# EDGAR Filing Document

**Accession Number:** 0001563696
**File Stem:** 0001410368-25-009057
**Filing Date:** 2025-9
**Character Count:** 60034
**Document Hash:** 4c6d9471b971acd8bf1fc8819e511b96
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-009057.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-009057

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Municipal Income 2028 Term Trust
- **CENTRAL INDEX KEY:** 0001563696

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22777
- **FILM NUMBER:** 251335190

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 800-225-6265

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Eaton Vance Municipal Income Term Trust
- **DATE OF NAME CHANGE:** 20121205

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eaton Vance Municipal Income 2028 Term Trust

- **b. Investment Company Act file number:** 811-22777

- **c. CIK number of Registrant:** 0001563696

- **d. LEI of Registrant:** 549300MBQTU3LRVTCH04

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

  - **Street Address 1:** One Post Office Square

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02109

  - **Telephone number:** 617-482-8260

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

- **a. Name of Series:** Eaton Vance Municipal Income 2028 Term Trust

- **c. LEI of Series:** 549300MBQTU3LRVTCH04

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $209010834.52

**Total Liabilities:** $7946961.70

**Net Assets:** $201063872.82

**Delayed Delivery Securities:** $1028480.00

**Cash Not Reported:** $30965.29

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -528.41000000 | **1-Year:** -11012.52000000 | **5-Year:** -26309.04000000 | **10-Year:** -19268.71000000 | **30-Year:** -12824.52000000

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

- **3-Month:** -221.70000000 | **1-Year:** -3022.73000000 | **5-Year:** -4745.35000000 | **10-Year:** -756.76000000 | **30-Year:** -652.55000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.54%                | 0.81%                | 0.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23778.56                | $556282.14                                 |
| Month 2  | $1191.14                 | $1009292.91                                |
| Month 3  | $168.28                  | $176669.31                                 |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Jersey Economic Development Authority                               | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 645918Z97<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1342408.11   | 0.67%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No 1                               | MATAGORDA CNTY TX NAV DIST #1                                | CUSIP: 576528DP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3130000 | PA      | $3130995.03   | 1.56%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                          | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | CUSIP: 118217CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2085213.40   | 1.04%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                  | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | CUSIP: 13048RAC1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987754.60    | 0.49%             | 2039-02-01      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Harris County Health Facilities Development Corp                        | HARRIS CNTY TX HLTH FACS DEV CORP REVENUE                    | CUSIP: 41315RGV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $330000.00    | 0.16%             | 2041-12-01      | Floating      | 2.80%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                          | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1259185.75   | 0.63%             | 2052-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Bullhead AZ Excise Taxes Revenue                                | BULLHEAD CITY AZ EXCISE TAX REVENUE                          | CUSIP: 12022MAV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $457657.49    | 0.23%             | 2028-07-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                             | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DJR4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $791935.65    | 0.39%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57583RWD3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.15%             | 2042-10-01      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| Northern California Energy Authority                                    | NRTHRN CA ENERGY AUTH COMMODITY SPLY REVENUE                 | CUSIP: 664840AL9<br>LEI: 5493001ZIJGWU7HYLH34 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1163728.17   | 0.58%             | 2054-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                  | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509795.90   | 0.75%             | 2052-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                               | CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                   | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2289110.63   | 1.14%             | 2052-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                  | VERMONT ST ECON DEV AUTH SOLID WST DISP REVENUE              | CUSIP: 924157AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105323.84    | 0.05%             | 2036-04-01      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PAX3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    260000 | PA      | $260101.35    | 0.13%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                  | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972E7D5<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023082.40   | 0.51%             | 2063-11-01      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                          | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 646136ER8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   9095000 | PA      | $8256701.12   | 4.11%             | 2028-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                 | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698TD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2023996.61   | 1.01%             | 2053-06-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                  | VERMONT ST ECON DEV AUTH MTGEREVENUE                         | CUSIP: 92415TBN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $759174.68    | 0.38%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                      | CHICAGO IL                                                   | CUSIP: 167486VV8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    892000 | PA      | $957256.04    | 0.48%             | 2033-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                           | MASSACHUSETTS ST EDUCTNL FING AUTH                           | CUSIP: 57563RLR8<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3005381.70   | 1.49%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Luzerne PA                                                    | LUZERNE CNTY PA                                              | CUSIP: 550697VF0<br>LEI: 5493001Z1Y4QDISEER29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012227.60   | 1.00%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Housing Finance Agency                                             | OHIO ST HSG FIN AGY RSDL MTGE REVENUE                        | CUSIP: 67756UAG3<br>LEI: 549300K10X7VPG6JVX38 | Long             | DBT              | MUN               | US        |    885000 | PA      | $892893.49    | 0.44%             | 2028-09-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Ohio Air Quality Development Authority                                  | OHIO ST AIR QUALITY DEV AUTH                                 | CUSIP: 677525WU7<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014450.90   | 0.50%             | 2030-09-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Rockville MD                                                    | ROCKVILLE MD MAYOR & COUNCIL ECON DEV REVENUE                | CUSIP: 774223AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1116508.80   | 0.56%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kalispel Tribe of Indians                                               | KALISPEL TRIBE OF INDIANS PRIORITY DIST WA REVENUE           | CUSIP: 48340PAR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $709575.75    | 0.35%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | NEW JERSEY ST ECON DEV AUTH REV                              | CUSIP: 64577XDS2<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    675000 | PA      | $745597.91    | 0.37%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE               | CUSIP: 64987J2X8<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1659486.35   | 0.83%             | 2064-11-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                    | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FXC3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    905000 | PA      | $927481.11    | 0.46%             | 2049-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Housing and Finance Authority                                  | COLORADO ST HSG & FIN AUTH                                   | CUSIP: 19648GE99<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1518399.90   | 0.76%             | 2028-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                         | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2116620.20   | 1.05%             | 2055-08-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Rickenbacker Port Authority                                             | RICKENBACKER PORT AUTH OH CAPITAL FUNDING REVENUE            | CUSIP: 765639AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $1042726.27   | 0.52%             | 2032-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2946292.20   | 1.47%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                    | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FBR4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255042.13    | 0.13%             | 2028-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                         | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042421.90   | 0.52%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                             | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2754100 | PA      | $2839238.04   | 1.41%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Rhode Island Housing & Mortgage Finance Corp                            | RHODE ISLAND ST HSG & MTGE FIN CORP                          | CUSIP: 76221SEX5<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1254139.75   | 0.62%             | 2054-10-01      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE               | CUSIP: 64987JY62<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509850.80   | 0.75%             | 2042-05-01      | Floating      | 3.57%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                           | MASSACHUSETTS ST EDUCTNL FING AUTH                           | CUSIP: 57563RTY5<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1169698.99   | 0.58%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                               | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1204918.30   | 0.60%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Offshore Terminal Authority                                   | LOUISIANA ST OFFSHORE TERMINAL AUTH DEEPWATER PORT REVENUE   | CUSIP: 546510FS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012831.90   | 0.50%             | 2027-09-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2364358.95   | 1.18%             | 2045-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                   | FORT BEND TX INDEP SCH DIST                                  | CUSIP: 346843WS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1274532.38   | 0.63%             | 2055-08-01      | Floating      | 3.80%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                              | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505YW0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1303672.38   | 0.65%             | 2030-12-01      | 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: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1830632.80   | 0.91%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                 | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                    | CUSIP: 072024XT4<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   4050000 | PA      | $3961186.34   | 1.97%             | 2056-04-01      | Floating      | 2.59%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                        | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536RN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1049987.51   | 0.52%             | 2043-07-01      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                       | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2138364.40   | 1.06%             | 2031-10-01      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Tempe Industrial Development Authority                                  | TEMPE AZ INDL DEV AUTH REVENUE                               | CUSIP: 87972MAV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1531297.35   | 0.76%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA                     | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252693.50    | 0.13%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH REVENUE                   | CUSIP: 70869PJX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1389263.43   | 0.69%             | 2029-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Governors of Colorado State University System                  | COLORADO ST BRD OF GOVERNORS UNIV ENTERPRISE SYS REVENUE     | CUSIP: 196707V67<br>LEI: 549300MAE3RAIIEIQV71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015117.40   | 0.50%             | 2048-03-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                          | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2107262.60   | 1.05%             | 2049-06-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                    | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FKD5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2081701.80   | 1.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlantic City NJ                                                | ATLANTIC CITY NJ                                             | CUSIP: 048339UG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1443834.01   | 0.72%             | 2028-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| St Louis County Industrial Development Authority                        | SAINT LOUIS CNTY MO INDL DEV AUTH SENIOR LIVING FACS         | CUSIP: 791524CL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $654648.23    | 0.33%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                             | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DFT4<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1446540.12   | 0.72%             | 2054-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Lancaster County Hospital Authority/PA                                  | LANCASTER CNTY PA HOSP AUTH                                  | CUSIP: 514045R96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1031871.70   | 0.51%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Matagorda County Navigation District No 1                               | MATAGORDA CNTY TX NAV DIST #1                                | CUSIP: 576528DQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000953.70   | 1.49%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development Corp                  | BUFFALO & ERIE CNTY NY INDL LAND DEV CORP REVENUE            | CUSIP: 11943KCN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1364894.64   | 0.68%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District                       | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                     | CUSIP: 84136HCF8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2127723.00   | 1.06%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                             | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DJQ6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $524352.65    | 0.26%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Whiting IN                                                      | WHITING IN ENVRNMNTL FACS REVENUE                            | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2533375.50   | 1.26%             | 2044-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| University of North Carolina at Chapel Hill                             | UNIV OF NORTH CAROLINA NC AT CHAPEL HILL  REVENUE            | CUSIP: 914713U75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012712.00   | 1.00%             | 2041-12-01      | Floating      | 3.93%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116FD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2147846.40   | 1.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                               | ALAMEDA CA CORRIDOR TRANSPRTN AUTH REVENUE                   | CUSIP: 010869EH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5805000 | PA      | $4285560.99   | 2.13%             | 2031-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp                                | NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | CUSIP: 650116CK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1146602.59   | 0.57%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southeastern Ohio Port Authority                                        | S ESTRN OH PORT AUTH HOSP FACS REVENUE                       | CUSIP: 841895AX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $985032.80    | 0.49%             | 2029-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | CUSIP: 74526Q2M3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503841.15    | 0.25%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nashville Metropolitan Development & Housing Agency                     | NASHVILLE MET DEV & HSG AGY TN TAX INCR REVENUE              | CUSIP: 591874AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $394299.79    | 0.20%             | 2028-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority                                   | CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM             | CUSIP: 20775HFJ7<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1812922.40   | 0.90%             | 2029-05-15      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                 | PORT AUTH OF NEW YORK & NEW JERSEY NY                        | CUSIP: 73358WML5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9858800.00   | 4.90%             | 2036-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | ILLINOIS ST                                                  | CUSIP: 452152P21<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1561766.85   | 0.78%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                  | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972E4M8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502707.95   | 0.75%             | 2063-05-01      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                              | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505WA0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3046661.10   | 1.52%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                  | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE    | CUSIP: 65820YQU3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    560000 | PA      | $563196.70    | 0.28%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                       | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $851210.00    | 0.42%             | 2029-10-01      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                             | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DFC1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2639637.00   | 1.31%             | 2053-07-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Franklin County Industrial Development Authority/PA                     | FRANKLIN CNTY PA INDL DEV AUTH REVENUE                       | CUSIP: 353273BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253842.10    | 0.13%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Boone KY                                                      | BOONE CNTY KY POLL CONTROL REVENUE                           | CUSIP: 098792AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756676.05    | 0.38%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| City of Sparks NV                                                       | SPARKS NV TOURISM IMPT DIST #1 REVENUE                       | CUSIP: 846562AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $265001.71    | 0.13%             | 2028-06-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                               | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TFG6<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1916138.18   | 0.95%             | 2031-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                             | OHIO ST HGR EDUCTNL FAC COMMISSION                           | CUSIP: 67756AH96<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700000.00   | 0.85%             | 2043-01-01      | Floating      | 2.75%                 | No            |                  2 | On Loan: No      |
| Chandler Industrial Development Authority                               | CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                   | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1989559.80   | 0.99%             | 2049-06-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Amelia County Industrial Development Authority                          | AMELIA CNTY VA INDL DEV AUTH SOL WST DISP REVENUE            | CUSIP: 023445AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $977114.52    | 0.49%             | 2027-04-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency Inc                                                | CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | CUSIP: 14054CAZ2<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    305000 | PA      | $304323.33    | 0.15%             | 2028-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Transportation & Infrastructure Corp                     | VIRGIN ISLANDS TRANSPRTN & INFRASTRUCTURE CORP GRANT ANTIC   | CUSIP: 927686AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059248.60   | 0.53%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp                            | NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE         | CUSIP: 649852AT7<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509192.70    | 0.25%             | 2050-09-01      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Tarrant County Cultural Education Facilities Finance Corp               | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP RETMNT FAC REVENU | CUSIP: 87638RKE6<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    540000 | PA      | $524650.07    | 0.26%             | 2031-11-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pinellas County Educational Facilities Authority                        | PINELLAS CNTY FL EDUCTNL FACS AUTH                           | CUSIP: 723161GY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $311567.39    | 0.15%             | 2028-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                          | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | CUSIP: 09182TDU8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1782445.37   | 0.89%             | 2055-05-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                               | NEW JERSEY ST ECON DEV AUTH SPL FAC REVENUE                  | CUSIP: 64578CBW0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1351416.96   | 0.67%             | 2030-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp V                         | TEXAS ST MUNI GAS ACQUISITION & SPLY CORP V GAS SPLY REVENUE | CUSIP: 88256RAK2<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1842991.68   | 0.92%             | 2055-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Strategic Fund                                                 | MICHIGAN ST STRATEGIC FUND LTD OBLG REVENUE                  | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2485166.50   | 1.24%             | 2061-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Parish of St John the Baptist LA                                        | SAINT JOHN THE BAPTIST PARISH LA REVENUE                     | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1257214.25   | 0.63%             | 2037-06-01      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Vermont Economic Development Authority                                  | VERMONT ST ECON DEV AUTH MTGEREVENUE                         | CUSIP: 92415TBM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505373.10    | 0.25%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lakewood Ranch Stewardship District                                     | LAKEWOOD RANCH FL STEWARDSHIP DIST SPL ASSMNT REVENUE        | CUSIP: 51265KAU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200720.08    | 0.10%             | 2026-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Industrial Development Board of the City of Mobile Alabama              | MOBILE AL INDL DEV BRD POLL CONTROL REVENUE                  | CUSIP: 607167DX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503434.10   | 0.75%             | 2034-07-15      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                                  | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WLB8<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001356.00   | 1.00%             | 2027-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YMF3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    245000 | PA      | $253488.96    | 0.13%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Development Finance Authority                                  | ILLINOIS ST DEV FIN AUTH SOL WST DISP REVENUE                | CUSIP: 451889AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1751574.65   | 0.87%             | 2044-11-01      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                              | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204EEV6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2717138.22   | 1.35%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Housing Revenue      | WISCONSIN ST HSG & ECON DEV AUTH HSG REVENUE                 | CUSIP: 9769045G3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1789719.54   | 0.89%             | 2055-11-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | CUSIP: 64971XFY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 0.65%             | 2045-08-01      | Floating      | 2.75%                 | No            |                  2 | On Loan: No      |
| Northside Independent School District                                   | NORTHSIDE TX INDEP SCH DIST                                  | CUSIP: 66702RR79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1771771.58   | 0.88%             | 2050-06-01      | Floating      | 3.55%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                  | IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE              | CUSIP: 46246SAW5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064019.80   | 0.53%             | 2050-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Industrial Development Authority of the City of Phoenix Arizona/The     | PHOENIX AZ INDL DEV AUTH MF HSG REVENUE                      | CUSIP: 718903RV1<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001122.90   | 0.50%             | 2059-02-01      | Floating      | 3.10%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                             | WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | CUSIP: 939783TA4<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005438.90   | 0.50%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                  | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAN4<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   3680000 | PA      | $3892278.59   | 1.94%             | 2054-10-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                   | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1506297.15   | 0.75%             | 2041-07-01      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                   | MONTGOMERY CNTY PA INDL DEV AUTH                             | CUSIP: 613609G34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1431109.87   | 0.71%             | 2028-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education                                              | CHICAGO IL BRD OF EDU                                        | CUSIP: 167505VZ6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514089.45    | 0.26%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp                                       | GRAND PARKWAY TRANSPRTN CORP TX SYS TOLL REVENUE             | CUSIP: 38611TAG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1604050.80   | 0.80%             | 2030-10-01      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009HG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95142.48     | 0.05%             | 2028-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency                         | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE   | CUSIP: 345105HE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2092866.60   | 1.04%             | 2027-01-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency                         | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE   | CUSIP: 345105HK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $907042.61    | 0.45%             | 2032-01-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                    | PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | CUSIP: 74526Q2P6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5032400.00   | 2.50%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                   | NEW YORK ST HSG FIN AGY ST PERSONAL INCOME TAX REVENUE       | CUSIP: 649870NG3<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002652.00   | 0.50%             | 2054-06-15      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                      | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64985SBZ5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3168202.50   | 1.58%             | 2048-07-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Education Facilities Finance Corp                     | NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | CUSIP: 64542UDP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1163405.99   | 0.58%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                | NATIONAL FIN AUTH NH REVENUE                                 | CUSIP: 63607YAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4499977.95   | 2.24%             | 2027-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                   | LOUISIANA ST PUBLIC FACS AUTHREVENUE                         | CUSIP: 546398Q76<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2395000 | PA      | $2276155.55   | 1.13%             | 2038-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Iowa Finance Authority                                                  | IOWA ST FIN AUTH SOL WST FACS REVENUE                        | CUSIP: 46246YAB8<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    825000 | PA      | $825792.83    | 0.41%             | 2042-01-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| Clairton Municipal Authority                                            | CLAIRTON PA MUNI AUTH SWR REVENUE                            | CUSIP: 179630DE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1605609.57   | 0.80%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clairton Municipal Authority                                            | CLAIRTON PA MUNI AUTH SWR REVENUE                            | CUSIP: 179630DF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $588966.51    | 0.29%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Montgomery County Industrial Development Authority/PA                   | MONTGOMERY CNTY PA INDL DEV AUTH EXEMPT FACS REVENUE         | CUSIP: 61361TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015996.20   | 0.51%             | 2053-04-01      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp IV                        | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP IV                  | CUSIP: 88256PAG5<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2129167.60   | 1.06%             | 2054-01-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | PUBLIC FIN AUTH WI EXEMPT FACS REVENUE                       | CUSIP: 74443QAE2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2977609.20   | 1.48%             | 2030-11-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL                                                      | CHICAGO IL                                                   | CUSIP: 167486MM8<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1851048.88   | 0.92%             | 2035-01-01      | Fixed         | 7.78%                 | No            |                  2 | On Loan: No      |
| Prosper Independent School District                                     | PROSPER TX INDEP SCH DIST                                    | CUSIP: 7436006C7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030465.90   | 0.51%             | 2053-02-15      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Lee County Industrial Development Authority/FL                          | LEE CNTY FL INDL DEV AUTH HLTHCR FACS REVENUE                | CUSIP: 52349EER7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008687.40   | 0.50%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-15

**Name of Applicant:** Eaton Vance Municipal Income 2028 Term Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer