFIN 07/65 FIXED 5.25                   | CUSIP: 74439YGX3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15007437.00  | 1.51%             | 2065-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                    | FED HM LN PC POOL WE6084 FR 02/40 FIXED 4.9                              | CUSIP: 3132YBXM3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1967545 | PA      | $2071233.40   | 0.21%             | 2040-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINANCIAL CORPORATION                                         | SALT VERDE AZ FINANCIAL CORP S SLTPWR 12/37 FIXED OID 5                  | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |  34000000 | PA      | $35908865.40  | 3.61%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS WATER DEVELOPMENT BOARD                                            | TEXAS WTR DEV BRD REVENUE TXSWTR 10/48 FIXED 4.875                       | CUSIP: 88285ADS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3261589.12   | 0.33%             | 2048-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HOUSING FIN AGY MTG REV                                        | LOUISIANA HOUSING FIN AGY MTG REV                                        | CUSIP: BA000SRY2<br>LEI: 549300VL35TBE7RSJH61 | Long             | ABS-MBS          | CORP              | US        |   5880000 | PA      | $5868240.00   | 0.59%             | 2028-06-01      | Fixed         | 1.62%                 | No            |                  3 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI HLTHCARE SY PUBMED 10/52 FIXED 5                      | CUSIP: 74447GAB6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003219.00   | 0.20%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                   | IOWA ST FIN AUTH MIDWSTRN DISA IASGEN 12/50 ADJUSTABLE VAR               | CUSIP: 46246SAV7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |  10200000 | PA      | $11495862.06  | 1.15%             | 2050-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY                           | NEW JERSEY ST TRANSPRTN TRUST NJSTRN 12/36 FIXED 5                       | CUSIP: 6461364H1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1561283.25   | 0.16%             | 2036-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORPORATION                                     | SALES TAX SECURITIZATION CORP STSGEN 01/48 FIXED 4                       | CUSIP: 79467BBL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2370800.03   | 0.24%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF KINGSPORT TENNESSEE      | THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF KINGSPORT TENNESSEE      | CUSIP: BA000S8X5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2181470 | PA      | $2181470.00   | 0.22%             | 2027-06-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY                           | NEW JERSEY ST TRANSPRTN TRUST NJSTRN 06/43 FIXED 5.25                    | CUSIP: 6461364X6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5166940.00   | 0.52%             | 2043-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTHORITY FOR COLORADO ENERGY                                     | PUBLIC AUTH FOR COLORADO ST EN PUBUTL 11/38 FIXED OID 6.5                | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   2430000 | PA      | $2876987.32   | 0.29%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI LTD OBLIG G PUBFIN 08/31 FIXED OID 6.75               | CUSIP: 74446EAB2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $700000.00    | 0.07%             | 2031-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MICHIGAN TOBACCO SETTLEMENT FINANCE AUTHORITY                            | MICHIGAN ST TOBACCO SETTLEMENT MISGEN 06/58 ZEROCPNOID 0                 | CUSIP: 594751AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  52500000 | PA      | $1154480.25   | 0.12%             | 2058-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                   | PUERTO RICO SALES TAX FING COR PRCGEN 07/51 ZEROCPNOID 0                 | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  76900000 | PA      | $19711261.77  | 1.98%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ORLANDO FL                                                       | ORLANDO-REV-B                                                            | CUSIP: 68641HPP3<br>LEI: G8GZFWRIKS3AFD6AWU52 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15478200.00  | 1.55%             | 2051-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                   | OHIO ST AIR QUALITY DEV AUTH E OHSDEV 07/49 FIXED 5                      | CUSIP: 67754AAF1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4533835.00   | 0.46%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA                    | MONTGOMERY CNTY PA INDL DEV AU MONDEV 10/34 ADJUSTABLE VAR               | CUSIP: 61361TAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3076829.10   | 0.31%             | 2034-10-01      | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF EDUCATION                                               | CHICAGO IL BRD OF EDU CHIEDU 12/36 FIXED 5                               | CUSIP: 167505TJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3770000 | PA      | $3640109.55   | 0.37%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONONGALIA COUNTY COMMISSION EXCISE TAX DISTRICT                         | MONONGALIA CNTY WV COMMISSION MNGDEV 06/37 FIXED OID 5.5                 | CUSIP: 61022CAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4040412.40   | 0.41%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000PYN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2745599 | PA      | $2745598.81   | 0.28%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CITY OF SOUTH MIAMI HEALTH FACILITIES AUTHORITY INC                      | S MIAMI FL HLTH FACS AUTH SMIMED 08/47 FIXED 4                           | CUSIP: 838810EF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3279981.75   | 0.33%             | 2047-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE SEAPORT DEPARTMENT                                  | MIAMI DADE CNTY FL SEAPORT REV MDCTRN 10/47 FIXED 5                      | CUSIP: 59335KFA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7250000 | PA      | $7332598.53   | 0.74%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY                           | BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/57 ZEROCPNOID 0                  | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  82900000 | PA      | $6063173.36   | 0.61%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                              | ILLINOIS ST ILS 09/42 FIXED 5                                            | CUSIP: 452153PC7<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2502521.04   | 0.25%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST PAUL MINN HSG & REDV AUTH                                             | SAINT PAUL MN HSG   REDEV AUTH STPMED 11/47 FIXED 5                      | CUSIP: 792909FM0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1545400.50   | 0.16%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEVELOPMENT FINANCE CORPORATION                                  | FLORIDA ST DEV FIN CORP FLSDEV 07/44 FIXED 5                             | CUSIP: 340618DR5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1167763.32   | 0.12%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE HIGHER ED & HEALTH                                         | NEW HAMPSHIRE ST HLTH   EDU FA NHSMED 08/55 FIXED OID 5                  | CUSIP: 64461XMG7<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5009684.00   | 0.50%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA                                                     | DIST OF COLUMBIA REVENUE DISREV 02/36 FIXED 5.5                          | CUSIP: 25483VA46<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1625000 | PA      | $1840869.23   | 0.18%             | 2036-02-29      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY ML CERTIFICATES                                  | FREDDIE MAC STRUCTURED PASS TH FMPGEN 04/42 ADJUSTABLE VAR               | CUSIP: 3137HDJL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |  11111837 | PA      | $11653064.12  | 1.17%             | 2042-04-25      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICES AUTHORITY (AKA: SANTEE COOPER)            | SOUTH CAROLINA ST PUBLIC SVC A SCSUTL 12/50 FIXED 5.25                   | CUSIP: 8371515T2<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   6700000 | PA      | $7033962.17   | 0.71%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP HSG DEV                                        | MARYLAND ST ECON DEV CORP STUD MDSDEV 07/50 FIXED 4.25                   | CUSIP: 57420VRN5<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1207886.82   | 0.12%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COOK COUNTY SCHOOL DISTRICT NO 28                                        | COOK CNTY SCH DIST  28 IL COKSCD 12/50 FIXED OID 5                       | CUSIP: 213381AF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2585000 | PA      | $2606613.19   | 0.26%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK                          | INDIANAPOLIS IN LOCAL PUBLIC I 03/53 6                                   | CUSIP: 45528U6X4<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4632877.80   | 0.47%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTERNATIONAL AIRPORT AUTHORITY                            | GERALD R FORD INTERNATIONAL AR KENAPT 01/51 FIXED 5                      | CUSIP: 373695AZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2512129.00   | 0.25%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTHORITY                                               | MICHIGAN ST FIN AUTH LTD OBLIG MISFIN 09/40 FIXED 4.8                    | CUSIP: 594479FS1<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    185000 | PA      | $150479.72    | 0.02%             | 2040-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PIMA COUNTRY INDUSTRIAL DEVELOPMENT                                      | PIMA CNTY AZ INDL DEV AUTH EDU PIMDEV 07/55 FIXED OID 5                  | CUSIP: 72177MTP2<br>LEI: 549300QDTQ25545R4K19 | Long             | DBT              | MUN               | US        |   4700000 | PA      | $3760000.00   | 0.38%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES AUTHORITY              | CONNECTICUT ST HLTH   EDUCTNL CTSHGR 07/47 FIXED 5                       | CUSIP: 20775DTQ5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5680000 | PA      | $5790739.55   | 0.58%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY                                 | MASSACHUSETTS ST DEV FIN AGY R MASDEV 01/47 FIXED 5                      | CUSIP: 57584XD57<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4354356.15   | 0.44%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                               | ILLINOIS ST FIN AUTH REVENUE ILSGEN 05/43 FIXED 5                        | CUSIP: 45204EL97<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12221581.20  | 1.23%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLIVIAN                                                                 | FAIRHAVEN GLEN TAXABLE CONSTRUCT                                         | CUSIP: BA00061Z5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8480555 | PA      | $8464126.78   | 0.85%             | 2027-11-01      | Floating      | 7.00%                 | No            |                  3 | On Loan: No      |
| BALDWIN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                          | BALDWIN CNTY AL INDL DEV AUTH BLWPOL 06/55 ADJUSTABLE VAR                | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3856233.16   | 0.39%             | 2055-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                 | ARIZONA ST INDL DEV AUTH SENIO AZSNUR 01/59 FIXED 5.125                  | CUSIP: 04052TDD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1829226 | PA      | $1379151.71   | 0.14%             | 2059-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| INDIANA HEALTH & EDUCATIONAL FACILITIES FINANCING AUTHORITY              | INDIANA ST HLTH   EDUCTNL FAC INSMED 11/46 FIXED 4                       | CUSIP: 454795FG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1823806.80   | 0.18%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY                    | PENNSYLVANIA ST ECON DEV FING PASDEV 12/62 FIXED 5.75                    | CUSIP: 70868YAZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13000000 | PA      | $13475207.20  | 1.35%             | 2062-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000QZT8<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   3538063 | PA      | $3533883.11   | 0.35%             | 2028-04-01      | Fixed         | 1.38%                 | No            |                  3 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP RHODE ISLAN                                 | TOBACCO SETTLEMENT FING CORP R TOBGEN 06/50 FIXED 5                      | CUSIP: 888809BG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9450000 | PA      | $9259753.55   | 0.93%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA ST PUBLIC FACS AUTHL LASFAC 07/44 FIXED 5                      | CUSIP: 54639TDQ2<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    750000 | PA      | $792666.68    | 0.08%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/MO                     | JEFFERSON CNTY MO INDL DEV AUT JFFMFH 02/43 FIXED 4.45                   | CUSIP: 473157BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7710000 | PA      | $7591460.29   | 0.76%             | 2043-02-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEVELOPMENT FINANCE CORPORATION                                  | FLORIDA ST DEV FIN CORP FLSDEV 07/47 FIXED 5.25                          | CUSIP: 340618DW4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   5295000 | PA      | $5203110.57   | 0.52%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORPORATION         | TARRANT CNTY TX CULTURAL EDU F TAREDU 11/50 ADJUSTABLE VAR               | CUSIP: 87638QSL4<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |  13000000 | PA      | $13000000.00  | 1.31%             | 2050-11-15      | Variable      | 1.45%                 | No            |                  2 | On Loan: No      |
| ANGELINA & NECHES RIVER AUTHORITY                                        | ANGELINA NECHES RIVER AUTH I ANGDEV 12/45 FIXED 7.5                      | CUSIP: 03469KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2585000 | PA      | $129250.00    | 0.01%             | 2045-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STATE OF MICHIGAN TRUNK LINE REVENUE                                     | MICHIGAN ST TRUNK LINE MISTRN 11/44 FIXED 4                              | CUSIP: 5946952Z0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4865208.00   | 0.49%             | 2044-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV                                        | PHILADELPHIA PA AUTH FOR INDL PHIMFH 12/58 FIXED 5.5                     | CUSIP: 717908AM9<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3051482.10   | 0.31%             | 2058-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NEW YORK CITY NY TRANSITIONAL NYCGEN 05/47 FIXED 5                       | CUSIP: 64972JMG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3629972.50   | 0.36%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EMPIRE STATE DEVELOPMENT CORPORATION                                     | NEW YORK ST URBAN DEV CORP SAL NYSFAC 03/45 FIXED 4                      | CUSIP: 64985TAQ4<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   4100000 | PA      | $3833824.72   | 0.38%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY ML CERTIFICATES                                  | FREDDIE MAC MULTIFAMILY FRETE 2023 ML15 A                                | CUSIP: 3137HA4G8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |   5830880 | PA      | $5783222.33   | 0.58%             | 2040-01-25      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTHORITY                                               | MICHIGAN ST FIN AUTH REVENUE MISFIN 02/50 FIXED 4                        | CUSIP: 59447TVE0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $6383778.00   | 0.64%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTHORITY                                                   | M S R CA ENERGY AUTH GAS REVEN MSRPWR 11/29 FIXED OID 6.125              | CUSIP: 55374SAG5<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1373660.24   | 0.14%             | 2029-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                          | CALIFORNIA CMNTY CHOICE FING A CCEDEV 10/55 ADJUSTABLE VAR               | CUSIP: 13013JGR1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2626300.56   | 0.26%             | 2055-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                   | CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                   | CUSIP: BA000Y564<br>LEI: 5493000UQOV6R4ZWS346 | Long             | ABS-MBS          | CORP              | US        |   3183421 | PA      | $3183420.56   | 0.32%             | 2043-09-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| HARVEST CROSSING METROPOLITAN DISTRICT NO 4                              | HARVEST CROSSING MET DIST 12/52 7.25                                     | CUSIP: 41753TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5965562.40   | 0.60%             | 2052-12-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| DENTON ESSENTIAL INVESTMENTS PFC                                         | BONNIE BRAE FIXED TERM LOAN                                              | CUSIP: BA000PLR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7800000 | PA      | $7907640.00   | 0.79%             | 2059-06-02      | Fixed         | 7.21%                 | No            |                  3 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                 | NATIONAL FIN AUTH NH MUNI CTFS NFADEV 07/36 FIXED OID 4.837              | CUSIP: 63607WAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10596622 | PA      | $10635219.14  | 1.07%             | 2036-07-20      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS HOUSING FINANCE AGENCY                                     | MASSACHUSETTS ST HSG FIN AGY H MASHSG 06/43 FIXED 5.125                  | CUSIP: 575930VL3<br>LEI: 549300NLJBK1VP6K2K81 | Long             | DBT              | MUN               | US        |    525000 | PA      | $525153.30    | 0.05%             | 2043-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE COUNTY HOUSING FINANCE AUTHORITY                              | MIAMI DADE CNTY FL HSG FIN AUT MIAMFH 03/46 FIXED 4.88                   | CUSIP: 593344BZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2488548.00   | 0.25%             | 2046-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA ST PUBLIC FACS AUTHL LASFAC 07/42 FIXED 5                      | CUSIP: 54639TDN9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1178355.64   | 0.12%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                     | COLORADO ST HLTH FACS AUTH REV COSMED 11/43 FIXED 4                      | CUSIP: 19648FJE5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  14910000 | PA      | $14118935.04  | 1.42%             | 2043-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX INDUSTRIAL DEVELOPMENT AUTHORITY                                 | FALCON PK DELAYED DRAW TERM LOAN 2                                       | CUSIP: 948TTQII6<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2200000.00   | 0.22%             | 2026-11-01      | Floating      | 7.67%                 | No            |                  3 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORPORATION                                 | TOBACCO SETTLEMENT FING CORP N TOBGEN 06/46 FIXED 5                      | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6315000 | PA      | $6150226.49   | 0.62%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY                                | NEW JERSEY ST ECON DEV AUTH EC NJSDEV 04/31 FIXED OID 5.75               | CUSIP: 64577HMH1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2056567.59   | 0.21%             | 2031-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000PYM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4506510 | PA      | $4498497.17   | 0.45%             | 2028-04-01      | Fixed         | 1.74%                 | No            |                  3 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY                             | WEST VIRGINIA ST ECON DEV AUTH WVSDEV 06/40 FIXED 4                      | CUSIP: 95639PCA9<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   9610000 | PA      | $9341535.04   | 0.94%             | 2040-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 11/37 FIXED 5                          | CUSIP: 74442PJ89<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $535310.05    | 0.05%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE OF LOUISIANA GASOLINE & FUELS TAX REVENUE                          | LOUISIANA ST GAS   FUELS TAX R LASGEN 05/45 FIXED 4                      | CUSIP: 546475SN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $14150673.00  | 1.42%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                                  | MUNI ELEC AUTH OF GEORGIA MELPWR 07/60 FIXED 5                           | CUSIP: 626207H49<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |  21000000 | PA      | $20456818.20  | 2.05%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                 | ARIZONA ST INDL DEV AUTH ECON AZSDEV 07/50 FIXED OID 7.75                | CUSIP: 040523AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4800000 | PA      | $112800.00    | 0.01%             | 2050-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NEW YORK CITY NY TRANSITIONAL NYCGEN 02/45 ADJUSTABLE VAR                | CUSIP: 64971WUK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.10%             | 2045-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| CROWFOOT VALLEY RANCH METROPOLITAN DISTRICT NO 2                         | CROWFOOT VLY RANCH MET DIST  2 CVRDEV 12/54 FIXED OID 4.375              | CUSIP: 22802CAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1785684.20   | 0.18%             | 2054-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| THE ATLANTA DEVELOPMENT AUTHORITY                                        | ATLANTA GA DEV AUTH ATLDEV 07/44 FIXED 5                                 | CUSIP: 04780NKD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3895000 | PA      | $3896843.50   | 0.39%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHILDRENS TRUST FD TOBACCO SETTLMNT                                      | THE CHILDRENS TRUST FUND PR TO CHIGEN 05/57 ZEROCPNOID 0                 | CUSIP: 16876QBM0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  35000000 | PA      | $1032115.00   | 0.10%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA PUB FACS AUTH REVENU LASFAC 05/46 FIXED 5                      | CUSIP: 546399CP9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5010383.50   | 0.50%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI PROJ REVENU PUBFIN 01/50 FIXED OID 7                  | CUSIP: 74444UAC6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   9500000 | PA      | $9999276.30   | 1.00%             | 2050-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY                          | CALIFORNIA CNTY CA TOBACCO SEC CASGEN 06/35 FIXED OID 6                  | CUSIP: 13016NBH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    255000 | PA      | $255433.32    | 0.03%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORPORATION                                           | BUILD NYC RESOURCE CORP NY REV BUIGEN 07/57 FIXED 5.25                   | CUSIP: 12008ETY2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3956480.00   | 0.40%             | 2057-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST REGIONAL MANAGEMENT DISTRICT                                   | SOUTHEAST REGL MGMT DIST TX SERGEN 04/53 FIXED OID 4.25                  | CUSIP: 841493DF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1534175.72   | 0.15%             | 2053-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH INTERNATIONAL AIRPORT                                  | DALLAS FORT WORTH TX INTERNATI DALAPT 11/42 FIXED 5.25                   | CUSIP: 23503CGD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4838822.10   | 0.49%             | 2042-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDUSTRIAL DEV                                           | MARICOPA CNTY AZ INDL DEV AUTH MARDEV 01/41 FIXED 4                      | CUSIP: 56682HCK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2872513.50   | 0.29%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI DEVELOPMENT FINANCE BOARD                                       | MISSOURI ST DEV FIN BRD MOSDEV 05/55 FIXED OID 5.25                      | CUSIP: 60636VDD6<br>LEI: 549300JD8BCNBV9D3830 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4106606.80   | 0.41%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF INDIANAPOLIS IN                                                  | INDIANAPOLIS IN MF HSG REVENUE INPMFH 07/56 ADJUSTABLE VAR               | CUSIP: 45528TBF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2080000 | PA      | $1989475.28   | 0.20%             | 2056-07-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| DALLAS FORT WORTH INTERNATIONAL AIRPORT                                  | DALLAS FORT WORTH TX INTERNATI DALAPT 11/39 FIXED 5                      | CUSIP: 23503CBH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4297585.20   | 0.43%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                          | CALIFORNIA CMNTY CHOICE FING A CCEDEV 01/55 ADJUSTABLE VAR               | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  11400000 | PA      | $11646297.00  | 1.17%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DISTRICT                                           | BLACK BELT ENERGY GAS DIST AL BBEUTL 10/35 FIXED 5                       | CUSIP: 09182TGM3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10424606.00  | 1.05%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO MUNICIPAL FACILITIES CORP                                    | SAN ANTONIO TX MUNI FACS CORP SANFAC 08/48 FIXED 4                       | CUSIP: 796312DE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5300000 | PA      | $4883029.39   | 0.49%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON STATE HOUSING FINANCE COMMISSION                              | WASHINGTON ST HSG FIN COMMISSI WASHSG 07/38 FIXED 5                      | CUSIP: 939783WQ5<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    825000 | PA      | $680256.72    | 0.07%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INLIVIAN                                                                 | FAIRHAVEN GLEN FIXED TAX EXEMPT CONSTRUCTIONA                            | CUSIP: BA00061X0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9400000 | PA      | $9373680.00   | 0.94%             | 2067-01-01      | Floating      | 6.26%                 | No            |                  3 | On Loan: No      |
| INLIVIAN                                                                 | FAIRHAVEN GLEN FIXED TAX EXEMPT CONSTRUCTIONB                            | CUSIP: BA00061T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.05%             | 2041-12-12      | Fixed         | 9.71%                 | No            |                  3 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP ENHANCED RECEIPT                         | FEDERAL HOME LOAN MORTGAGE COR FHL 11/35 FIXED 3.87                      | CUSIP: 3137ERAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    143480 | PA      | $129548.19    | 0.01%             | 2035-11-15      | Fixed         | 3.87%                 | Yes           |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                   | PUERTO RICO SALES TAX FING COR PRCGEN 07/58 FIXED 4.784                  | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  14660000 | PA      | $13556849.66  | 1.36%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| VIRGINIA HOUSING DEVELOPMENT AUTHORITY                                   | VIRGINIA ST HSG DEV AUTH VASHSG 10/48 FIXED 5.125                        | CUSIP: 92812WLN2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   2210000 | PA      | $2255731.09   | 0.23%             | 2048-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY                             | WEST VIRGINIA ST ECON DEV AUTH WVSDEV 01/55 ADJUSTABLE VAR               | CUSIP: 95648VBU2<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |   4900000 | PA      | $5327342.72   | 0.53%             | 2055-01-01      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                              | ILLINOIS ST ILS 05/41 FIXED 5                                            | CUSIP: 452152Y62<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3040183.80   | 0.31%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTRY OF MONTGOMERY                                                    | MONTGOMERY CNTY OH HOSP REVENU MONMED 08/46 FIXED 4                      | CUSIP: 613520PB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4097457.90   | 0.41%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                   | CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                   | CUSIP: BA000Y5B3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | ABS-MBS          | CORP              | US        |   5800000 | PA      | $5797249.93   | 0.58%             | 2028-09-01      | Fixed         | 0.42%                 | No            |                  3 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                     | COLORADO ST HLTH FACS AUTH REV COSMED 08/49 FIXED 4                      | CUSIP: 19648FKT0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $6901073.60   | 0.69%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                   | Illinois Housing Development Authority                                   | CUSIP: BA000DPQ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2837859 | PA      | $2566560.02   | 0.26%             | 2040-10-01      | Fixed         | 4.28%                 | Yes           |                  3 | On Loan: No      |
| MARICOPA COUNTY SCHOOL DISTRICT NO 83-CARTWRIGHT ELEMENTARY              | MARICOPA CNTY AZ SCH DIST  83 MAREDU 10/44 FIXED 4                       | CUSIP: 567410BF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16320000 | PA      | $13959434.40  | 1.40%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO INTERNATIONAL CENTER METROPOLITAN DISTRICT NO 7                 | COLORADO INTL CTR MET DIST NO CICDEV 12/51 INT APROID VAR                | CUSIP: 19650TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3945000 | PA      | $3203257.94   | 0.32%             | 2051-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF SALT LAKE CITY UT AIRPORT REVENUE                                | SALT LAKE CITY UT ARPT REVENUE SALAPT 07/47 FIXED 5                      | CUSIP: 795576FY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8002507.20   | 0.80%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND COUNTY TEXAS PUBLIC FACILITY CORP                              | FORT BEND CO PUB FAC                                                     | CUSIP: 34687KAV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13500000 | PA      | $13866394.05  | 1.39%             | 2048-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORPORATION                                 | NEW YORK ST LIBERTY DEV CORP L NYCDEV 11/46 FIXED 2.875                  | CUSIP: 649519DV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7160000 | PA      | $5278626.94   | 0.53%             | 2046-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                     | COLORADO ST HLTH FACS AUTH REV COSMED 01/40 FIXED 4                      | CUSIP: 19648FMB7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9704729.00   | 0.97%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORPORATION I                 | TEXAS ST MUNI GAS ACQUISITION TXSUTL 12/26 FIXED OID 6.25                | CUSIP: 88256CEX3<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |   5510000 | PA      | $5641310.46   | 0.57%             | 2026-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FINANCE AUTHORITY                                               | ILLINOIS ST FIN AUTH REVENUE ILSGEN 11/34 FIXED 5                        | CUSIP: 45204FYL3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4918914.00   | 0.49%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                 | ARIZONA ST INDL DEV AUTH SENIO AZSNUR 01/59 INTERAPREC VAR               | CUSIP: 04052TDE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6556516 | PA      | $3400795.13   | 0.34%             | 2059-01-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA PUB FACS AUTH REVENU LASFAC 05/42 FIXED 5                      | CUSIP: 546399CN4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   7750000 | PA      | $7801011.28   | 0.78%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION                          | NEW YORK ST TRANSPRTN DEV CORP NYTTRN 06/54 FIXED 5                      | CUSIP: 650116HN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1784580.84   | 0.18%             | 2054-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FINANCE AUTHORITY                                               | MICHIGAN ST FIN AUTH REVENUE MISFIN 12/46 FIXED 5                        | CUSIP: 59447TV75<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   9700000 | PA      | $9767030.88   | 0.98%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENTON ESSENTIAL INVESTMENTS PUBLIC FACILITY CORP                        | DENTON ESSENTIAL INVESTMENTS P 01/59 6.697                               | CUSIP: 24881CAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5200000 | PA      | $5066880.00   | 0.51%             | 2059-01-01      | Fixed         | 6.70%                 | No            |                  3 | On Loan: No      |
| TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORPORATION         | TARRANT CNTY TX CULTURAL EDU F TAREDU 11/47 FIXED 6.75                   | CUSIP: 87638RJD0<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011494.60   | 0.20%             | 2047-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CENTRAL FLORIDA EXPRESSWAY AUTHORITY                                     | CENTRL FL EXPRESSWAY AUTH SR L ORLTRN 07/41 FIXED 4                      | CUSIP: 153476DC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6240000 | PA      | $6055051.39   | 0.61%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT NEW ORLEANS BOARD OF COMMISSIONERS                                  | PORT NEW ORLEANS LA BRD OF COM PNODEV 04/47 FIXED 5                      | CUSIP: 734782DU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4290000 | PA      | $4299635.77   | 0.43%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE COUNTY INDUSTRIAL DEVEL                                           | MOBILE CNTY AL INDL DEV AUTH S MOBPOL 06/54 FIXED 5                      | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4490000 | PA      | $4281144.96   | 0.43%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATION REVENUE              | MET WASHINGTON DC ARPTS AUTH A 10/40 5                                   | CUSIP: 592647MY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1854234.90   | 0.19%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI STATE HEALTH AND EDUCATION                                      | MISSOURI ST HLTH   EDUCTNL FAC MOSMED 02/39 FIXED 4                      | CUSIP: 60637APU0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    600000 | PA      | $584752.74    | 0.06%             | 2039-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA HOUSING FINANCE AUTHOR                                           | INDIANA ST HSG   CMNTY DEV AUT INSMFH 07/56 ADJUSTABLE VAR               | CUSIP: 45506CAP2<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   2080000 | PA      | $1982761.66   | 0.20%             | 2056-07-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS                        | TEXAS ST DEPT OF HSG   CMNTY A TXSSFH 01/56 FIXED 5.75                   | CUSIP: 882750D33<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |  12305000 | PA      | $13474306.00  | 1.35%             | 2056-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRIDGE AND TUNNEL AUTHORITY                                   | TRIBOROUGH BRIDGE A-1                                                    | CUSIP: 89602HJZ1<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   9750000 | PA      | $10308552.15  | 1.04%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF KISSIMMEE FL                                                     | KISSIMMEE FL CAPITAL IMPT REVE KISGEN 10/49 FIXED OID 4                  | CUSIP: 497813CM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $1902531.41   | 0.19%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO GOVT                                                         | PUERTO RICO CMWLTH PRC 07/41 FIXED 4                                     | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6393214.32   | 0.64%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 01/61 ZEROCPNOID 0                     | CUSIP: 74442PRQ0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  32090000 | PA      | $2559235.26   | 0.26%             | 2061-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF WARREN KY                                                      | WARREN CNTY KY HOSP REVENUE WARMED 04/49 FIXED 5.25                      | CUSIP: 934864CN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2583682.00   | 0.26%             | 2049-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARICOPA COUNTY INDUSTRIAL DEV                                           | MARICOPA CNTY AZ INDL DEV AUTH MARDEV 01/44 FIXED 4                      | CUSIP: 56682HCQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  21865000 | PA      | $20214406.78  | 2.03%             | 2044-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI STATE HEALTH AND EDUCATION                                      | MISSOURI ST HLTH   EDUCTNL FAC MOSMED 11/48 FIXED 4                      | CUSIP: 60637AMW9<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2675995.20   | 0.27%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE FL AVIATION REVENUE                                 | MIAMI DADE CNTY FL AVIATION RE MIATRN 10/34 FIXED 5                      | CUSIP: 59333P7L6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $665324.58    | 0.07%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                              | ILLINOIS ST ILS 05/48 FIXED 5.25                                         | CUSIP: 452153KF5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3829783.50   | 0.38%             | 2048-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TURNPIKE AUTHORITY                                        | NORTH CAROLINA ST TURNPIKE AUT 01/58 5                                   | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6503121.95   | 0.65%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                              | ILLINOIS ST ILS 05/37 FIXED OID 4.625                                    | CUSIP: 452152Y21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   6175000 | PA      | $6213320.82   | 0.62%             | 2037-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| COLUMBUS REGIONAL AIRPORT AUTHORITY                                      | COLUMBUS OH REGL ARPT AUTH REV COLAPT 01/36 FIXED 5                      | CUSIP: 199546CS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088988.50   | 0.11%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST REGIONAL MANAGEMENT DISTRICT                                   | SOUTHEAST REGL MGMT DIST TX SERGEN 04/46 FIXED OID 4.25                  | CUSIP: 841493CY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $943799.80    | 0.09%             | 2046-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE TOBACCO SECURITIZATION                                      | GOLDEN ST TOBACCO SECURITIZATI GLDGEN 06/66 ZEROCPNOID 0                 | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12500000 | PA      | $1252697.50   | 0.13%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP                      | NEW HOPE CULTURAL EDU FACS FIN NHPFAC 07/46 FIXED 5                      | CUSIP: 64542PAV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $981075.00    | 0.10%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THE ATLANTA DEVELOPMENT AUTHORITY                                        | ATLANTA GA DEV AUTH SENIOR HLT ATLMED 01/35 FIXED OID 6.75               | CUSIP: 04781GAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7100000 | PA      | $3195000.00   | 0.32%             | 2035-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS STATE TOLL HIGHWAY AUTHORITY                                    | ILLINOIS ST TOLL HIGHWAY AUTH ILSTRN 01/41 FIXED 5                       | CUSIP: 452252LX5<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |  12500000 | PA      | $12537041.25  | 1.26%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION                                           | MET PIER EXPOSITION AUTH IL MPNFAC 12/36 ZEROCPNOID 0                    | CUSIP: 592250EK6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1131347.18   | 0.11%             | 2036-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC MULTIFAMILY VRD CERTIFICATES                                       | FEDERAL HOME LOAN MTGE CORP MF FEDMFH 11/42 ADJUSTABLE VAR               | CUSIP: 31350ADR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10423128 | PA      | $10664936.96  | 1.07%             | 2042-11-25      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| CITY OF PHILADELPHIA PA AIRPORT REVENUE                                  | PHILADELPHIA PA ARPT REVENUE PHIAPT 07/51 FIXED 5                        | CUSIP: 717817XZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5008618.00   | 0.50%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HSG FIN AGY LTD OBL CASMFH 03/53 ADJUSTABLE VAR               | CUSIP: 13034DAJ3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   9700000 | PA      | $9805230.45   | 0.98%             | 2053-03-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY                          | BALDWIN CNTY AL INDL DEV AUTH BLWPOL 06/55 ADJUSTABLE VAR                | CUSIP: 05786PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100805.86   | 0.11%             | 2055-06-01      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| CLIFTON HIGHER EDUCATION FINAN                                           | CLIFTON TX HGR EDU FIN CORP ED CLIEDU 02/42 FIXED OID 4.375              | CUSIP: 187145VL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2191917.64   | 0.22%             | 2042-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CALHOUN COUNTY NAVIGATION INDUSTRIAL DEVELOPMENT AUTHORITY               | CALHOUN CNTY TX NAVIGATION IND CLHDEV 07/26 FIXED 3.625                  | CUSIP: 129729AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3813636.75   | 0.38%             | 2026-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE THRUWAY AUTHORITY                                         | NEW YORK ST THRUWAY AUTH GEN R NYSTRN 01/39 FIXED 4                      | CUSIP: 650010CB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8150000 | PA      | $7996435.26   | 0.80%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 11/50 FIXED 5.25                       | CUSIP: 74442PK95<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2527799.50   | 0.25%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| THIRD CREEK METROPOLITAN DISTRICT NO 1                                   | THIRD CREEK MET DIST  1 CO TCMFAC 12/51 FIXED 4.75                       | CUSIP: 88423EAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1275000 | PA      | $990680.10    | 0.10%             | 2051-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                   | CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                   | CUSIP: BA000Y580<br>LEI: 5493000UQOV6R4ZWS346 | Long             | ABS-MBS          | CORP              | US        |   2762627 | PA      | $2762627.00   | 0.28%             | 2028-09-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| LOWER COLORADO RIVER AUTHORITY EMPLOYEES UNITED C                        | LOWER COLORADO RIVER TX AUTH R LWCGEN 05/41 FIXED 5                      | CUSIP: 54811GR93<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5351068.50   | 0.54%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM CORDOVA UNIFIED SCHOOL DISTRICT                                   | FOLSOM CORDOVA CA UNIF SCH DIS FOLSCD 10/44 FIXED 4                      | CUSIP: 34440PBY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1745786.45   | 0.18%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA                                                     | DIST OF COLUMBIA REVENUE DISREV 02/37 FIXED 5.5                          | CUSIP: 25483VA61<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $2104096.39   | 0.21%             | 2037-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HUNTSVILLE PUBLIC BUILDING AUTHORITY                                     | HUNTSVILLE AL PUBLIC BLDG AUTH HUNFAC 02/47 FIXED 5                      | CUSIP: 447154FU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029610.80   | 0.10%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY                           | BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/55 FIXED 5                       | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13700000 | PA      | $11062750.00  | 1.11%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA ST PUBLIC FACS AUTHL LASFAC 07/43 FIXED 5                      | CUSIP: 54639TDP4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063980.20   | 0.11%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT STATE HEALTH & EDUCATIONAL FACILITIES AUTHORITY              | CONNECTICUT ST HLTH   EDUCTNL CTSHGR 07/57 ADJUSTABLE VAR                | CUSIP: 20775DL75<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |  15355000 | PA      | $15355000.00  | 1.54%             | 2057-07-01      | Variable      | 1.25%                 | No            |                  2 | On Loan: No      |
| DOMINION WATER & SANITATION DISTRICT                                     | DOMINION WTR   SANTN DIST CO R DOMWTR 12/52 FIXED 5.875                  | CUSIP: 25755AAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4723000 | PA      | $4825189.19   | 0.48%             | 2052-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LAMAR CONSOLIDATED INDEPENDENT SCHOOL DISTRICT                           | LAMAR TX CONSOL INDEP SCH DIST LAMSCD 02/48 FIXED OID 4                  | CUSIP: 513174H88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4537347.00   | 0.46%             | 2048-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EAST MONTGOMERY COUNTY IMPROVEMENT DISTRICT SALES TAX REVENUE            | E MONTGOMERY CNTY TX IMPT DIST EMYGEN 08/44 FIXED OID 4                  | CUSIP: 273735DV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1496816.96   | 0.15%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORPORATION                                 | LIBERTY DEV CORP NY REVENUE LBTDEV 10/37 FIXED 5.5                       | CUSIP: 531127CM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $5465494.64   | 0.55%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000Q611<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   2761595 | PA      | $2761595.00   | 0.28%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| INDIANA FINANCE AUTHORITY                                                | INDIANA ST FIN AUTH EXEMPT FAC INSGEN 03/39 FIXED OID 7                  | CUSIP: 45470DAA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   6115000 | PA      | $305750.00    | 0.03%             | 2039-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                       | NEW YORK ST DORM AUTH ST PERSO NYSGEN 02/47 FIXED 4                      | CUSIP: 64990KFL2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20379.79     | 0.00%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY 2024-ML25                                        | FREDDIE MAC MULTIFAMILY FRETE 2024 ML25 BCA                              | CUSIP: 30339BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   2600000 | PA      | $1735489.21   | 0.17%             | 2043-01-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF EDUCATION                                               | CHICAGO IL BRD OF EDU CHIEDU 12/50 FIXED OID 5.75                        | CUSIP: 167505ZM1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3800000 | PA      | $3802561.96   | 0.38%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EVERMAN INDEPENDENT SCHOOL DISTRICT                                      | EVERMAN TX INDEP SCH DIST EVESCD 02/49 FIXED OID 4                       | CUSIP: 300371W56<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3652740.40   | 0.37%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH COUNTY FLORIDA INDL DEV                                     | HILLSBOROUGH CNTY FL INDL DEVA HILMED 08/50 FIXED 4                      | CUSIP: 43233AFD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7150000 | PA      | $6045076.90   | 0.61%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BABCOCK RANCH COMMUNITY INDEPENDENT SPECIAL DISTRICT                     | BABCOCK RANCH CMNTY INDEP SPL BARGEN 05/42 FIXED 5                       | CUSIP: 05616KBR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1233527.64   | 0.12%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP                      | NEW HOPE CULTURAL ED FACS FIN NHPFAC 11/40 FIXED 5                       | CUSIP: 64542UHA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2095590.40   | 0.21%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORPORATION                                 | LIBERTY DEV CORP NY REVENUE LBTDEV 10/35 FIXED 5.25                      | CUSIP: 531127AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  21505000 | PA      | $24455208.59  | 2.46%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLUMBUS REGIONAL AIRPORT AUTHORITY                                      | COLUMBUS OH REGL ARPT AUTH REV COLAPT 01/38 FIXED 5                      | CUSIP: 199546CU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2361381.22   | 0.24%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ENERGY FINANCE DEVELOPMENT CORPORATION                          | NEW YORK ENERGY FIN DEV CORP NYEFAC 07/56 ADJUSTABLE VAR                 | CUSIP: 64947PAA4<br>LEI: 254900PRGXZMJ912RI65 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2860381.16   | 0.29%             | 2056-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY                                 | MASSACHUSETTS ST DEV FIN AGY H MASMED 10/37 FIXED OID 7.625              | CUSIP: 57585AAE0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    672885 | PA      | $6.73         | 0.00%             | 2037-10-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MISSOURI STATE HEALTH AND EDUCATION                                      | MISSOURI ST HLTH   EDUCTNL FAC MOSMED 02/37 FIXED 4                      | CUSIP: 60637APS5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    510000 | PA      | $510744.14    | 0.05%             | 2037-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PARISH OF ST JAMES LA                                                    | SAINT JAMES PARISH LA REVENUE STJGEN 10/40 FIXED 6.35                    | CUSIP: 790103AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $3030449.80   | 0.30%             | 2040-10-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| ST CLOUD MINN HEALTH CARE REV                                            | SAINT CLOUD MN HLTH CARE REVEN SUDMED 05/54 FIXED 5                      | CUSIP: 78916VEU0<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4021545.60   | 0.40%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP                      | NEW HOPE CULTURAL EDU FACS FIN NHPFAC 07/51 FIXED 5                      | CUSIP: 64542PAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $128250.00    | 0.01%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BEXAR COUNTY HOSPITAL DISTRICT                                           | BEXAR CNTY TX HOSP DIST BEXMED 02/43 FIXED 4                             | CUSIP: 088365GS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2332901.00   | 0.23%             | 2043-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HOSP R                                 | VIRGINIA ST SMALL BUSINESS FIN VASHGR 07/61 ZEROCPNOID 0                 | CUSIP: 92810PAY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  99000000 | PA      | $2819787.30   | 0.28%             | 2061-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TOB SECURIZATION CORP ALASKA                                    | NTHRN AK TOBACCO SECURITIZATIO NRTFAC 06/66 ZEROCPNOID 0                 | CUSIP: 66585VCB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19400000 | PA      | $2085759.96   | 0.21%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE                                | HOUSTON TX ARPT SYS REVENUE HOUAPT 07/36 FIXED 5.5                       | CUSIP: 442349HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054814.00   | 0.11%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITY OF RENO NV                                                          | RENO NV SALES TAX REVENUE RENGEN 07/58 ZEROCPNOID 0                      | CUSIP: 759861EK9<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |  45500000 | PA      | $5273891.35   | 0.53%             | 2058-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF GRAND FORKS                                                    | GRAND FORKS CNTY ND GRADEV 12/43 FIXED 7                                 | CUSIP: 38543PAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3740000 | PA      | $37.40        | 0.00%             | 2043-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY                                 | ARIZONA ST INDL DEV AUTH SENIO AZSNUR 01/59 FIXED 5.125                  | CUSIP: 04052TDC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1526402.96   | 0.15%             | 2059-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HOSP R                                 | VIRGINIA ST SMALL BUSINESS FIN VASMED 12/49 FIXED 4                      | CUSIP: 928105BZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11200000 | PA      | $9564414.72   | 0.96%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY                             | MICHIGAN ST HSG DEV AUTH RENTA MISHSG 10/45 FIXED 4.35                   | CUSIP: 59465MQ65<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   3840000 | PA      | $3839939.71   | 0.39%             | 2045-10-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NEW YORK CITY NY TRANSITIONAL NYCGEN 05/41 FIXED 4                       | CUSIP: 64971XLJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1086717.42   | 0.11%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZATION PUBLIC INFRASTRUCTURE DISTRICT                   | DOWNTOWN REVITALIZATION PUBLIC DTRFAC 06/43 FIXED 5.25                   | CUSIP: 26118TAT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2516868.61   | 0.25%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUFFOLK TOBACCO ASSET SECURITIZATION CORPORATION                         | SUFFOLK NY TOBACCO ASSET SECUR SFKSEC 06/50 FIXED 4                      | CUSIP: 864809CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4420000 | PA      | $3617337.72   | 0.36%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                       | NEW YORK ST DORM AUTH REVENUES NYSHGR 05/52 FIXED 5                      | CUSIP: 65000BNH7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2006991.40   | 0.20%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASHEVILLE HOUSING AUTHORITY                                              | ASHEVILLE HOUSING AUTHORITY                                              | CUSIP: BA000LT25<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    994895 | PA      | $994895.00    | 0.10%             | 2043-01-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| ROCHESTER CITY OF                                                        | ROCHESTER MN HLTH CARE FACS RE MNHOSP 11/64 ADJUSTABLE VAR               | CUSIP: 771902HN6<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   5975000 | PA      | $5975000.00   | 0.60%             | 2064-11-15      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF KINGSPORT TENNESSEE      | THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF KINGSPORT TENNESSEE      | CUSIP: BA000S8S6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5852487 | PA      | $5801570.42   | 0.58%             | 2042-12-01      | Fixed         | 6.20%                 | No            |                  3 | On Loan: No      |
| LOUISIANA PUBLIC FACILITIES AUTHORITY                                    | LOUISIANA ST PUBLIC FACS AUTHL LASFAC 07/45 FIXED 5                      | CUSIP: 54639TDR0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    375000 | PA      | $393050.33    | 0.04%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000RHM1<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   1848100 | PA      | $1848100.00   | 0.19%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| SALT VERDE FINANCIAL CORPORATION                                         | SALT VERDE AZ FINANCIAL CORP S SLTPWR 12/32 FIXED OID 5                  | CUSIP: 79575EAR9<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   4930000 | PA      | $5248244.32   | 0.53%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DULUTH HOUSING & REDEVELOPMENT                                           | MULTIFAMILY MORTGAGE BONDS MFMB 2025 16FN PT                             | CUSIP: 264469AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1395000 | PA      | $1461724.38   | 0.15%             | 2042-08-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA HOUSING FINANCE AGENCY                                          | OKLAHOMA HOUSING FINANCE AGENCY                                          | CUSIP: BA000WLM5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14335000 | PA      | $14319231.50  | 1.44%             | 2026-10-31      | Fixed         | 7.25%                 | No            |                  3 | On Loan: No      |
| ARLINGTON HIGHER EDUCATION FINANCE CORPORATION                           | ARLINGTON TX HGR EDU FIN CORP ARLEDU 06/45 FIXED OID 5.625               | CUSIP: 041807PU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2042297.80   | 0.21%             | 2045-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CITY OF FORT WORTH TX WATER & SEWER SYSTEM REVENUE                       | FORT WORTH TX WTR   SWR REVENU FTWUTL 02/49 FIXED 5                      | CUSIP: 3495155X0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4129652.80   | 0.41%             | 2049-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY 2024-ML27                                        | FREDDIE MAC MULTIFAMILY FRETE 2024 ML27 BUS                              | CUSIP: 35833XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | MUN               | US        |   2400000 | PA      | $1942908.96   | 0.20%             | 2042-01-25      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 11/36 FIXED 5                          | CUSIP: 74442PJ71<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $538253.45    | 0.05%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF UTAH UT                                                        | UTAH CNTY UT HOSP REVENUE UTSMED 05/47 FIXED 4                           | CUSIP: 917393BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2225427.50   | 0.22%             | 2047-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWFOOT VALLEY RANCH METROPOLITAN DISTRICT NO 2                         | CROWFOOT VLY RANCH MET DIST  2 CVRDEV 12/49 FIXED OID 4.25               | CUSIP: 22802CAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1803287.20   | 0.18%             | 2049-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY                 | MAINE HLTH   HGR EDUCTNL FACS MESMED 07/45 FIXED 4                       | CUSIP: 56042RYH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1846241.60   | 0.19%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                 | NATIONAL FIN AUTH NH MUNI CTFS NFADEV 11/42 ADJUSTABLE VAR               | CUSIP: 63607WBN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4273453 | PA      | $4105952.25   | 0.41%             | 2042-11-20      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000QPH5<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   2594067 | PA      | $2594066.99   | 0.26%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CHICAGO OHARE INTERNATIONAL AIRPORT                                      | CHICAGO IL O HARE INTERNATIONA CHITRN 01/47 FIXED 5                      | CUSIP: 167593F72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000801.00   | 0.50%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CNTY UTAH HOSP REV                                             | SALT LAKE CNTY UT HOSP REVENUE SLKMED 02/33 FIXED OID 5.125              | CUSIP: 795677AG8<br>LEI: 5493006VYRFL1AI6GT29 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7115882.90   | 0.71%             | 2033-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORPORATION                                 | TOBACCO SETTLEMENT FING CORP N TOBGEN 06/31 FIXED 5                      | CUSIP: 888808HG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2279356.42   | 0.23%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEISINGER AUTH PA HEALTH SYSTEM                                          | GEISINGER PA AUTH HLTH SYS REV GEIMED 02/47 FIXED 4                      | CUSIP: 368497HQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16310000 | PA      | $14277496.73  | 1.43%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| The Vermont Housing Finance Agency                                       | The Vermont Housing Finance Agency                                       | CUSIP: BA000V7J0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4397253 | PA      | $4296116.16   | 0.43%             | 2043-01-01      | Fixed         | 7.06%                 | No            |                  3 | On Loan: No      |
| PUERTO RICO GOVT                                                         | PUERTO RICO CMWLTH PRC 07/33 ZEROCPNOID 0                                | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   7250000 | PA      | $5269687.88   | 0.53%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                    | FED HM LN PC POOL WE5057 FR 01/40 FIXED 3.85                             | CUSIP: 3132YATN8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  11300000 | PA      | $10783223.09  | 1.08%             | 2040-01-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| LA VEGA INDEPENDENT SCHOOL DISTRICT                                      | LA VEGA TX INDEP SCH DIST LGASCD 02/49 OID 4                             | CUSIP: 505156QY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20940000 | PA      | $19122095.99  | 1.92%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION                          | NEW YORK ST TRANSPRTN DEV CORP NYTTRN 12/54 FIXED 5.25                   | CUSIP: 650116HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6200000 | PA      | $6239766.18   | 0.63%             | 2054-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COUNTY OF MIAMI-DADE FL WATER & SEWER SYSTEM REVENUE                     | MIAMI DADE CNTY FL WTR   SWR R MIAUTL 10/48 FIXED 4                      | CUSIP: 59334DLG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4543379.50   | 0.46%             | 2048-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION                          | NEW YORK ST TRANS 06/60 5.125                                            | CUSIP: 650116GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10500000 | PA      | $10438290.45  | 1.05%             | 2060-06-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| OHIO HOUSING FINANCE AGENCY                                              | OHIO ST HSG FIN AGY RSDL MTGE OHSHSG 09/44 FIXED 4.35                    | CUSIP: 67756Q6T9<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2180786.74   | 0.22%             | 2044-09-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CHICAGO OHARE INTERNATIONAL AIRPORT                                      | CHICAGO IL O HARE INTERNATIONA CHITRN 01/39 FIXED 4                      | CUSIP: 167593V58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3014722.20   | 0.30%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                                       | NEW YORK ST DORM AUTH ST PERSO NYSGEN 02/47 FIXED 4                      | CUSIP: 64990KAZ6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5094.95      | 0.00%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION                                           | MET PIER EXPOSITION AUTH IL MPNFAC 06/36 ZEROCPNOID 0                    | CUSIP: 592250EJ9<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $663266.40    | 0.07%             | 2036-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000PMM9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2184570 | PA      | $2184570.00   | 0.22%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| MASSACHUSETTS STATE                                                      | MASSACHUSETTS ST MAS 05/40 FIXED 4                                       | CUSIP: 57582RSK3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002510.20   | 0.20%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SENAC SOUTH METROPOLITAN DISTRICT NO 1                                   | SENAC SOUTH MET DIST  1 CO SESFAC 12/51 FIXED 5.25                       | CUSIP: 81685AAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1932680.55   | 0.19%             | 2051-12-01      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| CHICAGO OHARE INTERNATIONAL AIRPORT                                      | CHICAGO IL O HARE INTERNATIONA CHITRN 01/48 FIXED 5.25                   | CUSIP: 1675934R0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9530000 | PA      | $9686872.38   | 0.97%             | 2048-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                 | NATIONAL FIN AUTH NH MUNI CTFS NFADEV 02/41 ADJUSTABLE VAR               | CUSIP: 63607WBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3689883 | PA      | $3780017.08   | 0.38%             | 2041-02-20      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000QZR2<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   2330995 | PA      | $2330995.17   | 0.23%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| METROPOLITAN TRANSPORTATION AUTHORITY                                    | MET TRANSPRTN AUTH NY REVENUE MTATRN 11/55 FIXED 5.25                    | CUSIP: 59261AG50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2026570.00   | 0.20%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AM Bidco                                                                 | AM Bidco                                                                 | CUSIP: 958ADP902<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       247 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NEW YORK STATE THRUWAY AUTHORITY                                         | NEW YORK ST THRUWAY AUTH PERSO NYSTRN 03/40 FIXED 4                      | CUSIP: 650028XA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1466302.80   | 0.15%             | 2040-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUTHORITY                                                | INDIANA ST FIN AUTH HLTH SYS R INSMED 10/57 ADJUSTABLE VAR               | CUSIP: 45470YGG0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   9500000 | PA      | $10532239.60  | 1.06%             | 2057-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZATION PUBLIC INFRASTRUCTURE DISTRICT                   | DOWNTOWN REVITALIZATION PUBLIC DTRFAC 06/41 FIXED 5.25                   | CUSIP: 26118TAR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1935035.38   | 0.19%             | 2041-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IRONDALE PUBLIC BUILDING AUTHORITY                                       | IRONDALE AL PUBLIC BLDG AUTH L IRONDALE PUB BLDG                         | CUSIP: 463034AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6215000 | PA      | $5509151.88   | 0.55%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC                                              | MAIN STREET NATURAL GAS INC GA MAIUTL 05/55 ADJUSTABLE VAR               | CUSIP: 56035DJJ2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5248397.50   | 0.53%             | 2055-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                   | OHIO ST AIR QUALITY DEV AUTH OHSDEV 09/29 FIXED 3.25                     | CUSIP: 677525WB9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   3450000 | PA      | $3424458.27   | 0.34%             | 2029-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HIGHER ED & HLTH                                      | MONTGOMERY CNTY PA HGR EDU   H MONHGR 05/40 FIXED 4                      | CUSIP: 613603F87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1681284.85   | 0.17%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON HIGHER EDUCATION FINANCE CORPORATION                           | ARLINGTON TX HGR EDU FIN CORP ARLEDU 08/49 FIXED OID 4.125               | CUSIP: 041807LQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4601836.00   | 0.46%             | 2049-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                    | FED HM LN PC POOL WE6111 FR 01/40 FIXED 3.8                              | CUSIP: 3132YBYG5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  19589223 | PA      | $18689716.44  | 1.88%             | 2040-01-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                                  | MUNI ELEC AUTH OF GEORGIA MELPWR 01/49 FIXED 5                           | CUSIP: 626207X25<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999250.20   | 0.20%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHILDRENS TRUST FD TOBACCO SETTLMNT                                      | THE CHILDRENS TRUST FUND PR TO CHIGEN 05/57 ZEROCPNOID 0                 | CUSIP: 16876QBL2<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |  87000000 | PA      | $4033180.80   | 0.40%             | 2057-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 01/48 FIXED OID 6.375                  | CUSIP: 74442PJV8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   9500000 | PA      | $4275000.00   | 0.43%             | 2048-01-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HOUSING FIN AGY MTG REV                                        | LOUISIANA HOUSING FIN AGY MTG REV                                        | CUSIP: BA000SS05<br>LEI: 549300VL35TBE7RSJH61 | Long             | ABS-MBS          | CORP              | US        |    735000 | PA      | $735000.00    | 0.07%             | 2044-01-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTURE TAX SECURED REVENUE  | NY CITY TRANS FIN-F-1                                                    | CUSIP: 64972JC55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11525174.10  | 1.16%             | 2046-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUTHORITY                                                | INDIANA FIN AUTH MIDWESTERN DI INDGEN 11/30 FIXED 4.25                   | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   5650000 | PA      | $5797911.92   | 0.58%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN ANTONIO TX ELECTRIC & GAS SYSTEMS REVENUE                    | SAN ANTONIO-B-REF                                                        | CUSIP: 79625GKN2<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10441276.00  | 1.05%             | 2049-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION                                           | MET PIER EXPOSITION AUTH IL MPNFAC 12/51 ZEROCPNOID 0                    | CUSIP: 592250AR5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $2732927.00   | 0.27%             | 2051-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONTANA ST HEALTH FACS AUTH REV                                          | MONTANA ST FAC FIN AUTH REVENU MTSFIN 02/55 FIXED 5.5                    | CUSIP: 61204KPU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2757862.16   | 0.28%             | 2055-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 09/51 FIXED 4                          | CUSIP: 74442PTF2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2960000 | PA      | $2439408.82   | 0.24%             | 2051-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND PARKWAY TRANSPORTATION CORPORATION                                 | GRAND PARKWAY TRANSPRTN CORP T GPTTRN 10/49 FIXED 4                      | CUSIP: 38611TDQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4045000 | PA      | $3668410.90   | 0.37%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EP TUSCANY ZARAGOSA PFC                                                  | EP TUSCANY ZARAGOSA PFC TX EPTMFH 12/33 FIXED OID 4                      | CUSIP: 29414WAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15205000 | PA      | $15191573.99  | 1.53%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACILITIES AUTHORITY                                     | COLORADO ST HLTH FACS AUTH REV COSMED 12/55 FIXED 5.125                  | CUSIP: 19648FZK3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3399151.35   | 0.34%             | 2055-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                 | PUBLIC FIN AUTH WI REVENUE PUBGEN 11/35 FIXED 5                          | CUSIP: 74442PJ63<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $541247.20    | 0.05%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEVELOPMENT CORPORATION                                 | NEW YORK ST LIBERTY DEV CORP L NYCDEV 11/44 FIXED 5                      | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9250000 | PA      | $9250308.03   | 0.93%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEVELOPMENT BANK                                             | MISSISSIPPI DEV BK SPL OBLIG MSSDEV 06/50 FIXED OID 5                    | CUSIP: 60534XT55<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3836354.63   | 0.39%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA PUBLIC SERVICES AUTHORITY (AKA: SANTEE COOPER)            | SOUTH CAROLINA ST PUBLIC SVC A SCSUTL 12/48 FIXED 5                      | CUSIP: 8371516Q7<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3595619.65   | 0.36%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT                        | SOUTHEAST ENERGY AUTHORITY A C SEEPWR 01/56 ADJUSTABLE VAR               | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   5800000 | PA      | $5837241.80   | 0.59%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                        | CALIFORNIA HOUSING FINANCE AGENCY                                        | CUSIP: BA000Q637<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |   4900000 | PA      | $4891490.07   | 0.49%             | 2028-04-01      | Fixed         | 1.73%                 | No            |                  3 | On Loan: No      |
| MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA                                  | MUNI ELEC AUTH OF GEORGIA MELPWR 07/60 FIXED 5                           | CUSIP: 626207H23<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |  14680000 | PA      | $14509732.55  | 1.46%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA DEVELOPMENT FINANCE AUTHORITY                                   | OKLAHOMA ST DEV FIN AUTH HLTHS OKSMED 08/52 FIXED 5.5                    | CUSIP: 67884XCK1<br>LEI: 549300PXGPHUWC32DJ91 | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3550863.96   | 0.36%             | 2052-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEVELOPMENT FINANCE AUTHORITY                                   | ARKANSAS ST DEV FIN AUTH TOBAC ARSDEV 07/36 ZEROCPNOID 0                 | CUSIP: 04109HBF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $3543162.15   | 0.36%             | 2036-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-26

**Name of Applicant:** PIMCO Municipal Income Fund II

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer