# EDGAR Filing Document

**Accession Number:** 0001771226
**File Stem:** 0001752724-25-210006
**Filing Date:** 2025-8
**Character Count:** 55291
**Document Hash:** 44e377790b512d3c78bed1628db0c99b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210006.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210006

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RiverNorth Managed Duration Municipal Income Fund, Inc.
- **CENTRAL INDEX KEY:** 0001771226

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0120

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23434
- **FILM NUMBER:** 251268079

**BUSINESS ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401
- **BUSINESS PHONE:** 312-445-2251

**MAIL ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RiverNorth Opportunistic Municipal Income Fund II
- **DATE OF NAME CHANGE:** 20190319

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** RiverNorth Managed Duration Municipal Income Fund Inc.

- **b. Investment Company Act file number:** 811-23434

- **c. CIK number of Registrant:** 0001771226

- **d. LEI of Registrant:** 549300Y5L3V48O754353

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

  - **Street Address 1:** 360 S. Rosemary Avenue Suite 1420

  - **City:** West Palm Beach

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33401

  - **Telephone number:** 312-445-2249

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

- **a. Name of Series:** RiverNorth Managed Duration Muni Income Fund Inc.

- **c. LEI of Series:** 549300Y5L3V48O754353

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $291066933.14

**Total Liabilities:** $565957.17

**Net Assets:** $290500975.97

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 144.72089100 | **1-Year:** 11845.64237200 | **5-Year:** 100815.58519900 | **10-Year:** 103963.92198700 | **30-Year:** 52232.82903600

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -4.05%               | 1.03%                | -1.46%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1334780.87             | $-9289315.09                               |
| Month 2  | $-358258.21              | $-2466352.28                               |
| Month 3  | $-443181.07              | $1798890.49                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DZF5<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -4125000 | PA      | $-4125000.00   | -1.42%            | 2028-08-15      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Munivest Fund Inc                                 | BlackRock MuniVest Fund, Inc.                                                | CUSIP: 09253R105<br>LEI: 68LQJ5NLUNQI2T9OLL41 | Long             | EC               | RF                | US        |    661616 | NS      | $4353433.28    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AV73<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3200000 | PA      | $-3200000.00   | -1.10%            | 2030-01-01      | Floating      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Municipal Income Trust                            | BlackRock Municipal Income Trust                                             | CUSIP: 09248F109<br>LEI: R3ITLLW1CUEQICP4XR90 | Long             | EC               | RF                | US        |    440715 | NS      | $4226456.85    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| New York St Dorm Auth St Personal Income Tax Revenue        | New York State Dormitory Authority                                           | CUSIP: 64990FX25<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   6800000 | PA      | $7078009.16    | 2.44%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AZA2<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6000000 | PA      | $-6000000.00   | -2.07%            | 2051-07-01      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Mfs High Yield Municipal Trust                              | MFS High Yield Municipal Trust                                               | CUSIP: 59318E102<br>LEI: A8WLLLHJKX1MW5QPZU93 | Long             | EC               | RF                | US        |     32114 | NS      | $106939.62     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniyield Michigan Quality Fund Inc               | BlackRock MuniYield Michigan Quality Fund, Inc.                              | CUSIP: 09254V105<br>LEI: J3H1DOS8Q2FL9RVLS329 | Long             | EC               | RF                | US        |    115600 | NS      | $1276224.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Vly Nv Wtr Dist                                   | Las Vegas Valley Water District                                              | CUSIP: 517845SF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5073191.50    | 1.75%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Ny                                                 | City of New York NY                                                          | CUSIP: 64966QY87<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7976481.00    | 2.75%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts St Transprtn Fund Revenue                     | Commonwealth of Massachusetts Transportation Fund Revenue                    | CUSIP: 57604TKE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12206514.00   | 4.20%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho St Hsg & Fin Assn Sf Mtge Revenue                     | Idaho Housing & Finance Association                                          | CUSIP: 45129Y5J1<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1442889.98    | 0.50%             | 2054-01-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Texas St Priv Activity Bond Surface Transprtn Corp Revenue  | Texas Private Activity Bond Surface Transportation Corp.                     | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3825768.00    | 1.32%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniholdings Fund Inc                             | BlackRock MuniHoldings Fund, Inc.                                            | CUSIP: 09253N104<br>LEI: MZBVMGS24JR92TGE6Z32 | Long             | EC               | RF                | US        |    485813 | NS      | $5441105.60    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Quality Municipal Income Trust                      | Invesco Quality Municipal Income Trust                                       | CUSIP: 46133G107<br>LEI: WLEGDSEH0E242WVNUY02 | Long             | EC               | RF                | US        |    617077 | NS      | $5788182.26    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Municipal Opportunity Trust                         | Invesco Municipal Opportunity Trust                                          | CUSIP: 46132C107<br>LEI: WERC5RXCUSU16MOTZ848 | Long             | EC               | RF                | US        |    812166 | NS      | $7455683.88    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniholdings California Quality Fund Inc          | BlackRock MuniHoldings California Quality Fund, Inc.                         | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             | EC               | RF                | US        |    262352 | NS      | $2715343.20    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniyield Quality Fund Ii Inc                     | BlackRock MuniYield Quality Fund II, Inc.                                    | CUSIP: 09254G108<br>LEI: PRQP520S3DVB025IWS24 | Long             | EC               | RF                | US        |    160331 | NS      | $1545590.84    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Liquidity Funds Municash                          | BlackRock Liquidity Funds MuniCash                                           | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |  15201026 | NS      | $15202546.19   | 5.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Virginia Small Business Fing Auth Priv Activity Revenue Sr  | Virginia Small Business Financing Authority                                  | CUSIP: 928097AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2435840.42    | 0.84%             | 2056-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DBM6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3750000 | PA      | $-3750000.00   | -1.29%            | 2052-05-01      | Floating      | 2.89%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield New York Quality Fund Inc               | BlackRock MuniYield New York Quality Fund, Inc.                              | CUSIP: 09255E102<br>LEI: 158AYFGDRFUGVL3TD012 | Long             | EC               | RF                | US        |    487357 | NS      | $4644512.21    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Denver City & Cnty Co Sch Dist #1                           | Denver City & County School District No 1                                    | CUSIP: 249174ZN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9500000 | PA      | $10181593.65   | 3.50%             | 2049-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Nuveen Municipal Credit Income Fund                         | Nuveen Municipal Credit Income Fund                                          | CUSIP: 67070X101<br>LEI: 54930078DL3R0VSYW338 | Long             | EC               | RF                | US        |    286174 | NS      | $3411194.08    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniholdings New York Quality Fund Inc            | BlackRock MuniHoldings New York Quality Fund, Inc.                           | CUSIP: 09255C106<br>LEI: YP1D2S6Y4JY0A7W3DV93 | Long             | EC               | RF                | US        |    311975 | NS      | $3063594.50    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MLB9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -7125000 | PA      | $-7125000.00   | -2.45%            | 2049-12-01      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Massachusetts St Sch Bldg Auth Sales Tax Revenue            | Massachusetts School Building Authority                                      | CUSIP: 576000YW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5589467.95    | 1.92%             | 2045-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                      | US 10yr T-Note                                                               | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |     -1700 | NC      | $-190612500.00 | -65.62%           |  |  |  | No            |                  1 | On Loan: No      |
| Pennsylvania St Univ                                        | Pennsylvania State University                                                | CUSIP: 709235B61<br>LEI: 549300QDK4O4XCJ47X56 | Long             | DBT              | MUN               | US        |  11250000 | PA      | $11408221.13   | 3.93%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Invesco Municipal Income Opportunities Trust                | Invesco Municipal Income Opportunities Trust                                 | CUSIP: 46132X101<br>LEI: DJSR2NJ3985722G80Y20 | Long             | EC               | RF                | US        |     78488 | NS      | $451306.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Bny Mellon Strategic Municipal Bond Fund Inc                | BNY Mellon Strategic Municipal Bond Fund, Inc.                               | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             | EC               | RF                | US        |    295214 | NS      | $1653198.40    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco New York Municipal Income Fund                        | PIMCO New York Municipal Income Fund                                         | CUSIP: 72200T103<br>LEI: VSODSLIYXJ7C18SCFD63 | Long             | EC               | RF                | US        |      5919 | NS      | $41373.81      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DQG3<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.75%            | 2045-08-15      | Floating      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp Commodity Project Revenue | Tennessee Energy Acquisition Corporation Gas Revenue Bonds                   | CUSIP: 88044TAL3<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5270305.50    | 1.81%             | 2052-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento Ca Muni Utility Dist Elec Revenue                | Sacramento Municipal Utility District                                        | CUSIP: 786005C89<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $11030134.80   | 3.80%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Iii Inc                    | BlackRock MuniYield Quality Fund III, Inc.                                   | CUSIP: 09254E103<br>LEI: UB5J2GS6Q51M6A2L8886 | Long             | EC               | RF                | US        |    603824 | NS      | $6334113.76    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| S Estrn Pa Transprtn Auth                                   | Southeastern Pennsylvania Transportation Authority                           | CUSIP: 842039FP9<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   3185000 | PA      | $3349688.71    | 1.15%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035EBS1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5200000 | PA      | $-5200000.00   | -1.79%            | 2052-12-01      | Floating      | 2.04%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Fing Corp Sales Tax Revenue           | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                      | CUSIP: 74529JRL1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | PR        |   6032000 | PA      | $5505454.66    | 1.90%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Blackrock Munivest Fund Ii Inc                              | BlackRock MuniVest Fund II, Inc.                                             | CUSIP: 09253T101<br>LEI: TC1SINW7C50S8NN8GU32 | Long             | EC               | RF                | US        |    386392 | NS      | $3987565.44    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen New York Municipal Value Fund                        | Nuveen New York Municipal Value Fund                                         | CUSIP: 67062M105<br>LEI: 549300NZ3QOSIW1ZM615 | Long             | EC               | RF                | US        |     82355 | NS      | $667899.05     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Municipal Trust                                     | Invesco Municipal Trust                                                      | CUSIP: 46131J103<br>LEI: GKS5Y4B1VKHV66WSPK53 | Long             | EC               | RF                | US        |    478172 | NS      | $4375273.80    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco California Municipal Income Fund Iii                  | PIMCO California Municipal Income Fund III                                   | CUSIP: 72201C109<br>LEI: BVT0QWDJNZ8WI4XN5U25 | Long             | EC               | RF                | US        |     45828 | NS      | $285508.44     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035D3X1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2545000 | PA      | $-2545000.00   | -0.88%            | 2029-12-01      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Invesco Trust For Investment Grade Municipals               | Invesco Trust for Investment Grade Municipals                                | CUSIP: 46131M106<br>LEI: V0VF67S6NRLBDK357F71 | Long             | EC               | RF                | US        |    166278 | NS      | $1577978.22    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco California Municipal Income Fund Ii                   | PIMCO California Municipal Income Fund II                                    | CUSIP: 72200M108<br>LEI: 1R86W760D611I8RHLX24 | Long             | EC               | RF                | US        |    186023 | NS      | $997083.28     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniholdings Quality Fund Ii Inc                  | BlackRock MuniHoldings Quality Fund II, Inc.                                 | CUSIP: 09254C107<br>LEI: V04K6JK5YHD4O5SHSC34 | Long             | EC               | RF                | US        |    326207 | NS      | $3125063.06    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| North Carolina St Turnpike Auth                             | North Carolina Turnpike Authority                                            | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |  14000000 | PA      | $14028670.60   | 4.83%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bny Mellon Strategic Municipals Inc                         | BNY Mellon Strategic Municipals, Inc.                                        | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |    347649 | NS      | $2058082.08    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco Municipal Income Fund Ii                              | PIMCO Municipal Income Fund II                                               | CUSIP: 72200W106<br>LEI: ZVT714KPY3QTZWRT1S41 | Long             | EC               | RF                | US        |     97934 | NS      | $729608.30     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035FZG8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -7250000 | PA      | $-7250000.00   | -2.50%            | 2028-09-01      | Floating      | 3.70%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Inc                        | BlackRock MuniYield Quality Fund, Inc.                                       | CUSIP: 09254F100<br>LEI: TFKEE3VA3GBE5LOK5U77 | Long             | EC               | RF                | US        |    837274 | NS      | $9302114.14    | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035HPY6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        | -10500000 | PA      | $-10500000.00  | -3.61%            | 2032-01-01      | Floating      | 2.09%                 | Yes           |                  2 | On Loan: No      |
| Chicago Il O'hare International Arpt Revenue                | Chicago O'Hare International Airport                                         | CUSIP: 167593X56<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10171472.00   | 3.50%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nuveen Municipal Value Fund Inc                             | Nuveen Municipal Value Fund, Inc.                                            | CUSIP: 670928100<br>LEI: 549300TFLBQ7LJSP8B20 | Long             | EC               | RF                | US        |   1013114 | NS      | $8803960.66    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DQA6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6420000 | PA      | $-6420000.00   | -2.21%            | 2027-10-15      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Holly Mi Area Sch Dist                                      | Holly Area School District                                                   | CUSIP: 435866TX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10322920.00   | 3.55%             | 2052-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Missouri St Hlth & Eductnl Facs Auth Hlth Facs Revenue      | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60637AXQ0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3041872.50    | 1.05%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Dc Met Area Transit Auth Dedicated Revenue       | Washington Metropolitan Area Transit Authority Dedicated Revenue             | CUSIP: 93878YDS5<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |  10230000 | PA      | $10370891.65   | 3.57%             | 2048-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Cmwlth Aqueduct & Swr Auth Revenue              | Puerto Rico Commonwealth Aqueduct & Sewer Authority                          | CUSIP: 745160UE9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2500000 | PA      | $2176251.50    | 0.75%             | 2042-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Invesco Advantage Municipal Income Trust Ii                 | Invesco Advantage Municipal Income Trust II                                  | CUSIP: 46132E103<br>LEI: DA89O2CSN0WUDR74HM71 | Long             | EC               | RF                | US        |    260538 | NS      | $2180703.06    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Abrdn National Municipal Income Fund                        | abrdn National Municipal Income Fund                                         | CUSIP: 24610T108<br>LEI: NIC7ULNUGCUI836YP119 | Long             | EC               | RF                | US        |     44904 | NS      | $433772.64     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GZY7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5600000 | PA      | $-5600000.00   | -1.93%            | 2053-11-01      | Floating      | 1.94%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GMM7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8185000 | PA      | $-8185000.00   | -2.82%            | 2048-07-15      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Broward Cnty Fl Sch Dist                                    | School District of Broward County                                            | CUSIP: 115067MC1<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7549180.50    | 2.60%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GUV8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3750000 | PA      | $-3750000.00   | -1.29%            | 2053-06-01      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GR59<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6200000 | PA      | $-6200000.00   | -2.13%            | 2039-07-01      | Floating      | 2.22%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Amt-free Quality Municipal Income Fund               | Nuveen AMT-Free Quality Municipal Income Fund                                | CUSIP: 670657105<br>LEI: 549300OTYQOOXS64NI63 | Long             | EC               | RF                | US        |    990117 | NS      | $10812077.64   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| South Carolina St Public Svc Auth Revenue                   | South Carolina Public Service Authority                                      | CUSIP: 837151U49<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6900574.85    | 2.38%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| San Francisco Calif City &cnty Arpts Commn Intl Arpt Rev    | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DXQ7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3634330.00    | 1.25%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pimco New York Municipal Income Fund Iii                    | PIMCO New York Municipal Income Fund III                                     | CUSIP: 72201E105<br>LEI: R2MUFGRNN5QKX2UD3V35 | Long             | EC               | RF                | US        |      8059 | NS      | $42229.16      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois St                                                 | State of Illinois                                                            | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |  18000000 | PA      | $18612262.80   | 6.41%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DXF7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        | -13500000 | PA      | $-13500000.00  | -4.65%            | 2029-11-01      | Floating      | 2.80%                 | Yes           |                  2 | On Loan: No      |
| California St Univ Revenue                                  | California State University                                                  | CUSIP: 13077DSY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7377865.60    | 2.54%             | 2053-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nuveen Amt-free Municipal Value Fund                        | Nuveen AMT-Free Municipal Value Fund                                         | CUSIP: 670695105<br>LEI: 5493002K5IM2S29FUR04 | Long             | EC               | RF                | US        |    137303 | NS      | $1878305.04    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GZ68<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9600000 | PA      | $-9600000.00   | -3.30%            | 2029-07-01      | Floating      | 2.80%                 | Yes           |                  2 | On Loan: No      |
| New Jersey St Transprtn Trust Fund Auth                     | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461367M7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5023900.00    | 1.73%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salt Lake City Ut Arpt Revenue                              | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576HK6<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   7750000 | PA      | $7703437.23    | 2.65%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Cnty Ca Regl Arpt Auth Airport Revenue            | San Diego County Regional Airport Authority                                  | CUSIP: 79739GNA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12117510.00   | 4.17%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                      | US Long Bond Future                                                          | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |      -350 | NC      | $-40414062.50  | -13.91%           |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Amt-free Municipal Credit Income Fund                | Nuveen AMT-Free Municipal Credit Income Fund                                 | CUSIP: 67071L106<br>LEI: 549300LBMO1C0IG71T03 | Long             | EC               | RF                | US        |    718510 | NS      | $8571824.30    | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Municipal Bond Fund                             | Eaton Vance Municipal Bond Fund                                              | CUSIP: 27827X101<br>LEI: 5493006Q4EBOXVQBQD12 | Long             | EC               | RF                | US        |    112615 | NS      | $1088987.05    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen New York Amt-free Quality Municipal Income Fund      | Nuveen New York AMT-Free Quality Municipal Income Fund                       | CUSIP: 670656107<br>LEI: 549300V4X2BF3UXSCQ58 | Long             | EC               | RF                | US        |     61985 | NS      | $614271.35     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Gtr Asheville Regl Arpt Auth Nc Arpt Sys Revenue            | Greater Asheville Regional Airport Authority                                 | CUSIP: 39160CAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4111318.40    | 1.42%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Columbus Oh Regl Arpt Auth Revenue                          | Columbus Regional Airport Authority                                          | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2925000 | PA      | $3021091.22    | 1.04%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Connecticut St                                              | State of Connecticut                                                         | CUSIP: 20772KRY7<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |   8565000 | PA      | $8426550.20    | 2.90%             | 2038-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California St Infrastructure & Econ Dev Bank Revenue        | California Infrastructure & Economic Development Bank                        | CUSIP: 13034AV49<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2247001.64    | 0.77%             | 2047-10-01      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| Stetson University Inc                                      | Stetson University, Inc.                                                     | CUSIP: 85984XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1802287.05    | 0.62%             | 2059-12-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GXN3<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9600000 | PA      | $-9600000.00   | -3.30%            | 2031-06-01      | Floating      | 1.92%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Pennsylvania Quality Municipal Income Fund           | Nuveen Pennsylvania Quality Municipal Income Fund                            | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |    134068 | NS      | $1504242.96    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal 2030 Target Term Trust                  | BlackRock Municipal 2030 Target Term Trust                                   | CUSIP: 09257P105<br>LEI: 549300TDIJ2J8F6X3N04 | Long             | EC               | RF                | US        |    446469 | NS      | $9773206.41    | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal Income Trust Ii                         | BlackRock Municipal Income Trust II                                          | CUSIP: 09249N101<br>LEI: 17UVWS2OK706BUPLKK60 | Long             | EC               | RF                | US        |    846359 | NS      | $8497444.36    | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Kansas City Mo Indl Dev Auth Arpt Spl Oblig                 | Kansas City Industrial Development Authority                                 | CUSIP: 48504NCL1<br>LEI: 549300QWDXL46XQC8110 | Long             | DBT              | MUN               | US        |   9670000 | PA      | $9458485.19    | 3.26%             | 2057-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Ny Bridge & Tunnel Auth Revenues                 | Triborough Bridge & Tunnel Authority                                         | CUSIP: 89602RDV4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |  11250000 | PA      | $11329783.88   | 3.90%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan St Trunk Line                                      | State of Michigan Trunk Line Revenue                                         | CUSIP: 5946954N5<br>LEI: CADMV8WVNQO7XM117W54 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10765939.00   | 3.71%             | 2044-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Western Asset Intermediate Muni Fund                        | Western Asset Intermediate Municipal Fund                                    | CUSIP: 958435109<br>LEI: 5493000MG5MROBD48K57 | Long             | EC               | RF                | US        |     77177 | NS      | $580371.04     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DZH1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5100000 | PA      | $-5100000.00   | -1.76%            | 2030-03-15      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Putnam Municipal Opportunities Trust                        | Putnam Municipal Opportunities Trust                                         | CUSIP: 746922103<br>LEI: 549300M74BR4G95PSL96 | Long             | EC               | RF                | US        |     59490 | NS      | $588356.10     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mfs High Income Municipal Trust                             | MFS High Income Municipal Trust                                              | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             | EC               | RF                | US        |    460361 | NS      | $1648092.38    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88034U6B9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9000000 | PA      | $-9000000.00   | -3.10%            | 2026-05-15      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Pimco California Municipal Income Fund                      | PIMCO California Municipal Income Fund                                       | CUSIP: 72200N106<br>LEI: M4DHYCROG6SFNO22X437 | Long             | EC               | RF                | US        |    145722 | NS      | $1251751.98    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Puerto Rico Cmwlth                                          | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   2000000 | PA      | $1927484.60    | 0.66%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AE64<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -7500000 | PA      | $-7500000.00   | -2.58%            | 2052-08-01      | Floating      | 1.98%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Long-term Municipal Advantage Trust               | BlackRock Long-Term Municipal Advantage Trust                                | CUSIP: 09250B103<br>LEI: G3XW7SJTEWPATVFP0M68 | Long             | EC               | RF                | US        |     81589 | NS      | $748171.13     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock New York Municipal Income Trust                   | BlackRock New York Municipal Income Trust                                    | CUSIP: 09248L106<br>LEI: PJKTUMDJPIZ89SB71052 | Long             | EC               | RF                | US        |    112951 | NS      | $1092236.17    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal Income Quality Trust                    | BlackRock Municipal Income Quality Trust                                     | CUSIP: 092479104<br>LEI: ZQ1Z8W71OQGQTC6ZJ410 | Long             | EC               | RF                | US        |    238193 | NS      | $2515318.08    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Ny                                                 | City of New York NY                                                          | CUSIP: 64966QF96<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1601810.10    | 0.55%             | 2040-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Blackrock Investment Quality Municipal Trust Inc/the        | BlackRock Investment Quality Municipal Trust, Inc.                           | CUSIP: 09247D105<br>LEI: HIQUII1IK2OOB2XHIJ72 | Long             | EC               | RF                | US        |    239631 | NS      | $2616770.52    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88034XXV9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3750000 | PA      | $-3750000.00   | -1.29%            | 2028-12-15      | Floating      | 2.07%                 | Yes           |                  2 | On Loan: No      |
| Pimco New York Municipal Income Fund Ii                     | PIMCO New York Municipal Income Fund II                                      | CUSIP: 72200Y102<br>LEI: P1IBOVZHA4PI2PLT9Q65 | Long             | EC               | RF                | US        |     23794 | NS      | $159895.68     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco Municipal Income Fund                                 | PIMCO Municipal Income Fund                                                  | CUSIP: 72200R107<br>LEI: 1G5AFDQ1J4RKDZ2JDZ73 | Long             | EC               | RF                | US        |     11762 | NS      | $93860.76      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Municipal High Income Advantage Fund Inc            | Pioneer Municipal High Income Advantage Fund, Inc.                           | CUSIP: 723762100<br>LEI: UE8ZNXHQH48NNA19I459 | Long             | EC               | RF                | US        |    176124 | NS      | $1461829.20    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035FP20<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -7500000 | PA      | $-7500000.00   | -2.58%            | 2052-05-01      | Floating      | 1.97%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield Fund Inc                                | BlackRock MuniYield Fund, Inc.                                               | CUSIP: 09253W104<br>LEI: AVXF9RZVI4EDWXACOH81 | Long             | EC               | RF                | US        |    756782 | NS      | $7598091.28    | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Port Auth Of New York & New Jersey Ny                       | Port Authority of New York & New Jersey                                      | CUSIP: 73358XFS6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10297945.00   | 3.54%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MBX2<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2800000 | PA      | $-2800000.00   | -0.96%            | 2032-11-01      | Floating      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Quality Municipal Income Fund                        | Nuveen Quality Municipal Income Fund                                         | CUSIP: 67066V101<br>LEI: 549300RDIO25ZNWCOA97 | Long             | EC               | RF                | US        |   1204428 | NS      | $13597992.12   | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Puerto Rico Cmwlth Aqueduct &swr Auth Revenue               | Puerto Rico Commonwealth Aqueduct & Sewer Authority                          | CUSIP: 745160TH4<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   2465000 | PA      | $2143251.19    | 0.74%             | 2042-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Berman Municipal Fund Inc                         | Neuberger Berman Municipal Fund, Inc.                                        | CUSIP: 64124P101<br>LEI: 549300IIZWX8QVUHXO20 | Long             | EC               | RF                | US        |    101565 | NS      | $998383.95     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88034U5Z7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -9000000 | PA      | $-9000000.00   | -3.10%            | 2026-09-01      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GMW5<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -7500000 | PA      | $-7500000.00   | -2.58%            | 2044-11-15      | Floating      | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                    | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DSM8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -8000000 | PA      | $-8000000.00   | -2.75%            | 2030-01-01      | Floating      | 2.10%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035M8K4<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -6000000 | PA      | $-6000000.00   | -2.07%            | 2039-04-01      | Floating      | 2.78%                 | Yes           |                  2 | On Loan: No      |
| Western Asset Managed Municipals Fund Inc                   | Western Asset Managed Municipals Fund, Inc.                                  | CUSIP: 95766M105<br>LEI: 549300HVO8EY2T8K4F73 | Long             | EC               | RF                | US        |    748299 | NS      | $7408160.10    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** RiverNorth Managed Duration Municipal Income Fund Inc.

**Signature:** Jonathan M. Mohrhardt

**Name of Signer:** Jonathan M. Mohrhardt

**Title:** Treasurer & Chief Financial Officer