# EDGAR Filing Document

**Accession Number:** 0000774013
**File Stem:** 0001752724-23-012251
**Filing Date:** 2023-1
**Character Count:** 91879
**Document Hash:** f37eb827a09e56341e980570a15ac923
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-012251.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-012251

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK MULTI STATE MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000774013
- **IRS NUMBER:** 226437104
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04375
- **FILM NUMBER:** 23551401

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH MULTI STATE MUNICIPAL SERIES TRUST
- **DATE OF NAME CHANGE:** 20051212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH N Y MUNI BD FD OF M L MULTI ST MUNI SER TRUST
- **DATE OF NAME CHANGE:** 19930225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH MULTI STATE TAX EXEMPT SERIES TRUST
- **DATE OF NAME CHANGE:** 19871206

## Series and Classes Contracts Data

### BlackRock Pennsylvania Municipal Bond Fund (Series ID: S000004035)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000011317 | Investor A1   |  |
| C000011320 | Institutional |  |
| C000038303 | Investor A    |  |
| C000038305 | Investor C    |  |
| C000038306 | Service       |  |
| C000199770 | Class K       |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Multi State Municipal Series Trust

- **b. Investment Company Act file number:** 811-04375

- **c. CIK number of Registrant:** 0000774013

- **d. LEI of Registrant:** 549300FRPGSGLXTBXJ40

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

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Pennsylvania Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000004035

- **c. LEI of Series:** G7BEIGRWM2OT1UVZZC25

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $423342482.16

**Total Liabilities:** $8352345.83

**Net Assets:** $414990136.33

**Delayed Delivery Securities:** $1284241.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 41.38000000 | **1-Year:** 8003.63000000 | **5-Year:** 116449.43000000 | **10-Year:** 54013.43000000 | **30-Year:** 103622.60000000

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

- **3-Month:** 28.75000000 | **1-Year:** 1569.93000000 | **5-Year:** 5672.57000000 | **10-Year:** 16868.48000000 | **30-Year:** 31917.14000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000011317 | -4.82%               | -0.93%               | 4.78%                |
| Class ID C000199770 | -4.82%               | -0.92%               | 4.91%                |
| Class ID C000038306 | -4.83%               | -0.94%               | 4.88%                |
| Class ID C000011320 | -4.82%               | -0.92%               | 4.90%                |
| Class ID C000038303 | -4.83%               | -0.94%               | 4.88%                |
| Class ID C000038305 |  |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7958286.04             | $-17253286.07                              |
| Month 2  | $-1617112.11             | $-4231758.93                               |
| Month 3  | $-4554421.25             | $23413677.73                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| City of Lancaster PA                                                    | LANCASTER PA                                                 | CUSIP: 514282XW7<br>LEI: 549300BGOEKNNN4HPE68 | Long             | DBT              | MUN               | US        |   3720000 | PA      | $3503380.68   | 0.84%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Susquehanna Area Regional Airport Authority                             | SUSQUEHANNA PA AREA REGL ARPTAUTH SYS REVENUE                | CUSIP: 86909RBH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2203968.80   | 0.53%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University/The                                       | PENNSYLVANIA ST UNIV                                         | CUSIP: 709235B79<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   2615000 | PA      | $2769593.57   | 0.67%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $236129.38    | 0.06%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTH                                | CUSIP: 165588EN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3465558.75   | 0.84%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTH SPL OBLIG REVENUE              | CUSIP: 16559WAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    483000 | PA      | $465500.43    | 0.11%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bethlehem Redevelopment Authority                                       | BETHLEHEM PA REDEV AUTH UNIV REVENUE                         | CUSIP: 087470AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $334270.40    | 0.08%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                      | PITTSBURGH PA WTR & SWR AUTH                                 | CUSIP: 725304VA4<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   2045000 | PA      | $2158274.60   | 0.52%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lehigh County Industrial Development Authority                          | LEHIGH CNTY PA INDL DEV AUTH CHRT SCH REVENUE                | CUSIP: 52481MAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1114776.21   | 0.27%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                           | BUCKS CNTY PA INDL DEV AUTH HOSP REVENUE                     | CUSIP: 11861MBM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1778540.00   | 0.43%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority           | ALLENTOWN PA NEIGHBORHOOD IMPTZONE DEV AUTH TAX REV          | CUSIP: 018444BZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3770000 | PA      | $3666057.33   | 0.88%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northampton County Industrial Development Authority                     | NORTHAMPTON CNTY PA INDL DEV AUTH TAX INCREMENT FING REVENUE | CUSIP: 663562AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1433820.75   | 0.35%             | 2032-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Allentown Neighborhood Improvement Zone Development Authority           | ALLENTOWN PA NEIGHBORHOOD IMPTZONE DEV AUTH TAX REV          | CUSIP: 018444BC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $297681.12    | 0.07%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TES6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $156693.60    | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686DZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1357294.02   | 0.33%             | 2044-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                 | PHILADELPHIA PA ARPT REVENUE                                 | CUSIP: 717817XW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1008347.85   | 0.24%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QPY3<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $950274.23    | 0.23%             | 2041-10-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| East Hempfield Township Industrial Development Authority                | E HEMPFIELD TWP PA INDL DEV AUTH                             | CUSIP: 273007BV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1248609.92   | 0.30%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                                  | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045F40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $945877.25    | 0.23%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XFZ1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    250000 | PA      | $232007.00    | 0.06%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                         | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A3X2<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   4300000 | PA      | $4143351.00   | 1.00%             | 2037-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224XK0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3108283.80   | 0.75%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTH                                | CUSIP: 165588FJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3666256.00   | 0.88%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917SJM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $371478.02    | 0.09%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tredyffrin Easttown School District                                     | TREDYFFRIN-EASTTOWN PA SCH DIST                              | CUSIP: 894673SV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1208006.16   | 0.29%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Latrobe Industrial Development Authority                                | LATROBE PA INDL DEV AUTH UNIV REVENUE                        | CUSIP: 518324AU2<br>LEI: 5493008FA05J2R0XCZ14 | Long             | DBT              | MUN               | US        |    515000 | PA      | $420586.08    | 0.10%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225EU6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1780000 | PA      | $1288698.64   | 0.31%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XFU2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    485000 | PA      | $451930.28    | 0.11%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XGD9<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2010000 | PA      | $1876851.57   | 0.45%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917SV67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $831022.74    | 0.20%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Allegheny School District                                         | NORTH ALLEGHENY PA SCH DIST                                  | CUSIP: 656678VJ5<br>LEI: 549300MJH200V28PJP95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $981660.00    | 0.24%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                         | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A5V4<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2865000 | PA      | $2904889.40   | 0.70%             | 2047-11-15      | Floating      | 2.60%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                   | CUMBERLAND CNTY PA MUNI AUTH                                 | CUSIP: 230614NJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    645000 | PA      | $580585.14    | 0.14%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Catasauqua Area School District                                         | CATASAUQUA PA AREA SCH DIST                                  | CUSIP: 149045SB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2255000 | PA      | $2150165.05   | 0.52%             | 2042-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224P45<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2192833.03   | 0.53%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sports & Exhibition Authority of Pittsburgh and Allegheny County        | PITTSBURGH & ALLEGHENY CNTY PA SPORTS & EXHIBITION AUTH COMW | CUSIP: 724790AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7165000 | PA      | $7165000.00   | 1.73%             | 2038-11-01      | Floating      | 1.91%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                             | COATESVILLE PA AREA SCH DIST                                 | CUSIP: 190684PT1<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $1270651.23   | 0.31%             | 2037-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE           | CUSIP: 71780CBA7<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    585000 | PA      | $523790.28    | 0.13%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                             | COATESVILLE PA AREA SCH DIST                                 | CUSIP: 190684PQ7<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    290000 | PA      | $174089.03    | 0.04%             | 2034-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PHX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2620000 | PA      | $2631323.64   | 0.63%             | 2042-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                         | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1690530.00   | 0.41%             | 2042-06-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                   | CUMBERLAND CNTY PA MUNI AUTH                                 | CUSIP: 230614QR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $450203.98    | 0.11%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225ET9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    825000 | PA      | $872560.43    | 0.21%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH UPMC REVENUE              | CUSIP: 70870JAZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3761364.00   | 0.91%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1759619.55   | 0.42%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue              | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221VE2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1594036.50   | 0.38%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                  | US LONG BOND(CBT) MAR23                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -83 | NC      | $-89079.09    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224DT3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5740000 | PA      | $2136864.24   | 0.51%             | 2042-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                           | BUCKS CNTY PA INDL DEV AUTH HOSP REVENUE                     | CUSIP: 11861MAP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1500177.51   | 0.36%             | 2044-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Delaware County Authority                                               | DELAWARE CNTY PA AUTH                                        | CUSIP: 245913LU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1851301.97   | 0.45%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TER8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103922.30    | 0.03%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| St Mary Hospital Authority                                              | SAINT MARY PA HOSP AUTH                                      | CUSIP: 792222FT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2084934.83   | 0.50%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4797000 | PA      | $4325733.13   | 1.04%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Springfield School District/Delaware County                             | SPRINGFIELD PA SCH DIST DELAWARE CNTY                        | CUSIP: 851347TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1807372.53   | 0.44%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Industrial Development Authority                              | LANCASTER PA INDL DEV AUTH                                   | CUSIP: 514349CX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $662328.27    | 0.16%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Hempfield Township Industrial Development Authority                | E HEMPFIELD TWP PA INDL DEV AUTH                             | CUSIP: 273007AR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $775605.20    | 0.19%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northampton County General Purpose Authority                            | NORTHAMPTON CNTY PA GEN PURPOSE AUTH HOSP REVENUE            | CUSIP: 66353RCD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1355040.90   | 0.33%             | 2046-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XDW0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   4780000 | PA      | $3820195.12   | 0.92%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                         | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A4A1<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1967733.30   | 0.47%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                               | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 7178237Q5<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1246102.80   | 0.30%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XGA5<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    800000 | PA      | $688051.20    | 0.17%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware County Regional Water Quality Control Authority                | DELAWARE CNTY PA REGL WTR QUALITY CONTROL AUTH               | CUSIP: 246045LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980000 | PA      | $989811.76    | 0.24%             | 2033-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTH SPL OBLIG REVENUE              | CUSIP: 16559WAC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    916000 | PA      | $847719.53    | 0.20%             | 2048-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Bethlehem Area School District                                          | BETHLEHEM PA AREA SCH DIST                                   | CUSIP: 087365UL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2505632.98   | 0.60%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| East Hempfield Township Industrial Development Authority                | E HEMPFIELD TWP PA INDL DEV AUTH                             | CUSIP: 273007BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $666630.72    | 0.16%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                               | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 7178237R3<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    600000 | PA      | $619646.40    | 0.15%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bethlehem Redevelopment Authority                                       | BETHLEHEM PA REDEV AUTH UNIV REVENUE                         | CUSIP: 087470AP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $299968.02    | 0.07%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XGB3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    745000 | PA      | $772582.88    | 0.19%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Redevelopment Authority of The County of Washington                     | WASHINGTON CNTY PA REDEV AUTH REVENUE                        | CUSIP: 938618AC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $601869.60    | 0.15%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                  | US 10YR NOTE (CBT)MAR23                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -53 | NC      | $-46669.64    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Aliquippa Municipal Water Authority Water & Sewer Revenue               | ALIQUIPPA PA MUNI WTR AUTH                                   | CUSIP: 016332FH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2405000 | PA      | $2144209.02   | 0.52%             | 2051-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue              | PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU | CUSIP: 709221VL6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   3215000 | PA      | $3309299.17   | 0.80%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QNV1<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1432761.75   | 0.35%             | 2051-10-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XGC1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    675000 | PA      | $676148.18    | 0.16%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE           | CUSIP: 71780CBQ2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    625000 | PA      | $588412.50    | 0.14%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                | CHESTER CNTY PA HLTH & EDU FACS AUTH HLTH SYS REVENUE        | CUSIP: 16557HFH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $930809.09    | 0.22%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                      | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893Z79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3440739.60   | 0.83%             | 2047-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225EA0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1580000 | PA      | $1027957.48   | 0.25%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Lancaster PA                                                  | LANCASTER CNTY PA                                            | CUSIP: 5140404B7<br>LEI: 549300W9YR5FSCHLO756 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510046.00    | 0.12%             | 2034-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                         | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A5C6<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2160490.50   | 0.52%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                               | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 7178237P7<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    900000 | PA      | $937865.70    | 0.23%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224WQ8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   5205000 | PA      | $5342156.96   | 1.29%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917SZQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5790000 | PA      | $5853875.28   | 1.41%             | 2034-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV SENIOR LIVING REVENUE      | CUSIP: 717800AC0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   5740000 | PA      | $4167021.88   | 1.00%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3034000 | PA      | $2740876.16   | 0.66%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                             | COATESVILLE PA AREA SCH DIST                                 | CUSIP: 190684PW4<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    980000 | PA      | $588300.86    | 0.14%             | 2034-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                      | S ESTRN PA TRANSPRTN AUTH                                    | CUSIP: 842039FQ7<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   3695000 | PA      | $4039495.94   | 0.97%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                           | DOYLESTOWN PA HOSP AUTH                                      | CUSIP: 261333FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1239364.50   | 0.30%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westmoreland County Industrial Development Authority/PA                 | WESTMORELAND CNTY PA INDL DEV AUTH HLTH SYS REVENUE          | CUSIP: 960875AM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $910963.04    | 0.22%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of Pittsburgh-of the Commonwealth System of Higher Education | UNIV OF PITTSBURGH PA OF THE CMWLTH SYS OF HGR EDU           | CUSIP: 91335VKV7<br>LEI: 5493002C83QSGL8ETT42 | Long             | DBT              | MUN               | US        |   3620000 | PA      | $3636782.32   | 0.88%             | 2024-02-15      | Floating      | 2.26%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 7092248P7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15000000.00  | 3.61%             | 2039-12-01      | Floating      | 1.86%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XFF5<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   8090000 | PA      | $7946742.28   | 1.91%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania State University/The                                       | PENNSYLVANIA ST UNIV                                         | CUSIP: 709235E76<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |   3935000 | PA      | $4253971.10   | 1.03%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TEW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $216812.72    | 0.05%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224VB2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2635345.27   | 0.64%             | 2042-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                      | S ESTRN PA TRANSPRTN AUTH                                    | CUSIP: 842039FR5<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2167272.00   | 0.52%             | 2052-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Altoona Area School District                                            | ALTOONA PA AREA SCH DIST                                     | CUSIP: 021807LN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2895000 | PA      | $3040404.27   | 0.73%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Cornwall Township Municipal Authority                              | W CORNWALL TWP PA MUNI AUTH                                  | CUSIP: 95235TAR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $449832.00    | 0.11%             | 2036-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pottsville Hospital Authority/PA                                        | POTTSVILLE PA HOSP AUTH                                      | CUSIP: 738435CP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5067665.00   | 1.22%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                      | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893H87<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3644411.08   | 0.88%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                         | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $279599.06    | 0.07%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Lancaster PA                                                  | LANCASTER CNTY PA                                            | CUSIP: 5140404D3<br>LEI: 549300W9YR5FSCHLO756 | Long             | DBT              | MUN               | US        |    540000 | PA      | $546226.74    | 0.13%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                               | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 7178237S1<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1082001.90   | 0.26%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pittsburgh Water & Sewer Authority                                      | PITTSBURGH PA WTR & SWR AUTH                                 | CUSIP: 725304UC1<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |   3620000 | PA      | $3628014.68   | 0.87%             | 2040-09-01      | Floating      | 2.55%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV UNIV REVENUE               | CUSIP: 71780TBL6<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2193249.63   | 0.53%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE           | CUSIP: 71780CBH2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    395000 | PA      | $284848.72    | 0.07%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $820603.52    | 0.20%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224WR6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029947.00   | 0.25%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Geisinger Authority                                                     | GEISINGER PA AUTH HLTH SYS REVENUE                           | CUSIP: 368497JM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5950000 | PA      | $6128381.00   | 1.48%             | 2039-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Redevelopment Authority of The County of Washington                     | WASHINGTON CNTY PA REDEV AUTH REVENUE                        | CUSIP: 938618AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $194346.95    | 0.05%             | 2023-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TAT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4498580.00   | 1.08%             | 2050-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13335000 | PA      | $12949205.12  | 3.12%             | 2041-06-01      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225GL4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1310251.43   | 0.32%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224QF9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103553.40    | 0.02%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bucks County Industrial Development Authority                           | BUCKS CNTY PA INDL DEV AUTH                                  | CUSIP: 118612MV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1565392.92   | 0.38%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                      | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893Q46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3210000 | PA      | $3403900.05   | 0.82%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV TEMPLE UNIV REVENUE        | CUSIP: 717794AM3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3330000 | PA      | $3399910.02   | 0.82%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917SXT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $479616.00    | 0.12%             | 2036-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                             | COATESVILLE PA AREA SCH DIST                                 | CUSIP: 190684PR5<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |   2565000 | PA      | $1456355.70   | 0.35%             | 2035-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917SJL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2420000 | PA      | $2459349.20   | 0.59%             | 2033-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lehigh County Industrial Development Authority                          | LEHIGH CNTY PA INDL DEV AUTH                                 | CUSIP: 524808BY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $2996847.50   | 0.72%             | 2029-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| St Mary Hospital Authority                                              | SAINT MARY PA HOSP AUTH                                      | CUSIP: 792222FS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4065000 | PA      | $4594189.83   | 1.11%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                   | CUMBERLAND CNTY PA MUNI AUTH                                 | CUSIP: 230614NK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $231628.02    | 0.06%             | 2038-01-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Dallastown Area School District                                         | DALLASTOWN PA AREA SCH DIST                                  | CUSIP: 235452JR1<br>LEI: 549300N3JS8SQXFYT336 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1913341.66   | 0.46%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1643027 | PA      | $1680877.41   | 0.41%             | 2029-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                   | CUMBERLAND CNTY PA MUNI AUTH                                 | CUSIP: 230614SL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2185000 | PA      | $2191902.42   | 0.53%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE           | CUSIP: 71780CAZ3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1126081.08   | 0.27%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware River Joint Toll Bridge Commission                             | DELAWARE RIVER PA JT TOLL BRIDGE COMMISSION                  | CUSIP: 246343LJ4<br>LEI: 549300N6IGAQMI0JLE23 | Long             | DBT              | MUN               | US        |   4045000 | PA      | $4218295.89   | 1.02%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mount Lebanon Hospital Authority                                        | MOUNT LEBANON PA HOSP AUTH                                   | CUSIP: 621820DG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2910000 | PA      | $2688333.66   | 0.65%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Education Assistance Agency                         | PENNSYLVANIA HGR EDU ASSISTANCE AGY LOAN REVENUE             | CUSIP: 70878CAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $469709.50    | 0.11%             | 2048-06-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE           | CUSIP: 71780CBG4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    490000 | PA      | $392913.85    | 0.09%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Industrial Development Authority                              | LANCASTER PA INDL DEV AUTH                                   | CUSIP: 514349CZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $855623.21    | 0.21%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Doylestown Hospital Authority                                           | DOYLESTOWN PA HOSP AUTH                                      | CUSIP: 261333FQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $902145.00    | 0.22%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oxford Area Sewer Authority                                             | OXFORD PA AREA SWR AUTH                                      | CUSIP: 691790CD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2395000 | PA      | $1833638.35   | 0.44%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV    | CUSIP: 20282EAR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2205000 | PA      | $2338777.35   | 0.56%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTH SPL OBLIG REVENUE              | CUSIP: 16559WAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2400089.92   | 0.58%             | 2050-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TEQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $206481.40    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV SENIOR LIVING REVENUE      | CUSIP: 717800AB2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1260000 | PA      | $983955.42    | 0.24%             | 2036-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709225AQ9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    885000 | PA      | $982008.39    | 0.24%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                               | BlackRock Liquidity Funds: MuniCash, Institutional Shares    | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   4432232 | NS      | $4432675.29   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| City of Philadelphia PA Airport Revenue                                 | PHILADELPHIA PA ARPT REVENUE                                 | CUSIP: 717817UK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1843774.20   | 0.44%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                               | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 7178237N2<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    700000 | PA      | $731444.00    | 0.18%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                   | CUMBERLAND CNTY PA MUNI AUTH                                 | CUSIP: 230614SQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $1063808.34   | 0.26%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Williamsport Sanitary Authority                                         | WILLIAMSPORT PA SAN AUTH                                     | CUSIP: 970225ED6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1409286.10   | 0.34%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority/The                                    | BERKS CNTY PA MUNI AUTH UNIV REVENUE                         | CUSIP: 08454AAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $270884.65    | 0.07%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                              | CUSIP: 717813XP9<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1642671.80   | 0.40%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | CUSIP: 708686EP1<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.48%             | 2038-12-01      | Floating      | 2.80%                 | No            |                  2 | On Loan: No      |
| Northampton County General Purpose Authority                            | NORTHAMPTON CNTY PA GEN PURPOSE AUTH CLG REVENUE             | CUSIP: 66353LDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5906034.00   | 1.42%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Cornwall Township Municipal Authority                              | W CORNWALL TWP PA MUNI AUTH                                  | CUSIP: 95235TAT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    715000 | PA      | $583326.32    | 0.14%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5314000 | PA      | $1338538.15   | 0.32%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                  | US 5YR NOTE (CBT) MAR23                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -46 | NC      | $-39507.61    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Fox Chapel Area School District                                         | FOX CHAPEL PA AREA SCH DIST                                  | CUSIP: 351352LH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6365000 | PA      | $6698831.52   | 1.61%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224P29<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2830955.54   | 0.68%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Kensington Municipal Sanitary Authority                             | NEW KENSINGTON PA MUNI SAN AUTH                              | CUSIP: 646309JJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2055000 | PA      | $1755196.05   | 0.42%             | 2047-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                   | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 613609B88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4962735.00   | 1.20%             | 2040-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Lancaster PA                                                  | LANCASTER CNTY PA                                            | CUSIP: 5140404E1<br>LEI: 549300W9YR5FSCHLO756 | Long             | DBT              | MUN               | US        |    565000 | PA      | $569223.94    | 0.14%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bristol Township School District                                        | BRISTOL TWP PA SCH DIST                                      | CUSIP: 110290MQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2680139.25   | 0.65%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oxford Area Sewer Authority                                             | OXFORD PA AREA SWR AUTH                                      | CUSIP: 691790CE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    915000 | PA      | $515884.32    | 0.12%             | 2055-07-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Allegheny County Sanitary Authority                                     | ALLEGHENY CNTY PA SAN AUTH                                   | CUSIP: 017357E67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4210108.00   | 1.01%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV REVENUES                   | CUSIP: 71781XFV0<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    590000 | PA      | $550892.44    | 0.13%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hospitals & Higher Education Facilities Authority of Philadelphia/The   | PHILADELPHIA PA HOSPS & HGR EDU FACS AUTH                    | CUSIP: 717825QD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1538259.20   | 0.37%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QRY1<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2802084.00   | 0.68%             | 2042-10-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Cumberland County Municipal Authority                                   | CUMBERLAND CNTY PA MUNI AUTH                                 | CUSIP: 230614SR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $186184.98    | 0.04%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PKW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1923556.00   | 0.46%             | 2040-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Hempfield Township Industrial Development Authority                | E HEMPFIELD TWP PA INDL DEV AUTH                             | CUSIP: 273007AS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $456237.00    | 0.11%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| School District of Philadelphia/The                                     | PHILADELPHIA PA SCH DIST                                     | CUSIP: 717883TN2<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1876588.40   | 0.45%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Moon Industrial Development Authority                                   | MOON INDL DEV AUTH PA REVENUE                                | CUSIP: 61543RAT3<br>LEI: 549300CGX4T1GTNHL435 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1931283.00   | 0.47%             | 2045-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mechanicsburg Area School District                                      | MECHANICSBURG PA AREA SCH DIST                               | CUSIP: 583726VG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2122575.84   | 0.51%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lancaster Industrial Development Authority                              | LANCASTER PA INDL DEV AUTH                                   | CUSIP: 514349CW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1195563.33   | 0.29%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917TEU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1209227.30   | 0.29%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mechanicsburg Area School District                                      | MECHANICSBURG PA AREA SCH DIST                               | CUSIP: 583726VJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2259726.61   | 0.54%             | 2042-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Lancaster PA                                                  | LANCASTER CNTY PA                                            | CUSIP: 5140404F8<br>LEI: 549300W9YR5FSCHLO756 | Long             | DBT              | MUN               | US        |    585000 | PA      | $588056.04    | 0.14%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Lancaster PA                                                  | LANCASTER CNTY PA                                            | CUSIP: 5140404C5<br>LEI: 549300W9YR5FSCHLO756 | Long             | DBT              | MUN               | US        |    520000 | PA      | $528042.84    | 0.13%             | 2035-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Pennsylvania Transportation Authority                      | S ESTRN PA TRANSPRTN AUTH                                    | CUSIP: 842039ET2<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $2123140.25   | 0.51%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                              | CUSIP: 717813VW6<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   2140000 | PA      | $2248855.38   | 0.54%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Industrial Development Authority                         | CHESTER CNTY PA INDL DEV AUTH SPL OBLIG REVENUE              | CUSIP: 16559WAD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1181547.52   | 0.28%             | 2035-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4765550.00   | 1.15%             | 2037-08-01      | Floating      | 0.58%                 | No            |                  2 | On Loan: No      |
| Oxford Area Sewer Authority                                             | OXFORD PA AREA SWR AUTH                                      | CUSIP: 691790BW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $142692.85    | 0.03%             | 2035-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Berks County Municipal Authority/The                                    | BERKS CNTY PA MUNI AUTH UNIV REVENUE                         | CUSIP: 08454AAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $719727.81    | 0.17%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224DR7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1820000 | PA      | $807535.82    | 0.19%             | 2040-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                        | PENNSYLVANIA ST TURNPIKE COMMISSION TURNPIKE REVENUE         | CUSIP: 709224GQ6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   4730000 | PA      | $4840213.73   | 1.17%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2180785.60   | 0.53%             | 2039-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Boyertown Area School District                                          | BOYERTOWN PA AREA SCH DIST                                   | CUSIP: 103405QP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1367891.73   | 0.33%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                             | COATESVILLE PA AREA SCH DIST                                 | CUSIP: 190684PX2<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    640000 | PA      | $405216.00    | 0.10%             | 2033-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hospitals & Higher Education Facilities Authority of Philadelphia/The   | PHILADELPHIA PA HOSPS & HGR EDU FACS AUTH                    | CUSIP: 717903L89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023279.00   | 0.25%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                 | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603B32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7550000 | PA      | $6797687.80   | 1.64%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Housing Finance Agency                                     | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE                  | CUSIP: 70879QPZ0<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   5270000 | PA      | $3621048.62   | 0.87%             | 2046-04-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Boyertown Area School District                                          | BOYERTOWN PA AREA SCH DIST                                   | CUSIP: 103405QN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $914205.33    | 0.22%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DuBois Hospital Authority                                               | DUBOIS PA HOSP AUTH                                          | CUSIP: 263804BP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3440000 | PA      | $2900473.84   | 0.70%             | 2048-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Cornwall Township Municipal Authority                              | W CORNWALL TWP PA MUNI AUTH                                  | CUSIP: 95235TAS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $380226.25    | 0.09%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Shore School District/PA                                           | WEST SHORE PA SCH DIST                                       | CUSIP: 955819TH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4045000 | PA      | $4229411.55   | 1.02%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV CHRT SCH REVENUE           | CUSIP: 71780CBJ8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    560000 | PA      | $389596.48    | 0.09%             | 2056-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bethlehem Area School District                                          | BETHLEHEM PA AREA SCH DIST                                   | CUSIP: 087365UM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1875810.81   | 0.45%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Higher Education and Health Authority                 | MONTGOMERY CNTY PA HGR EDU & HLTH AUTH                       | CUSIP: 613603YU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1425002.67   | 0.34%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State Public School Building Authority                                  | STATE PUBLIC SCH BLDG AUTH PA LEASE REVENUE                  | CUSIP: 85732GUH1<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5320820.00   | 1.28%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Higher Educational Facilities Authority                    | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | CUSIP: 70917R7F6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1517328.29   | 0.37%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Shore School District/PA                                           | WEST SHORE PA SCH DIST                                       | CUSIP: 955819TJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2048319.90   | 0.49%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chester County Health and Education Facilities Authority                | CHESTER CNTY PA HLTH & EDU FACS AUTH REVENUE                 | CUSIP: 165579EW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1342534.50   | 0.32%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fox Chapel Area School District                                         | FOX CHAPEL PA AREA SCH DIST                                  | CUSIP: 351352LG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4100000 | PA      | $4348275.50   | 1.05%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA Water & Wastewater Revenue                      | PHILADELPHIA PA WTR & WSTWTR REVENUE                         | CUSIP: 717893D32<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1238862.59   | 0.30%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                       | PHILADELPHIA PA AUTH FOR INDL DEV SENIOR LIVING REVENUE      | CUSIP: 717800AD8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $1595089.10   | 0.38%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Coatesville School District                                             | COATESVILLE PA AREA SCH DIST                                 | CUSIP: 190684PV6<br>LEI: 549300FB4I8E5MPRFX97 | Long             | DBT              | MUN               | US        |    500000 | PA      | $316575.00    | 0.08%             | 2033-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-29

**Name of Applicant:** BlackRock Multi State Municipal Series Trust

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer