# EDGAR Filing Document

**Accession Number:** 0000830487
**File Stem:** 0001752724-23-069673
**Filing Date:** 2023-3
**Character Count:** 196242
**Document Hash:** b7c936d99c44baf7a50890954964c8e3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069673.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069673

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.
- **CENTRAL INDEX KEY:** 0000830487
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05497
- **FILM NUMBER:** 23767895

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 888-777-0102

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUNICIPAL HIGH INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SPECIAL OPPORTUNITIES MUNICIPAL FUND INC
- **DATE OF NAME CHANGE:** 19881025

## Nport-Ex

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| **MUNICIPAL BONDS - 95.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alabama - 5.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alabama State Corrections Institution Finance Authority Revenue, Series A | 5.250% | 7/1/52 | $500000 | $553940 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson County, AL, Sewer Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible CAB, Subordinated Lien, Warrants, Step bond, Series F, Refunding (0.000% to 10/1/23 then 7.900%) | 0.000% | 10/1/50 | 3020000 | 3097009 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Warrants, Series A, Refunding, AGM | 5.500% | 10/1/53 | 400000 | 412278 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Lien, Warrants, Series D, Refunding | 6.000% | 10/1/42 | 1120000 | 1196662 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Lien, Warrants, Series D, Refunding | 6.500% | 10/1/53 | 3000000 | 3207682 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Alabama* |  |  |  | *8467571* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alaska - 0.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage, AK, Port Revenue, Series A | 5.000% | 12/1/50 | 250000 | 257689 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Tobacco Securitization Corp., AK, Tobacco Settlement Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 1, Series A | 4.000% | 6/1/36 | 400000 | 400591 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 1, Series A, Refunding | 4.000% | 6/1/50 | 250000 | 228239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 2, Series B-1 | 4.000% | 6/1/50 | 500000 | 497507 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Alaska* |  |  |  | *1384026* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arizona - 3.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona, AZ, IDA Revenue, Doral Academy Of Northern Nevada Project, Series A, Refunding | 4.000% | 7/15/51 | 500000 | 390357 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; La Paz County, AZ, IDA Revenue, Charter School Solutions, Harmony Public School Project, Series A | 5.000% | 2/15/36 | 1000000 | 1022068 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maricopa County, AZ, IDA Revenue, Legacy Traditional Schools Project, Series 2019, Refunding | 5.000% | 7/1/49 | 500000 | 473349 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navajo Nation, AZ, Revenue, Series A, Refunding | 5.500% | 12/1/30 | 190000 | 199052 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix, AZ, IDA Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basis School Inc., Refunding | 5.000% | 7/1/35 | 1000000 | 1005210 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great Hearts Academies, Refunding | 5.000% | 7/1/41 | 1200000 | 1217165 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salt Verde, AZ, Financial Corp., Natural Gas Revenue, Series 2007 | 5.000% | 12/1/37 | 1500000 | 1591134 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Arizona* |  |  |  | *5898335* | |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 1

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California - 10.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alameda, CA, Corridor Transportation Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible CAB, Series C, Refunding, AGM | 5.000% | 10/1/52 | $600000 | $662801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Subordinated Lien, Series B, Refunding | 5.000% | 10/1/34 | 500000 | 524070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anaheim, CA, Public Financing Authority Lease Revenue, Series A, Refunding | 5.000% | 5/1/46 | 2000000 | 2066985 <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State Community Choice Financing Authority Revenue, Clean Energy Project, Green Bonds, Series B-1 | 5.000% | 8/1/29 | 500000 | 535552 <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State Community Housing Agency, Essential Housing Revenue, Stoneridge Apartments, Series A | 4.000% | 2/1/56 | 500000 | 393749 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State MFA Revenue, Senior Lien, LINXS APM Project,<br>Series A | 5.000% | 12/31/43 | 700000 | 715149 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State PCFA Water Furnishing Revenue, San Diego County Water Authority Desalination Project, Refunding | 5.000% | 7/1/39 | 700000 | 717970 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State Public Finance Authority, Senior Living Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enso Village Project, Green Bond, Series A | 5.000% | 11/15/36 | 250000 | 242709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enso Village Project, Green Bond, Series B-3, Refunding | 2.125% | 11/15/27 | 250000 | 237088 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Statewide CDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group-Pomona Properties LLC, Series A | 5.600% | 1/15/36 | 500000 | 500101 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group-Pomona Properties LLC, Series A | 5.750% | 1/15/45 | 360000 | 360065 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Statewide CDA, Community Improvement Authority Revenue, Renaissance at City Center, Series A | 5.000% | 7/1/51 | 175000 | 172733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inland Valley, CA, Development Agency, Successor Agency Tax Allocation Revenue, Series A, Refunding | 5.000% | 9/1/44 | 500000 | 507497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain House Public Financing Authority, CA, Utility Systems Revenue, Green Bond, Series A, BAM | 4.000% | 12/1/45 | 750000 | 753080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; M-S-R Energy Authority, CA, Natural Gas Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | 6.500% | 11/1/39 | 1000000 | 1256752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | 7.000% | 11/1/34 | 2000000 | 2584957 |

---

**See Notes to Schedule of Investments.** 

2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | 6.500% | 11/1/39 | $2000000 | $2513505 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redding, CA, Redevelopment Agency, Tax Allocation, Shastec Redevelopment Project | 5.000% | 9/1/29 | 600000 | 601425 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; River Islands, CA, Public Financing Authority, Special Tax Revenue, Community Facilities District No. 2003-1, Series A-1, Refunding, AGM | 5.250% | 9/1/52 | 300000 | 330625 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; San Francisco, CA, City & County Airport Commission, International Airport Revenue, Second Series A, Refunding | 5.000% | 5/1/47 | 1000000 | 1032098 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Securitization Authority of Southern California Revenue, Asset Backed Refunding, San Diego County Tobacco Asset Securitization Corporation, Class 1, Series A | 5.000% | 6/1/48 | 200000 | 209776 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total California* |  |  |  | *16918687* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colorado - 1.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aristation Metropolitan District, CO, GO, Convertible Unlimited & Special Revenue, Refunding and Improvements | 5.000% | 12/1/38 | 500000 | 492957 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State Health Facilities Authority Revenue, Commonspirit Health Initiatives, Series B-2 | 5.000% | 8/1/26 | 250000 | 264067 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State High Performance Transportation Enterprise Revenue, C-470 Express Lanes | 5.000% | 12/31/51 | 150000 | 148634 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Range, CO, Metropolitan District #2, GO, Series A, Refunding | 5.625% | 12/1/37 | 500000 | 508115 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Authority for Colorado Energy, Natural Gas Purchase Revenue, Series 2008 | 6.125% | 11/15/23 | 955000 | 974981 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Metropolitan District, CO, Limited & Special Revenue, Series 2020, Refunding and Improvements | 5.000% | 12/1/40 | 500000 | 488717 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Colorado* |  |  |  | *2877471* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Connecticut - 1.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut State Special Tax Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Infrastructure, Series A | 5.000% | 1/1/37 | 500000 | 546180 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Infrastructure, Series A | 5.000% | 5/1/38 | 550000 | 618616 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut State, GO, Series A | 4.000% | 4/15/37 | 600000 | 620862 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Connecticut* |  |  |  | *1785658* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Florida - 5.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broward County, FL, Port Facilities Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Bonds, Series B | 4.000% | 9/1/44 | 1250000 | 1204002 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Bonds, Series B | 4.000% | 9/1/49 | 500000 | 469515 | <sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 3

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Florida - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022 | 5.500% | 9/1/52 | $1000000 | $1092462 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State Development Finance Corp., Educational Facilities Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mater Academy Projects, Series A | 5.000% | 6/15/40 | 650000 | 656644 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Renaissance Charter School Inc. Projects, Series A | 6.000% | 6/15/35 | 250000 | 254275 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Renaissance Charter School Inc. Projects, Series A | 6.125% | 6/15/46 | 215000 | 216981 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State Mid-Bay Bridge Authority Revenue, Series A, Refunding | 5.000% | 10/1/28 | 500000 | 521651 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fort Pierce, FL, Utilities Authority Revenue, Series A, Refunding, AGM | 4.000% | 10/1/52 | 150000 | 147932 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Aviation Revenue, Series A, Refunding | 5.000% | 10/1/49 | 650000 | 674816 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Seaport Revenue, Series A, Refunding | 5.250% | 10/1/52 | 750000 | 802065 | <sup>(a)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange County, FL, Health Facilities Authority Revenue, Orlando Health Inc., Series A | 5.000% | 10/1/53 | 250000 | 268981 | <sup>(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Beach County, FL, Health Facilities Authority Hospital Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jupiter Medical Center Project, Series A | 5.000% | 11/1/39 | 350000 | 368800 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jupiter Medical Center Project, Series A | 5.000% | 11/1/47 | 1515000 | 1570995 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Beach County, FL, Health Facilities Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Refunding | 4.000% | 6/1/41 | 100000 | 82809 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Series A | 5.000% | 6/1/55 | 350000 | 320708 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reunion, FL, East Community Development District, Special Assessment Bond, Series A-2 | 7.375% | 5/1/33 | 285000 | 3 | \*<sup>(g)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Florida* |  |  |  | *8652639* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia - 0.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Georgia State Municipal Electric Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3 & 4 Project M, Series A | 5.250% | 7/1/64 | 350000 | 368809 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3 & 4 Project P, Series A | 5.500% | 7/1/64 | 250000 | 262472 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3 & 4 Project, Series A | 5.000% | 1/1/56 | 250000 | 254088 |  |

---

**See Notes to Schedule of Investments.** 

4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project One Subordinated, Series A | 5.000% | 1/1/45 | $250000 | $262330 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Main Street Natural Gas Inc., GA, Gas Project Revenue, Series A | 5.000% | 5/15/43 | 150000 | 152630 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Georgia* |  |  |  | *1300329* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illinois - 15.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, Board of Education, Dedicated Capital Improvement, Special Tax Revenue, Series 2018 | 5.000% | 4/1/42 | 1000000 | 1012996 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, Board of Education, GO: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series H | 5.000% | 12/1/46 | 1000000 | 1003761 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | 5.000% | 12/1/39 | 1250000 | 1280493 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding, AGM | 5.000% | 12/1/32 | 250000 | 268531 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, GO: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago Works, Series A | 5.500% | 1/1/39 | 550000 | 600594 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | 5.000% | 1/1/44 | 500000 | 502388 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 5.000% | 1/1/28 | 500000 | 528195 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 6.000% | 1/1/38 | 300000 | 319848 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | 5.000% | 1/1/25 | 500000 | 512111 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, O'Hare International Airport Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Senior Lien, Series C, Refunding | 5.000% | 1/1/44 | 500000 | 534446 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series G | 5.000% | 1/1/42 | 500000 | 516940 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 5.000% | 1/1/31 | 1500000 | 1552427 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien | 5.000% | 12/1/51 | 1000000 | 1028216 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A, Refunding | 5.000% | 12/1/45 | 500000 | 527497 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, Wastewater Transmission Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A | 5.000% | 1/1/47 | 300000 | 304500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series B, Refunding | 5.000% | 1/1/38 | 500000 | 513438 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, IL, Waterworks Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series 2017, Refunding | 5.000% | 11/1/29 | 500000 | 534897 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series 2017-2, Refunding, AGM | 5.000% | 11/1/32 | 1260000 | 1373246 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State Finance Authority, Revenue, Franciscan Communities Inc.: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 5.250% | 5/15/47 | 130000 | 130982 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 5.250% | 5/15/47 | 870000 | 847791 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State Sports Facilities Authority Revenue, State Tax Supported, Series 2019, Refunding, BAM | 5.000% | 6/15/30 | 250000 | 271367 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 5

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illinois - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State University, Auxiliary Facilities System Revenue, Series A, Refunding, AGM | 5.000% | 4/1/28 | $100000 | $111864 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, GO: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016, Refunding | 5.000% | 2/1/29 | 300000 | 318367 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | 5.000% | 3/1/37 | 1250000 | 1328590 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | 5.000% | 3/1/46 | 500000 | 514372 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 5.000% | 10/1/29 | 1100000 | 1188982 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | 5.000% | 10/1/30 | 550000 | 591973 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | 5.000% | 9/1/27 | 400000 | 430573 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | 5.000% | 11/1/27 | 1150000 | 1239839 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, IL, Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A | 5.000% | 6/15/57 | 350000 | 352080 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | 4.000% | 12/15/42 | 750000 | 703382 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | 4.000% | 12/15/47 | 1000000 | 906510 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | 5.000% | 6/15/50 | 250000 | 254043 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series B, Refunding | 5.000% | 6/15/42 | 1250000 | 1290615 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regional Transportation Authority, IL, GO, Series A, Refunding, NATL | 6.000% | 7/1/29 | 930000 | 1080611 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Illinois* |  |  |  | *24476465* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Indiana - 2.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State Finance Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHI Senior Living Inc., Series A, Refunding | 4.000% | 11/15/41 | 500000 | 423231 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marion General Hospital, Series A | 4.000% | 7/1/45 | 200000 | 199443 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwestern Disaster Relief, Ohio Valley Electric Corp. Project, Series A | 4.250% | 11/1/30 | 200000 | 198910 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Activity Ohio River Bridges East End Crossing Project, Series A | 5.000% | 7/1/48 | 2000000 | 2017847 | <sup>(a)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valparaiso, IN, Exempt Facilities Revenue, Pratt Paper LLC Project | 7.000% | 1/1/44 | 500000 | 514398 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Indiana* |  |  |  | *3353829* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Iowa - 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iowa State Finance Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding | 5.000% | 12/1/42 | 750000 | 766909 | <sup>(d)(e)</sup> |

---

**See Notes to Schedule of Investments.** 

6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Iowa - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding | 5.000% | 12/1/50 | $700000 | $704819 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iowa State Tobacco Settlement Authority Revenue, Asset Backed Senior Bonds, Class 1, Series A-2, Refunding | 4.000% | 6/1/49 | 150000 | 136977 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Iowa* |  |  |  | *1608705* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kentucky - 1.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kentucky State PEA, Gas Supply Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | 4.000% | 6/1/26 | 1500000 | 1503269 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | 4.000% | 6/1/25 | 1400000 | 1404169 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Kentucky* |  |  |  | *2907438* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Louisiana - 1.2%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State PFA, Lease Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group, Flagship Properties | 5.000% | 7/1/42 | 700000 | 726488 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group, Flagship Properties, Series A | 4.000% | 7/1/49 | 500000 | 470177 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. John the Baptist Parish, LA, State Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series A-3, Refunding | 2.200% | 7/1/26 | 400000 | 377230 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series B-2, Refunding | 2.375% | 7/1/26 | 250000 | 236769 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Louisiana* |  |  |  | *1810664* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maryland - 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State EDC Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan State University Project | 4.250% | 7/1/50 | 350000 | 332581 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagirt Marine Terminal Project, Series A | 5.000% | 6/1/44 | 400000 | 416921 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State Health & Higher EFA Revenue, Frederick Health System | 4.000% | 7/1/40 | 300000 | 292748 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Maryland* |  |  |  | *1042250* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Massachusetts - 0.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State DFA Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northeastern University Issue, Refunding | 5.000% | 10/1/44 | 500000 | 569812 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wellforce Issue, Series A, Refunding | 5.000% | 7/1/36 | 500000 | 513074 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wellforce Issue, Series A, Refunding | 5.000% | 7/1/44 | 250000 | 249981 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Massachusetts* |  |  |  | *1332867* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Michigan - 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Detroit, MI, Downtown Development Authority Revenue, Catalyst Development, Series A, Refunding, AGM | 5.000% | 7/1/43 | 250000 | 251906 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State Finance Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henry Ford Health System, Series A | 4.000% | 11/15/50 | 400000 | 381369 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 7

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Michigan - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Settlement Asset Backed Senior Bonds, Series B-1, Refunding | 5.000% | 6/1/49 | $80000 | $82451 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State Strategic Fund Limited Obligation Revenue, I-75 Improvement Project | 5.000% | 12/31/43 | 250000 | 255460 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Michigan* |  |  |  | *971186* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Missouri - 1.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Missouri State HEFA Revenue, Senior Living Facilities, Lutheran Senior Services, Refunding | 5.000% | 2/1/44 | 750000 | 727242 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis County, MO, IDA, Senior Living Facilities Revenue, Friendship Village of Sunset Hills, Series A | 5.875% | 9/1/43 | 2000000 | 2007862 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Missouri* |  |  |  | *2735104* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nebraska - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Omaha Public Power District, NE, Electric System Revenue, Series B, Refunding | 4.000% | 2/1/46 | 500000 | *496050* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nevada - 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Nevada Department of Business & Industry Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Lease Revenue, Somerset Academy, Series A | 5.000% | 12/15/35 | 300000 | 302774 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Lease Revenue, Somerset Academy, Series A | 5.125% | 12/15/45 | 500000 | 496971 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Nevada* |  |  |  | *799745* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Jersey - 7.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gloucester County, NJ, PCFA Revenue, Keystone Urban Renewal, Logan Generating, Series A, Refunding | 5.000% | 12/1/24 | 185000 | 188550 | <sup>(a)(h)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State EDA Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Activity-The Goethals Bridge Replacement Project | 5.375% | 1/1/43 | 1500000 | 1517586 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Facility, Port Newark Container Terminal LLC Project, Refunding | 5.000% | 10/1/37 | 125000 | 127280 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transit Transportation Project, Series A | 5.000% | 11/1/32 | 1500000 | 1691144 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State Health Care Facilities Financing Authority Revenue, Hackensack Meridian Health, Series A, Refunding | 5.000% | 7/1/38 | 100000 | 107070 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State Higher Education, Student Assistance Authority Revenue, Subordinated, Series B-1 | 5.000% | 12/1/44 | 640000 | 642874 | <sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Jersey - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State Transportation Trust Fund Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA | 5.250% | 6/15/32 | $4720000 | $4973084 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series BB | 5.000% | 6/15/44 | 1000000 | 1043816 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, GO, COVID-19 Emergency, Series A | 5.000% | 6/1/28 | 1250000 | 1422751 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salem County, NJ, PCFA Revenue, Chambers Project, Series A, Refunding | 5.000% | 12/1/23 | 530000 | 537480 | <sup>(a)(h)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., NJ, Revenue, Series A, Refunding | 5.250% | 6/1/46 | 150000 | 156787 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total New Jersey* |  |  |  | *12408422* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Mexico - 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Santa Fe, NM, Retirement Facilities Revenue, EL Castillo Retirement Residences Project, Series A | 5.000% | 5/15/49 | 250000 | *212453* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York - 6.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookhaven, NY, Local Development Corp., Long Island Community Hospital Project, Series A | 5.000% | 10/1/34 | 735000 | 812953 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Build NYC Resource Corp., NY, Revenue, East Harlem Scholars Academy Charter School Project | 5.750% | 6/1/62 | 300000 | 307538 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MTA, NY, Transportation Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series E, Refunding | 5.000% | 11/15/30 | 250000 | 272483 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series E, Refunding | 4.000% | 11/15/45 | 250000 | 228559 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A-2 | 5.000% | 5/15/30 | 400000 | 437465 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City, NY, GO, Subseries A-1 | 4.000% | 8/1/40 | 750000 | 755500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City, NY, Industrial Development Agency Revenue, Yankee Stadium Project, Refunding | 4.000% | 3/1/45 | 300000 | 283893 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Dormitory Authority Revenue, Non-State Supported Debt, Memorial Sloan- Kettering Cancer Center, Series B-1 | 4.000% | 7/1/51 | 500000 | 492192 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Liberty Development Corp., Liberty Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 World Trade Center Project, Class 1, Refunding | 5.000% | 11/15/44 | 1205000 | 1203322 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 World Trade Center Project, Class 3, Refunding | 3.500% | 9/15/52 | 700000 | 576747 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Thruway Authority General Revenue, Junior Indebtedness Obligations, Junior Lien, Series B | 4.000% | 1/1/45 | 750000 | 734340 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 9

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Transportation Development Corp., Special Facilities Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project | 5.000% | 1/1/33 | $750000 | $782646 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project | 4.375% | 10/1/45 | 250000 | 237768 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal 4 Project, Series C, Refunding | 4.000% | 12/1/42 | 500000 | 473433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LaGuardia Airport Terminal B Redevelopment Project, Series A | 5.000% | 7/1/41 | 300000 | 301745 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LaGuardia Airport Terminal B Redevelopment Project, Series A | 5.000% | 7/1/46 | 500000 | 500316 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey Revenue, Consolidated Series 221 | 4.000% | 7/15/45 | 1000000 | 967026 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Troy Capital Resource Corp., NY, Revenue, Rensselaer Polytechnic Institute Project, Series A, Refunding | 4.000% | 9/1/40 | 500000 | 486621 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total New York* |  |  |  | *9854547* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Carolina - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Carolina State Turnpike Authority, Monroe Expressway Toll Revenue, Series A, Refunding | 5.000% | 7/1/47 | 500000 | *506454* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Dakota - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grand Forks, ND, Health Care System Revenue, Altru Health System, Refunding, AGM | 3.000% | 12/1/46 | 600000 | *467721* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ohio - 1.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckeye, OH, Tobacco Settlement Financing Authority Revenue, Senior Bonds, Series B-2, Refunding | 5.000% | 6/1/55 | 800000 | 764003 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio State Air Quality Development Authority Revenue, American Electric Co. Project, Series B, Refunding | 2.500% | 10/1/29 | 350000 | 319875 | <sup>(a)(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio State Private Activity Revenue, Portsmouth Bypass Project | 5.000% | 6/30/53 | 700000 | 703525 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Ohio* |  |  |  | *1787403* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oklahoma - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tulsa County, OK, Industrial Authority, Senior Living Community Revenue, Montereau Inc. Project, Refunding | 5.250% | 11/15/37 | 500000 | *511198* |  |

---

**See Notes to Schedule of Investments.** 

10 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oregon - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clackamas County, OR, Hospital Facility Authority Revenue, Senior Living, Willamette View Project, Refunding | 5.000% | 11/15/37 | $500000 | $*496351* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pennsylvania - 6.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegheny County, PA, HDA Revenue, University Pittsburgh Medical Center, Series A, Refunding | 4.000% | 7/15/39 | 350000 | 351614 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue Bonds, Series 2018 | 5.000% | 6/1/33 | 200000 | 221375 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cumberland County, PA, Municipal Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diakon Lutheran Social Ministries 2015, Refunding | 5.000% | 1/1/28 | 45000 | 47198 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diakon Lutheran Social Ministries 2015, Refunding | 5.000% | 1/1/28 | 105000 | 110128 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diakon Lutheran Social Ministries 2015, Refunding | 5.000% | 1/1/28 | 200000 | 203939 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie County, PA, Convention Center Authority Guaranteed Hotel Revenue, County Guaranty, Refunding | 5.000% | 1/15/36 | 750000 | 776644 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lancaster County, PA, Convention Center Authority Revenue, Hotel Room Rental Tax: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | 4.000% | 5/1/49 | 250000 | 241784 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | 4.750% | 5/1/57 | 500000 | 515473 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lancaster, PA, IDA Revenue, Willow Valley Communities Project | 5.000% | 12/1/49 | 500000 | 522223 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pennsylvania State Economic Development Financing Authority Revenue, Tax-Exempt Private Activity, The Penndot Major Bridges Package One Project | 5.250% | 6/30/53 | 2400000 | 2524931 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pennsylvania State Turnpike Commission Revenue, Subordinated,<br>Series B, Refunding | 5.000% | 6/1/39 | 3170000 | 3306130 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philadelphia, PA, Authority for IDR: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Revenue, A String Theory Charter School Project | 5.000% | 6/15/40 | 400000 | 401654 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City Service Agreement Revenue, Rebuild Project | 5.000% | 5/1/38 | 500000 | 538963 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease Revenue, Refunding | 5.000% | 10/1/30 | 250000 | 290265 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Pennsylvania* |  |  |  | *10052321* | |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 11

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Puerto Rico - 4.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico Commonwealth Highway & Transportation Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A | 5.000% | 7/1/62 | $160000 | $154400 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series B | 0.000% | 7/1/32 | 120000 | 75600 | <sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | 0.000% | 7/1/27 | 240000 | 198192 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | 0.000% | 7/1/46 | 1220000 | 336545 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | 4.550% | 7/1/40 | 50000 | 49300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | 4.750% | 7/1/53 | 3020000 | 2879830 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | 5.000% | 7/1/58 | 880000 | 869219 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-2 | 4.329% | 7/1/40 | 530000 | 508706 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-2A | 4.550% | 7/1/40 | 1380000 | 1360683 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Puerto Rico* |  |  |  | *6432475* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **South Carolina - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Carolina State Jobs-EDA Hospital Facilities Revenue, Bon Secours Mercy Health Inc., Series A, Refunding | 4.000% | 12/1/44 | 400000 | *389724* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tennessee - 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarksville, TN, Water, Sewer & Gas Revenue, Series A | 4.000% | 2/1/51 | 500000 | 496390 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tennessee State Energy Acquisition Corp., Natural Gas Revenue, Series 2018 | 4.000% | 11/1/25 | 400000 | 402016 | <sup>(d)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Tennessee* |  |  |  | *898406* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas - 6.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, TX, Higher Education Finance Corp., Education Revenue, Uplift Education, Series A | 5.000% | 12/1/46 | 200000 | 203271 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, TX, Special Tax Revenue, Subordinated Lien, Series C, BAM | 5.000% | 2/15/41 | 500000 | 517024 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austin, TX, Airport System Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022 | 5.000% | 11/15/52 | 300000 | 316092 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | 5.000% | 11/15/39 | 600000 | 643119 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Central Texas Regional Mobility Authority Revenue, Senior Lien, Series E | 4.000% | 1/1/50 | 500000 | 486460 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gulf Coast, TX, IDA, Solid Waste Disposal Revenue, Citgo Petroleum Corp. Project | 4.875% | 5/1/25 | 1000000 | 1000261 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Love Field, TX, Airport Modernization Corp., General Airport Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | 5.000% | 11/1/33 | 20000 | 21254 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | 5.000% | 11/1/36 | 20000 | 20943 | <sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., TX, Retirement Facility Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MRC Crestview, Refunding | 5.000% | 11/15/36 | $550000 | $583503 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster Manor Project | 4.000% | 11/1/49 | 400000 | 316912 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster Manor Project, Refunding | 5.000% | 11/1/40 | 1000000 | 1002632 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., TX, Student Housing Revenue, Collegiate Housing Stephenville II LLC, Tartleton State University Project, Series A | 5.000% | 4/1/39 | 1165000 | 1197684 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newark, TX, Higher Education Finance Corp., Education Revenue, TLC Academy, Series A | 4.000% | 8/15/56 | 350000 | 265550 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, TX, Cultural Education Facilities Finance Corp., Retirement Facility Revenue, Buckner Retirement Services Inc. Project, Refunding | 5.000% | 11/15/37 | 700000 | 727599 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas State, Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Senior Lien, Series D | 6.250% | 12/15/26 | 550000 | 584658 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas State Private Activity Bond Surface Transportation Corp. Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Blueridge Transportation Group LLC | 5.000% | 12/31/40 | 1000000 | 1011654 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Blueridge Transportation Group LLC | 5.000% | 12/31/50 | 500000 | 501884 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Willacy County, TX, Jail Public Facilities Corp. Project Revenue | 7.500% | 11/1/25 | 210000 | 185592 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Texas* |  |  |  | *9586092* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utah - 0.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utah State Charter School Finance Authority, Charter School Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summit Academy Inc., Series A, Refunding, UT CSCE | 5.000% | 4/15/39 | 350000 | 371245 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Syracuse Arts Academy Project, UT CSCE | 5.000% | 4/15/42 | 250000 | 256718 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utah State Infrastructure Agency, Telecommunications Revenue, Series A | 5.250% | 10/15/33 | 550000 | 569929 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Utah* |  |  |  | *1197892* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia - 1.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virginia State Port Authority, Port Facilities Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | 5.000% | 7/1/41 | 250000 | 258965 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | 5.000% | 7/1/45 | 300000 | 310552 | <sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 13

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia - continued** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virginia State Small Business Financing Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Senior Campuses, Inc., Series A, Refunding | 5.000% | 1/1/34 | $200000 | $218008 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, 95 Express Lanes LLC Project, Refunding | 5.000% | 1/1/37 | 1000000 | 1072336 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, I-495 HOT Lanes Project, Refunding | 5.000% | 12/31/47 | 250000 | 259982 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Virginia* |  |  |  | *2119843* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Washington - 0.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Seattle, WA, Intermediate Lien Revenue, Series 2022, Refunding | 5.000% | 8/1/41 | 500000 | 542581 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State Health Care Facilities Authority Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonspirit Health, Series A-1, Refunding | 4.000% | 8/1/44 | 535000 | 515523 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seattle Cancer Care Alliance | 4.000% | 12/1/40 | 370000 | 370803 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Washington* |  |  |  | *1428907* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wisconsin - 2.0%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carmelite System Inc., Obligated Group, Series 2020, Refunding | 5.000% | 1/1/40 | 100000 | 100810 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese Project, Series B, Refunding | 5.000% | 12/1/25 | 550000 | 561302 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cone Health, Series A | 5.000% | 10/1/52 | 300000 | 319102 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Student Housing Revenue: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appalachian State University Project, Series A, AGM | 4.000% | 7/1/45 | 600000 | 564390 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHF Wilmington LLC, University of North Carolina at Wilmington Project, AGM | 5.000% | 7/1/53 | 1000000 | 1030077 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Hawai'i Foundation Project, Green Bonds, Series A-1 | 4.000% | 7/1/51 | 280000 | 221320 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State HEFA Revenue, Bellin Memorial Hospital Inc., Series A | 5.500% | 12/1/52 | 250000 | 277616 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Wisconsin* |  |  |  | *3074617* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS**<br> (Cost - $149,951,791) |  |  |  | 150243845 |  |

---

**See Notes to Schedule of Investments.** 

14 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |  |
| **MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST <sup>(i)</sup> - 2.1%** | **MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST <sup>(i)</sup> - 2.1%** | **MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST <sup>(i)</sup> - 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York - 2.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution Fiscal 2023, Subseries AA-1 | 5.250% | 6/15/52 | $1440000 | $1641010 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Dormitory Authority, State Personal Income Tax Revenue, Series A | 4.000% | 3/15/45 | 1740000 | 1725102 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST**<br> (Cost - $3,287,671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST**<br> (Cost - $3,287,671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST**<br> (Cost - $3,287,671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUST**<br> (Cost - $3,287,671) | 3366112 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $153,239,462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $153,239,462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $153,239,462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $153,239,462) | 153609957 |  |
| **SHORT-TERM INVESTMENTS - 4.2%** |  |  |  |  |  |
| **MUNICIPAL BONDS - 3.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California - 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; San Jose, CA, Multifamily Housing Revenue, Series B, Refunding, LIQ - FHLMC | 1.390% | 7/1/38 | 100000 | *100000* | <sup>(a)(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maryland - 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State Health & Higher EFA Revenue, University of Maryland Medical System, Series D, LOC - TD Bank N.A. | 1.200% | 7/1/41 | 200000 | *200000* | <sup>(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mississippi - 1.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mississippi State Business Finance Corp., Gulf Opportunity Zone, IDR: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chevron USA Inc. Project, Series B | 1.200% | 12/1/30 | 1050000 | 1050000 | <sup>(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chevron USA Inc. Project, Series B | 1.200% | 11/1/35 | 100000 | 100000 | <sup>(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chevron USA Inc. Project, Series C | 1.200% | 12/1/30 | 100000 | 100000 | <sup>(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chevron USA Inc. Project, Series G | 1.200% | 11/1/35 | 1175000 | 1175000 | <sup>(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Mississippi* |  |  |  | *2425000* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nevada - 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State Housing Division, Multi Unit Housing Revenue, Series A, LOC - FNMA, LIQ - FNMA | 1.700% | 4/15/33 | 650000 | *650000* | <sup>(a)(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City, NY, GO, Subseries E-5, LOC - TD Bank N.A. | 1.150% | 3/1/48 | 200000 | 200000 | <sup>(j)(k)</sup> |

---

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 15

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York - continued** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution Fiscal 2014, Series AA-5, Refunding, SPA - Mizuho Bank Ltd. | 1.150% | 6/15/48 | $100000 | $100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State Housing Finance Agency Revenue, 350 West 43rd Street, Series A LOC - Landesbank Hessen - Thueringen | 1.210% | 11/1/34 | 150000 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total New York* |  |  |  | *450000* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Carolina - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Carolina Educational Facilities Finance Agency Revenue, Duke University, Series A | 1.450% | 6/1/27 | 400000 | *400000* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pennsylvania - 0.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philadelphia, PA, Authority for IDR, Gift of Life Donor Program Project, LOC - TD Bank N.A. | 1.600% | 12/1/34 | 900000 | *900000* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas - 0.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harris County, TX, Solid Waste Disposal Revenue, Industrial Development Corp. Project | 1.190% | 4/1/32 | 200000 | *200000* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MUNICIPAL BONDS**<br> (Cost - $5,325,000) |  |  |  | 5325000 |
| **U.S. GOVERNMENT AGENCIES - 0.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Bank (FHLB), Discount Notes<br>(Cost - $1,200,000) | 0.000% | 2/1/23 | 1200000 | 1200000 |
|  |  |  | **SHARES** |  |
| **MONEY MARKET FUNDS - 0.0%††** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium Shares<br> (Cost - $61,508) | 4.283% |  | 61508 | 61508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost - $6,586,508) |  |  |  | 6586508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 101.6%**<br> (Cost - $159,825,970) |  |  |  | 160196465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOB Floating Rate Notes - (1.2)% |  |  |  | (1830000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Liabilities in Excess of Other Assets - (0.4)% |  |  |  | (713689) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  |  | $157652776 |

---

**See Notes to Schedule of Investments.** 

16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

---

| | |
|:---|:---|
| †† | Represents less than 0.1%.  |

---

\* Non-income producing security.

(a) Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax
("AMT").

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold
in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(c) Pre-Refunded bonds are generally escrowed with U.S. government
obligations and/or U.S. government agency securities.

(d) Maturity date shown represents the mandatory tender date.

(e) Variable rate security. Interest rate disclosed is as of the most recent information available. Certain
variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description
above.

(f) Securities traded on a when-issued or delayed delivery basis.

(g) The coupon payment on this security is currently in default as of January 31, 2023.

(h) Bonds are generally escrowed to maturity by government securities and/or U.S. government agency securities.

(i) Represents securities deposited into a special purpose entity, referred to as a Tender Option Bond
("TOB") trust.

(j) Variable rate demand obligations ("VRDOs") have a demand feature under which the Fund can tender them
back to the issuer or liquidity provider on no more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the remarketing agent, pursuant to a formula
specified in official documents for the VRDO, or set at the highest rate allowable as specified in official documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association ("SIFMA") Municipal Swap
Index. The SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board's Short-term Obligation Rate Transparency
System.

(k) Maturity date shown is the final maturity date. The security may be sold back to the issuer before final
maturity.

(l) Rate shown represents yield-to-maturity.

(m) Rate shown is one-day yield as of the end of the reporting period.

(n) In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company"
represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At January 31, 2023, the total market value of investments in Affiliated
Companies was $61,508 and the cost was $61,508 (Note 2).

**See Notes to Schedule of Investments.** 

Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report 17

------

**WESTERN ASSET MUNICIPAL HIGH INCOME FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

<u>Abbreviation(s) used in this schedule:</u> 

---

| | |
|:---|:---|
| AGM | — Assured Guaranty Municipal Corporation - Insured Bonds |
| BAM | — Build America Mutual - Insured Bonds |
| CAB | — Capital Appreciation Bonds |
| CDA | — Communities Development Authority |
| CSCE | — Charter School Credit Enhancement |
| DFA | — Development Finance Agency |
| EDA | — Economic Development Authority |
| EDC | — Economic Development Corporation |
| EFA | — Educational Facilities Authority |
| FHLMC | — Federal Home Loan Mortgage Corporation |
| FNMA | — Federal National Mortgage Association |
| GO | — General Obligation |
| HDA | — Housing Development Authority |
| HEFA | — Health & Educational Facilities Authority |
| IDA | — Industrial Development Authority |
| IDR | — Industrial Development Revenue |
| LIQ | — Liquidity Facility |
| LOC | — Letter of Credit |
| MFA | — Municipal Finance Authority |
| MTA | — Metropolitan Transportation Authority |
| NATL | — National Public Finance Guarantee Corporation - Insured Bonds |
| PCFA | — Pollution Control Financing Authority |
| PEA | — Public Energy Authority |
| PFA | — Public Facilities Authority |
| SPA | — Standby Bond Purchase Agreement - Insured Bonds |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

**See Notes to Schedule of Investments.** 

18 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset Municipal High Income Fund Inc. 2023 Quarterly Report

------

**Notes to Schedule of Investments (unaudited)** 

**1. Organization and significant accounting policies** 

Western Asset Municipal High Income Fund Inc. (the "Fund") was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund seeks high current income exempt from federal income taxes. The Fund seeks to achieve its investment objective by investing primarily in intermediate and long-term municipal debt securities issued by state and local governments ("municipal obligations"). However, the Fund may invest in municipal obligations of any maturity. The Fund may invest up to 100% of its assets in municipal obligations rated below investment grade (commonly referred to as "junk bonds"). Investment grade securities are those rated in the Baa/BBB categories or above by at least one National Recognized Statistical Rating Organization that provides such a rating or unrated securities that the subadviser determined to be of comparable credit quality. For credit ratings purposes, pre-refunded bonds are deemed to be unrated. The subadviser determines the credit quality of pre-refunded bonds based on the quality of the escrowed collateral and such other factors as the subadviser deems appropriate.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically 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 securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Directors.

<br>19<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

Pursuant to policies adopted by the Board of Directors, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

<br>20<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – unadjusted quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – other significant observable inputs (including quoted prices for similar investments,
interest rates, prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the
fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS**<br>**(Level 3)** | **TOTAL** |
|  Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | $150243845 |  | $150243845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Deposited in Tender Option Bond Trust |  | 3366112 |  | 3366112 |
|  Total Long-Term Investments |  | 153609957 |  | 153609957 |
|  Short-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 5325000 |  | 5325000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agencies |  | 1200000 |  | 1200000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | $61508 |  |  | 61508 |
|  Total Short-Term Investments | 61508 | 6525000 |  | 6586508 |
|  Total Investments | $61508 | $160134957 |  | $160196465 |

---

† See Schedule of Investments for additional detailed categorizations.

**2. Transactions with affiliated company** 

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for

<br>21<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

all or some portion of the period ended January 31, 2023. The following transactions were effected in such company for the period ended January 31, 2023.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Affiliate**<br>**Value at**<br>**October 31,**<br>**2022** | **Purchased** | **Purchased** | **Sold** | **Sold** | **Realized<br>Gain (Loss)** | **Dividend**<br>**Income** | **Net Increase**<br>**(Decrease) in**<br>**Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Affiliate<br>Value at<br>January 31,<br>2023** |
|  | **Affiliate**<br>**Value at**<br>**October 31,**<br>**2022** | **Cost** | **Shares** | **Proceeds** | **Shares** | **Realized<br>Gain (Loss)** | **Dividend**<br>**Income** | **Net Increase**<br>**(Decrease) in**<br>**Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Affiliate<br>Value at<br>January 31,<br>2023** |
| Western Asset Premier Institutional Government Reserves, Premium Shares | $46898 | $296193 | 296193 | $281583 | 281583 |  | $383 |  | $61508 |

---

<br>22<br>

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset Municipal High Income Fund Inc.

- **b. Investment Company Act file number:** 811-05497

- **c. CIK number of Registrant:** 0000830487

- **d. LEI of Registrant:** 549300V8S0EC6SV7H926

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

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-888-777-0102

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

- **a. Name of Series:** Western Asset Municipal High Income Fund Inc.

- **c. LEI of Series:** 549300V8S0EC6SV7H926

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $161136618.28

**Total Liabilities:** $3484280.31

**Net Assets:** $157652337.97

**Delayed Delivery Securities:** $1068585.00

**Cash Not Reported:** $137.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 125.96000000 | **1-Year:** 3928.62000000 | **5-Year:** 20185.59000000 | **10-Year:** 60024.82000000 | **30-Year:** 7682.19000000

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

- **3-Month:** 172.64000000 | **1-Year:** 1303.90000000 | **5-Year:** 2578.75000000 | **10-Year:** 14316.10000000 | **30-Year:** 1723.42000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 8.79%                | -5.75%               | 5.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-16307.32               | $6389842.18                                |
| Month 2  | $-208728.33              | $-755321.40                                |
| Month 3  | $50745.89                | $4691220.36                                |

### 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 ST DORM AUTH REVENUES                          | New York State Dormitory Authority                                           | CUSIP: 65000BPS1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $492191.45    | 0.31%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI HLTHCARE SY                          | Public Finance Authority                                                     | CUSIP: 74447GAB6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    300000 | PA      | $319102.29    | 0.20%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG                          | Public Finance Authority                                                     | CUSIP: 74439YDQ1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $564390.06    | 0.36%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                            | Illinois Finance Authority                                                   | CUSIP: 45204E5A2<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    870000 | PA      | $847791.08    | 0.54%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SANTA FE NM RETMNT FAC REVENUE                          | City of Santa Fe NM                                                          | CUSIP: 802170AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $212453.43    | 0.13%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO                          | Mississippi Business Finance Corp                                            | CUSIP: 60528AAT1<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1050000.00   | 0.67%             | 2030-12-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA CONVENTION C                          | Lancaster County Convention Center Authority                                 | CUSIP: 514042BC3<br>LEI: 549300F347A3TMO7B762 | Long             | DBT              | MUN               | US        |    250000 | PA      | $241783.68    | 0.15%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTHL                          | Louisiana Public Facilities Authority                                        | CUSIP: 54639TCT7<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    500000 | PA      | $470176.95    | 0.30%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIRECTOR OF THE ST OF NEVADA D                          | State of Nevada Department of Business & Industry                            | CUSIP: 25490LAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496970.85    | 0.32%             | 2045-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA                          | Main Street Natural Gas Inc                                                  | CUSIP: 56035DBV3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152630.58    | 0.10%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE MET DIST CO                                     | Village Metropolitan District/The                                            | CUSIP: 92708CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $488717.00    | 0.31%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N                          | Tobacco Settlement Financing Corp                                            | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $156787.56    | 0.10%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                          | Northern Tobacco Securitization Corp                                         | CUSIP: 66585VBY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $228239.10    | 0.14%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIRECTOR OF THE ST OF NEVADA D                          | State of Nevada Department of Business & Industry                            | CUSIP: 25490LAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302773.77    | 0.19%             | 2035-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PORT AUTH PORT FAC                          | Virginia Port Authority                                                      | CUSIP: 928077JN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $310551.81    | 0.20%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY HSG AGY ESSEN                          | California Community Housing Agency                                          | CUSIP: 13013FAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $393749.45    | 0.25%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                            | Illinois Finance Authority                                                   | CUSIP: 45204E4W5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130981.96    | 0.08%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452152H20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    300000 | PA      | $318366.78    | 0.20%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                           | Metropolitan Transportation Authority                                        | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $228559.10    | 0.14%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $508705.98    | 0.32%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN                           | New York City Municipal Water Finance Authority                              | CUSIP: 64972GCP7<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2048-06-15      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX SPL TAX REVENUE                            | City of Arlington TX Special Tax Revenue                                     | CUSIP: 04184RDD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517023.60    | 0.33%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION                          | City of Chicago IL Wastewater Transmission Revenue                           | CUSIP: 167727ZH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $513438.25    | 0.33%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                             | City of New York NY                                                          | CUSIP: 64966QCU2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    750000 | PA      | $755500.35    | 0.48%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SP                          | New Jersey Economic Development Authority                                    | CUSIP: 64578CCE9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    125000 | PA      | $127279.64    | 0.08%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 4521522N0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    550000 | PA      | $591972.54    | 0.38%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST CORRS INSTN FIN AUT                          | Alabama Corrections Institution Finance Authority                            | CUSIP: 010507CL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $553939.85    | 0.35%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                          | Florida Development Finance Corp                                             | CUSIP: 34061UBU1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254275.08    | 0.16%             | 2035-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                           | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UCT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $583502.87    | 0.37%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452153AR0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1328589.63   | 0.84%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                             | Indiana Finance Authority                                                    | CUSIP: 45506DGV1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2017846.80   | 1.28%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452152P96<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1239839.04   | 0.79%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO                          | Mississippi Business Finance Corp                                            | CUSIP: 60528ACK8<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1175000.00   | 0.75%             | 2035-11-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECO                          | Utah Infrastructure Agency                                                   | CUSIP: 917467AT9<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    550000 | PA      | $569928.87    | 0.36%             | 2033-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EXEMPT FACS                          | Public Finance Authority                                                     | CUSIP: 74443QAC6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    550000 | PA      | $561301.57    | 0.36%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FED HOME LN DISCOUNT NT                                 | Federal Home Loan Bank Discount Notes                                        | CUSIP: 313384BH1<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   1200000 | PA      | $1200000.00   | 0.76%             | 2023-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 452153AW9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514371.80    | 0.33%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116CM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $782646.15    | 0.50%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CA CORRIDOR TRANSPRTN                           | Alameda Corridor Transportation Authority                                    | CUSIP: 010869GY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524070.35    | 0.33%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                           | Philadelphia Authority for Industrial Development                            | CUSIP: 71781QFE3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    250000 | PA      | $290264.95    | 0.18%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO                          | Mississippi Business Finance Corp                                            | CUSIP: 60528ACE2<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2035-11-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                          | Washington Health Care Facilities Authority                                  | CUSIP: 93978HVT9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    535000 | PA      | $515522.95    | 0.33%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY         | NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (TOBS)                       | CUSIP: 64972GB60<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1641010.08   | 1.04%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN                          | Indiana Finance Authority                                                    | CUSIP: 45471ATD4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    200000 | PA      | $199443.26    | 0.13%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CO HIGH PERFORMANCE TRANSPRTN                           | Colorado High Performance Transportation Enterprise                          | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $148634.06    | 0.09%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                                    | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HHQ8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $262471.63    | 0.17%             | 2064-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INLAND VLY CA DEV AGY SUCCESSO                          | Inland Valley Development Agency                                             | CUSIP: 45750TAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507497.00    | 0.32%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH                            | Cumberland County Municipal Authority                                        | CUSIP: 230614RW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $110128.46    | 0.07%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN HOUSE CA PUBLIC FING                           | Mountain House Public Financing Authority                                    | CUSIP: 62412PBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $753079.80    | 0.48%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 696507UT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $320707.66    | 0.20%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST SPORTS FACS AUTH                            | Illinois Sports Facilities Authority/The                                     | CUSIP: 452143FP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $271367.13    | 0.17%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57584YQJ1<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249981.08    | 0.16%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R                          | Industrial Development Authority of the City of Phoenix Arizona/The          | CUSIP: 71885FDN4<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005209.80   | 0.64%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG                          | Public Finance Authority                                                     | CUSIP: 74439YBF7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030077.20   | 0.65%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST PRIVATE ACTIVITY REVEN                          | State of Ohio                                                                | CUSIP: 67759YAQ0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    700000 | PA      | $703525.27    | 0.45%             | 2053-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTH                           | Louisiana Public Facilities Authority                                        | CUSIP: 54639TCG5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    700000 | PA      | $726488.70    | 0.46%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH HIGHWAY & T                          | Puerto Rico Highway & Transportation Authority                               | CUSIP: 745197AA1<br>LEI: 549300J6QBXVWJXB7Y41 | Long             | DBT              | MUN               | US        |    160000 | PA      | $154400.00    | 0.10%             | 2062-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                          | M-S-R Energy Authority                                                       | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1256752.50   | 0.80%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE                          | California Municipal Finance Authority                                       | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    700000 | PA      | $715149.47    | 0.45%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA                          | Wisconsin Health & Educational Facilities Authority                          | CUSIP: 97712JGT4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    250000 | PA      | $277616.53    | 0.18%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT                          | Allegheny County Hospital Development Authority                              | CUSIP: 01728A5C6<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    350000 | PA      | $351613.64    | 0.22%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682RM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3207682.20   | 2.03%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IN EXEMPT FACS REVE                          | City of Valparaiso IN                                                        | CUSIP: 92028RAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514397.50    | 0.33%             | 2044-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA                          | Chicago O'Hare International Airport                                         | CUSIP: 1675932L5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534445.80    | 0.34%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI                          | Pennsylvania Turnpike Commission                                             | CUSIP: 709224PL7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   3170000 | PA      | $3306130.26   | 2.10%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WSTWTR TRANSMISSION                          | City of Chicago IL Wastewater Transmission Revenue                           | CUSIP: 167727YK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304499.76    | 0.19%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD TX ARPT MODERNIZATI                          | Love Field Airport Modernization Corp                                        | CUSIP: 54714CBJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21253.67     | 0.01%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GULF COAST TX INDL DEV AUTH                             | Gulf Coast Industrial Development Authority                                  | CUSIP: 40220MAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000261.30   | 0.63%             | 2025-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV                          | Colorado Health Facilities Authority                                         | CUSIP: 19648FJJ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $264066.85    | 0.17%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV                          | County of Miami-Dade Seaport Department                                      | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $802065.53    | 0.51%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GA                                    | Municipal Electric Authority of Georgia                                      | CUSIP: 62620HHP0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    350000 | PA      | $368808.83    | 0.23%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARISTA CO MET DIST                                      | Arista Metropolitan District                                                 | CUSIP: 04041AAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $492956.95    | 0.31%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R                          | State of Connecticut Special Tax Revenue                                     | CUSIP: 207758XR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $546180.35    | 0.35%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE                          | County of Broward FL Port Facilities Revenue                                 | CUSIP: 11506KFJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1204002.63   | 0.76%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT                          | North Carolina Turnpike Authority                                            | CUSIP: 65830UAC6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506453.85    | 0.32%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN                          | New Jersey Higher Education Student Assistance Authority                     | CUSIP: 646080QW4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    640000 | PA      | $642874.50    | 0.41%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH                          | Maricopa County Industrial Development Authority                             | CUSIP: 56681NEN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $473349.35    | 0.30%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $336545.54    | 0.21%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES                           | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PCB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527497.00    | 0.33%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE                          | New Jersey Economic Development Authority                                    | CUSIP: 64577XAV8<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1691143.80   | 1.07%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH MIDWESTERN DI                          | Indiana Finance Authority                                                    | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    200000 | PA      | $198909.92    | 0.13%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| REDDING CA REDEV AGY TAX ALLOC                          | Redding Redevelopment Agency                                                 | CUSIP: 757293DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $601425.12    | 0.38%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486ZY8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    300000 | PA      | $319847.46    | 0.20%             | 2038-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254042.55    | 0.16%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                          | Virginia Small Business Financing Authority                                  | CUSIP: 928104MU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $218008.52    | 0.14%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN                          | California Pollution Control Financing Authority                             | CUSIP: 13054WAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $717969.56    | 0.46%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL                          | Maryland Health & Higher Educational Facilities Authority                    | CUSIP: 574217V28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.13%             | 2041-07-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                          | Tarrant County Cultural Education Facilities Finance Corp                    | CUSIP: 87638RKB2<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    700000 | PA      | $727598.69    | 0.46%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA NE PUBLIC PWR DIST ELEC                           | Omaha Public Power District                                                  | CUSIP: 682001HC9<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |    500000 | PA      | $496050.05    | 0.31%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDLD                          | Philadelphia Authority for Industrial Development                            | CUSIP: 71783DBX2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    500000 | PA      | $538962.90    | 0.34%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                          | Virginia Small Business Financing Authority                                  | CUSIP: 928104PL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072336.10   | 0.68%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST                          | Tobacco Securitization Authority of Southern California                      | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $209775.64    | 0.13%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                           | Philadelphia Authority for Industrial Development                            | CUSIP: 71780CAZ3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    400000 | PA      | $401653.92    | 0.25%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486G29<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528195.35    | 0.34%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA                          | Iowa Finance Authority                                                       | CUSIP: 46246SAU9<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    700000 | PA      | $704818.87    | 0.45%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE                          | Port Authority of New York & New Jersey                                      | CUSIP: 73358W5S9<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967025.70    | 0.61%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH                            | Cumberland County Municipal Authority                                        | CUSIP: 230614SH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203938.72    | 0.13%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682RY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3020000 | PA      | $3097009.09   | 1.96%             | 2050-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE AZ FINANCIAL CORP S                          | Salt Verde Financial Corp                                                    | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1591134.45   | 1.01%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEVADA ST HSG DIV                                       | Nevada Housing Division                                                      | CUSIP: 641271Z61<br>LEI: 549300RE377OK3CTT852 | Long             | DBT              | MUN               | US        |    650000 | PA      | $650000.00    | 0.41%             | 2033-04-15      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP ECON                          | Maryland Economic Development Corp                                           | CUSIP: 57420NCU3<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    400000 | PA      | $416921.00    | 0.26%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU DEDICATE                          | Chicago Board of Education                                                   | CUSIP: 167510AU0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012995.80   | 0.64%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN                          | Public Authority for Colorado Energy                                         | CUSIP: 744387AB7<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |    955000 | PA      | $974980.99    | 0.62%             | 2023-11-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $198191.62    | 0.13%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST SPL TAX OBLIG R                          | State of Connecticut Special Tax Revenue                                     | CUSIP: 207758A37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $618615.91    | 0.39%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57584YQE2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513073.75    | 0.33%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                           | Metropolitan Transportation Authority                                        | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    400000 | PA      | $437464.80    | 0.28%             | 2045-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION                           | Texas Municipal Gas Acquisition and Supply Corp I                            | CUSIP: 88256CEX3<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |    550000 | PA      | $584658.42    | 0.37%             | 2026-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP STUD                          | Maryland Economic Development Corp                                           | CUSIP: 57420VRN5<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    350000 | PA      | $332581.62    | 0.21%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    750000 | PA      | $703381.95    | 0.45%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY PA CONVENTION CENTER                          | Erie County Conventional Center Authority                                    | CUSIP: 295193AU0<br>LEI: 5493008VLLM24FN43176 | Long             | DBT              | MUN               | US        |    750000 | PA      | $776644.50    | 0.49%             | 2036-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN JOSE CA MF HSG REVENUE                              | City of San Jose CA                                                          | CUSIP: 798165KP0<br>LEI: 549300QHIHSH68W22O38 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2038-07-01      | Variable      | 1.39%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                             | Indiana Finance Authority                                                    | CUSIP: 45506EBU6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $423231.10    | 0.27%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                          | New York Liberty Development Corp                                            | CUSIP: 649519FB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $576746.66    | 0.37%             | 2052-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL                          | Maryland Health & Higher Educational Facilities Authority                    | CUSIP: 57421CAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $292747.80    | 0.19%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301745.16    | 0.19%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                           | Buckeye Tobacco Settlement Financing Authority                               | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $764002.88    | 0.48%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DETROIT MI DOWNTOWN DEV AUTH T                          | Detroit Downtown Development Authority                                       | CUSIP: 251135GR4<br>LEI: 549300WO3NSMP6FECO66 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251906.15    | 0.16%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD TX ARPT MODERNIZATI                          | Love Field Airport Modernization Corp                                        | CUSIP: 54714CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20943.13     | 0.01%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV                          | Build NYC Resource Corp                                                      | CUSIP: 12008ETL0<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    300000 | PA      | $307538.40    | 0.20%             | 2062-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486P52<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    550000 | PA      | $600593.84    | 0.38%             | 2039-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN NY LOCAL DEV CORP R                          | Brookhaven Local Development Corp                                            | CUSIP: 113168BC1<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |    735000 | PA      | $812953.22    | 0.52%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM CNTY NJ POLL CONTROL FIN                          | Salem County Pollution Control Financing Authority                           | CUSIP: 79410SBN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $537480.47    | 0.34%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE                              | City of Austin TX Airport System Revenue                                     | CUSIP: 052398HW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $316092.45    | 0.20%             | 2052-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWARK HGR EDU FIN CORP TX EDU                          | Newark Higher Education Finance Corp                                         | CUSIP: 650346EA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $265550.01    | 0.17%             | 2056-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                              | Public Finance Authority                                                     | CUSIP: 74442PQU2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100809.55    | 0.06%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                           | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UFM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $316912.00    | 0.20%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE                          | South Carolina Jobs-Economic Development Authority                           | CUSIP: 83703EMQ5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    400000 | PA      | $389724.32    | 0.25%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLOUCESTER CNTY NJ POLL CONTRO                          | Industrial Pollution Control Financing Authority of Gloucester County/The    | CUSIP: 37969RAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $188550.09    | 0.12%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU                          | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011654.10   | 0.64%             | 2040-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB                          | Iowa Tobacco Settlement Authority                                            | CUSIP: 888805CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $136976.46    | 0.09%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JRQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1360683.31   | 0.86%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves | Western Asset Premier Institutional Government Reserves                      | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |     61371 | NS      | $61371.17     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CLARKSVILLE TN WTR SWR & GAS R                          | City of Clarksville TN Water Sewer & Gas Revenue                             | CUSIP: 182618PR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496389.40    | 0.31%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST                           | New Jersey Transportation Trust Fund Authority                               | CUSIP: 646136X71<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   4720000 | PA      | $4973083.57   | 3.15%             | 2032-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                             | City of New York NY                                                          | CUSIP: 64966QAA8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.13%             | 2048-03-01      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN R                          | New York State Thruway Authority                                             | CUSIP: 650010CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $734340.38    | 0.47%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK STATE DORMITORY AUTHORITY                      | NEW YORK STATE DORMITORY AUTHORITY (TOBS)                                    | CUSIP: 64990FYN8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1740000 | PA      | $1725102.12   | 1.09%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA                          | Chicago O'Hare International Airport                                         | CUSIP: 167593QM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1552426.95   | 0.98%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682QJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $412278.60    | 0.26%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS CA PUBLIC FING A                          | River Islands Public Financing Authority                                     | CUSIP: 76827QGR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330625.41    | 0.21%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TROY NY CAPITAL RESOURCE CORP                           | Troy Capital Resource Corp                                                   | CUSIP: 897579BY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486621.35    | 0.31%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FL UTILITIES AUTH                           | Fort Pierce Utilities Authority                                              | CUSIP: 348430PV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147932.39    | 0.09%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE                          | County of Miami-Dade FL Aviation Revenue                                     | CUSIP: 59333P4D7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $674815.77    | 0.43%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $237767.83    | 0.15%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                 | New York State Housing Finance Agency                                        | CUSIP: 64986MJM8<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 0.10%             | 2034-11-01      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| AUSTIN TX ARPT SYS REVENUE                              | City of Austin TX Airport System Revenue                                     | CUSIP: 052398GX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $643118.76    | 0.41%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                          | Utah Charter School Finance Authority                                        | CUSIP: 91754TYA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $371245.21    | 0.24%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 696507VK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $82808.94     | 0.05%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                          | Kentucky Public Energy Authority                                             | CUSIP: 74440DCZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503268.80   | 0.95%             | 2050-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS CNTY MO INDL DEV A                          | St Louis County Industrial Development Authority                             | CUSIP: 791524BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007861.60   | 1.27%             | 2043-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $473432.55    | 0.30%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WTRWKS REVENUE                               | City of Chicago IL Waterworks Revenue                                        | CUSIP: 167736P43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1373246.41   | 0.87%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NAVAJO NATION AZ                                        | Navajo Nation                                                                | CUSIP: 639185AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $199052.06    | 0.13%             | 2030-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH                           | Orange County Health Facilities Authority                                    | CUSIP: 68450LHL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $268980.75    | 0.17%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                          | Northern Tobacco Securitization Corp                                         | CUSIP: 66585VCA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497506.45    | 0.32%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HLTH CARE FACS A                          | Washington Health Care Facilities Authority                                  | CUSIP: 93978HYD1<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    370000 | PA      | $370803.20    | 0.24%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486WX3<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512110.60    | 0.32%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                          | M-S-R Energy Authority                                                       | CUSIP: 55374SAJ9<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2513505.00   | 1.59%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 69651ABZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $368800.08    | 0.23%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                           | Arlington Higher Education Finance Corp                                      | CUSIP: 041806HK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203270.94    | 0.13%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA CONVENTION C                          | Lancaster County Convention Center Authority                                 | CUSIP: 514042BE9<br>LEI: 549300F347A3TMO7B762 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515472.60    | 0.33%             | 2057-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                   | Chicago Board of Education                                                   | CUSIP: 167505VY9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    250000 | PA      | $268531.35    | 0.17%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                          | State of Connecticut                                                         | CUSIP: 20772KGF0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    600000 | PA      | $620862.18    | 0.39%             | 2037-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250EB6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1290615.13   | 0.82%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY                          | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DRK7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032097.90   | 0.65%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                          | New York Transportation Development Corp                                     | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500315.65    | 0.32%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HLTH CARE FACS F                          | New Jersey Health Care Facilities Financing Authority                        | CUSIP: 645790KD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107069.60    | 0.07%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH                          | Kentucky Public Energy Authority                                             | CUSIP: 74440DBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1404168.78   | 0.89%             | 2049-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY                           | New York City Industrial Development Agency                                  | CUSIP: 64971PKL8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    300000 | PA      | $283893.27    | 0.18%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                           | Metropolitan Transportation Authority                                        | CUSIP: 59261AJ65<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $272482.50    | 0.17%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                          | California Public Finance Authority                                          | CUSIP: 13057GAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $237087.55    | 0.15%             | 2027-11-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT                          | Utah Charter School Finance Authority                                        | CUSIP: 91754TSB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256718.03    | 0.16%             | 2042-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250EX8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $906510.30    | 0.58%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L                          | New York Liberty Development Corp                                            | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1203322.04   | 0.76%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA                               | Municipal Electric Authority of Georgia                                      | CUSIP: 6262075E0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $262330.08    | 0.17%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH SENIOR                          | Tulsa County Industrial Authority                                            | CUSIP: 899530AY5<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511197.50    | 0.32%             | 2037-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A                          | Palm Beach County Health Facilities Authority                                | CUSIP: 69651ACD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1570995.16   | 1.00%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R                          | Central Texas Regional Mobility Authority                                    | CUSIP: 155498KQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486460.25    | 0.31%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE                          | New Jersey Economic Development Authority                                    | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517585.70   | 0.96%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC                          | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60635HS26<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    750000 | PA      | $727242.23    | 0.46%             | 2044-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMWLTH FING AUTH PA TOBACCO MA                          | Commonwealth Financing Authority                                             | CUSIP: 20282EAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $221374.70    | 0.14%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CA CORRIDOR TRANSPRTN                           | Alameda Corridor Transportation Authority                                    | CUSIP: 010869JS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $662800.98    | 0.42%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTHRN AK TOBACCO SECURITIZATIO                          | Northern Tobacco Securitization Corp                                         | CUSIP: 66585VBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400591.04    | 0.25%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE                          | County of Broward FL Port Facilities Revenue                                 | CUSIP: 11506KHB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1092461.80   | 0.69%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT                          | Clackamas County Hospital Facility Authority                                 | CUSIP: 179027WP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496351.05    | 0.31%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                   | Chicago Board of Education                                                   | CUSIP: 167505XQ4<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1280493.13   | 0.81%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                          | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542RBK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1197683.61   | 0.76%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA INDL DEV AUTH                              | Lancaster Industrial Development Authority                                   | CUSIP: 514349CY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522223.40    | 0.33%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $869218.86    | 0.55%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                                              | City of Chicago IL                                                           | CUSIP: 167486E21<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502388.40    | 0.32%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST EDUCTNL FACS                          | North Carolina Educational Facilities Finance Agency                         | CUSIP: 657903FG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.25%             | 2027-06-01      | Variable      | 1.45%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                          | Arizona Industrial Development Authority                                     | CUSIP: 04052BPS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $390356.70    | 0.25%             | 2051-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PORT AUTH PORT FAC                          | Virginia Port Authority                                                      | CUSIP: 928077JM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258965.30    | 0.16%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNI ELEC AUTH OF GEORGIA                               | Municipal Electric Authority of Georgia                                      | CUSIP: 6262077J7<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    250000 | PA      | $254088.33    | 0.16%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN                          | Virginia Small Business Financing Authority                                  | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259981.53    | 0.16%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REUNION E FL CDD SPL ASSMNT                             | Reunion East Community Development District                                  | CUSIP: 761311AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $2.85         | 0.00%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH                           | Parish of St John the Baptist LA                                             | CUSIP: 79020FAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $377229.96    | 0.24%             | 2037-06-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE                              | Port of Seattle WA                                                           | CUSIP: 735389V70<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    500000 | PA      | $542580.95    | 0.34%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE AK PORT REVENUE                               | Municipality of Anchorage AK                                                 | CUSIP: 033252AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257689.00    | 0.16%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX INDL DEV CORP                            | Harris County Industrial Development Corp                                    | CUSIP: 414191AC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.13%             | 2032-04-01      | Variable      | 1.09%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                          | M-S-R Energy Authority                                                       | CUSIP: 55374SAH3<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2584957.20   | 1.64%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST MID-BAY BRIDGE AUTH                          | Mid-Bay Bridge Authority                                                     | CUSIP: 342814DG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521650.90    | 0.33%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG                          | Public Finance Authority                                                     | CUSIP: 74439YDW8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    280000 | PA      | $221320.18    | 0.14%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD                          | Michigan Strategic Fund                                                      | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255460.58    | 0.16%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                          | Florida Development Finance Corp                                             | CUSIP: 34061UFW3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    650000 | PA      | $656644.30    | 0.42%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                           | Pennsylvania Economic Development Financing Authority                        | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2524931.04   | 1.60%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO                          | Mississippi Business Finance Corp                                            | CUSIP: 60528AAU8<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.06%             | 2030-12-01      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH EDU R                          | Industrial Development Authority of the City of Phoenix Arizona/The          | CUSIP: 71885FEK9<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1217165.16   | 0.77%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANAHEIM CA PUBLIC FING AUTH LE                          | Anaheim Public Financing Authority                                           | CUSIP: 03255LGV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066984.80   | 1.31%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA                          | Chicago O'Hare International Airport                                         | CUSIP: 167593YL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516939.80    | 0.33%             | 2042-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 4521524T5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    400000 | PA      | $430572.84    | 0.27%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                                           | State of New Jersey                                                          | CUSIP: 646039YM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1422751.00   | 0.90%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILLACY CNTY TX JAIL PUBLIC FA                          | Willacy County Jail Public Facilities Corp                                   | CUSIP: 969095AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $185592.31    | 0.12%             | 2025-11-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST                           | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461365N7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043815.80   | 0.66%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE                          | County of Broward FL Port Facilities Revenue                                 | CUSIP: 11506KFK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $469514.65    | 0.30%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                          | California Community Choice Financing Authority                              | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $535551.50    | 0.34%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL TRANSIT AUTH SALES                           | Chicago Transit Authority Sales Tax Receipts Fund                            | CUSIP: 16772PBT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028216.10   | 0.65%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                   | Chicago Board of Education                                                   | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003761.10   | 0.64%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD CMNTYS DEVA                          | California Statewide Communities Development Authority                       | CUSIP: 13078RFH8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    360000 | PA      | $360065.20    | 0.23%             | 2045-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49300.12     | 0.03%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN                           | New Hope Cultural Education Facilities Finance Corp                          | CUSIP: 64542UCL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002631.50   | 0.64%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                            | Ohio Air Quality Development Authority                                       | CUSIP: 677525WF0<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    350000 | PA      | $319875.19    | 0.20%             | 2042-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE                           | County of Jefferson AL Sewer Revenue                                         | CUSIP: 472682RL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1196661.65   | 0.76%             | 2042-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N RANGE CO MET DIST #2                                  | North Range Metropolitan District No 2                                       | CUSIP: 66176MAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508114.70    | 0.32%             | 2037-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU                          | Texas Private Activity Bond Surface Transportation Corp                      | CUSIP: 882667AL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501884.30    | 0.32%             | 2050-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGL TRANSPRTN AUTH IL                                  | Regional Transportation Authority                                            | CUSIP: 759911XV7<br>LEI: 549300FOIPI62F5YFO59 | Long             | DBT              | MUN               | US        |    930000 | PA      | $1080610.71   | 0.69%             | 2029-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTN                          | Florida Development Finance Corp                                             | CUSIP: 34061UBV9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    215000 | PA      | $216980.95    | 0.14%             | 2046-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                          | Massachusetts Development Finance Agency                                     | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    500000 | PA      | $569811.75    | 0.36%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                            | Michigan Finance Authority                                                   | CUSIP: 59447TUJ0<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    400000 | PA      | $381368.84    | 0.24%             | 2050-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA CMNTY IMPT AUTH CA ESSEN                          | CSCDA Community Improvement Authority                                        | CUSIP: 126292AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $172732.95    | 0.11%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                            | Michigan Finance Authority                                                   | CUSIP: 59447TL92<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |     80000 | PA      | $82450.62     | 0.05%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                           | Philadelphia Authority for Industrial Development                            | CUSIP: 717818L89<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.57%             | 2034-12-01      | Variable      | 1.60%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL WTRWKS REVENUE                               | City of Chicago IL Waterworks Revenue                                        | CUSIP: 167736K71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534897.40    | 0.34%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL                           | Metropolitan Pier & Exposition Authority                                     | CUSIP: 592250CL6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    350000 | PA      | $352080.44    | 0.22%             | 2057-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                          | California Public Finance Authority                                          | CUSIP: 13057GAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $242709.15    | 0.15%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST UNIV                                        | Illinois State University                                                    | CUSIP: 452272B55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $111864.31    | 0.07%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LA PAZ CNTY AZ INDL DEV AUTH E                          | La Paz County Industrial Development Authority                               | CUSIP: 50376FAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022067.50   | 0.65%             | 2036-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO                          | Tennessee Energy Acquisition Corp                                            | CUSIP: 880443JE7<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |    400000 | PA      | $402016.08    | 0.26%             | 2049-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                             | State of Illinois                                                            | CUSIP: 4521522M2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1188981.97   | 0.75%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST STWD CMNTYS DEVA                          | California Statewide Communities Development Authority                       | CUSIP: 13078RFG0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500100.60    | 0.32%             | 2036-01-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA                          | Iowa Finance Authority                                                       | CUSIP: 46246SAV7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    750000 | PA      | $766909.35    | 0.49%             | 2050-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH                           | Parish of St John the Baptist LA                                             | CUSIP: 79020FBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $236768.83    | 0.15%             | 2037-06-01      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                          | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3020000 | PA      | $2879829.72   | 1.83%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUNI AUTH                            | Cumberland County Municipal Authority                                        | CUSIP: 230614QN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $47197.91     | 0.03%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

**Name of Applicant:** Western Asset Municipal High Income Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer