# EDGAR Filing Document

**Accession Number:** 0000886043
**File Stem:** 0000940400-26-014695
**Filing Date:** 2026-4
**Character Count:** 310743
**Document Hash:** 004f073d32afe247fe8d9b24b2243f02
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-014695.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0000940400-26-014695

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260227

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET MANAGED MUNICIPALS FUND INC.
- **CENTRAL INDEX KEY:** 0000886043

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06629
- **FILM NUMBER:** 26892834

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGED MUNICIPALS PORTFOLIO INC
- **DATE OF NAME CHANGE:** 19920929

## Nport-Ex

Schedule of Investments (unaudited)

February 28, 2026

***If you need assistance accessing this content, please reach out to your sales representative or send an email to*** <u>accessibility@franklintempleton.com.</u>

 **Western Asset Managed Municipals Fund Inc.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount<br>| Value |
| **Municipal Bonds — 139.5%** | **Municipal Bonds — 139.5%** | **Municipal Bonds — 139.5%** | **Municipal Bonds — 139.5%** | **Municipal Bonds — 139.5%** |
| *Alabama — 4.0%* | *Alabama — 4.0%* | *Alabama — 4.0%* | *Alabama — 4.0%* | *Alabama — 4.0%* |
| &nbsp;&nbsp;&nbsp; Baldwin County, AL, IDA Revenue, Solid Waste Disposal Bonds, Novelis Corp. <br> Project, Series A  | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $504341<br> <sup>(a)(b)(c)(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, AL, Gas Project Revenue Bonds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project No 6, Series B | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/26 | &nbsp;&nbsp; 710000 | &nbsp;&nbsp;&nbsp; 716551<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/35 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2499987<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/35 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 558235<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D-1, Refunding | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp; 1125562<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/1/28 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2400686<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hoover, AL, IDA Revenue, United States Steel Corp. Project, Series 2019  | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 10/1/49 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; 913104<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jefferson County, AL, Sewer Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants, Series 2024, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1618157<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants, Series 2024, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/49 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp; 3690644<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants, Series 2024, Refunding | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/1/53 | &nbsp;&nbsp; 2110000 | &nbsp;&nbsp;&nbsp; 2238681<br>|
| &nbsp;&nbsp;&nbsp; Mobile County, AL, IDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solid Waste Disposal Facility, Calvert LLC Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/54 | &nbsp;&nbsp; 1670000 | &nbsp;&nbsp;&nbsp; 1657791<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solid Waste Disposal Facility, Calvert LLC Project, Series B | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 12/1/54 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1197921<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Southeast Alabama Gas Supply District, Gas Supply Revenue, Project No 1, <br> Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2180490<br>|
| &nbsp;&nbsp;&nbsp; Southeast Energy Authority, AL, Cooperative District, Energy Supply Revenue, <br> Series B  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp; 3050000 | &nbsp;&nbsp;&nbsp; 3268431<br> <sup>(c)(e)</sup><br>|
| *Total Alabama* | *Total Alabama* | *Total Alabama* | *Total Alabama* | &nbsp;&nbsp; *24570581* |
| *Alaska — 0.7%* | *Alaska — 0.7%* | *Alaska — 0.7%* | *Alaska — 0.7%* | *Alaska — 0.7%* |
| &nbsp;&nbsp;&nbsp; Alaska State Housing Finance Corp. Revenue, State Capital Project II, Series <br> B, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/38 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 799229<br>|
| &nbsp;&nbsp;&nbsp; Anchorage, AK, Port Revenue, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/50 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1323971<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern Tobacco Securitization Corp., AK, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 1, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/41 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp;&nbsp; 1688921<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Senior Bonds, Class 1, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/50 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 633123<br>|
| *Total Alaska* | *Total Alaska* | *Total Alaska* | *Total Alaska* | &nbsp;&nbsp; *4445244* |
| *Arizona — 5.0%* | *Arizona — 5.0%* | *Arizona — 5.0%* | *Arizona — 5.0%* | *Arizona — 5.0%* |
| &nbsp;&nbsp;&nbsp; Arizona State IDA, Education Revenue, Basis School Project, Credit <br> Enhanced, Series F, Refunding, SD Credit Program  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/52 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp; 725972<br>|
| &nbsp;&nbsp;&nbsp; Chandler, AZ, IDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. Project | &nbsp;&nbsp; 3.800% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1785136<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. Project | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1325274<br> <sup>(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intel Corp. Project | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp; 3498810<br> <sup>(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Navajo Nation, AZ, Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 1225000 | &nbsp;&nbsp;&nbsp; 1226809<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Queen Creek, AZ, Excise Tax & State Shared Revenue, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/42 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 783439<br>|
| &nbsp;&nbsp;&nbsp; Salt Verde, AZ, Financial Corp., Natural Gas Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007 | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 12/1/28 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2115319<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp; 13290458<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/37 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp; 6131806<br>|
| *Total Arizona* | *Total Arizona* | *Total Arizona* | *Total Arizona* | &nbsp;&nbsp; *30883023* |
| *Arkansas — 0.2%* | *Arkansas — 0.2%* | *Arkansas — 0.2%* | *Arkansas — 0.2%* | *Arkansas — 0.2%* |
| &nbsp;&nbsp;&nbsp; Arkansas State Development Finance Authority, Environmental Improvement <br> Revenue, United States Steel Corp. Project, Green Bonds | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 5/1/53 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; *1073713*<br> <sup>(b)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *California — 17.7%* | *California — 17.7%* | *California — 17.7%* | *California — 17.7%* | *California — 17.7%* |
| &nbsp;&nbsp;&nbsp; Alameda, CA, Corridor Transportation Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible CAB, Series C, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; $2650000 | &nbsp;&nbsp;&nbsp; $2751145<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Subordinated Lien, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2278683<br>|
| &nbsp;&nbsp;&nbsp; California State Community Choice Financing Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/28 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 870393<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp;&nbsp; 8988213<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series B-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp; 3297751<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1623883<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/32 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp;&nbsp; 8099580<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series G | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp; 3663685<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Energy Project, Green Bonds, Series H | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/33 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;&nbsp; 3572428<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State Health Facilities Financing Authority Revenue, Lucile Salter <br> Packard Children's Hospital at Stanford  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/56 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 504752<br>|
| &nbsp;&nbsp;&nbsp; California State MFA Revenue, Senior Lien, LINXS APM Project, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/43 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp;&nbsp; 4474129<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State PCFA Water Furnishing Revenue, Poseidon Resources <br> Desalination Project  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/21/45 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp;&nbsp; 13517488<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Folsom Cordova, CA, USD: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; School Facilities Improvement District No 4, GO, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp; 1730000 | &nbsp;&nbsp;&nbsp; 2088672<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; School Facilities Improvement District No 5, GO, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp; 2175000 | &nbsp;&nbsp;&nbsp; 2625931<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; School Facilities Improvement District No 5, GO, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/38 | &nbsp;&nbsp; 1795000 | &nbsp;&nbsp;&nbsp; 2145482<br>|
| &nbsp;&nbsp;&nbsp; Los Angeles, CA, Department of Airports Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Los Angeles International Airport, Subordinated, Series C, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 5/15/36 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 831250<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Los Angeles International Airport, Subordinated, Series C, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 5/15/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 516077<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Los Angeles International Airport, Subordinated, Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/38 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 523682<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Los Angeles International Airport, Subordinated, Series F, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 5/15/49 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1843563<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Los Angeles, CA, Department of Water & Power, Power System Revenue, <br> Series C  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2039880<br>|
| &nbsp;&nbsp;&nbsp; Los Angeles, CA, Department of Water & Power, Waterworks Revenue, <br> Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2029337<br>|
| &nbsp;&nbsp;&nbsp; M-S-R Energy Authority, CA, Natural Gas Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 11/1/34 | &nbsp;&nbsp; 3430000 | &nbsp;&nbsp;&nbsp; 4262259<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 11/1/34 | &nbsp;&nbsp; 2490000 | &nbsp;&nbsp;&nbsp; 3094176<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp; 10021565<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2505391<br>|
| &nbsp;&nbsp;&nbsp; River Islands, CA, Public Financing Authority, Special Tax Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2003-1 | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp; 589560<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2003-1 | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 9/1/52 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; 1454541<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Community Facilities District No 2023-1 | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 9/1/53 | &nbsp;&nbsp; 1070000 | &nbsp;&nbsp;&nbsp; 1111276<br>|
| &nbsp;&nbsp;&nbsp; San Diego County, CA, Regional Airport Authority Revenue, Series B  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1547892<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; San Francisco, CA, City & County Airport Commission, International Airport <br> Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Series A, Unrefunded | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/47 | &nbsp;&nbsp; 10635000 | &nbsp;&nbsp;&nbsp; 10711302<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SFO Fuel Company LLC, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/47 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1520196<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tobacco Securitization Authority of Southern California Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Refunding, San Diego County Tobacco Asset Securitization <br> Corp., Class 1, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/39 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 528674<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *California — continued* | *California — continued* | *California — continued* | *California — continued* | *California — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Refunding, San Diego County Tobacco Asset Securitization <br> Corp., Class 1, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/48 | &nbsp;&nbsp; $800000 | &nbsp;&nbsp;&nbsp; $809540<br>|
| &nbsp;&nbsp;&nbsp; Tulare, CA, Sewer Revenue, Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/41 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2002944<br>|
| *Total California* | *Total California* | *Total California* | *Total California* | &nbsp;&nbsp; *108445320* |
| *Colorado — 5.5%* | *Colorado — 5.5%* | *Colorado — 5.5%* | *Colorado — 5.5%* | *Colorado — 5.5%* |
| &nbsp;&nbsp;&nbsp; Base Village Metropolitan District No 2, CO, GO, Series A, Refunding  | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000453<br>|
| &nbsp;&nbsp;&nbsp; Colorado State Educational & Cultural Facilities Authority Revenue, <br> University of Denver Project, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/47 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; 1615227<br>|
| &nbsp;&nbsp;&nbsp; Colorado State Health Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonspirit Health Initiatives, Series B-2 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1301409<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonspirit Health Project, Series A-2, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/49 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2226845<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Improvement Second Tier Bonds, Bethesda Project | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/15/54 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp; 2222344<br>|
| &nbsp;&nbsp;&nbsp; Colorado State High Performance Transportation Enterprise Revenue, C-470 <br> Express Lanes  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/51 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 799959<br>|
| &nbsp;&nbsp;&nbsp; Denver, CO, Airport System Revenue, Subordinated, Series B, Refunding  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 11/15/34 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3474757<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Public Authority for Colorado Energy, Natural Gas Purchase Revenue  | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 11/15/38 | &nbsp;&nbsp; 15700000 | &nbsp;&nbsp;&nbsp; 19448064<br>|
| &nbsp;&nbsp;&nbsp; Southern Ute Indian Tribe Reservation, CO, GO, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1961918<br> <sup>(a)</sup><br>|
| *Total Colorado* | *Total Colorado* | *Total Colorado* | *Total Colorado* | &nbsp;&nbsp; *34050976* |
| *Connecticut — 0.3%* | *Connecticut — 0.3%* | *Connecticut — 0.3%* | *Connecticut — 0.3%* | *Connecticut — 0.3%* |
| &nbsp;&nbsp;&nbsp; Connecticut State, GO, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/15/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 514701<br>|
| &nbsp;&nbsp;&nbsp; Harbor Point, CT, Infrastructure Improvement District, Special Obligation <br> Revenue, Harbor Point Project Ltd., Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/39 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1167380<br> <sup>(a)</sup><br>|
| *Total Connecticut* | *Total Connecticut* | *Total Connecticut* | *Total Connecticut* | &nbsp;&nbsp; *1682081* |
| *Delaware — 0.1%* | *Delaware — 0.1%* | *Delaware — 0.1%* | *Delaware — 0.1%* | *Delaware — 0.1%* |
| &nbsp;&nbsp;&nbsp; Delaware State Health Facilities Authority Revenue, Beebe Medical Center <br> Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/48 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; *487753*<br>|
| *District of Columbia — 1.1%* | *District of Columbia — 1.1%* | *District of Columbia — 1.1%* | *District of Columbia — 1.1%* | *District of Columbia — 1.1%* |
| &nbsp;&nbsp;&nbsp; District of Columbia Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KIPP DC Issue, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 820009<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KIPP DC Project, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp; 2806782<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Washington, DC, Airports Authority Aviation Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1633529<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1663107<br> <sup>(b)</sup><br>|
| *Total District of Columbia* | *Total District of Columbia* | *Total District of Columbia* | *Total District of Columbia* | &nbsp;&nbsp; *6923427* |
| *Florida — 5.8%* | *Florida — 5.8%* | *Florida — 5.8%* | *Florida — 5.8%* | *Florida — 5.8%* |
| &nbsp;&nbsp;&nbsp; Broward County, FL, Airport System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/47 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; 1612359<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000514<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Broward County, FL, Port Facilities Revenue, Series 2022  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 433464<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Capital Trust, FL, Authority Educational Facilities Revenue, AIDS Healthcare <br> Foundation Obligated Group, Series A  | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 12/1/42 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 512458<br>|
| &nbsp;&nbsp;&nbsp; Fort Pierce, FL, Utilities Authority Revenue, Series A, Refunding, AG  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; 820851<br>|
| &nbsp;&nbsp;&nbsp; Greater Orlando, FL, Aviation Authority, Airport Facilities Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Priority Subordinated, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 510183<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Priority Subordinated, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/47 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1513638<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hillsborough County, FL, Aviation Authority Revenue, Tampa International <br> Airport, Series E  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/43 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1283105<br> <sup>(b)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Florida — continued* | *Florida — continued* | *Florida — continued* | *Florida — continued* | *Florida — continued* |
| &nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Aviation Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/41 | &nbsp;&nbsp; $3000000 | &nbsp;&nbsp;&nbsp; $3030154<br>|
| &nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Expressway Authority, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp; 9013156<br>|
| &nbsp;&nbsp;&nbsp; Miami-Dade County, FL, Seaport Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Bonds, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/47 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2036075<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Bonds, Series A, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2558386<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Okaloosa County, FL, IDR, Air Force Enlisted Village Inc. Project  | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 5/15/55 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 205431<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Orange County, FL, Health Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orlando Health Inc., Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/53 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1341419<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orlando Health Inc., Series A, Refunding | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 10/1/56 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1120035<br>|
| &nbsp;&nbsp;&nbsp; Palm Beach County, FL, Health Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acts Retirement-Life Communities | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 759372<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jupiter Medical Center Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/52 | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;&nbsp; 2841730<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, <br> Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/41 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp; 609291<br>|
| &nbsp;&nbsp;&nbsp; Pasco County, FL, Capital Improvement, Cigarette Tax Allocation Bonds, H. <br> Lee Moffitt Cancer Center Project, Series A, AG  | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 9/1/54 | &nbsp;&nbsp; 2175000 | &nbsp;&nbsp;&nbsp; 2356773<br>|
| &nbsp;&nbsp;&nbsp; Volusia County, FL, EFA Revenue, Educational Facilities Embry-Riddle <br> Aeronautical University Inc. Project, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/47 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1010839<br>|
| &nbsp;&nbsp;&nbsp; Wildwood, FL, Village Community Development District No 15, Special <br> Assessment Revenue, Series 2024  | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 5/1/55 | &nbsp;&nbsp; 795000 | &nbsp;&nbsp;&nbsp; 776598<br> <sup>(a)</sup><br>|
| *Total Florida* | *Total Florida* | *Total Florida* | *Total Florida* | &nbsp;&nbsp; *35345831* |
| *Georgia — 1.5%* | *Georgia — 1.5%* | *Georgia — 1.5%* | *Georgia — 1.5%* | *Georgia — 1.5%* |
| &nbsp;&nbsp;&nbsp; Cobb County, GA, Kennestone Hospital Authority Revenue, Wellstar Health <br> System, Inc. Project, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/50 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1269807<br>|
| &nbsp;&nbsp;&nbsp; Georgia State Municipal Electric Authority, Power Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3&4, Project M, Series A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/64 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1190554<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3&4, Project P, Series A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 7/1/64 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 777982<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plant Vogtle Units 3&4, Project P, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/56 | &nbsp;&nbsp; 1295000 | &nbsp;&nbsp;&nbsp; 1297571<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project One, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/50 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1269970<br>|
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas Inc., GA, Gas Project Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/43 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp; 1485658<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/30 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; 1728046<br> <sup>(c)(e)</sup><br>|
| *Total Georgia* | *Total Georgia* | *Total Georgia* | *Total Georgia* | &nbsp;&nbsp; *9019588* |
| *Guam — 0.2%* | *Guam — 0.2%* | *Guam — 0.2%* | *Guam — 0.2%* | *Guam — 0.2%* |
| &nbsp;&nbsp;&nbsp; Guam Government, Business Privilege Tax Revenue, Series F, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/36 | &nbsp;&nbsp; 1230000 | &nbsp;&nbsp;&nbsp; *1254279*<br>|
| *Hawaii — 0.4%* | *Hawaii — 0.4%* | *Hawaii — 0.4%* | *Hawaii — 0.4%* | *Hawaii — 0.4%* |
| &nbsp;&nbsp;&nbsp; Honolulu, HI, City & County Wastewater System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Senior Bond Resolution, Series A | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1853312<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Senior Bond Resolution, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 836220<br>|
| *Total Hawaii* | *Total Hawaii* | *Total Hawaii* | *Total Hawaii* | &nbsp;&nbsp; *2689532* |
| *Idaho — 0.2%* | *Idaho — 0.2%* | *Idaho — 0.2%* | *Idaho — 0.2%* | *Idaho — 0.2%* |
| &nbsp;&nbsp;&nbsp; Idaho State Health Facilities Authority Revenue, Trinity Health Credit Group, <br> Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/47 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp; *1116701*<br>|
| *Illinois — 16.3%* | *Illinois — 16.3%* | *Illinois — 16.3%* | *Illinois — 16.3%* | *Illinois — 16.3%* |
| &nbsp;&nbsp;&nbsp; Chicago, IL, Board of Education, Dedicated Capital Improvement, Special Tax <br> Revenue, Series 2018  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/42 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2018975<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* |
| &nbsp;&nbsp;&nbsp; Chicago, IL, Board of Education, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series A | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 12/1/47 | &nbsp;&nbsp; $3000000 | &nbsp;&nbsp;&nbsp; $3100571<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series G, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/34 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100674<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series G, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/44 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 741010<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series H | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/36 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 500679<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated, Series H | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp;&nbsp; 5136271<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 8435000 | &nbsp;&nbsp;&nbsp; 8023046<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 1/1/35 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1041930<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 1/1/49 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp; 306542<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, O'Hare International Airport Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Senior Lien, Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2605039<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/47 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 503342<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/52 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 501866<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 787836<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TrIPS Obligated Group | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; 905121<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/51 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1254068<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/45 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 517964<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/55 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;&nbsp; 1643629<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Wastewater Transmission Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/47 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp;&nbsp; 2713758<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series A, AG | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/1/53 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 523490<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1524919<br>|
| &nbsp;&nbsp;&nbsp; Chicago, IL, Waterworks Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series 2017, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; 1877385<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series 2017-2, Refunding, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp; 1290000 | &nbsp;&nbsp;&nbsp; 1341174<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series 2017-2, Refunding, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/37 | &nbsp;&nbsp; 3610000 | &nbsp;&nbsp;&nbsp; 3727769<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien, Series 2017-2, Refunding, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/38 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2062088<br>|
| &nbsp;&nbsp;&nbsp; Cook County, IL, Sales Tax Revenue, Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/41 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2517521<br>|
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northshore University Healthsystem, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/15/40 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp; 2400622<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Surface Freight Transfer Facilities, Centerpoint Joliet Terminal Railroad <br> Project | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 7/2/35 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp; 2206072<br> <sup>(a)(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority, Student Housing & Academic Facilities <br> Revenue, CHF Chicago LLC, University of Illinois Chicago Project  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/50 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 478094<br>|
| &nbsp;&nbsp;&nbsp; Illinois State Sports Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sport Facilities Project, Series 2019, Refunding, BAM | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 787349<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sport Facilities Project, Series 2019, Refunding, BAM | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 267654<br>|
| &nbsp;&nbsp;&nbsp; Illinois State Toll Highway Authority Revenue, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/46 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 3773211<br>|
| &nbsp;&nbsp;&nbsp; Illinois State, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2003482<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3043401<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp; 2148832<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/34 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2202785<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/36 | &nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp; 976590<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/37 | &nbsp;&nbsp; $750000 | &nbsp;&nbsp;&nbsp; $812120<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/39 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; 2679430<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/46 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2307102<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 5095000 | &nbsp;&nbsp;&nbsp; 5424337<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 531255<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/41 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4306296<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/27 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp; 2504069<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/28 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 781682<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, IL, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/15/42 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp; 2075088<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/15/47 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1342181<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp; 8150000 | &nbsp;&nbsp;&nbsp; 8178337<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1563437<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McCormick Place Expansion Project, Series B-1, Refunding, AG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 6/15/47 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 1147576<br>|
| *Total Illinois* | *Total Illinois* | *Total Illinois* | *Total Illinois* | &nbsp;&nbsp; *99917669* |
| *Indiana — 1.7%* | *Indiana — 1.7%* | *Indiana — 1.7%* | *Indiana — 1.7%* | *Indiana — 1.7%* |
| &nbsp;&nbsp;&nbsp; Indiana State Finance Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHI Senior Living Inc., Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/41 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2217305<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marion General Hospital, Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1090246<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwestern Disaster Relief, Ohio Valley Electric Corp. Project, Series A | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1201468<br>|
| &nbsp;&nbsp;&nbsp; Indianapolis, IN, Local Public Improvement Bond Bank: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Courthouse & Jail Project, Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/1/44 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2002707<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Courthouse & Jail Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/54 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 865561<br>|
| &nbsp;&nbsp;&nbsp; Valparaiso, IN, Exempt Facilities Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pratt Paper LLC Project, Refunding | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 1/1/34 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1252478<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pratt Paper LLC Project, Refunding | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1542370<br> <sup>(a)(b)</sup><br>|
| *Total Indiana* | *Total Indiana* | *Total Indiana* | *Total Indiana* | &nbsp;&nbsp; *10172135* |
| *Iowa — 0.1%* | *Iowa — 0.1%* | *Iowa — 0.1%* | *Iowa — 0.1%* | *Iowa — 0.1%* |
| &nbsp;&nbsp;&nbsp; Iowa State Tobacco Settlement Authority Revenue, Asset Backed Senior <br> Bonds, Class 1, Series A-2, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/49 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; *642801*<br>|
| *Kentucky — 1.3%* | *Kentucky — 1.3%* | *Kentucky — 1.3%* | *Kentucky — 1.3%* | *Kentucky — 1.3%* |
| &nbsp;&nbsp;&nbsp; Kentucky State Economic Development Finance Authority Revenue, Louisville <br> Arena, Louisville Arena Authority Inc., Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1014208<br>|
| &nbsp;&nbsp;&nbsp; Kentucky State PEA, Gas Supply Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 12/1/29 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1297370<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/36 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; 5500563<br>|
| *Total Kentucky* | *Total Kentucky* | *Total Kentucky* | *Total Kentucky* | &nbsp;&nbsp; *7812141* |
| *Louisiana — 1.9%* | *Louisiana — 1.9%* | *Louisiana — 1.9%* | *Louisiana — 1.9%* | *Louisiana — 1.9%* |
| &nbsp;&nbsp;&nbsp; Port New Orleans, LA, Board of Commissioners Revenue, Series B, <br> Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/43 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2543366<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; St. John the Baptist Parish, LA, State Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series A-3, Refunding | &nbsp;&nbsp; 2.200% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2246854<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series B-2, Refunding | &nbsp;&nbsp; 2.375% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 4650000 | &nbsp;&nbsp;&nbsp; 4646153<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series C, Refunding | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 7/3/28 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2544090<br> <sup>(c)(e)</sup><br>|
| *Total Louisiana* | *Total Louisiana* | *Total Louisiana* | *Total Louisiana* | &nbsp;&nbsp; *11980463* |

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Maryland — 0.6%* | *Maryland — 0.6%* | *Maryland — 0.6%* | *Maryland — 0.6%* | *Maryland — 0.6%* |
| &nbsp;&nbsp;&nbsp; Maryland State EDC, Senior Student Housing Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan State University Project | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; $500000 | &nbsp;&nbsp;&nbsp; $488811<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan State University Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1141017<br>|
| &nbsp;&nbsp;&nbsp; Maryland State Stadium Authority, Built to Learn Revenue, Series 2021  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp; 1845000 | &nbsp;&nbsp;&nbsp; 1796953<br>|
| *Total Maryland* | *Total Maryland* | *Total Maryland* | *Total Maryland* | &nbsp;&nbsp; *3426781* |
| *Massachusetts — 2.6%* | *Massachusetts — 2.6%* | *Massachusetts — 2.6%* | *Massachusetts — 2.6%* | *Massachusetts — 2.6%* |
| &nbsp;&nbsp;&nbsp; Massachusetts State DFA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boston Medical Center, Sustainability Bonds, Series G, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/52 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; 1797467<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Charter School, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp; 1875196<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northeastern University Issue, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/44 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp; 2969169<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UMass Boston Student Housing Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/48 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; 914920<br>|
| &nbsp;&nbsp;&nbsp; Massachusetts State Port Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bosfuel Project, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1518291<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp; 1801747<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; 5159640<br> <sup>(b)</sup><br>|
| *Total Massachusetts* | *Total Massachusetts* | *Total Massachusetts* | *Total Massachusetts* | &nbsp;&nbsp; *16036430* |
| *Michigan — 2.8%* | *Michigan — 2.8%* | *Michigan — 2.8%* | *Michigan — 2.8%* | *Michigan — 2.8%* |
| &nbsp;&nbsp;&nbsp; Great Lakes, MI, Water Authority, Sewage Disposal System Revenue, Senior <br> Lien, Series C  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2111086<br>|
| &nbsp;&nbsp;&nbsp; Great Lakes, MI, Water Authority, Water Supply System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1138505<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 6790000 | &nbsp;&nbsp;&nbsp; 6811602<br>|
| &nbsp;&nbsp;&nbsp; Kent County, MI, Gerald R. Ford International Airport, GO, Authority Revenue, <br> County GTD  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/51 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1020180<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michigan State Finance Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Henry Ford Health Detroit South Campus Central Utility Plant Project, <br> Act 38 Facilities, Senior Green Bonds | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 2/28/57 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1041916<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco Settlement Asset Backed Senior Bonds, Series B-1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/49 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp; 90302<br>|
| &nbsp;&nbsp;&nbsp; Michigan State HFA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascension Health Senior Credit Group Project Bonds, Series F4, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/47 | &nbsp;&nbsp; 865000 | &nbsp;&nbsp;&nbsp; 961550<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascension Health Senior Credit Group Project Bonds, Series F4, <br> Unrefunded | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/47 | &nbsp;&nbsp; 2135000 | &nbsp;&nbsp;&nbsp; 2187340<br>|
| &nbsp;&nbsp;&nbsp; Michigan State Strategic Fund Ltd. Obligation Revenue, I-75 Improvement <br> Project  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/43 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; 1827371<br> <sup>(b)</sup><br>|
| *Total Michigan* | *Total Michigan* | *Total Michigan* | *Total Michigan* | &nbsp;&nbsp; *17189852* |
| *Missouri — 0.3%* | *Missouri — 0.3%* | *Missouri — 0.3%* | *Missouri — 0.3%* | *Missouri — 0.3%* |
| &nbsp;&nbsp;&nbsp; Missouri State HEFA Revenue, Senior Living Facilities, Lutheran Senior <br> Services Projects, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/42 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 153073<br>|
| &nbsp;&nbsp;&nbsp; St. Louis County, MO, IDA, Senior Living Facilities Revenue, Friendship <br> Village, St. Louis Obligated Group, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/38 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; 1641923<br>|
| *Total Missouri* | *Total Missouri* | *Total Missouri* | *Total Missouri* | &nbsp;&nbsp; *1794996* |
| *Nebraska — 0.3%* | *Nebraska — 0.3%* | *Nebraska — 0.3%* | *Nebraska — 0.3%* | *Nebraska — 0.3%* |
| &nbsp;&nbsp;&nbsp; Omaha, NE, Public Power District, Electric System Revenue, Series B, <br> Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/1/46 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; *1964157*<br>|
| *New Hampshire — 1.9%* | *New Hampshire — 1.9%* | *New Hampshire — 1.9%* | *New Hampshire — 1.9%* | *New Hampshire — 1.9%* |
| &nbsp;&nbsp;&nbsp; National Finance Authority, NH, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Presbyterian Senior Living Project, Series A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; 967279<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *New Hampshire — continued* | *New Hampshire — continued* | *New Hampshire — continued* | *New Hampshire — continued* | *New Hampshire — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston-Salem Sustainable Energy Partners LLC, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp; $4900000 | &nbsp;&nbsp;&nbsp; $5637931<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston-Salem Sustainable Energy Partners LLC, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/55 | &nbsp;&nbsp; 4750000 | &nbsp;&nbsp;&nbsp; 4763096<br>|
| *Total New Hampshire* | *Total New Hampshire* | *Total New Hampshire* | *Total New Hampshire* | &nbsp;&nbsp; *11368306* |
| *New Jersey — 7.8%* | *New Jersey — 7.8%* | *New Jersey — 7.8%* | *New Jersey — 7.8%* | *New Jersey — 7.8%* |
| &nbsp;&nbsp;&nbsp; New Jersey State EDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Activity-The Goethals Bridge Replacement Project | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1001298<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Activity-The Goethals Bridge Replacement Project, AG | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2512860<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Group-Rowan Properties LLC, Rowan University Housing Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/48 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 497645<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Facility Revenue, Continental Airlines Inc. Project | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 3530000 | &nbsp;&nbsp;&nbsp; 3536927<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Facility, Port Newark Container Terminal LLC Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp; 3569829<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Jersey State EDA, Lease Revenue, State House Project, Series B  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/43 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4170417<br>|
| &nbsp;&nbsp;&nbsp; New Jersey State EFA Revenue, Stevens Institute of Technology, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3038329<br>|
| &nbsp;&nbsp;&nbsp; New Jersey State Health Care Facilities Financing Authority Revenue, RWJ <br> Barnabas Health Obligation Group, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1508907<br>|
| &nbsp;&nbsp;&nbsp; New Jersey State Transportation Trust Fund Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp;&nbsp; 2299207<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp;&nbsp; 1354778<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/36 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4508384<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/38 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3381098<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 668793<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series AA, Unrefunded | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp; 4325000 | &nbsp;&nbsp;&nbsp; 4436964<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series BB | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/15/36 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2308931<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series BB | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2066099<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation System, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/15/28 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp; 1129825<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation System, Series A, Refunding | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 783564<br>|
| &nbsp;&nbsp;&nbsp; New Jersey State Turnpike Authority Revenue, Series C, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4374812<br>|
| &nbsp;&nbsp;&nbsp; Tobacco Settlement Financing Corp., NJ, Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 805827<br>|
| *Total New Jersey* | *Total New Jersey* | *Total New Jersey* | *Total New Jersey* | &nbsp;&nbsp; *47954494* |
| *New Mexico — 0.4%* | *New Mexico — 0.4%* | *New Mexico — 0.4%* | *New Mexico — 0.4%* | *New Mexico — 0.4%* |
| &nbsp;&nbsp;&nbsp; New Mexico State Municipal Energy Acquisition Authority, Gas Supply <br> Revenue, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; *2384959*<br> <sup>(c)(e)</sup><br>|
| *New York — 23.6%* | *New York — 23.6%* | *New York — 23.6%* | *New York — 23.6%* | *New York — 23.6%* |
| &nbsp;&nbsp;&nbsp; Brookhaven, NY, Local Development Corp. Revenue, Long Island Community <br> Hospital Project, Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1197285<br>|
| &nbsp;&nbsp;&nbsp; Long Island, NY, Power Authority Electric System Revenue, Series B  | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 9/1/29 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1256506<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; MTA, NY, Dedicated Tax Fund Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/47 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2019252<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Subseries B-1, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/54 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp;&nbsp; 4269730<br>|
| &nbsp;&nbsp;&nbsp; MTA, NY, Transportation Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series C-1, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 505290<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series E, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1965229<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series E, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1643882<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A-2 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp; 2492845<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/37 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 252925<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C-1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/33 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; 355273<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* |
| &nbsp;&nbsp;&nbsp; New York City, NY, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/51 | &nbsp;&nbsp; $2500000 | &nbsp;&nbsp;&nbsp; $2587493<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subseries A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/40 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1264749<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subseries A-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/47 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp;&nbsp; 2149798<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, Industrial Development Agency Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yankee Stadium Project, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/1/45 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; 871025<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yankee Stadium Project, Refunding, AG | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/1/45 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 737402<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, Municipal Water Finance Authority, Water & Sewer <br> System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second General Resolution Fiscal 2017, Series CC-1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/46 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2007127<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second General Resolution Fiscal 2018, Series CC | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/48 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 607570<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second General Resolution Fiscal 2022, Series AA, Subseries AA-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/15/51 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp;&nbsp; 5389230<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second General Resolution Fiscal 2023, Series AA, Subseries AA-1 | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/15/52 | &nbsp;&nbsp; 2020000 | &nbsp;&nbsp;&nbsp; 2133834<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, TFA, Future Tax Secured Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated, Series F, Subseries F-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/47 | &nbsp;&nbsp; 10250000 | &nbsp;&nbsp;&nbsp; 10724799<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated, Subseries F-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/42 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3062172<br>|
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-State Supported Debt, Memorial Sloan-Kettering Cancer Center, <br> Series B-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2329888<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-State Supported Debt, SD, Series A, Refunding, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp; 5352<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, Sales Tax Revenue, Bidding Group 4, <br> Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1031663<br>|
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, State Personal Income Tax Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bidding Group 3, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/41 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp; 5201<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bidding Group 3, Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/43 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp; 5201<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bidding Group 3, Series B, Unrefunded | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/41 | &nbsp;&nbsp; 2990000 | &nbsp;&nbsp;&nbsp; 3070064<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bidding Group 4, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/45 | &nbsp;&nbsp; 2475000 | &nbsp;&nbsp;&nbsp; 2409435<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bidding Group 4, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/46 | &nbsp;&nbsp; 7240000 | &nbsp;&nbsp;&nbsp; 6954363<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bidding Group 4, Series D, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/15/40 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp; 3142166<br>|
| &nbsp;&nbsp;&nbsp; New York State Liberty Development Corp., Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 World Trade Center Project, Class 1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/44 | &nbsp;&nbsp; 2240000 | &nbsp;&nbsp;&nbsp; 2243693<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 World Trade Center Project, Class 2, Refunding | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 9/15/52 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; 3735677<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Headquarters | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp; 1485000 | &nbsp;&nbsp;&nbsp; 1830980<br>|
| &nbsp;&nbsp;&nbsp; New York State Thruway Authority General Revenue, Junior Indebtedness <br> Obligations, Junior Lien, Series B, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 3886898<br>|
| &nbsp;&nbsp;&nbsp; New York State Transportation Development Corp., Special Facilities <br> Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment <br> Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 518296<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment <br> Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/32 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp; 672731<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment <br> Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1808874<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment <br> Project | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp; 3070078<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment <br> Project | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 4/1/40 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp; 2355707<br> <sup>(b)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., LaGuardia Airport Terminals C & D Redevelopment <br> Project | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp; $1750000 | &nbsp;&nbsp;&nbsp; $1688739<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport New Terminal One Project, Green <br> Bonds | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 6/30/54 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp;&nbsp; 2256998<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport New Terminal One Project, Green <br> Bonds | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 6/30/60 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp;&nbsp; 6628115<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport New Terminal One Project, Green <br> Bonds, AG | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 6/30/60 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp;&nbsp; 5301863<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Four Project, Series C, <br> Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/41 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp;&nbsp; 2161408<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Six Redevelopment Project, <br> Green Bonds, Series A, Refunding | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/31/54 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 875392<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Six Redevelopment Project, <br> Green Bonds, Series A, Refunding, AG | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 12/31/54 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1932528<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John F. Kennedy International Airport Terminal Six Redevelopment Project, <br> Green Bonds, Series B, Refunding, AG, Step bond (0.000% to 12/31/34 <br> then 5.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 12/31/54 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 574120<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LaGuardia Airport Terminal B Redevelopment Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp;&nbsp; 1551469<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LaGuardia Airport Terminal B Redevelopment Project, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 11850000 | &nbsp;&nbsp;&nbsp; 11854706<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; New York State Urban Development Corp. Revenue, Personal Income Tax, <br> Series C, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/45 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp; 3172234<br>|
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Series 218 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/1/47 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; 2440701<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Series 221 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 970398<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Series 221 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/55 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 905623<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, NY, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General-MTA Bridges & Tunnels, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 257306<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General-MTA Bridges & Tunnels, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/49 | &nbsp;&nbsp; 8950000 | &nbsp;&nbsp;&nbsp; 9336518<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General-MTA Bridges & Tunnels, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/51 | &nbsp;&nbsp; 1950000 | &nbsp;&nbsp;&nbsp; 2018312<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General-MTA Bridges & Tunnels, Series A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/56 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1837307<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MTA Bridges & Tunnels, Senior Lien, Series A-1, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/51 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2595221<br>|
| *Total New York* | *Total New York* | *Total New York* | *Total New York* | &nbsp;&nbsp; *144928641* |
| *North Carolina — 0.8%* | *North Carolina — 0.8%* | *North Carolina — 0.8%* | *North Carolina — 0.8%* | *North Carolina — 0.8%* |
| &nbsp;&nbsp;&nbsp; North Carolina State Medical Care Commission, Retirement Facilities <br> Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Forest at Duke Project | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/41 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 486823<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Forest at Duke Project | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/46 | &nbsp;&nbsp; 715000 | &nbsp;&nbsp;&nbsp; 633223<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Forest at Duke Project | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/51 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 840880<br>|
| &nbsp;&nbsp;&nbsp; North Carolina State Turnpike Authority, Monroe Expressway Toll Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1502228<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1501368<br>|
| *Total North Carolina* | *Total North Carolina* | *Total North Carolina* | *Total North Carolina* | &nbsp;&nbsp; *4964522* |
| *North Dakota — 0.4%* | *North Dakota — 0.4%* | *North Dakota — 0.4%* | *North Dakota — 0.4%* | *North Dakota — 0.4%* |
| &nbsp;&nbsp;&nbsp; Grand Forks, ND, Health Care System Revenue, Altru Health System, <br> Refunding, AG | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 12/1/46 | &nbsp;&nbsp; 3550000 | &nbsp;&nbsp;&nbsp; *2766844*<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Ohio — 1.7%* | *Ohio — 1.7%* | *Ohio — 1.7%* | *Ohio — 1.7%* | *Ohio — 1.7%* |
| &nbsp;&nbsp;&nbsp; Buckeye, OH, Tobacco Settlement Financing Authority Revenue, Senior <br> Bonds, Series B-2, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/55 | &nbsp;&nbsp; $3425000 | &nbsp;&nbsp;&nbsp; $2832554<br>|
| &nbsp;&nbsp;&nbsp; Ohio State Air Quality Development Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Electric Co. Project, Series B | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 1950000 | &nbsp;&nbsp;&nbsp; 1889323<br> <sup>(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Electric Co. Project, Series D, Refunding | &nbsp;&nbsp; 3.700% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 720000 | &nbsp;&nbsp;&nbsp; 729108<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMG Vanadium Project, Series 2019 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp; 2471894<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. Project, Series B, Refunding | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1321448<br> <sup>(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Port of Greater Cincinnati Development Authority Revenue, OH, Tax-Exempt <br> Parking Revenue, 3CDC Obligated Group Parking Facilities, Series A, <br> Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/60 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1284825<br>|
| *Total Ohio* | *Total Ohio* | *Total Ohio* | *Total Ohio* | &nbsp;&nbsp; *10529152* |
| *Oklahoma — 0.3%* | *Oklahoma — 0.3%* | *Oklahoma — 0.3%* | *Oklahoma — 0.3%* | *Oklahoma — 0.3%* |
| &nbsp;&nbsp;&nbsp; Tulsa, OK, Municipal Airport Trust Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines Inc. Project, Refunding | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1764796<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines Inc. Project, Refunding | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 12/1/40 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp; 210695<br> <sup>(b)</sup><br>|
| *Total Oklahoma* | *Total Oklahoma* | *Total Oklahoma* | *Total Oklahoma* | &nbsp;&nbsp; *1975491* |
| *Oregon — 0.9%* | *Oregon — 0.9%* | *Oregon — 0.9%* | *Oregon — 0.9%* | *Oregon — 0.9%* |
| &nbsp;&nbsp;&nbsp; Oregon State Business Development Commission Revenue, Recovery Zone <br> Facility Bonds, Intel Corp. Project, Series 232  | &nbsp;&nbsp; 3.800% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp; 3163987<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Oregon State Facilities Authority Revenue, Legacy Health Project, Series A, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; 2604195<br>|
| *Total Oregon* | *Total Oregon* | *Total Oregon* | *Total Oregon* | &nbsp;&nbsp; *5768182* |
| *Pennsylvania — 6.6%* | *Pennsylvania — 6.6%* | *Pennsylvania — 6.6%* | *Pennsylvania — 6.6%* | *Pennsylvania — 6.6%* |
| &nbsp;&nbsp;&nbsp; Allegheny County, PA, HDA Revenue, University of Pittsburgh Medical Center, <br> Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 503933<br>|
| &nbsp;&nbsp;&nbsp; Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment <br> Revenue Bonds, Series 2018  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 262990<br>|
| &nbsp;&nbsp;&nbsp; Cumberland County, PA, Municipal Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diakon Lutheran Social Ministries Project, Unrefunded | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/29 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp; 225309<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diakon Lutheran Social Ministries Project, Unrefunded | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp; 776051<br>|
| &nbsp;&nbsp;&nbsp; Lancaster County, PA, Convention Center Authority Revenue, Hotel Room <br> Rental Tax: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding, County GTD | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 5/1/53 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2012390<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding, County GTD | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 5/1/57 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2517044<br>|
| &nbsp;&nbsp;&nbsp; Lancaster County, PA, Hospital Authority Revenue, Penn State Health, <br> Series 2021  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/46 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp; 3569486<br>|
| &nbsp;&nbsp;&nbsp; Pennsylvania State Economic Development Financing Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exempt Facilities Bonds, PPL Energy Supply LLC Project, Series B, <br> Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1004213<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exempt Facilities Bonds, PPL Energy Supply LLC Project, Series C, <br> Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp; 2209367<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solid Waste Disposal Facility, Core Natural Resources Inc. Project, <br> Refunding | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 3/27/35 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 932529<br> <sup>(a)(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax-Exempt Private Activity, The Penndot Major Bridges Package One <br> Project | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/30/48 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2116959<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax-Exempt Private Activity, The Penndot Major Bridges Package One <br> Project | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/30/53 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp;&nbsp; 7326840<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pennsylvania State Turnpike Commission Oil Franchise Tax Revenue, Series B  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/53 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp;&nbsp; 3029109<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Pennsylvania — continued* | *Pennsylvania — continued* | *Pennsylvania — continued* | *Pennsylvania — continued* | *Pennsylvania — continued* |
| &nbsp;&nbsp;&nbsp; Pennsylvania State Turnpike Commission Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A-2 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/48 | &nbsp;&nbsp; $2000000 | &nbsp;&nbsp;&nbsp; $2056215<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/45 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2112175<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 12/1/47 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1603691<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/51 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1815929<br>|
| &nbsp;&nbsp;&nbsp; Philadelphia, PA, Authority for IDR: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter School Revenue, A String Theory Charter School Project, <br> Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 503963<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City Service Agreement Revenue, Rebuild Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/35 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 262708<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City Service Agreement Revenue, Rebuild Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/38 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 523180<br>|
| &nbsp;&nbsp;&nbsp; Philadelphia, PA, SD, GO, Series A, State Aid Withholding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/33 | &nbsp;&nbsp; 1755000 | &nbsp;&nbsp;&nbsp; 1758206<br>|
| &nbsp;&nbsp;&nbsp; State Public School Building Authority, PA, Lease Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philadelphia SD Project, Series A, Refunding, AG, State Aid Withholding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 815333<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philadelphia SD Project, Series A, Refunding, AG, State Aid Withholding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/33 | &nbsp;&nbsp; 2280000 | &nbsp;&nbsp;&nbsp; 2321137<br>|
| *Total Pennsylvania* | *Total Pennsylvania* | *Total Pennsylvania* | *Total Pennsylvania* | &nbsp;&nbsp; *40258757* |
| *Puerto Rico — 5.7%* | *Puerto Rico — 5.7%* | *Puerto Rico — 5.7%* | *Puerto Rico — 5.7%* | *Puerto Rico — 5.7%* |
| &nbsp;&nbsp;&nbsp; Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp; 1840000 | &nbsp;&nbsp;&nbsp; 1934876<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp; 4710539<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Puerto Rico Commonwealth, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp; 78612 | &nbsp;&nbsp;&nbsp; 58208<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 67418 | &nbsp;&nbsp;&nbsp; 68998<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 66323 | &nbsp;&nbsp;&nbsp; 70869<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 64420 | &nbsp;&nbsp;&nbsp; 71585<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp; 61087 | &nbsp;&nbsp;&nbsp; 62564<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp; 1209908 | &nbsp;&nbsp;&nbsp; 1230676<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp; 4065000 | &nbsp;&nbsp;&nbsp; 4073399<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 629073 | &nbsp;&nbsp;&nbsp; 610562<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 66635 | &nbsp;&nbsp;&nbsp; 60161<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subseries CW | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 11/1/43 | &nbsp;&nbsp; 234690 | &nbsp;&nbsp;&nbsp; 160469<br> <sup>(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 887000 | &nbsp;&nbsp;&nbsp; 851791<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, Restructured, Series A-1 | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 7830000 | &nbsp;&nbsp;&nbsp; 2816534<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 302010<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 1230000 | &nbsp;&nbsp;&nbsp; 1199401<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-1 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/58 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp;&nbsp; 3798515<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-2 | &nbsp;&nbsp; 4.329% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 8290000 | &nbsp;&nbsp;&nbsp; 8307147<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructured, Series A-2A | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp;&nbsp; 4630824<br>|
| *Total Puerto Rico* | *Total Puerto Rico* | *Total Puerto Rico* | *Total Puerto Rico* | &nbsp;&nbsp; *35019128* |
| *Rhode Island — 0.1%* | *Rhode Island — 0.1%* | *Rhode Island — 0.1%* | *Rhode Island — 0.1%* | *Rhode Island — 0.1%* |
| &nbsp;&nbsp;&nbsp; Rhode Island State Health & Educational Building Corp., Student Housing <br> Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RI Properties LLC, Senior Series A, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 404564<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RI Properties LLC, Senior Series A, AG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/55 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 502997<br>|
| *Total Rhode Island* | *Total Rhode Island* | *Total Rhode Island* | *Total Rhode Island* | &nbsp;&nbsp; *907561* |

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *South Carolina — 1.0%* | *South Carolina — 1.0%* | *South Carolina — 1.0%* | *South Carolina — 1.0%* | *South Carolina — 1.0%* |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, SC, Gas Supply Revenue, Subseries <br> B-2, Refunding (SOFR x 0.670 + 1.900%) | &nbsp;&nbsp; 4.359% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; $1250000 | &nbsp;&nbsp;&nbsp; $1299903<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; South Carolina State Jobs, EDA Hospital Facilities Revenue, Bon Secours <br> Mercy Health Inc., Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/44 | &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;&nbsp; 2402214<br>|
| &nbsp;&nbsp;&nbsp; South Carolina State Ports Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 518854<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; 1761493<br> <sup>(b)</sup><br>|
| *Total South Carolina* | *Total South Carolina* | *Total South Carolina* | *Total South Carolina* | &nbsp;&nbsp; *5982464* |
| *South Dakota — 0.1%* | *South Dakota — 0.1%* | *South Dakota — 0.1%* | *South Dakota — 0.1%* | *South Dakota — 0.1%* |
| &nbsp;&nbsp;&nbsp; South Dakota State HEFA Revenue, Regional Health | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; *712492*<br>|
| *Tennessee — 1.3%* | *Tennessee — 1.3%* | *Tennessee — 1.3%* | *Tennessee — 1.3%* | *Tennessee — 1.3%* |
| &nbsp;&nbsp;&nbsp; Clarksville, TN, Water, Sewer & Gas Revenue, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/1/51 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp; 3044896<br>|
| &nbsp;&nbsp;&nbsp; Knox County, TN, Health, Educational & Housing Facility Board Revenue, <br> University Health System Inc., Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp;&nbsp; 1586495<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Government of Nashville & Davidson County, TN, Sports <br> Authority Revenue, Series A, AG  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2370571<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Government of Nashville & Davidson County, TN, Water & <br> Sewer Revenue, Subordinated, Series B, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1013404<br>|
| *Total Tennessee* | *Total Tennessee* | *Total Tennessee* | *Total Tennessee* | &nbsp;&nbsp; *8015366* |
| *Texas — 8.7%* | *Texas — 8.7%* | *Texas — 8.7%* | *Texas — 8.7%* | *Texas — 8.7%* |
| &nbsp;&nbsp;&nbsp; Arlington, TX, Higher Education Finance Corp., Education Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basis Texas Charter Schools Inc., Refunding | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 6/15/65 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1273915<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uplift Education, Series A, Refunding, PSF - GTD | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/47 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 252247<br>|
| &nbsp;&nbsp;&nbsp; Arlington, TX, Special Tax Revenue, Senior Lien, Series A, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/48 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; 1626112<br>|
| &nbsp;&nbsp;&nbsp; Austin, TX, Airport System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/52 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2029492<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/39 | &nbsp;&nbsp; 3270000 | &nbsp;&nbsp;&nbsp; 3438259<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Central Texas Regional Mobility Authority Revenue, Senior Lien, Series B  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/51 | &nbsp;&nbsp; 4320000 | &nbsp;&nbsp;&nbsp; 3902746<br>|
| &nbsp;&nbsp;&nbsp; Central Texas Turnpike System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/15/41 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 835580<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/15/42 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1108666<br>|
| &nbsp;&nbsp;&nbsp; Elgin, TX, ISD, GO, Unlimited Tax School Building Bonds, PSF - GTD  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/49 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp; 2948289<br>|
| &nbsp;&nbsp;&nbsp; Forney, TX, ISD, GO, Unlimited Tax School Building Bonds, Series 2019, <br> PSF-GTD  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/49 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 503651<br>|
| &nbsp;&nbsp;&nbsp; Galveston, TX, Wharves & Terminal Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/34 | &nbsp;&nbsp; 1555000 | &nbsp;&nbsp;&nbsp; 1718702<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien, Series A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/1/35 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1393985<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien, Series A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/1/37 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1376061<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Grand Parkway Transportation Corp., TX, System Toll Revenue, Convertible <br> CAB, Series A, B & C  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/1/36 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp; 6421016<br>|
| &nbsp;&nbsp;&nbsp; Harris County, TX, Cultural Education Facilities Finance Corp., Hospital <br> Revenue, Texas Children's Hospital, Series B, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp; 1849715<br> <sup>(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Harris County, TX, GO, Certificates of Obligation  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/15/49 | &nbsp;&nbsp; 4750000 | &nbsp;&nbsp;&nbsp; 4524495<br>|
| &nbsp;&nbsp;&nbsp; Hays, TX, ISD, GO, Unlimited Tax School Building Bonds, PSF - GTD  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/15/47 | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp; 1596825<br>|
| &nbsp;&nbsp;&nbsp; Houston, TX, GO, Series A  | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 3/1/51 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1134675<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Texas — continued* | *Texas — continued* | *Texas — continued* | *Texas — continued* | *Texas — continued* |
| &nbsp;&nbsp;&nbsp; Houston, TX, Airport System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special Facilities, United Airlines Inc., Terminal Improvement Project, <br> Series B-1 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp; $2100000 | &nbsp;&nbsp;&nbsp; $1987739<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Lien, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2006672<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Lien, Series A, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 742870<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Houston, TX, Combined Utility System Revenue, First Lien, Series D, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1001002<br>|
| &nbsp;&nbsp;&nbsp; Longview, TX, ISD, GO, Unlimited Tax School Building Bonds, PSF - GTD  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/15/49 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2143269<br>|
| &nbsp;&nbsp;&nbsp; Love Field, TX, Airport Modernization Corp., General Airport Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp; 162239<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017 | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/36 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp; 161907<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mission, TX, EDC, Solid Waste Disposal Revenue, Graphic Packaging <br> International, LLC Project, Green Bonds  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp; 838864<br> <sup>(b)(c)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Hope Cultural Education Facilities Finance Corp., TX, Student Housing <br> Revenue, Collegiate Housing College Station, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/46 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 750098<br>|
| &nbsp;&nbsp;&nbsp; Newark, TX, Higher Education Finance Corp., Education Revenue, TLC <br> Academy, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/15/51 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1055347<br>|
| &nbsp;&nbsp;&nbsp; Port Beaumont, TX, Navigation District Dock & Wharf Facility Revenue, <br> Jefferson Gulf Coast Energy Project, Series A  | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 1/1/50 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 274695<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital <br> Revenue, Methodist Hospitals of Dallas  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2512389<br>|
| &nbsp;&nbsp;&nbsp; Texas State Private Activity Bond Surface Transportation Corp. Revenue, <br> Senior Lien, NTE Mobility Partners Segments 3 LLC, Refunding  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 6/30/41 | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp; 1753976<br> <sup>(b)</sup><br>|
| *Total Texas* | *Total Texas* | *Total Texas* | *Total Texas* | &nbsp;&nbsp; *53325498* |
| *Utah — 1.4%* | *Utah — 1.4%* | *Utah — 1.4%* | *Utah — 1.4%* | *Utah — 1.4%* |
| &nbsp;&nbsp;&nbsp; Salt Lake City, UT, Airport Revenue, Salt Lake City International Airport, <br> Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp;&nbsp; 5378398<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Utah State Charter School Finance Authority, Charter School Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Syracuse Arts Academy Project, UT CSCE | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/15/42 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 250214<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Syracuse Arts Academy Project, UT CSCE | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/15/47 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1000291<br>|
| &nbsp;&nbsp;&nbsp; Utah State Infrastructure Agency, Telecommunications Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/15/39 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1246924<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/15/36 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100382<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/15/38 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 498429<br>|
| *Total Utah* | *Total Utah* | *Total Utah* | *Total Utah* | &nbsp;&nbsp; *8474638* |
| *Virginia — 2.5%* | *Virginia — 2.5%* | *Virginia — 2.5%* | *Virginia — 2.5%* | *Virginia — 2.5%* |
| &nbsp;&nbsp;&nbsp; Arlington County, VA, IDA, Hospital Revenue, Virginia Hospital Center, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 760450<br>|
| &nbsp;&nbsp;&nbsp; Isle of Wight County, VA, EDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverside Health System, Series 2023, AG | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1264105<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverside Health System, Series 2023, AG | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 524558<br>|
| &nbsp;&nbsp;&nbsp; Virginia State Port Authority, Port Facilities Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; 1410664<br> <sup>(b)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2015235<br> <sup>(b)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virginia State Small Business Financing Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Senior Campuses, Inc., Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/32 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 529156<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Senior Campuses, Inc., Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/34 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 580882<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Virginia — continued* | *Virginia — continued* | *Virginia — continued* | *Virginia — continued* | *Virginia — continued* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, 95 Express Lanes LLC Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp; $3000000 | &nbsp;&nbsp;&nbsp; $3252777<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, 95 Express Lanes LLC Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1073203<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, 95 Express Lanes LLC Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1333210<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Lien, I-495 HOT Lanes Project, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/31/47 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2539440<br> <sup>(b)</sup><br>|
| *Total Virginia* | *Total Virginia* | *Total Virginia* | *Total Virginia* | &nbsp;&nbsp; *15283680* |
| *Washington — 1.5%* | *Washington — 1.5%* | *Washington — 1.5%* | *Washington — 1.5%* | *Washington — 1.5%* |
| &nbsp;&nbsp;&nbsp; Port of Seattle, WA, Intermediate Lien Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019 | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/1/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 968465<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/41 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp; 3494822<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/42 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1520725<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Washington State Health Care Facilities Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seattle Cancer Care Alliance, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/40 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 503658<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seattle Cancer Care Alliance, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/45 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1139781<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seattle Cancer Care Alliance, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/50 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1534927<br>|
| *Total Washington* | *Total Washington* | *Total Washington* | *Total Washington* | &nbsp;&nbsp; *9162378* |
| *West Virginia — 0.1%* | *West Virginia — 0.1%* | *West Virginia — 0.1%* | *West Virginia — 0.1%* | *West Virginia — 0.1%* |
| &nbsp;&nbsp;&nbsp; West Virginia State EDA Revenue, Solid Waste Disposal Facility, Commercial <br> Metals Co. Project | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; *772498*<br> <sup>(b)(c)(e)</sup><br>|
| *Wisconsin — 2.1%* | *Wisconsin — 2.1%* | *Wisconsin — 2.1%* | *Wisconsin — 2.1%* | *Wisconsin — 2.1%* |
| &nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Airport Facilities Revenue, Transportation <br> Infrastructure Properties LLC, Series B, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4002015<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cone Health, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2050994<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Carmelite System Inc. Obligated Group, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp; 708155<br>|
| &nbsp;&nbsp;&nbsp; Public Finance Authority, WI, Student Housing Revenue, University of Hawai'i <br> Foundation Project, Green Bonds, Series A-1  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp; 1370517<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Village of Mount Pleasant, WI, Tax Increment Revenue, Series A, Moral <br> Obligations  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/48 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3052606<br>|
| &nbsp;&nbsp;&nbsp; Wisconsin State HEFA Revenue, Bellin Memorial Hospital Inc., Series A  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/1/52 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; 1721126<br>|
| *Total Wisconsin* | *Total Wisconsin* | *Total Wisconsin* | *Total Wisconsin* | &nbsp;&nbsp; *12905413* |
| **Total Municipal Bonds (Cost — $838,674,038)** | **Total Municipal Bonds (Cost — $838,674,038)** | **Total Municipal Bonds (Cost — $838,674,038)** | **Total Municipal Bonds (Cost — $838,674,038)** | &nbsp;&nbsp; **856385938** |
| **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(g)</sup> **— 4.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(g)</sup> **— 4.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(g)</sup> **— 4.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(g)</sup> **— 4.3%** | **Municipal Bonds Deposited in Tender Option Bond Trusts**<sup>(g)</sup> **— 4.3%** |
| *New York — 4.3%* | *New York — 4.3%* | *New York — 4.3%* | *New York — 4.3%* | *New York — 4.3%* |
| &nbsp;&nbsp;&nbsp; New York City, NY, Municipal Water Finance Authority, Water & Sewer <br> System Revenue, Second General Resolution Fiscal 2023, Subseries AA-1  | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/15/52 | &nbsp;&nbsp; 6920000 | &nbsp;&nbsp;&nbsp; 7309188<br>|
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, State Personal Income Tax Revenue, <br> Series A, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/45 | &nbsp;&nbsp; 8480000 | &nbsp;&nbsp;&nbsp; 8255357<br>|
| &nbsp;&nbsp;&nbsp; New York State Urban Development Corp., State Sales Tax Revenue, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/49 | &nbsp;&nbsp; 10200000 | &nbsp;&nbsp;&nbsp; 10669157<br>|
| **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $25,983,954)** | **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $25,983,954)** | **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $25,983,954)** | **Total Municipal Bonds Deposited in Tender Option Bond Trusts (Cost — $25,983,954)** | &nbsp;&nbsp; **26233702** |
| **Total Investments before Short-Term Investments (Cost — $864,657,992)** | **Total Investments before Short-Term Investments (Cost — $864,657,992)** | **Total Investments before Short-Term Investments (Cost — $864,657,992)** | **Total Investments before Short-Term Investments (Cost — $864,657,992)** | &nbsp;&nbsp; **882619640** |
| **Short-Term Investments — 3.4%** | **Short-Term Investments — 3.4%** | **Short-Term Investments — 3.4%** | **Short-Term Investments — 3.4%** | **Short-Term Investments — 3.4%** |
| **Municipal Bonds — 3.4%** | **Municipal Bonds — 3.4%** | **Municipal Bonds — 3.4%** | **Municipal Bonds — 3.4%** | **Municipal Bonds — 3.4%** |
| *Arizona — 0.1%* | *Arizona — 0.1%* | *Arizona — 0.1%* | *Arizona — 0.1%* | *Arizona — 0.1%* |
| &nbsp;&nbsp;&nbsp; Arizona State IDA, Hospital Revenue, Phoenix Children's Hospital, Series A, <br> Refunding, LOC - TD Bank N.A. | &nbsp;&nbsp; 0.950% | &nbsp;&nbsp; 2/1/48 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; *460000*<br> <sup>(h)(i)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Managed Municipals Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Illinois — 1.2%* | *Illinois — 1.2%* | *Illinois — 1.2%* | *Illinois — 1.2%* | *Illinois — 1.2%* |
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority Revenue, University of Chicago Medical <br> Center, Series B, LOC - TD Bank N.A. | &nbsp;&nbsp; 0.800% | &nbsp;&nbsp; 8/1/44 | &nbsp;&nbsp; $7300000 | &nbsp;&nbsp;&nbsp; $*7300000*<br> <sup>(h)(i)</sup><br>|
| *Iowa — 0.0%††* | *Iowa — 0.0%††* | *Iowa — 0.0%††* | *Iowa — 0.0%††* | *Iowa — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Iowa Finance Authority, Series E, SPA - TD Bank N.A., GNMA / FNMA / <br> FHLMC  | &nbsp;&nbsp; 1.870% | &nbsp;&nbsp; 1/1/49 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; *335000*<br> <sup>(h)(i)</sup><br>|
| *Maryland — 0.4%* | *Maryland — 0.4%* | *Maryland — 0.4%* | *Maryland — 0.4%* | *Maryland — 0.4%* |
| &nbsp;&nbsp;&nbsp; Maryland State Health & Higher EFA Revenue, University of Maryland <br> Medical System, Series D, Refunding, LOC - TD Bank N.A. | &nbsp;&nbsp; 0.900% | &nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; *2300000*<br> <sup>(h)(i)</sup><br>|
| *Massachusetts — 0.0%††* | *Massachusetts — 0.0%††* | *Massachusetts — 0.0%††* | *Massachusetts — 0.0%††* | *Massachusetts — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Massachusetts State DFA Revenue, Boston University, Series U-6C, <br> Refunding, LOC - TD Bank N.A. | &nbsp;&nbsp; 1.800% | &nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(h)(i)</sup><br>|
| *Mississippi — 0.3%* | *Mississippi — 0.3%* | *Mississippi — 0.3%* | *Mississippi — 0.3%* | *Mississippi — 0.3%* |
| &nbsp;&nbsp;&nbsp; Mississippi State Business Finance Corp., Gulf Opportunity Zone, IDR, <br> Chevron USA Inc. Project, Series E | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; *1750000*<br> <sup>(h)(i)</sup><br>|
| *Missouri — 0.4%* | *Missouri — 0.4%* | *Missouri — 0.4%* | *Missouri — 0.4%* | *Missouri — 0.4%* |
| &nbsp;&nbsp;&nbsp; Missouri State HEFA Revenue, Saint Louis University, Series B-2, Refunding, <br> LOC - Wells Fargo Bank N.A. | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 10/1/35 | &nbsp;&nbsp; 2390000 | &nbsp;&nbsp;&nbsp;&nbsp; *2390000*<br> <sup>(h)(i)</sup><br>|
| *New York — 0.5%* | *New York — 0.5%* | *New York — 0.5%* | *New York — 0.5%* | *New York — 0.5%* |
| &nbsp;&nbsp;&nbsp; MTA, NY, Transportation Revenue, Series E-1, LOC - Barclays Bank PLC  | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 11/15/50 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100000<br> <sup>(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subseries A-4, SPA - TD Bank N.A. | &nbsp;&nbsp; 0.950% | &nbsp;&nbsp; 9/1/49 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 100000<br> <sup>(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subseries D-4, LOC - TD Bank N.A. | &nbsp;&nbsp; 0.950% | &nbsp;&nbsp; 8/1/40 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1300000<br> <sup>(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subseries E-5, LOC - TD Bank N.A. | &nbsp;&nbsp; 0.950% | &nbsp;&nbsp; 3/1/48 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 600000<br> <sup>(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, Municipal Water Finance Authority, Water & Sewer <br> System Revenue, Second General Resolution Fiscal 2023, Subseries BB-2, <br> Refunding, SPA - Mizuho Bank Ltd.  | &nbsp;&nbsp; 0.950% | &nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; 1300000<br> <sup>(h)(i)</sup><br>|
| *Total New York* | *Total New York* | *Total New York* | *Total New York* | &nbsp;&nbsp; *3400000* |
| *Pennsylvania — 0.2%* | *Pennsylvania — 0.2%* | *Pennsylvania — 0.2%* | *Pennsylvania — 0.2%* | *Pennsylvania — 0.2%* |
| &nbsp;&nbsp;&nbsp; Northampton County, PA, General Purpose Authority, Hospital Revenue, St. <br> Luke's University Health Network Project, Series B, LOC - TD Bank N.A.  | &nbsp;&nbsp; 0.950% | &nbsp;&nbsp; 8/15/54 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 200000<br> <sup>(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pennsylvania HFA, Single Family Mortgage Revenue Bonds, Series B, SPA - <br> TD Bank N.A.  | &nbsp;&nbsp; 1.850% | &nbsp;&nbsp; 10/1/50 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 400000<br> <sup>(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; Philadelphia, PA, IDA, Multi-Modal Lease Revenue, Series B-2, Refunding, <br> LOC - TD Bank N.A.  | &nbsp;&nbsp; 1.880% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp; 595000<br> <sup>(h)(i)</sup><br>|
| *Total Pennsylvania* | *Total Pennsylvania* | *Total Pennsylvania* | *Total Pennsylvania* | &nbsp;&nbsp; *1195000* |
| *West Virginia — 0.3%* | *West Virginia — 0.3%* | *West Virginia — 0.3%* | *West Virginia — 0.3%* | *West Virginia — 0.3%* |
| &nbsp;&nbsp;&nbsp; West Virginia State Hospital Finance Authority Revenue, West Virginia <br> University Health System Obligated Group, Series C, Refunding, LOC - TD <br> Bank N.A. | &nbsp;&nbsp; 1.870% | &nbsp;&nbsp; 6/1/34 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; *1800000*<br> <sup>(h)(i)</sup><br>|
| **Total Short-Term Investments (Cost — $21,030,000)** | **Total Short-Term Investments (Cost — $21,030,000)** | **Total Short-Term Investments (Cost — $21,030,000)** | **Total Short-Term Investments (Cost — $21,030,000)** | &nbsp;&nbsp; **21030000** |
| **Total Investments — 147.2% (Cost — $885,687,992)** | **Total Investments — 147.2% (Cost — $885,687,992)** | **Total Investments — 147.2% (Cost — $885,687,992)** | **Total Investments — 147.2% (Cost — $885,687,992)** | &nbsp;&nbsp; **903649640** |
| &nbsp;&nbsp;&nbsp; Variable Rate Demand Preferred Stock, at Liquidation Value — (46.3)% | &nbsp;&nbsp;&nbsp; Variable Rate Demand Preferred Stock, at Liquidation Value — (46.3)% | &nbsp;&nbsp;&nbsp; Variable Rate Demand Preferred Stock, at Liquidation Value — (46.3)% | &nbsp;&nbsp;&nbsp; Variable Rate Demand Preferred Stock, at Liquidation Value — (46.3)% | &nbsp;&nbsp;&nbsp; (284075000)<br>|
| &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (2.3)% | &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (2.3)% | &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (2.3)% | &nbsp;&nbsp;&nbsp; TOB Floating Rate Notes — (2.3)% | &nbsp;&nbsp;&nbsp; (13955000)<br>|
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.4% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.4% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.4% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Other Liabilities — 1.4% | &nbsp;&nbsp;&nbsp; 8081782 |
| **Total Net Assets Applicable to Common Shareholders — 100.0%** | **Total Net Assets Applicable to Common Shareholders — 100.0%** | **Total Net Assets Applicable to Common Shareholders — 100.0%** | **Total Net Assets Applicable to Common Shareholders — 100.0%** | &nbsp;&nbsp; **$613701422** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

 **Western Asset Managed Municipals Fund Inc.**

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.<br>|
| <sup>(b)</sup> | Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax ("AMT"). |
| <sup>(c)</sup> | Maturity date shown represents the mandatory tender date. |
| <sup>(d)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(e)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(f)</sup> | Pre-Refunded bonds are generally escrowed with U.S. government obligations and/or U.S. government agency securities. |
| <sup>(g)</sup> | Represents securities deposited into a special purpose entity, referred to as a Tender Option Bond ("TOB") trust.. |
| <sup>(h)</sup> | Variable rate demand obligations ("VRDOs") have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no <br> more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the <br> remarketing agent, pursuant to a formula specified in official documents for the VRDO, or set at the highest rate allowable as specified in official <br> documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association ("SIFMA") Municipal Swap Index. The <br> SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board's <br> Short-term Obligation Rate Transparency System.<br>|
| <sup>(i)</sup> | Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| AG |  | Assured Guaranty — Insured Bonds |
| BAM |  | Build America Mutual — Insured Bonds |
| CAB |  | Capital Appreciation Bonds |
| CSCE |  | Charter School Credit Enhancement |
| DFA |  | Development Finance Agency |
| EDA |  | Economic Development Authority |
| EDC |  | Economic Development Corporation |
| EFA |  | Educational Facilities Authority |
| FHLMC |  | Federal Home Loan Mortgage Corporation |
| FNMA |  | Federal National Mortgage Association |
| GNMA |  | Government National Mortgage Association |
| GO |  | General Obligation |
| GTD |  | Guaranteed |
| HDA |  | Housing Development Authority |
| HEFA |  | Health & Educational Facilities Authority |
| HFA |  | Housing Finance Agency |
| IDA |  | Industrial Development Authority |
| IDR |  | Industrial Development Revenue |
| ISD |  | Independent School District |
| LOC |  | Letter of Credit |
| MFA |  | Municipal Finance Authority |
| MTA |  | Metropolitan Transportation Authority |
| PCFA |  | Pollution Control Financing Authority |
| PEA |  | Public Energy Authority |
| PSF |  | Permanent School Fund |
| SD |  | School District |
| SOFR |  | Secured Overnight Financing Rate |
| SPA |  | Standby Bond Purchase Agreement — Insured Bonds |
| TFA |  | Transitional Finance Authority |
| USD |  | Unified School District |

---

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

See Notes to Schedule of Investments.

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization and significant accounting policies** 

Western Asset Managed Municipals Fund Inc. (the "Fund") was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund's investment objective is to seek as high a level of current income exempt from federal income tax as is consistent with preservation of capital. When pursuing its investment objective, the Fund seeks to maximize current income exempt from federal income tax as is consistent with preservation of principal.

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

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

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

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

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

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

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

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

• Level 1 — unadjusted quoted prices in active markets for identical investments

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; $856385938 | &nbsp;&nbsp; — | &nbsp;&nbsp; $856385938 |
| &nbsp;&nbsp;&nbsp; Municipal Bonds Deposited in Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; 26233702 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26233702 |
| Total Long-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 882619640 | &nbsp;&nbsp; — | &nbsp;&nbsp; 882619640 |
| Short-Term Investments† | &nbsp;&nbsp; — | &nbsp;&nbsp; 21030000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21030000 |
| **Total Investments** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$903649640** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$903649640** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† See Schedule of Investments for additional detailed categorizations.

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended February 28, 2026. The following transactions were effected in such company for the period ended February 28, 2026. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>May 31, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>May 31, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>|  | $8222750 | 8222750 | $8222750 | 8222750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>February 28, <br>2026<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $1727 |  |  |

---

------

Western Asset Managed Municipals Fund Inc. 2026 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset Managed Municipals Fund Inc.

- **b. Investment Company Act file number:** 811-06629

- **c. CIK number of Registrant:** 0000886043

- **d. LEI of Registrant:** 549300HVO8EY2T8K4F73

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

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

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

- **a. Name of Series:** Western Asset Managed Municipals Fund Inc.

- **c. LEI of Series:** 549300HVO8EY2T8K4F73

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2026-02-27

**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:** $915469515.41

**Total Liabilities:** $301772401.31

**Net Assets:** $613697114.10

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1165.57000000 | **1-Year:** 22832.05000000 | **5-Year:** 141405.39000000 | **10-Year:** 389810.10000000 | **30-Year:** 49208.38000000

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

- **3-Month:** 210.77000000 | **1-Year:** 619.24000000 | **5-Year:** 10910.66000000 | **10-Year:** 39721.53000000 | **30-Year:** 1525.27000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 1.40%                | 2.25%                | 0.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-177804.04              | $-1806355.65                               |
| Month 2  | $-153378.67              | $3841182.74                                |
| Month 3  | $0.00                    | $9152051.02                                |

**Designated Index Information**

- **Index Name:** BBG POINT MUNI index

- **Index Identifier:** 5523

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UTAH INFRASTRUCTURE AGY                                         | UT UTSFAC 4 10/15/2038                                | CUSIP: 917467CC4<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    500000 | PA      | $498429.40    | 0.08%             | 2038-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HIGH PERFORMANCE TRAN ENTERPRISE                       | CO COHTRN 5 12/31/2051                                | CUSIP: 19648DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $799959.12    | 0.13%             | 2051-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX CULTURAL ED FACS FIN CORP                       | TX HAREDU 10/01/2051                                  | CUSIP: 414009QZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1849714.68   | 0.30%             | 2051-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CORRIDOR TRANSN AUTH CALIF                              | CA ALATRN 5 10/01/2034                                | CUSIP: 010869GY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2278683.00   | 0.37%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 11/15/2045                                  | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2492844.88   | 0.41%             | 2045-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 11/01/2028                                   | CUSIP: 452152Q20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $781681.88    | 0.13%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                | DC METAPT 5 10/01/2030                                | CUSIP: 592647MN8<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1663106.55   | 0.27%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH FING AUTH PA.                                      | PA CMNGEN 5 06/01/2032                                | CUSIP: 20282EAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $262990.28    | 0.04%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                    | CA LOSAPT 4 05/15/2049                                | CUSIP: 544445NV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1843563.40   | 0.30%             | 2049-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ANCHORAGE ALASKA                                                | AK ANCTRN 5 12/01/2050                                | CUSIP: 033252AA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1323970.57   | 0.22%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU HAWAII CITY & CNTY                                     | HI HONUTL 3 07/01/2041                                | CUSIP: 438701J47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1853312.20   | 0.30%             | 2041-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY ALA INDL DEV AUTH                                   | AL MOBPOL 5 06/01/2054                                | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1657790.63   | 0.27%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHITRN 5 01/01/2052                                | CUSIP: 167593WS7<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501865.70    | 0.08%             | 2052-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR                         | CO PUBUTL 6.5 11/15/2038                              | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |  15700000 | PA      | $19448064.14  | 3.17%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 0 07/01/2027                                | CUSIP: 74529JQC2<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    887000 | PA      | $851791.33    | 0.14%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH                         | PR PRCUTL 5 07/01/2037                                | CUSIP: 745160UD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1934875.55   | 0.32%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                | DC METAPT 5 10/01/2029                                | CUSIP: 592647MM0<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1633528.65   | 0.27%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT PIERCE FLA UTILS AUTH                                      | FL FPCUTL 4 10/01/2052                                | CUSIP: 348430PV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $820850.67    | 0.13%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTH CALIF                                         | CA MSRPWR 6.5 11/01/2039                              | CUSIP: 55374SAJ9<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2505391.20   | 0.41%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OMAHA PUB PWR DIST NEB                                          | NE OMAPWR 4 02/01/2046                                | CUSIP: 682001HC9<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1964157.20   | 0.32%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                               | VA VASDEV 5 01/01/2038                                | CUSIP: 928104PN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1333209.75   | 0.22%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                   | NC NCSMED 4 09/01/2041                                | CUSIP: 65820YSK3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $486822.80    | 0.08%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA EXPWY AUTH                                  | FL MIATRN 5 07/01/2040                                | CUSIP: 59334KFW3<br>LEI: 549300NSQPQSO55VM780 | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9013156.20   | 1.47%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                     | IL CHI 5.5 01/01/2035                                 | CUSIP: 167486D71<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041929.70   | 0.17%             | 2035-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP                                       | NY NYCDEV 3.25 09/15/2052                             | CUSIP: 649519FA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3735677.50   | 0.61%             | 2052-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                    | NJ NJSDEV 5 06/15/2043                                | CUSIP: 64578EMG9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4170417.20   | 0.68%             | 2043-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 4 03/15/2045                                | CUSIP: 64990FYN8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2409434.78   | 0.39%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                             | WI PUBFAC 5 07/01/2042                                | CUSIP: 74443CAC7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4002015.20   | 0.65%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FLA HEALTH FACS AUTH                            | FL PALMED 5 11/01/2052                                | CUSIP: 69651ACE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2841729.87   | 0.46%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELGIN TEX INDPT SCH DIST                                        | TX ELGSCD 4 08/01/2049                                | CUSIP: 286533UL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $2948288.48   | 0.48%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                               | WA PTSGEN 4 04/01/2044                                | CUSIP: 735389J25<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968465.10    | 0.16%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 5 07/01/2046                                | CUSIP: 650116AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11850000 | PA      | $11854705.64  | 1.93%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HOSP FIN AUTH                                       | MI MISMED 5 11/15/2047                                | CUSIP: 59465HXN1<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   2135000 | PA      | $2187340.17   | 0.36%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                             | WI PUBGEN 5 01/01/2045                                | CUSIP: 74442PQV0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    700000 | PA      | $708154.72    | 0.12%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPORTATION AUTHORITY (NY)                      | NY MTATRN 5 11/15/2047                                | CUSIP: 59259N6Q1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019251.60   | 0.33%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 01/01/2056                                  | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3200000 | PA      | $3572428.16   | 0.58%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY (THE) (NY)         | NY NYCGEN 5 02/01/2047                                | CUSIP: 64971XU71<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |  10250000 | PA      | $10724799.48  | 1.75%             | 2047-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                               | VA VASDEV 5 01/01/2037                                | CUSIP: 928104PL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073203.20   | 0.17%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRAND PKWY TRANSN CORP TEX                                      | TX GPTTRN 5.5 10/01/2036                              | CUSIP: 38611TAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6421015.80   | 1.05%             | 2036-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2038                                | CUSIP: 64613CDM7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3381098.10   | 0.55%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHIWTR 5 11/01/2037                                | CUSIP: 167736P92<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   3610000 | PA      | $3727768.67   | 0.61%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FLA HEALTH FACS AUTH                            | FL PALMED 5 11/15/2045                                | CUSIP: 69650MAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $759372.00    | 0.12%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH ORLANDO FLA                       | FL GREAPT 5 10/01/2047                                | CUSIP: 392274X43<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513637.55   | 0.25%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARKSVILLE (TN), CITY OF                                       | TN CLAWTR 4 02/01/2051                                | CUSIP: 182618PR3<br>LEI: 5493000GGEJLABLR8E68 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3044896.40   | 0.50%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH                                            | PA PHIEDU 5 06/15/2040                                | CUSIP: 71780CAZ3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503962.80    | 0.08%             | 2040-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 11/01/2027                                   | CUSIP: 452152P96<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2504069.52   | 0.41%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH                                       | MI GRTWTR 5 07/01/2046                                | CUSIP: 39081JAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6790000 | PA      | $6811602.39   | 1.11%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 4.33 07/01/2040                             | CUSIP: 74529JRH0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   8290000 | PA      | $8307147.04   | 1.35%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 03/01/2037                                   | CUSIP: 452153AR0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    750000 | PA      | $812119.88    | 0.13%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 4 11/15/2037                                | CUSIP: 59261AQL4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $505290.40    | 0.08%             | 2037-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                   | NC NCSMED 4 09/01/2046                                | CUSIP: 65820YSL1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    715000 | PA      | $633223.52    | 0.10%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST HEALTH FACS AUTH                                    | DE DESMED 5 06/01/2048                                | CUSIP: 246388TM4<br>LEI: 549300RXU7M05ZYSJG42 | Long             | DBT              | MUN               | US        |    500000 | PA      | $487752.65    | 0.08%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                         | IL MPNFAC 0 06/15/2047                                | CUSIP: 592248BE7<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1147576.20   | 0.19%             | 2047-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 5 07/01/2041                                | CUSIP: 650116AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1551468.78   | 0.25%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST PUB SCH BLDG AUTH                               | PA STTEDU 5 06/01/2033                                | CUSIP: 85732GUH1<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2321136.90   | 0.38%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY                                         | UT UTSFAC 4 10/15/2039                                | CUSIP: 917467BL5<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1246923.63   | 0.20%             | 2039-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                       | CO COSMED 5.5 09/15/2054                              | CUSIP: 19648FZN7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2222343.86   | 0.36%             | 2054-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH                                | CA CASMED 5 11/15/2056                                | CUSIP: 13032UPX0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504751.55    | 0.08%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                       | PA PASTRN 5 12/01/2045                                | CUSIP: 709225AW6<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2112174.80   | 0.34%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                             | IN INDGEN 4.25 11/01/2030                             | CUSIP: 45470CAG4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1201467.91   | 0.20%             | 2030-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Legg Mason Partners Institutional Trust                         | Legg Mason Partners Institutional Trust GVT RSEVS PRM | CUSIP: 52470G494<br>LEI: 54930003LJE4ZPPMRV82 | Long             | STIV             | RF                | US        |     54375 | PA      | $54375.29     | 0.01%             | 2099-12-01      | Floating      | 0.00%                 | No            |                  1 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS                   | NC NCSMED 4 09/01/2051                                | CUSIP: 65820YSM9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $840880.20    | 0.14%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA                                                | FL BROAPT 5 10/01/2047                                | CUSIP: 114894XU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1612358.56   | 0.26%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH ORLANDO FLA                       | FL GREAPT 5 10/01/2042                                | CUSIP: 392274X35<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    500000 | PA      | $510182.55    | 0.08%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CALIF REGL ARPT AUTH                             | CA SDGAPT 5 07/01/2046                                | CUSIP: 79739GNU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1547891.85   | 0.25%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                    | NY NYC 4 08/01/2040                                   | CUSIP: 64966QCU2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1264749.50   | 0.21%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHIUTL 5 01/01/2038                                | CUSIP: 167727ZH2<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1524918.60   | 0.25%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                    | NY NYC 5 08/01/2051                                   | CUSIP: 64966Q6Q8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2587493.00   | 0.42%             | 2051-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY (UT), CITY OF                                    | UT SALAPT 5 07/01/2043                                | CUSIP: 795576HK6<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   5250000 | PA      | $5378398.20   | 0.88%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH                             | WA WASMED 4 12/01/2045                                | CUSIP: 93978HYE9<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1139780.76   | 0.19%             | 2045-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                             | IN INSFIN 4 11/15/2041                                | CUSIP: 45506EBU6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2217304.80   | 0.36%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTH CALIF                                         | CA MSRPWR 7 11/01/2034                                | CUSIP: 55374SAE0<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   2490000 | PA      | $3094176.09   | 0.50%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COBB CNTY GA KENNESTONE HOSP AUTH                               | GA COBMED 5 04/01/2050                                | CUSIP: 190813SC0<br>LEI: 549300TB04LETJYNFR44 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1269806.88   | 0.21%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT                                                       | GU GMSGEN 4 01/01/2036                                | CUSIP: 40065NCQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1254279.46   | 0.20%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT GTR CINCINNATI DEV AUTH OHIO                               | OH PRTDEV 5 12/01/2060                                | CUSIP: 734191BG3<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1284825.00   | 0.21%             | 2060-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER ARIZ INDL DEV AUTH                                     | AZ CHADEV 06/01/2049                                  | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3498809.78   | 0.57%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE (FL), COUNTY OF                                      | FL MDCTRN 5 10/01/2047                                | CUSIP: 59335KFA0<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2036075.00   | 0.33%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 6 06/30/2054                                | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2256997.55   | 0.37%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTH CALIF                                         | CA MSRPWR 7 11/01/2034                                | CUSIP: 55374SAB6<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   3430000 | PA      | $4262258.63   | 0.69%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST PUB SCH BLDG AUTH                               | PA STTEDU 5 06/01/2031                                | CUSIP: 85732GUF5<br>LEI: 5493006JN0UR7OGWTO86 | Long             | DBT              | MUN               | US        |    800000 | PA      | $815332.72    | 0.13%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER ARIZ INDL DEV AUTH                                     | AZ CHADEV 12/01/2037                                  | CUSIP: 158862CD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1325274.34   | 0.22%             | 2037-12-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| OREGON ST BUSINESS DEV COMMN                                    | OR ORSDEV 12/01/2040                                  | CUSIP: 68609AAD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3163986.79   | 0.52%             | 2040-12-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTH CALIF                                         | CA MSRPWR 6.5 11/01/2039                              | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $10021564.80  | 1.63%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                               | MI MGFFAC 5.5 02/28/2057                              | CUSIP: 59447NBE5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041915.50   | 0.17%             | 2057-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                               | IL ILSGEN 08/01/2044                                  | CUSIP: 45200F6G9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   7300000 | PA      | $7300000.00   | 1.19%             | 2044-08-01      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                              | IL CHIEDU 5.88 12/01/2047                             | CUSIP: 167505ZF6<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3100571.10   | 0.51%             | 2047-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H                                           | NH NFADEV 5 06/01/2055                                | CUSIP: 63607YCX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4750000 | PA      | $4763096.23   | 0.78%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP                              | TX LFLTRN 5 11/01/2036                                | CUSIP: 54714CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $161906.69    | 0.03%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                         | IL MPNFAC 5 06/15/2042                                | CUSIP: 592250EB6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1563437.25   | 0.25%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA FIN AUTH                                                   | IA IASSFH 01/01/2049                                  | CUSIP: 462467XP1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    335000 | PA      | $335000.00    | 0.05%             | 2049-01-01      | Variable      | 1.87%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                               | VA VASDEV 5 07/01/2035                                | CUSIP: 928104PH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3252777.00   | 0.53%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                          | GA MELPWR 5 01/01/2050                                | CUSIP: 6262075F7<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1269970.50   | 0.21%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IND                                                  | IN VLPFAC 4.88 01/01/2044                             | CUSIP: 92028RAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1542369.45   | 0.25%             | 2044-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                          | GA MELPWR 5 01/01/2056                                | CUSIP: 6262077J7<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1297570.70   | 0.21%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                               | VA VASDEV 5 12/31/2047                                | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2539439.75   | 0.41%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHIWTR 5 11/01/2033                                | CUSIP: 167736P50<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1290000 | PA      | $1341173.91   | 0.22%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH                             | WA WASMED 4 12/01/2040                                | CUSIP: 93978HYD1<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503658.35    | 0.08%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                    | OH OHSDEV 3.7 10/01/2028                              | CUSIP: 677525XA0<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    720000 | PA      | $729107.50    | 0.12%             | 2028-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 4 12/01/2041                                | CUSIP: 650116EW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2161407.67   | 0.35%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA                                                | FL BROTRN 5 09/01/2037                                | CUSIP: 11506KGU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $433464.36    | 0.07%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ALA GAS SUPPLY DIST                                   | AL SOUUTL 5 04/01/2032                                | CUSIP: 84131TAZ5<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2180490.60   | 0.36%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA CONVENTION CTR AUTH                           | PA LANFAC 4.75 05/01/2057                             | CUSIP: 514042BE9<br>LEI: 549300F347A3TMO7B762 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2517044.25   | 0.41%             | 2057-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY (THE) (NY)         | NY NYCGEN 5 05/01/2042                                | CUSIP: 64971W7B0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3062172.00   | 0.50%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWARK HIGHER ED FIN CORP TEX                                   | TX NEWEDU 4 08/15/2051                                | CUSIP: 650346DZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1055346.50   | 0.17%             | 2051-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IND                                                  | IN VLPFAC 4.5 01/01/2034                              | CUSIP: 92028RAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1252478.28   | 0.20%             | 2034-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 4 03/15/2046                                | CUSIP: 64990FYP3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   7240000 | PA      | $6954363.18   | 1.13%             | 2046-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 03/01/2046                                   | CUSIP: 452153AW9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2307102.08   | 0.38%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 5 03/15/2045                                | CUSIP: 64990AJA4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031662.90   | 0.17%             | 2045-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 5.12 06/30/2060                             | CUSIP: 650116GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5250000 | PA      | $5301863.18   | 0.86%             | 2060-06-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                              | IL CHIEDU 5 12/01/2046                                | CUSIP: 167505WB8<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   8435000 | PA      | $8023046.41   | 1.31%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                         | GA MAIUTL 09/01/2053                                  | CUSIP: 56035DFK3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1728046.08   | 0.28%             | 2053-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG IS PWR AUTH N Y                                            | NY LSLPWR 09/01/2049                                  | CUSIP: 542691KA7<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1256506.50   | 0.20%             | 2049-09-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSION TEX ECONOMIC DEV CORP                                   | TX MISPOL 12/01/2064                                  | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $838864.32    | 0.14%             | 2064-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 05/01/2053                                  | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    850000 | PA      | $870392.95    | 0.14%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 02/01/2055                                  | CUSIP: 13013JEP7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   7400000 | PA      | $8099579.72   | 1.32%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                       | IL ILSFAC 5 06/15/2029                                | CUSIP: 452143FN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $267653.63    | 0.04%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                               | IL ILSGEN 4 08/15/2040                                | CUSIP: 45204FBE4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2400621.84   | 0.39%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2050                                | CUSIP: 64613CFK9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   4325000 | PA      | $4436963.87   | 0.72%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GROUP FING AGY S C                              | SC PEGUTL 02/01/2054                                  | CUSIP: 70342PAS3<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1299902.88   | 0.21%             | 2054-02-01      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| ISLE WIGHT CNTY VA ECONOMIC DEV AUTH                            | VA ILWDEV 4.75 07/01/2053                             | CUSIP: 464637AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1264104.63   | 0.21%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HOUSTON (TX), CITY OF                                           | TX HOUAPT 4 07/01/2040                                | CUSIP: 442349FV3<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2006671.80   | 0.33%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                             | NY NYTTRN 5 01/01/2032                                | CUSIP: 650116CL8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | MUN               | US        |    650000 | PA      | $672730.76    | 0.11%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM CORDOVA CALIF UNI SCH DIST                               | CA FOLSCD 5 10/01/2037                                | CUSIP: 34440PDU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2625931.44   | 0.43%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHITRN 5 01/01/2047                                | CUSIP: 167593WR9<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503341.65    | 0.08%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 10/01/2030                                   | CUSIP: 4521522N0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531255.55    | 0.09%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                             | PA PASDEV 01/01/2051                                  | CUSIP: 708692CA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $932529.14    | 0.15%             | 2051-01-01      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                     | PA CUMGEN 5 01/01/2029                                | CUSIP: 230614TF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225308.45    | 0.04%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM CORDOVA CALIF UNI SCH DIST                               | CA FOLSCD 5 10/01/2038                                | CUSIP: 34440PDV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $2145482.19   | 0.35%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH                                       | MI GRTWTR 5 07/01/2038                                | CUSIP: 39081JFU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1138504.60   | 0.19%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 4 07/01/2035                                   | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1209908 | PA      | $1230675.71   | 0.20%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                          | RI RISMED 5 07/01/2055                                | CUSIP: 762244NZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502996.85    | 0.08%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN UTE INDIAN TRIBE OF SOUTHN UTE INDIAN RESERVATION COLO | CO STH 5 04/01/2035                                   | CUSIP: 844090AD2<br>LEI: 549300X0RZRBWLO0J697 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1961918.53   | 0.32%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                    | CA LOSAPT 5 05/15/2038                                | CUSIP: 544445LZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $523682.15    | 0.09%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOVE FIELD ARPT MODERNIZATION CORP                              | TX LFLTRN 5 11/01/2033                                | CUSIP: 54714CBJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $162239.33    | 0.03%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                     | IL CHIUTL 5.25 01/01/2053                             | CUSIP: 167727C46<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523490.45    | 0.09%             | 2053-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON (TX), CITY OF                                           | TX HOUAPT 4 07/01/2041                                | CUSIP: 442349FW1<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    750000 | PA      | $742869.90    | 0.12%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY PA MUN AUTH                                     | PA CUMGEN 5 01/01/2030                                | CUSIP: 230614TG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $776051.44    | 0.13%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 4.5 12/31/2054                              | CUSIP: 650116HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1932527.80   | 0.31%             | 2054-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                             | NY PORTRN 4 07/15/2045                                | CUSIP: 73358W5S9<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $970397.80    | 0.16%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 05/01/2036                                   | CUSIP: 452152X97<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    940000 | PA      | $976590.53    | 0.16%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                               | IL ILSHSG 5 02/15/2050                                | CUSIP: 45203KAQ8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $478093.60    | 0.08%             | 2050-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                     | TX HOU 4.12 03/01/2051                                | CUSIP: 442332EE8<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1134675.24   | 0.18%             | 2051-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 4 07/01/2033                                   | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     61087 | PA      | $62564.02     | 0.01%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NAVAJO NATION ARIZ                                              | AZ NAV 5.5 12/01/2030                                 | CUSIP: 639185AQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1226808.71   | 0.20%             | 2030-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUB FING AUTH CALIF                               | CA RVIGEN 5.62 09/01/2053                             | CUSIP: 76827QJZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1111276.32   | 0.18%             | 2053-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE (FL), COUNTY OF                                      | FL MDCTRN 5.25 10/01/2052                             | CUSIP: 59335KFB8<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2558386.00   | 0.42%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                          | RI RISMED 5 07/01/2050                                | CUSIP: 762244NY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $404563.68    | 0.07%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA CONVENTION CTR AUTH                           | PA LANFAC 4.75 05/01/2053                             | CUSIP: 514042BD1<br>LEI: 549300F347A3TMO7B762 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012389.60   | 0.33%             | 2053-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 5.5 12/31/2054                              | CUSIP: 650116HV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $875392.39    | 0.14%             | 2054-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT NEW ORLEANS LA BRD COMMRSPORT FAC                          | LA PNODEV 5 04/01/2043                                | CUSIP: 734782CZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2543366.25   | 0.41%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2044                                | CUSIP: 6461365N7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2066099.20   | 0.34%             | 2044-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER ARIZ INDL DEV AUTH                                     | AZ CHADEV 12/01/2035                                  | CUSIP: 158862CC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1785135.63   | 0.29%             | 2035-12-01      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 0 12/31/2054                                | CUSIP: 650116HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $574119.92    | 0.09%             | 2054-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 4 02/15/2040                                | CUSIP: 64990FPT5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3142165.89   | 0.51%             | 2040-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORP MISS                              | MS MSSDEV 12/01/2030                                  | CUSIP: 60528AAW4<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750000.00   | 0.29%             | 2030-12-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 5 11/15/2030                                | CUSIP: 59261AJ65<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1965228.83   | 0.32%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                           | OH BUCGEN 5 06/01/2055                                | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3425000 | PA      | $2832553.78   | 0.46%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TPK AUTH                                         | NC NCSTRN 5 07/01/2051                                | CUSIP: 65830UAD4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501367.85   | 0.24%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 4 07/01/2041                                   | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    629073 | PA      | $610561.52    | 0.10%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y                                 | NY TRBTRN 5 11/15/2045                                | CUSIP: 89602RDX0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    250000 | PA      | $257305.65    | 0.04%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA OKLA MUN ARPT TR                                          | OK TULAPT 6.25 12/01/2035                             | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1764796.05   | 0.29%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TULARE CALIF                                                    | CA TULUTL 5 11/15/2041                                | CUSIP: 899124KP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002943.60   | 0.33%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                       | PA PASTRN 5 12/01/2048                                | CUSIP: 709224K57<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2056214.80   | 0.34%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA OKLA MUN ARPT TR                                          | OK TULAPT 6.25 12/01/2040                             | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $210694.50    | 0.03%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN                     | CA SFOAPT 5 05/01/2047                                | CUSIP: 79766DRK7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |  10635000 | PA      | $10711301.87  | 1.75%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ISLE WIGHT CNTY VA ECONOMIC DEV AUTH                            | VA ILWDEV 5.25 07/01/2053                             | CUSIP: 464637AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $524558.45    | 0.09%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                             | NY NYTTRN 5 01/01/2033                                | CUSIP: 650116CM6<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1808874.38   | 0.29%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                    | MA MASDEV 5 04/15/2040                                | CUSIP: 57584XCG4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1875195.56   | 0.31%             | 2040-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                    | MA MASDEV 5 10/01/2044                                | CUSIP: 57584Y3V9<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2969168.95   | 0.48%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH                                      | MA MASTRN 5 07/01/2049                                | CUSIP: 575898DS7<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1518291.45   | 0.25%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TPK AUTH                                         | NC NCSTRN 5 07/01/2047                                | CUSIP: 65830UAC6<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502227.80   | 0.24%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                             | NY PORTRN 4 07/15/2055                                | CUSIP: 73358W5U4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $905623.40    | 0.15%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                         | IL MPNFAC 5 06/15/2050                                | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   8150000 | PA      | $8178336.74   | 1.33%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 4 07/01/2037                                   | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   4065000 | PA      | $4073399.51   | 0.66%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX                                                   | TX GALTRN 5.25 08/01/2037                             | CUSIP: 364568JY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1376061.38   | 0.22%             | 2037-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 4 07/01/2051                                | CUSIP: 65000BPS1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2329888.00   | 0.38%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| QUEEN CREEK ARIZ                                                | AZ QUEGEN 5 08/01/2042                                | CUSIP: 74823YCT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $783439.50    | 0.13%             | 2042-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                       | PA PASTRN 5.25 12/01/2047                             | CUSIP: 709225GJ9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1603691.10   | 0.26%             | 2047-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OREGON ST FACS AUTH                                             | OR ORSFAC 5 06/01/2046                                | CUSIP: 68608JVR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2604194.84   | 0.42%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA AVIATION AUTH                             | FL HILTRN 5 10/01/2043                                | CUSIP: 432308H64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1283105.38   | 0.21%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ECONOMIC DEV AUTH                                 | WV WVSDEV 04/15/2055                                  | CUSIP: 95648VBV0<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    750000 | PA      | $772497.53    | 0.13%             | 2055-04-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                | FL ORAMED 5 10/01/2053                                | CUSIP: 68450LHL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1341419.43   | 0.22%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TEX NAV DIST                                      | TX PTBTRN 3 01/01/2050                                | CUSIP: 73360CAN4<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    400000 | PA      | $274694.76    | 0.04%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TOB SECURITIZATION CORP ALASKA                         | AK NRTFAC 4 06/01/2041                                | CUSIP: 66585VBX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1688920.60   | 0.28%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 5.62 04/01/2040                             | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2355706.54   | 0.38%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                              | MO MOSMED 5 02/01/2042                                | CUSIP: 60635H2S7<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    150000 | PA      | $153073.14    | 0.02%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA TURNPIKE COMMISSION (PA)                           | PA PASTRN 5 12/01/2053                                | CUSIP: 709230AX4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $3029108.58   | 0.49%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 5.62 07/01/2029                                | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     66323 | PA      | $70868.53     | 0.01%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                          | GA MELPWR 5.25 07/01/2064                             | CUSIP: 62620HHP0<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1190554.29   | 0.19%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                       | CO COSMED 4 08/01/2049                                | CUSIP: 19648FKT0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2226845.00   | 0.36%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                    | OH OHSDEV 11/01/2042                                  | CUSIP: 677525WF0<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1889323.22   | 0.31%             | 2042-11-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT (CT), STATE OF                                      | CT CTS 4 04/15/2037                                   | CUSIP: 20772KGF0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514701.00    | 0.08%             | 2037-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO TRANSIT AUTHORITY (IL)                                  | IL CHITRN 5 12/01/2051                                | CUSIP: 16772PBT2<br>LEI: 549300CB8XLRGIPN3E12 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1254068.25   | 0.20%             | 2051-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP SR GAS                                     | AZ SLTPWR 5 12/01/2032                                | CUSIP: 79575EAR9<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $13290458.40  | 2.17%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURP AUTH                               | PA NORMED 08/15/2054                                  | CUSIP: 66353RDJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.03%             | 2054-08-15      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHIUTL 5 01/01/2047                                | CUSIP: 167727YK6<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2713757.58   | 0.44%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H                                           | NH NFADEV 5 12/01/2035                                | CUSIP: 63607YCQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4900000 | PA      | $5637931.18   | 0.92%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 0 07/01/2046                                | CUSIP: 74529JQG3<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   7830000 | PA      | $2816534.00   | 0.46%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HOSP FIN AUTH                                       | MI MISMED 5 11/15/2047                                | CUSIP: 59465HXM3<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    865000 | PA      | $961550.26    | 0.16%             | 2047-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                               | WA PTSGEN 5 08/01/2041                                | CUSIP: 735389V70<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3494821.53   | 0.57%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAYS TEX CONS INDPT SCH DIST                                    | TX HAYSCD 4 02/15/2047                                | CUSIP: 4211107D3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1596825.12   | 0.26%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN SPORTS AUTH    | TN METFAC 5.25 07/01/2053                             | CUSIP: 592090JZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2370571.20   | 0.39%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHARTER SCH FIN AUTH                                    | UT UTSEDU 5 04/15/2042                                | CUSIP: 91754TSB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250213.93    | 0.04%             | 2042-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORNEY TEX INDPT SCH DIST                                       | TX FNYSCD 5 02/15/2049                                | CUSIP: 346425EG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503651.10    | 0.08%             | 2049-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MUNICIPAL ELEC AUTH GA                                          | GA MELPWR 5.5 07/01/2064                              | CUSIP: 62620HHQ8<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    750000 | PA      | $777981.68    | 0.13%             | 2064-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HONOLULU HAWAII CITY & CNTY                                     | HI HONUTL 5 07/01/2036                                | CUSIP: 4387014M3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $836219.58    | 0.14%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHIWTR 5 11/01/2029                                | CUSIP: 167736K71<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1877385.24   | 0.31%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 5.62 07/01/2027                                | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     67418 | PA      | $68998.10     | 0.01%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                    | MA MASDEV 5 10/01/2048                                | CUSIP: 57584XA27<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    950000 | PA      | $914919.64    | 0.15%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO EDL & CULTURAL FACS AUTH                               | CO COSEDU 5 03/01/2047                                | CUSIP: 19645R6D8<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1615227.04   | 0.26%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIBERTY DEV CORP                                       | NY NYCDEV 5 11/15/2044                                | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2240000 | PA      | $2243692.64   | 0.37%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                             | WI PUBMED 5 10/01/2052                                | CUSIP: 74447GAB6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050994.40   | 0.33%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NY NYSHGR 4 03/15/2045                                          | NY NYSHGR 4 03/15/2045 (TOBS)                         | CUSIP: 64990FYN8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   8480000 | PA      | $8255356.32   | 1.35%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSPORTATION COMMISSION (TX)                            | TX TXSTRN 5 08/15/2042                                | CUSIP: 88283KCH9<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108666.30   | 0.18%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                             | NY NYTTRN 5 01/01/2030                                | CUSIP: 650116CJ3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518296.50    | 0.08%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER (CO), CITY AND COUNTY OF                                 | CO DENAPT 5.25 11/15/2034                             | CUSIP: 249182UV6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3474756.60   | 0.57%             | 2034-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                             | PA PASDEV 12/01/2038                                  | CUSIP: 708686ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004213.40   | 0.16%             | 2038-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 5 11/15/2037                                | CUSIP: 59261AFS1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252925.43    | 0.04%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 03/01/2034                                   | CUSIP: 452153AN9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2202785.20   | 0.36%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN                | TN METUTL 5 07/01/2046                                | CUSIP: 592098T49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013403.90   | 0.17%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 5.75 07/01/2031                                | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     64420 | PA      | $71585.31     | 0.01%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 01/01/2033                                   | CUSIP: 452152B26<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003481.60   | 0.33%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                             | PA PASDEV 5.75 06/30/2048                             | CUSIP: 70868YAV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2116959.40   | 0.34%             | 2048-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                    | NY NYC 5 08/01/2047                                   | CUSIP: 64966QXW5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2149798.09   | 0.35%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP SR GAS                                     | AZ SLTPWR 5.25 12/01/2028                             | CUSIP: 79575EAP3<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2115318.80   | 0.34%             | 2028-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                   | MD MDSDEV 5 07/01/2050                                | CUSIP: 57420VRL9<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1141017.58   | 0.19%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                              | NY NYUTL 06/15/2044                                   | CUSIP: 64972GC69<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 0.21%             | 2044-06-15      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA                                               | DC DISREV 5 07/01/2037                                | CUSIP: 25483VTC8<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    800000 | PA      | $820009.52    | 0.13%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FLA HEALTH FACS AUTH                                | FL ORAMED 4.5 10/01/2056                              | CUSIP: 68450LJR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1120034.80   | 0.18%             | 2056-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                    | MA MASDEV 5.25 07/01/2052                             | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1797467.40   | 0.29%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IOWA                                    | IA TOBGEN 4 06/01/2049                                | CUSIP: 888805CF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $642801.00    | 0.10%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TEX                                                 | TX HAR 4 09/15/2049                                   | CUSIP: 4140054E5<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |   4750000 | PA      | $4524495.18   | 0.74%             | 2049-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN TOB SECURITIZATION CORP ALASKA                         | AK NRTFAC 4 06/01/2050                                | CUSIP: 66585VBY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $633123.08    | 0.10%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 4 11/15/2045                                | CUSIP: 59261AJ99<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1643882.45   | 0.27%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                       | PA PASTRN 4 12/01/2051                                | CUSIP: 709225EV4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1815929.20   | 0.30%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                               | IL ILSTRN 12/01/2043                                  | CUSIP: 45203PAD6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2206072.05   | 0.36%             | 2043-12-01      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| UNITED STATES STEEL CORP                                        | AL HOODEV 5.75 10/01/2049                             | CUSIP: 439241AA8<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | MUN               | US        |    900000 | PA      | $913103.64    | 0.15%             | 2049-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                             | PA PASDEV 12/01/2037                                  | CUSIP: 708686ET3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2209367.16   | 0.36%             | 2037-12-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                       | MD MDSMED 07/01/2041                                  | CUSIP: 574217V28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2300000.00   | 0.37%             | 2041-07-01      | Variable      | 1.70%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA HSG FIN AGY                                        | PA PASSFH 10/01/2050                                  | CUSIP: 70879QHZ9<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.07%             | 2050-10-01      | Variable      | 1.85%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO MUN ENERGY ACQUISITION AUTH                          | NM NMSPWR 06/01/2054                                  | CUSIP: 647207BL2<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2384958.84   | 0.39%             | 2054-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECONOMIC DEV CORP                                   | MD MDSDEV 4 07/01/2040                                | CUSIP: 57420VRK1<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    500000 | PA      | $488810.80    | 0.08%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSPORTATION COMMISSION (TX)                            | TX TXSTRN 5 08/15/2041                                | CUSIP: 88283KCG1<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |    750000 | PA      | $835580.03    | 0.14%             | 2041-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 4 06/15/2036                                | CUSIP: 6461365H0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2308930.43   | 0.38%             | 2036-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                              | IL CHIEDU 5 12/01/2044                                | CUSIP: 167505TH9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    750000 | PA      | $741009.83    | 0.12%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT PLEASANT WIS                                              | WI MTPUTL 5 04/01/2048                                | CUSIP: 622823AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3052605.90   | 0.50%             | 2048-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARATHON OIL CORP                                               | LA SJBCTF 06/01/2037                                  | CUSIP: 79020FBA3<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | MUN               | US        |   4650000 | PA      | $4646153.06   | 0.76%             | 2037-06-01      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                              | NY NYCUTL 5.25 06/15/2052                             | CUSIP: 64972GB60<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2133833.67   | 0.35%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAND FORKS N D                                                 | ND GRAMED 3 12/01/2046                                | CUSIP: 38546WDP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3550000 | PA      | $2766844.44   | 0.45%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                    | CA LOSAPT 4 05/15/2036                                | CUSIP: 544445XZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $831249.68    | 0.14%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDL FACS AUTH                                     | NJ NJSEDU 5 07/01/2042                                | CUSIP: 646066L99<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3038328.60   | 0.50%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 08/01/2055                                  | CUSIP: 13013JEB8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1623882.90   | 0.26%             | 2055-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN (TX), CITY OF                                            | TX AUSAPT 5 11/15/2039                                | CUSIP: 052398GX6<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3438258.50   | 0.56%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 11/01/2043                                     | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    234690 | PA      | $160469.40    | 0.03%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                  | AL BBEUTL 12/01/2055                                  | CUSIP: 09182TFT9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2499987.60   | 0.41%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT SEATTLE WASH                                               | WA PTSGEN 5 05/01/2042                                | CUSIP: 735389A24<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1520725.20   | 0.25%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                    | CA LOSAPT 4 05/15/2037                                | CUSIP: 544445YA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516076.80    | 0.08%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY INDL DEV AGY                                  | NY NYCDEV 4 03/01/2045                                | CUSIP: 64971PKJ3<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    750000 | PA      | $737402.18    | 0.12%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV                               | PA PHIDEV 5 05/01/2035                                | CUSIP: 71783DBU8<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    250000 | PA      | $262708.43    | 0.04%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO TRANSIT AUTHORITY (IL)                                  | IL CHITRN 5 12/01/2045                                | CUSIP: 16772PCB0<br>LEI: 549300CB8XLRGIPN3E12 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517964.00    | 0.08%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONGVIEW TEX INDPT SCH DIST                                     | TX LONSCD 4 02/15/2049                                | CUSIP: 543264ZJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2143269.00   | 0.35%             | 2049-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H                                           | NH NFADEV 5.25 07/01/2048                             | CUSIP: 63607YBJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $967278.79    | 0.16%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                              | IL CHIEDU 5 12/01/2034                                | CUSIP: 167505TG1<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100673.91    | 0.02%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 15 FLA                                | FL VGEDEV 4.8 05/01/2055                              | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    795000 | PA      | $776598.21    | 0.13%             | 2055-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MARATHON OIL CORP                                               | LA SJBCTF 06/01/2037                                  | CUSIP: 79020FBB1<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2544090.00   | 0.41%             | 2037-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| HARBOR POINT INFRASTRUCTURE IMPT DIST CONN                      | CT HRBIMP 5 04/01/2039                                | CUSIP: 41154VAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1167379.72   | 0.19%             | 2039-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALASKA ST HSG FIN CORP                                          | AK AKSHSG 5 12/01/2038                                | CUSIP: 011839VU8<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    750000 | PA      | $799229.48    | 0.13%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARATHON OIL CORP                                               | LA SJBCTF 06/01/2037                                  | CUSIP: 79020FAY2<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2246853.83   | 0.37%             | 2037-06-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV                               | PA PHIDEV 10/01/2030                                  | CUSIP: 71781QEJ3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    595000 | PA      | $595000.00    | 0.10%             | 2030-10-01      | Variable      | 1.88%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PORTS AUTH                                    | SC SCSTRN 5 07/01/2048                                | CUSIP: 837123HM3<br>LEI: 5493001YXW15H9J1M026 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1761492.95   | 0.29%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                             | TX HOUAPT 4 07/15/2041                                | CUSIP: 442349GA8<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1987739.04   | 0.32%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 05/01/2039                                   | CUSIP: 452152Y47<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2679429.74   | 0.44%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP                                      | NEW YORK ST URBAN DEV CORP (TOBS)                     | CUSIP: 64985TER8<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |  10200000 | PA      | $10669159.20  | 1.74%             | 2049-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                         | IL MPNFAC 4 12/15/2042                                | CUSIP: 592250EW0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2075088.12   | 0.34%             | 2042-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 6 04/01/2035                                | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $3070078.28   | 0.50%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                              | IL CHIEDU 5 12/01/2036                                | CUSIP: 167505TJ5<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500679.55    | 0.08%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                        | PA PHISCD 5 09/01/2033                                | CUSIP: 717883QL9<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1758206.21   | 0.29%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                              | NY NYCUTL 5 06/15/2048                                | CUSIP: 64972GPT5<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    600000 | PA      | $607569.84    | 0.10%             | 2048-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                              | NY NYCUTL 5 06/15/2046                                | CUSIP: 64972GMW1<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007127.00   | 0.33%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                | TX ARLEDU 5 12/01/2047                                | CUSIP: 041806MW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252246.98    | 0.04%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX                                                   | TX ARLGEN 5 02/15/2048                                | CUSIP: 04184RBT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1626111.84   | 0.26%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHARTER SCH FIN AUTH                                    | UT UTSEDU 5 04/15/2047                                | CUSIP: 91754TSC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000291.50   | 0.16%             | 2047-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO CITY BOARD OF EDUCATION (IL)                            | IL CHIEDU 5 04/01/2042                                | CUSIP: 167510AU0<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2018974.80   | 0.33%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                 | KY KYSPWR 06/01/2055                                  | CUSIP: 74440DFN9<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1297370.28   | 0.21%             | 2055-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 02/01/2029                                   | CUSIP: 452152H20<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2148832.14   | 0.35%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                    | NY NYC 03/01/2048                                     | CUSIP: 64966QAA8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.10%             | 2048-03-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH                                               | MI MISFIN 5 06/01/2049                                | CUSIP: 59447TL92<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |     90000 | PA      | $90302.27     | 0.01%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH                                  | WV WVSMED 06/01/2034                                  | CUSIP: 956622P40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1800000.00   | 0.29%             | 2034-06-01      | Variable      | 1.87%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AUTH FLA                                             | FL CTSGEN 4.75 12/01/2042                             | CUSIP: 14055AAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512458.35    | 0.08%             | 2042-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2042                                | CUSIP: 64613CEX2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    600000 | PA      | $668793.36    | 0.11%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                              | NY NYCUTL 4 06/15/2051                                | CUSIP: 64972GZH0<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   5800000 | PA      | $5389230.08   | 0.88%             | 2051-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY INDL DEV AGY                                  | NY NYCDEV 4 03/01/2045                                | CUSIP: 64971PKL8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    900000 | PA      | $871024.77    | 0.14%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GERALD R FORD INTL ARPT AUTH MICH                               | Gerald R Ford International Airport Authority         | CUSIP: 373695AZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020180.30   | 0.17%             | 2051-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HWY AUTH                                       | IL ILSTRN 4 01/01/2046                                | CUSIP: 452252PY9<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3773211.20   | 0.61%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH                                      | MA MASTRN 5 07/01/2046                                | CUSIP: 575896YJ8<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5159639.50   | 0.84%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN N Y LOC DEV CORP                                     | NY BRODEV 4 10/01/2045                                | CUSIP: 113168BF4<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1197285.25   | 0.20%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 5 12/01/2035                                | CUSIP: 13013JHJ8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3663685.03   | 0.60%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FLA EDL FAC AUTH                                   | FL VOLEDU 5 10/15/2047                                | CUSIP: 928836MP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010838.70   | 0.16%             | 2047-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE (FL), COUNTY OF                                      | FL MIATRN 5 10/01/2041                                | CUSIP: 59333PU30<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3030154.20   | 0.49%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSPORTATION AUTHORITY (NY)                      | NY MTATRN 4 11/15/2054                                | CUSIP: 59260XCX4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4269730.12   | 0.70%             | 2054-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA                             | AL SEEPWR 03/01/2055                                  | CUSIP: 84136HBT9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   3050000 | PA      | $3268430.63   | 0.53%             | 2055-03-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| SALT VERDE FINL CORP SR GAS                                     | AZ SLTPWR 5 12/01/2037                                | CUSIP: 79575EAS7<br>LEI: 549300VEWOZY6TQOIF03 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $6131805.90   | 1.00%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TWY AUTH                                            | NY NYSTRN 4 01/01/2045                                | CUSIP: 650010CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3886898.00   | 0.63%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                             | IN INPGEN 5 02/01/2054                                | CUSIP: 45528UZK0<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |    850000 | PA      | $865560.95    | 0.14%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NY NYCUTL 5.25 06/15/2052                                       | NY NYCUTL 5.25 06/15/2052 (TOBS)                      | CUSIP: 64972GB60<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   6920000 | PA      | $7309187.72   | 1.19%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N J                                | NJ TOBGEN 5.25 06/01/2046                             | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $805826.64    | 0.13%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX                                                   | TX GALTRN 5.25 08/01/2035                             | CUSIP: 364568JW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1393985.13   | 0.23%             | 2035-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CITY DEPARTEMENT OF WATER AND POWER (CA)            | CA LOSUTL 5 07/01/2048                                | CUSIP: 544525XF0<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2029336.60   | 0.33%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                         | GA MAIUTL 5 05/15/2043                                | CUSIP: 56035DBV3<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1485657.53   | 0.24%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST LOUIS CNTY MO INDL DEV AUTH                                  | MO STLDEV 5 09/01/2038                                | CUSIP: 791524CM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1641922.72   | 0.27%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KNOX CNTY TENN HEALTH EDL & HSG FACS BRD                        | TN KNOMED 5 09/01/2040                                | CUSIP: 49952MEJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1586494.91   | 0.26%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH                                 | VA ARLMED 5 07/01/2035                                | CUSIP: 041438GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $760449.97    | 0.12%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                               | VA VASDEV 5 01/01/2034                                | CUSIP: 928104MU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $580882.06    | 0.09%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 4 07/01/2046                                   | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     66635 | PA      | $60161.30     | 0.01%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP                              | TX NHPHSG 5 04/01/2046                                | CUSIP: 64542RAY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750098.48    | 0.12%             | 2046-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TEX CULTURAL ED FACS FIN CORP                      | TX TAREDU 4 10/01/2042                                | CUSIP: 87638QRZ4<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2512389.00   | 0.41%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                  | AL BBEUTL 10/01/2052                                  | CUSIP: 09182TAF4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    710000 | PA      | $716551.24    | 0.12%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y                                 | NY TRBTRN 5 11/15/2049                                | CUSIP: 89602RFZ3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   8950000 | PA      | $9336518.28   | 1.52%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PORTS AUTH                                    | SC SCSTRN 5 07/01/2036                                | CUSIP: 837123HH4<br>LEI: 5493001YXW15H9J1M026 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518853.70    | 0.08%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES WTR AUTH MICH                                       | MI GRTWTR 5.25 07/01/2053                             | CUSIP: 39081HFG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111086.40   | 0.34%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                             | WI PUBFIN 4 07/01/2051                                | CUSIP: 74439YDW8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1370516.94   | 0.22%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                             | IN INSFIN 4 07/01/2045                                | CUSIP: 45471ATD4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1090246.20   | 0.18%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSGEN 5 02/15/2041                                | CUSIP: 64990KAW3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5200.52      | 0.00%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH                              | MO MOSMED 10/01/2035                                  | CUSIP: 6069014P8<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   2390000 | PA      | $2390000.00   | 0.39%             | 2035-10-01      | Variable      | 1.65%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX HIGHER ED FIN CORP                                | TX ARLEDU 5.88 06/15/2065                             | CUSIP: 041807PW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1273915.38   | 0.21%             | 2065-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                    | NJ NJSDEV 5 10/01/2037                                | CUSIP: 64578CCE9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3569829.20   | 0.58%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TEX                                                   | TX GALTRN 5 08/01/2034                                | CUSIP: 364568JV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1718701.85   | 0.28%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                             | NY NYTTRN 4.38 10/01/2045                             | CUSIP: 650116DA1<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1688738.63   | 0.28%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED                                              | IL CHIEDU 5 12/01/2046                                | CUSIP: 167505TK2<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   5400000 | PA      | $5136271.56   | 0.84%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 11/15/2050                                  | CUSIP: 59261AM53<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.02%             | 2050-11-15      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                    | OH OHSDEV 5 07/01/2049                                | CUSIP: 67754AAF1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2471894.30   | 0.40%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 4.55 07/01/2040                             | CUSIP: 74529JRQ0<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4630824.14   | 0.75%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHITRN 5 07/01/2048                                | CUSIP: 167590FA1<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    900000 | PA      | $905121.36    | 0.15%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y                                 | NY TRBTRN 5 11/15/2051                                | CUSIP: 89602RGP4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2018311.62   | 0.33%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA                                                | FL BROAPT 5 10/01/2045                                | CUSIP: 114894WJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000514.20   | 0.16%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TPK AUTH                                          | NJ NJSTRN 5 01/01/2044                                | CUSIP: 646140GC1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4374812.40   | 0.71%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP                   | TX TXSTRN 5.5 06/30/2041                              | CUSIP: 882667CK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1753976.24   | 0.29%             | 2041-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 01/01/2055                                  | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   8500000 | PA      | $8988212.80   | 1.46%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH                               | VA VASDEV 5 01/01/2032                                | CUSIP: 928104MS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $529156.00    | 0.09%             | 2032-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST STAD AUTH                                           | MD MDSEDU 4 06/01/2046                                | CUSIP: 574294AV6<br>LEI: 549300VA283TTQRDNF71 | Long             | DBT              | MUN               | US        |   1845000 | PA      | $1796952.69   | 0.29%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                    | NJ NJSDEV 5.12 07/01/2042                             | CUSIP: 6459182F9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2512860.00   | 0.41%             | 2042-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VIRGINIA PORT AUTH                                              | VA VASTRN 5 07/01/2041                                | CUSIP: 928077JM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1410664.36   | 0.23%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                             | PR PRC 0 07/01/2033                                   | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     78612 | PA      | $58207.64     | 0.01%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COOK (IL), COUNTY OF                                            | IL COOGEN 4 11/15/2041                                | CUSIP: 213248CP0<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2517520.75   | 0.41%             | 2041-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FLA                                                  | FL PASGEN 5.75 09/01/2054                             | CUSIP: 70252AAX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2356773.45   | 0.38%             | 2054-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY HEALTH CARE FACS FING AUTH                           | NJ NJSMED 5 07/01/2043                                | CUSIP: 645790FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508906.70   | 0.25%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CALIF                        | CA TOBGEN 5 06/01/2039                                | CUSIP: 888804CQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528673.60    | 0.09%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BASE VLG MET DIST NO 2 COLO                                     | CO BSEFAC 5.75 12/01/2046                             | CUSIP: 069781AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000452.60   | 0.16%             | 2046-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 10/01/2029                                   | CUSIP: 4521522M2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   5095000 | PA      | $5424336.72   | 0.88%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH                                     | PA LANMED 5 11/01/2046                                | CUSIP: 514045W58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3569486.20   | 0.58%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                    | NY NYC 08/01/2040                                     | CUSIP: 64966LCP4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1300000.00   | 0.21%             | 2040-08-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                           | SC SCSMED 4 12/01/2044                                | CUSIP: 83703EMQ5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   2550000 | PA      | $2402213.99   | 0.39%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY INC KY PUB ENERGY AUTH                                 | KY KYSPWR 5 05/01/2036                                | CUSIP: 74440DGL2<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5500562.50   | 0.90%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUSTIN (TX), CITY OF                                            | TX AUSAPT 5 11/15/2052                                | CUSIP: 052398HW7<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2029492.00   | 0.33%             | 2052-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IND LOC PUB IMPT BD BK                             | IN INPGEN 4 02/01/2044                                | CUSIP: 45528UZG9<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002707.40   | 0.33%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2050                                | CUSIP: 64613CFF0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1354778.43   | 0.22%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHITRN 5 01/01/2044                                | CUSIP: 1675932L5<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2605038.75   | 0.42%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH                         | PR PRCUTL 5 07/01/2047                                | CUSIP: 745160SJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4700000 | PA      | $4710538.81   | 0.77%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                    | MA MASDEV 10/01/2042                                  | CUSIP: 57583RWB7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.02%             | 2042-10-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                  | AL BBEUTL 5 08/01/2035                                | CUSIP: 09182TFS1<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    500000 | PA      | $558235.50    | 0.09%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FOLSOM CORDOVA CALIF UNI SCH DIST                               | CA FOLSCD 5 10/01/2037                                | CUSIP: 34440PDJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1730000 | PA      | $2088671.90   | 0.34%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA PORT AUTH                                              | VA VASTRN 5 07/01/2045                                | CUSIP: 928077JN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2015234.80   | 0.33%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CALIF                        | CA TOBGEN 5 06/01/2048                                | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $809540.48    | 0.13%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FD                                        | MI MISGEN 5 12/31/2043                                | CUSIP: 594698QT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1827370.44   | 0.30%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS SPORTS FACS AUTH                                       | IL ILSFAC 5 06/15/2028                                | CUSIP: 452143FM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $787349.33    | 0.13%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FLA HEALTH FACS AUTH                            | FL PALMED 4 06/01/2041                                | CUSIP: 696507VK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $609290.89    | 0.10%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                             | PA PASDEV 5.25 06/30/2053                             | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7200000 | PA      | $7326839.52   | 1.19%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUTH                                 | PA ALLMED 4 07/15/2039                                | CUSIP: 01728A5C6<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503932.50    | 0.08%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO HEALTH FACS AUTH                                          | ID IDSMED 5 12/01/2047                                | CUSIP: 45129UCF9<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1116700.64   | 0.18%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN                     | CA SFOAPT 5 01/01/2047                                | CUSIP: 79766DNT2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1520196.00   | 0.25%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                             | NY PORTRN 4 11/01/2047                                | CUSIP: 73358W4B7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2440700.60   | 0.40%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR                                | CA LOSUTL 5 07/01/2042                                | CUSIP: 5444953Q5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2039880.00   | 0.33%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                  | AL BBEUTL 11/01/2053                                  | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2400685.65   | 0.39%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHITRN 5 01/01/2043                                | CUSIP: 1675932K7<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    750000 | PA      | $787835.78    | 0.13%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 4.25 06/15/2040                             | CUSIP: 64613CCU0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    750000 | PA      | $783563.85    | 0.13%             | 2040-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO TRANSIT AUTHORITY (IL)                                  | IL CHITRN 4 12/01/2055                                | CUSIP: 16772PCE4<br>LEI: 549300CB8XLRGIPN3E12 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1643628.82   | 0.27%             | 2055-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH                             | WI WISMED 5.5 12/01/2052                              | CUSIP: 97712JGT4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1721126.08   | 0.28%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                    | OH OHSDEV 11/01/2039                                  | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1321447.79   | 0.22%             | 2039-11-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                    | NY MTATRN 5 11/15/2033                                | CUSIP: 59261AHE0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    350000 | PA      | $355273.14    | 0.06%             | 2033-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSGEN 5 02/15/2041                                | CUSIP: 64990KDC4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2990000 | PA      | $3070063.83   | 0.50%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                    | NJ NJSDEV 5 01/01/2048                                | CUSIP: 64577BHW7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    500000 | PA      | $497645.00    | 0.08%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA                                              | AL JEFUTL 5.25 10/01/2049                             | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3690644.30   | 0.60%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA                                              | AL JEFUTL 5.25 10/01/2045                             | CUSIP: 472682ZQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1618156.65   | 0.26%             | 2045-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 5 02/15/2043                                | CUSIP: 64990FWS9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5200.52      | 0.00%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 4.55 07/01/2040                             | CUSIP: 74529JPV1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |    300000 | PA      | $302010.27    | 0.05%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                  | AL BBEUTL 06/01/2049                                  | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1125562.10   | 0.18%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CENTRAL TEX REGL MOBILITY AUTH                                  | TX CTXGEN 4 01/01/2051                                | CUSIP: 155498LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4320000 | PA      | $3902745.89   | 0.64%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST PORT AUTH                                      | MA MASTRN 5 07/01/2036                                | CUSIP: 575896TJ4<br>LEI: 254900JRR8IDSSKWCL90 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1801747.38   | 0.29%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                         | IL MPNFAC 4 12/15/2047                                | CUSIP: 592250EX8<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1342181.55   | 0.22%             | 2047-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH DAKOTA ST HEALTH & EDL FACS AUTH                          | SD SDSMED 5 09/01/2040                                | CUSIP: 83755VE26<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    700000 | PA      | $712491.71    | 0.12%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA                                              | AL JEFUTL 5.5 10/01/2053                              | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $2238680.88   | 0.36%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OKALOOSA CNTY FLA                                               | FL OKADEV 5.75 05/15/2055                             | CUSIP: 678226AC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205430.76    | 0.03%             | 2055-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                           | NY NYSHGR 5 10/01/2029                                | CUSIP: 65000BQB7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5352.51      | 0.00%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS ST DEV FIN AUTH                                        | AR ARSDEV 5.7 05/01/2053                              | CUSIP: 04110FAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1073713.20   | 0.17%             | 2053-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA POLLUTION CTL FING AUTH                              | CA CASPOL 5 11/21/2045                                | CUSIP: 13054WAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13500000 | PA      | $13517487.90  | 2.20%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HEALTH CARE FACS AUTH                             | WA WASMED 5 09/01/2050                                | CUSIP: 93978HXK6<br>LEI: 549300ZVPWQIL3N5TL85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534927.35   | 0.25%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                               | CA CCEDEV 07/01/2053                                  | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3297751.48   | 0.54%             | 2053-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                           | AZ AZSMED 02/01/2048                                  | CUSIP: 04052EAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $460000.00    | 0.07%             | 2048-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSN DEV CORP                                        | NY NYTTRN 5.38 06/30/2060                             | CUSIP: 650116HA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6600000 | PA      | $6628115.34   | 1.08%             | 2060-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LIBERTY N Y DEV CORP                                            | NY LBTDEV 5.5 10/01/2037                              | CUSIP: 531127CM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1830979.90   | 0.30%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                       | CO COSMED 08/01/2049                                  | CUSIP: 19648FJJ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1301409.59   | 0.21%             | 2049-08-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO (IL), CITY OF                                           | IL CHIWTR 5 11/01/2038                                | CUSIP: 167736Q26<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2062087.80   | 0.34%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                    | NY NYC 09/01/2049                                     | CUSIP: 64966QH37<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.02%             | 2049-09-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2039                                | CUSIP: 6461367F2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2299207.29   | 0.37%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH                                           | AZ AZSEDU 5 07/01/2052                                | CUSIP: 04052BEU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $725972.01    | 0.12%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY                                         | UT UTSFAC 4 10/15/2036                                | CUSIP: 917467CB6<br>LEI: 549300WD2FDRNXU16V82 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100381.67    | 0.02%             | 2036-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                    | NJ NJSDEV 5.25 09/15/2029                             | CUSIP: 64578CAH4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3530000 | PA      | $3536927.27   | 0.58%             | 2029-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUB FING AUTH CALIF                               | CA RVIGEN 5.5 09/01/2037                              | CUSIP: 76827QHJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $589560.51    | 0.10%             | 2037-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                     | IL CHI 5.5 01/01/2049                                 | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    305000 | PA      | $306541.84    | 0.05%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y                                 | NY TRBTRN 4 11/15/2056                                | CUSIP: 89602RGR0<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1837307.00   | 0.30%             | 2056-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP                                      | NY NYSDEV 4 03/15/2045                                | CUSIP: 6500357N2<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3172233.68   | 0.52%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUB FING AUTH CALIF                               | CA RVIGEN 5.75 09/01/2052                             | CUSIP: 76827QHK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1454540.78   | 0.24%             | 2052-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ECONOMIC DEV FIN AUTH                                  | KY KYSECO 5 12/01/2045                                | CUSIP: 49127KBV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014208.40   | 0.17%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 11/01/2033                                   | CUSIP: 452152M81<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3043401.30   | 0.50%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 5 07/01/2058                                | CUSIP: 74529JPX7<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   3870000 | PA      | $3798515.30   | 0.62%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                         | CA CASFIN 5 12/31/2043                                | CUSIP: 13048VBY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4400000 | PA      | $4474129.44   | 0.73%             | 2043-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                    | NJ NJSDEV 5.38 01/01/2043                             | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001297.70   | 0.16%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DISTRICT COLUMBIA                                               | DC DISREV 5 07/01/2048                                | CUSIP: 25483VTT1<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2806782.16   | 0.46%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 12/15/2028                                | CUSIP: 6461366E6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1129824.78   | 0.18%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                     | IL ILS 5 12/01/2041                                   | CUSIP: 452153HM4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4306295.60   | 0.70%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL DEV                               | PA PHIDEV 5 05/01/2038                                | CUSIP: 71783DBX2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523180.10    | 0.09%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON (TX), CITY OF                                           | TX HOUUTL 5 11/15/2044                                | CUSIP: 4424355Y5<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001001.80   | 0.16%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP                            | PR PRCGEN 4.75 07/01/2053                             | CUSIP: 74529JPW9<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1199401.04   | 0.20%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH BRDG & TUNL AUTH N Y                                 | NY TRBTRN 5 05/15/2051                                | CUSIP: 89602HAB3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2595221.50   | 0.42%             | 2051-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CORRIDOR TRANSN AUTH CALIF                              | CA ALATRN 5 10/01/2052                                | CUSIP: 010869JS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2751145.20   | 0.45%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                                 | NJ NJSTRN 5 06/15/2036                                | CUSIP: 64613CAU2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4508383.60   | 0.73%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY ALA INDL DEV AUTH                                   | AL MOBPOL 4.75 12/01/2054                             | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1197921.38   | 0.20%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-24

**Name of Applicant:** Western Asset Managed Municipals Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer