# EDGAR Filing Document

**Accession Number:** 0000751656
**File Stem:** 0002071691-26-011430
**Filing Date:** 2026-5
**Character Count:** 89223
**Document Hash:** 52efde703d8dbc70c45f0db8451990c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-011430.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0002071691-26-011430

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000751656

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04096
- **FILM NUMBER:** 261018847

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

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

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

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

## Series and Classes Contracts Data

### MFS New York Municipal Bond Fund (Series ID: S000002522)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006959 | A            | MSNYX           |
| C000006960 | B            | MBNYX           |
| C000006961 | C            | MCNYX           |
| C000169759 | I            | MNYLX           |
| C000194228 | R6           | MPNYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

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

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

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

- **b. EDGAR series identifier (if any):** S000002522

- **c. LEI of Series:** VBDLXONWHCNFU9SKO405

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

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

- **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:** $187450368.71

**Total Liabilities:** $726654.39

**Net Assets:** $186723714.32

**Cash Not Reported:** $1.86

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -208.82378860 | **1-Year:** -4230.65366380 | **5-Year:** -23254.30476470 | **10-Year:** -73589.80578670 | **30-Year:** -35828.37504140

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

- **3-Month:** -109.70727700 | **1-Year:** -1302.41112090 | **5-Year:** -4168.89899310 | **10-Year:** -7032.26008300 | **30-Year:** -3184.91329920

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169759 | 0.55%                | 1.64%                | -2.23%               |
| Class ID C000194228 | 0.56%                | 1.64%                | -2.22%               |
| Class ID C000006961 | 0.44%                | 1.61%                | -2.31%               |
| Class ID C000006960 | 0.44%                | 1.51%                | -2.32%               |
| Class ID C000006959 | 0.50%                | 1.66%                | -2.25%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-445.10                 | $332425.46                                 |
| Month 2  | $-2061.87                | $2614133.93                                |
| Month 3  | $-150621.21              | $-4715573.17                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured                             | CUSIP: 64971XQM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1706952.42   | 0.91%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | New York State Thruway Authority, Series P                                                  | CUSIP: 6500092J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2092608.00   | 1.12%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                              | Monroe County Industrial Development Corp., Series BDS 2023A                                | CUSIP: 610758AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1992580.40   | 1.07%             | 2044-01-01      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                                    | CUSIP: 74446EAC0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    255000 | PA      | $229500.00    | 0.12%             | 2024-08-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2024                                             | CUSIP: 65000B7Y8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3665188.10   | 1.96%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2024 A                                           | CUSIP: 65000B4Z8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023437.50   | 0.55%             | 2056-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp.                                  | Hempstead Town Local Development Corp.                                                      | CUSIP: 424682LY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2100488.10   | 1.12%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                                           | CUSIP: 40065HDV9<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    300000 | PA      | $301482.27    | 0.16%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                    | Triborough Bridge & Tunnel Authority                                                        | CUSIP: 89602HAA5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1856325.60   | 0.99%             | 2046-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650116CW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1067878.53   | 0.57%             | 2036-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Rensselaer County Industrial Development Agency                         | Rensselaer County Industrial Development Agency                                             | CUSIP: 759921ET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $240442.56    | 0.13%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972EW21<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1338259.65   | 0.72%             | 2052-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                        | New York State Thruway Authority                                                            | CUSIP: 650010DX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2536715.25   | 1.36%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      4000 | PA      | $3574.47      | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Schenectady County Capital Resource Corp.                               | Schenectady County Capital Resource Corp., Series 2025 A                                    | CUSIP: 80641AAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519180.55    | 0.28%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency Homeowner Mortgage                                        | CUSIP: 6498834X0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $294727.37    | 0.16%             | 2048-10-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    942000 | PA      | $782987.76    | 0.42%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency Homeowner Mortgage Revenue            | State of New York Mortgage Agency Homeowner Mortgage, Series 258                            | CUSIP: 64988YWY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $974779.30    | 0.52%             | 2049-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                                | MFS Institutional Money Market Portfolio, Class A                                           | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |   3206476 | NS      | $3206476.17   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2024A                                     | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507860.15   | 0.81%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York City Industrial Development Agency                             | New York City Industrial Development Agency                                                 | CUSIP: 64972PAL8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   1660000 | PA      | $1661077.01   | 0.89%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                                    | Port of Beaumont Navigation District                                                        | CUSIP: 73360CAM6<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    255000 | PA      | $181312.73    | 0.10%             | 2041-01-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp., Series 2021                                                       | CUSIP: 12008ERL2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    320000 | PA      | $317789.31    | 0.17%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                              | Monroe County Industrial Development Corp., Series 2024                                     | CUSIP: 61075TXR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $661027.76    | 0.35%             | 2049-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| St Lawrence County Industrial Development Agency                        | St Lawrence County Industrial Development Agency                                            | CUSIP: 791078DK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198220.26    | 0.11%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Genesee County Funding Corp. (The)                                      | Genesee County Funding Corp. (The), Series 2025A                                            | CUSIP: 371669BE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510380.15   | 0.81%             | 2050-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Upper Mohawk Valley Regional Water Finance Authority                    | Upper Mohawk Valley Regional Water Finance Authority, Series 2025                           | CUSIP: 916091KH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $467920.25    | 0.25%             | 2052-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     17000 | PA      | $15275.13     | 0.01%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Syracuse Industrial Development Agency                                  | Syracuse Industrial Development Agency                                                      | CUSIP: 87172NBB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $573395.85    | 0.31%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Great Neck North Water Authority                                        | Great Neck North Water Authority                                                            | CUSIP: 391003DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1105862.87   | 0.59%             | 2044-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp., Series 2021                                                       | CUSIP: 12008ERP3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    400000 | PA      | $375817.56    | 0.20%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2023                                      | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035853.50   | 0.55%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                                | Village of Bridgeview                                                                       | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $574023.41    | 0.31%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Erie County Industrial Development Agency (The)                         | Erie County Industrial Development Agency (The), Series BDS 2023                            | CUSIP: 29508TAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1915812.39   | 1.03%             | 2041-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp., Series 2024 CL F                                   | CUSIP: 64966TGX6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513083.65    | 0.27%             | 2031-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Albany Capital Resource Corp.                                           | Albany Capital Resource Corp., Series 2025A                                                 | CUSIP: 012432ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4707821.70   | 2.52%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                         | New York City Municipal Water Finance Authority, Series FISCAL 2026 BB                      | CUSIP: 64972GS96<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040306.90   | 0.56%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972E2Z1<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008985.60   | 0.54%             | 2042-11-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Niagara Frontier Transportation Authority                               | Niagara Frontier Transportation Authority                                                   | CUSIP: 653544EE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $766031.40    | 0.41%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverhead Industrial Development Agency                                 | Riverhead Industrial Development Agency, Series MTEBS 2023                                  | CUSIP: 76876TAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1960184 | PA      | $1965062.66   | 1.05%             | 2041-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority, Series VV                                             | CUSIP: 74526YGW9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     30000 | PA      | $29861.10     | 0.02%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     63000 | PA      | $62754.05     | 0.03%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Buffalo Municipal Water Finance Authority                               | Buffalo Municipal Water Finance Authority, Series 2023A                                     | CUSIP: 119699PW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1419044.25   | 0.76%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp., Series 2024 D-2                                    | CUSIP: 64972KFP5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955941.60    | 0.51%             | 2049-11-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                      | New York Liberty Development Corp.                                                          | CUSIP: 649519EN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1484186.20   | 0.79%             | 2044-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2016 A                                    | CUSIP: 650116AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900690.75    | 0.48%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                        | California Health Facilities Financing Authority                                            | CUSIP: 13032UB49<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033484.20   | 0.55%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                                    | CUSIP: 12008ETX4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1994424.00   | 1.07%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                              | Monroe County Industrial Development Corp., Series 2022                                     | CUSIP: 610758AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615167 | PA      | $633999.15    | 0.34%             | 2040-11-01      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax            | Chicago Board of Education Dedicated Capital Improvement Tax, Series 2016                   | CUSIP: 167510AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $698926.05    | 0.37%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp., Series 2025                                                       | CUSIP: 12008QAG4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020980.00   | 0.55%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured, Series FISCAL 2026C        | CUSIP: 64972JYN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058778.20   | 0.57%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                | New Hampshire Business Finance Authority                                                    | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630444 | PA      | $634013.78    | 0.34%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972E3A5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $493996.50    | 0.26%             | 2047-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                               | Golden State Tobacco Securitization Corp.                                                   | CUSIP: 38122ND82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $452318.08    | 0.24%             | 2050-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2025                                             | CUSIP: 64985SJD6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013856.30   | 0.54%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                                     | CUSIP: 11943KBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300016.38    | 0.16%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Geneva Development Corp.                                                | Geneva Development Corp., Series 2026                                                       | CUSIP: 37217PCN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996912.00    | 0.53%             | 2056-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                                       | CUSIP: 64987JXQ9<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1209131.40   | 0.65%             | 2057-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| City of Yonkers NY                                                      | City of Yonkers                                                                             | CUSIP: 986082W76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $796241.55    | 0.43%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp.                           | New York State Environmental Facilities Corp.                                               | CUSIP: 649852AS9<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    750000 | PA      | $760484.70    | 0.41%             | 2050-09-01      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York, Series FISCAL 2026 D                                                      | CUSIP: 64966SRK4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2108841.60   | 1.13%             | 2047-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp., Series 2025A                                                      | CUSIP: 12008EWQ5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1816068.10   | 0.97%             | 2056-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650116BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000434.20   | 0.54%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Industrial Development Agency                        | Westchester County Industrial Development Agency, Series 2023                               | CUSIP: 95737QAG7<br>LEI: 549300YOPFLG4RJ5YO58 | Long             | DBT              | MUN               | US        |   1960000 | PA      | $1906373.03   | 1.02%             | 2046-06-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency Homeowner Mortgage                                        | CUSIP: 64988YAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $337773.34    | 0.18%             | 2039-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp.                              | Westchester County Local Development Corp., Series 2024                                     | CUSIP: 95737TFT8<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061380.00   | 0.57%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                                           | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    215000 | PA      | $226543.57    | 0.12%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                          | Buckeye Tobacco Settlement Financing Authority                                              | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $581865.54    | 0.31%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp.                              | Westchester County Local Development Corp., Series 2023                                     | CUSIP: 95737TFR2<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1585500.75   | 0.85%             | 2053-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Schenectady County Capital Resource Corp.                               | Schenectady County Capital Resource Corp., Series 2025 A                                    | CUSIP: 80641AAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1035665.70   | 0.55%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    184514 | PA      | $181793.38    | 0.10%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | Public Finance Authority                                                                    | CUSIP: 74446EAA4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    445000 | PA      | $324850.00    | 0.17%             | 2027-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Upper Mohawk Valley Regional Water Finance Authority                    | Upper Mohawk Valley Regional Water Finance Authority, Series 2025                           | CUSIP: 916091KG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $479948.55    | 0.26%             | 2048-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | New Jersey Transportation Trust Fund Authority                                              | CUSIP: 64613CCL0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    125000 | PA      | $145718.24    | 0.08%             | 2050-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tompkins County Development Corp.                                       | Tompkins County Development Corp.                                                           | CUSIP: 890090AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $915247.42    | 0.49%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Yonkers Industrial Development Agency                                   | Yonkers Industrial Development Agency                                                       | CUSIP: 986094BJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2106635.20   | 1.13%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency Homeowner Mortgage Revenue            | State of New York Mortgage Agency Homeowner Mortgage, Series 266                            | CUSIP: 64988YF51<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $961560.64    | 0.51%             | 2052-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Jefferson County Civic Facility Development Corp.                       | Jefferson County Civic Facility Development Corp.                                           | CUSIP: 47325RAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1963418.60   | 1.05%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured, Series FISCAL 2026 B       | CUSIP: 64972JXS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2200505.29   | 1.18%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2024                                      | CUSIP: 650116HR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1818222.11   | 0.97%             | 2060-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | Port Authority of New York & New Jersey                                                     | CUSIP: 73358W5U4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2115887.54   | 1.13%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2025A                                            | CUSIP: 64990AYB5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050147.60   | 1.10%             | 2055-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2023                                      | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1576164.60   | 0.84%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                                          | Tennergy Corp.                                                                              | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    705000 | PA      | $749428.40    | 0.40%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                          | Buckeye Tobacco Settlement Financing Authority                                              | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $141110.32    | 0.08%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                                     | CUSIP: 11943KBR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450035.51    | 0.24%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp.                              | Westchester County Local Development Corp., Series 2023                                     | CUSIP: 95737TFP6<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504571.10   | 0.81%             | 2051-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2023                                      | CUSIP: 650116GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1984620.60   | 1.06%             | 2060-06-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                      | New York Liberty Development Corp.                                                          | CUSIP: 649519DC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1491904.95   | 0.80%             | 2040-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1426395.75   | 0.76%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2024A                                     | CUSIP: 650116HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2011232.80   | 1.08%             | 2054-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Glen Cove Local Economic Assistance Corp.                               | Glen Cove Local Economic Assistance Corp.                                                   | CUSIP: 377450AE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1780000 | PA      | $531899.24    | 0.28%             | 2045-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                     | City of New York                                                                            | CUSIP: 64966QFU9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1446862.56   | 0.77%             | 2044-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    635000 | PA      | $586294.29    | 0.31%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | Guam Government Waterworks Authority                                                        | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    345000 | PA      | $348959.19    | 0.19%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                    | Triborough Bridge & Tunnel Authority, Series 2024 B SUB B-1                                 | CUSIP: 89602HHH3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2084655.40   | 1.12%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Albany County Capital Resource Corp.                                    | Albany County Capital Resource Corp., Series 2025                                           | CUSIP: 012124AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005804.60   | 1.07%             | 2050-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                    | Triborough Bridge & Tunnel Authority, Series 2025 A                                         | CUSIP: 896032BB4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2081755.40   | 1.11%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                                    | CUSIP: 12008ESY3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    550000 | PA      | $549607.47    | 0.29%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                                          | CUSIP: 64990FYT5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $886569.01    | 0.47%             | 2050-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                                       | CUSIP: 59261AJ81<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1084296.60   | 0.58%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Battery Park City Authority                                             | Battery Park City Authority, Series 2023 A                                                  | CUSIP: 07133AJM5<br>LEI: 549300RF3SFDOWRHVM56 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2051843.40   | 1.10%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp., Series 2024 D-1                                    | CUSIP: 64972KFN0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $480704.15    | 0.26%             | 2054-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                          | Black Belt Energy Gas District                                                              | CUSIP: 09182TAW7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    525000 | PA      | $527833.06    | 0.28%             | 2052-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TSASC, Inc. NY                                                          | TSASC, Inc.                                                                                 | CUSIP: 898526FE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011543.80   | 0.54%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    904000 | PA      | $694600.97    | 0.37%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                                       | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1218943.19   | 0.65%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                          | Black Belt Energy Gas District                                                              | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1327075.95   | 0.71%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp.                                 | Dutchess County Local Development Corp.                                                     | CUSIP: 267045GW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1489790.21   | 0.80%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                                     | CUSIP: 11943KCX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010884.80   | 0.54%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Syracuse Industrial Development Agency                                  | Syracuse Industrial Development Agency                                                      | CUSIP: 87172NBD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $752897.50    | 0.40%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | Puerto Rico Electric Power Authority                                                        | CUSIP: 74526QYY2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    250000 | PA      | $165937.50    | 0.09%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp., Series 2025                                                       | CUSIP: 12008EVW3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $928387.00    | 0.50%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     83850 | PA      | $80959.34     | 0.04%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Albany Capital Resource Corp.                                           | Albany Capital Resource Corp.                                                               | CUSIP: 012432BV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125051.41    | 0.07%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    416000 | PA      | $145760.28    | 0.08%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    114004 | PA      | $105501.46    | 0.06%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                         | New York City Municipal Water Finance Authority, Series FISCAL2025AA SUB AA1                | CUSIP: 64972GK37<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2088564.00   | 1.12%             | 2053-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    451000 | PA      | $444464.11    | 0.24%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972E3B3<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $494626.55    | 0.26%             | 2052-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp. NY                           | Monroe County Industrial Development Corp.                                                  | CUSIP: 61075TRT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1940687.00   | 1.04%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                                    | CUSIP: 12008ETA4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    550000 | PA      | $503509.05    | 0.27%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $369476.08    | 0.20%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                          | Tender Option Bond Trust Receipts                                                           | CUSIP: 88035TFS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $547269.30    | 0.29%             | 2055-06-15      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2025C                                            | CUSIP: 64990KJC8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $527538.15    | 0.28%             | 2050-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                                       | CUSIP: 59261AE37<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1830000 | PA      | $1544864.04   | 0.83%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1582000 | PA      | $1503923.71   | 0.81%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority, Series 2024A                                         | CUSIP: 59261A2H9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1795360.00   | 0.96%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                                       | CUSIP: 64987JYS4<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    350000 | PA      | $356193.78    | 0.19%             | 2042-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                                       | CUSIP: 64987JYT2<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998630.20    | 0.53%             | 2047-11-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax            | Chicago Board of Education Dedicated Capital Improvement Tax                                | CUSIP: 167510BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $340026.47    | 0.18%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                                           | CUSIP: 40065HDU1<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    100000 | PA      | $100580.45    | 0.05%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2025A                                            | CUSIP: 64985SNH2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1583041.50   | 0.85%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                                       | Territory of Guam                                                                           | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    185000 | PA      | $176014.03    | 0.09%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650110AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $893991.70    | 0.48%             | 2046-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                                   | Toll Road Investors Partnership II LP                                                       | CUSIP: 88948ABM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    466443 | PA      | $160339.62    | 0.09%             | 2043-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                                       | CUSIP: 64987DGV0<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    340000 | PA      | $331989.60    | 0.18%             | 2038-11-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    139873 | PA      | $101510.40    | 0.05%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972ECZ0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1638224.88   | 0.88%             | 2039-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Brookhaven Local Development Corp.                                      | Brookhaven Local Development Corp.                                                          | CUSIP: 113168AY4<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007278.10   | 0.54%             | 2036-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972C4U4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2323333.78   | 1.24%             | 2048-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency Homeowner Mortgage Revenue            | State of New York Mortgage Agency Homeowner Mortgage, Series 264                            | CUSIP: 64988YB48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963443.40    | 0.52%             | 2054-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                                     | CUSIP: 11943KCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750544.28    | 0.40%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                            | Mississippi Development Bank                                                                | CUSIP: 60534TQH1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101737.00    | 0.05%             | 2040-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                                    | CUSIP: 12008EBB1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750135.38    | 0.40%             | 2043-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp., Series 2024 CL D                                   | CUSIP: 64966TGV0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019329.90   | 0.55%             | 2031-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                              | Monroe County Industrial Development Corp., Series 2024                                     | CUSIP: 61075TXS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $869810.02    | 0.47%             | 2054-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                                          | CUSIP: 64990GZR6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1265977.80   | 0.68%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650116DV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1397617.80   | 0.75%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp.                                   | Oneida County Local Development Corp.                                                       | CUSIP: 682440CN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $809675.33    | 0.43%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp.                 | Buffalo & Erie County Industrial Land Development Corp.                                     | CUSIP: 11943KBU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $590021.77    | 0.32%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1396669.20   | 0.75%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                                    | CUSIP: 12008EHF6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    675000 | PA      | $675699.91    | 0.36%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency                                       | State of New York Mortgage Agency Homeowner Mortgage                                        | CUSIP: 6498834U6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $327920.95    | 0.18%             | 2033-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp.                                                   | CUSIP: 650116BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.20   | 0.54%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax            | Chicago Board of Education Dedicated Capital Improvement Tax                                | CUSIP: 167510BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $141680.32    | 0.08%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp.                                                | Build NYC Resource Corp.                                                                    | CUSIP: 12008ELT1<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    780000 | PA      | $766510.76    | 0.41%             | 2045-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Nassau County Local Economic Assistance Corp.                           | Nassau County Local Economic Assistance Corp.                                               | CUSIP: 63165CAC6<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $820113.40    | 0.44%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972EYU7<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1117092.11   | 0.60%             | 2041-11-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority                                                          | CUSIP: 65000BNG9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1766541.00   | 0.95%             | 2052-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | State of Illinois                                                                           | CUSIP: 4521526M8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    200000 | PA      | $209364.04    | 0.11%             | 2045-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                                 | New York City Housing Development Corp.                                                     | CUSIP: 64972EA74<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2235000 | PA      | $1581800.24   | 0.85%             | 2045-11-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                               | New York Transportation Development Corp., Series 2024 B                                    | CUSIP: 650116HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $970106.25    | 0.52%             | 2054-12-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Brookhaven Local Development Corp.                                      | Brookhaven Local Development Corp.                                                          | CUSIP: 113168BK3<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1806629.00   | 0.97%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    210000 | PA      | $206956.68    | 0.11%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp.                      | Matching Fund Special Purpose Securitization Corp.                                          | CUSIP: 57665NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |     90000 | PA      | $90466.19     | 0.05%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency Homeowner Mortgage Revenue            | State of New York Mortgage Agency Homeowner Mortgage, Series 258                            | CUSIP: 64988YWX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $991344.20    | 0.53%             | 2044-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                 | Puerto Rico Sales Tax Financing Corp. Sales Tax                                             | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    200000 | PA      | $186237.68    | 0.10%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Public Authority for Colorado Energy                                    | Public Authority for Colorado Energy                                                        | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1283317.82   | 0.69%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | Metropolitan Transportation Authority                                                       | CUSIP: 59261AA23<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3144475.39   | 1.68%             | 2052-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Hotel Development Financing Corp.                        | Virgin Islands Hotel Development Financing Corp., Series 2025A-1                            | CUSIP: 92766AAN8<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |    515000 | PA      | $500430.34    | 0.27%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    108689 | PA      | $108489.86    | 0.06%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | New York State Dormitory Authority, Series 2025A                                            | CUSIP: 64985SBV4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895726.80    | 0.48%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | New York City Transitional Finance Authority Future Tax Secured, Series FISCAL 2026 SUB F-1 | CUSIP: 64972JC55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047743.10   | 0.56%             | 2046-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                         | California Community Choice Financing Authority                                             | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1279945.02   | 0.69%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Westchester County Healthcare Corp. NY                                  | Westchester County Healthcare Corp.                                                         | CUSIP: 957366DV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110005.32    | 0.06%             | 2030-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | New York State Housing Finance Agency                                                       | CUSIP: 64987JXP1<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012417.10   | 0.54%             | 2052-11-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    354563 | PA      | $304274.66    | 0.16%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                                      | New York Liberty Development Corp.                                                          | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $1940053.16   | 1.04%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New York Convention Center Development Corp.                            | New York Convention Center Development Corp.                                                | CUSIP: 649451GV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $300330.98    | 0.16%             | 2043-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    418654 | PA      | $280498.37    | 0.15%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | Commonwealth of Puerto Rico                                                                 | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    114620 | PA      | $125137.78    | 0.07%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

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

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer