# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0002071691-25-002521
**Filing Date:** 2025-10
**Character Count:** 86980
**Document Hash:** 822ec519427d9077b83d1c78beb16b20
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-002521.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0002071691-25-002521

**CONFORMED SUBMISSION TYPE**: NT NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NT NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251393724

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES TRUST
- **DATE OF NAME CHANGE:** 19991213

## Series and Classes Contracts Data

### iShares Long-Term National Muni Bond ETF (Series ID: S000091081)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000258476 | iShares Long-Term National Muni Bond ETF | LMUB            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** iShares Trust

- **b. Investment Company Act file number:** 811-09729

- **c. CIK number of Registrant:** 0001100663

- **d. LEI of Registrant:** 5493000860OXIC4B5K91

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

  - **Street Address 1:** 400 Howard Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

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

- **a. Name of Series:** iShares Long-Term National Muni Bond ETF

- **b. EDGAR series identifier (if any):** S000091081

- **c. LEI of Series:** 529900PJZFTEDNFY8R39

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $21839556.58

**Total Liabilities:** $1602.90

**Net Assets:** $21837953.68

**Cash Not Reported:** $0.21

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 7477.68000000 | **10-Year:** 8343.77000000 | **30-Year:** 8927.07000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000258476 | -0.54%               | -0.81%               | -1.14%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $570.63                  | $-201247.29                                |
| Month 2  | $0.00                    | $-268263.50                                |
| Month 3  | $0.00                    | $-328155.94                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| State of California                                                   | State of California                                                                | CUSIP: 13063DVE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $98274.68     | 0.45%             | 2040-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| King & Snohomish Counties School District No. 417 Northshore          | King & Snohomish Counties School District No. 417 Northshore, Series 2024          | CUSIP: 494656Z87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105056.78    | 0.48%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lamar Consolidated Independent School District                        | Lamar Consolidated Independent School District, Series 2023                        | CUSIP: 513174H88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $87039.89     | 0.40%             | 2048-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Colorado                                                     | State of Colorado, Series 2019O                                                    | CUSIP: 19668QMC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $90957.62     | 0.42%             | 2044-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                               | Port Authority of New York & New Jersey, Series 241                                | CUSIP: 73358XJR4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    150000 | PA      | $153083.22    | 0.70%             | 2053-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Transit System                                   | County of Miami-Dade Transit System, Series 2022                                   | CUSIP: 59334PKZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60202.33     | 0.28%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Government of Nashville & Davidson County TN             | Metropolitan Government of Nashville & Davidson County, Series 2024C               | CUSIP: 592112XT8<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |    115000 | PA      | $123701.52    | 0.57%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Independent School District                                    | Dallas Independent School District, Series 2024                                    | CUSIP: 235308P72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $114516.44    | 0.52%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                             | Indiana Finance Authority, Series 2021-1                                           | CUSIP: 45505MJW7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    115000 | PA      | $92510.00     | 0.42%             | 2040-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Kansas City                                                   | City of Kansas City, Series 2025A                                                  | CUSIP: 485116J24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25687.42     | 0.12%             | 2049-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand River Dam Authority                                             | Grand River Dam Authority, Series 2023                                             | CUSIP: 386442ZH3<br>LEI: 549300XGK5KWQHON4Q79 | Long             | DBT              | MUN               | US        |    115000 | PA      | $120201.68    | 0.55%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Galena Park Independent School District                               | Galena Park Independent School District, Series 2024                               | CUSIP: 363335GW4<br>LEI: 549300705BA4XGM4U218 | Long             | DBT              | MUN               | US        |    200000 | PA      | $177438.18    | 0.81%             | 2049-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                               | Massachusetts School Building Authority, Series 2020A                              | CUSIP: 576000YY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151902.42    | 0.70%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Tacoma Electric System                                        | City of Tacoma Electric System, Series 2021                                        | CUSIP: 873519PZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $112956.44    | 0.52%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                               | Los Angeles Department of Water & Power, Series 2019D                              | CUSIP: 544532AQ7<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |     50000 | PA      | $49632.21     | 0.23%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Turnpike & Infrastructure Commission                             | Ohio Turnpike & Infrastructure Commission, Series 2013A-2                          | CUSIP: 67760HKB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $49672.24     | 0.23%             | 2040-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Mobile AL                                                     | City of Mobile, Series 2025A                                                       | CUSIP: 6071144H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104217.77    | 0.48%             | 2045-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                      | New York State Thruway Authority, Series N                                         | CUSIP: 650009U35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $82037.44     | 0.38%             | 2043-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                 | California Infrastructure & Economic Development Bank, Series 2023                 | CUSIP: 13034A2M1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    165000 | PA      | $158610.80    | 0.73%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas State Technical College                                         | Texas State Technical College, Series 2022A                                        | CUSIP: 88276RFJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $160846.86    | 0.74%             | 2042-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                         | Commonwealth of Massachusetts, Series 2022B                                        | CUSIP: 57582RV60<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |     50000 | PA      | $40385.76     | 0.18%             | 2041-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Cook                                                        | County of Cook, Series 2024                                                        | CUSIP: 213248ES2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $122063.88    | 0.56%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                    | New York State Dormitory Authority, Series 2019A                                   | CUSIP: 64990KDJ9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50724.56     | 0.23%             | 2043-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                  | District of Columbia, Series 2019A                                                 | CUSIP: 25476FXV5<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    140000 | PA      | $141658.72    | 0.65%             | 2044-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                 | Metropolitan Transportation Authority, Series 2024A                                | CUSIP: 59261A2D8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    195000 | PA      | $198067.27    | 0.91%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District                                   | Los Angeles Unified School District, Series 2024QRR                                | CUSIP: 544647JH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $158972.49    | 0.73%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                               | Washington Suburban Sanitary Commission, Series 2025                               | CUSIP: 940158JX7<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |    150000 | PA      | $135659.49    | 0.62%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                          | New York City Transitional Finance Authority, Series 2025E                         | CUSIP: 64972JPN2<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102911.55    | 0.47%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                 | Metropolitan Transportation Authority, Series 2025A                                | CUSIP: 59261A5C7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103476.73    | 0.47%             | 2045-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp.                                        | Empire State Development Corp., Series 2024A                                       | CUSIP: 64985TGH8<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    110000 | PA      | $111772.19    | 0.51%             | 2054-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago                                                       | City of Chicago, Series 2024A                                                      | CUSIP: 167486T25<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    150000 | PA      | $142152.14    | 0.65%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado School of Mines                                              | Colorado School of Mines, Series 2022B                                             | CUSIP: 19658QGE1<br>LEI: 549300TQMFMDZTM5HY46 | Long             | DBT              | MUN               | US        |    150000 | PA      | $154911.11    | 0.71%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of San Antonio Electric & Gas Systems                            | City of San Antonio Electric & Gas Systems, Series 2024A                           | CUSIP: 79625GJK0<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    200000 | PA      | $214359.90    | 0.98%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                   | Idaho Housing & Finance Association, Series 2024A                                  | CUSIP: 45130ACR4<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103166.11    | 0.47%             | 2048-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                  | Chicago O'Hare International Airport, Series 2023                                  | CUSIP: 1675934B5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107000.09    | 0.49%             | 2039-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                               | Los Angeles Department of Water & Power, Series 2024A                              | CUSIP: 544532KK9<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103802.83    | 0.48%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                             | BlackRock Liquidity MuniCash Funds: Institutional Shares                           | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |     99546 | NS      | $99556.18     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue          | Massachusetts Bay Transportation Authority Sales Tax, Series 2023A, Sub-Series A-1 | CUSIP: 575579Q91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $132836.61    | 0.61%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                        | New Jersey Transportation Trust Fund Authority, Series 2023BB                      | CUSIP: 64613CEG9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    255000 | PA      | $257465.37    | 1.18%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                      | City of New York, Series 2020, Sub-Series B-1                                      | CUSIP: 64966QFS4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55948.81     | 0.26%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mesa County Valley School District No. 51 Grand Junction/CO           | Mesa County Valley School District No. 51 Grand Junction, Series 2025              | CUSIP: 590621LZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104737.83    | 0.48%             | 2049-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts Transportation Fund                     | Commonwealth of Massachusetts Transportation Fund, Series 2019A                    | CUSIP: 57604THJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100914.74    | 0.46%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | State of California                                                                | CUSIP: 13063DWA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $184727.63    | 0.85%             | 2050-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                   | State of Washington, Series 2023A                                                  | CUSIP: 93974EXS0<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104823.83    | 0.48%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                         | Commonwealth of Massachusetts, Series 2021C                                        | CUSIP: 57582RQ82<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    200000 | PA      | $137309.06    | 0.63%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                               | County of Miami-Dade Seaport Department, Series 2021, Sub-Series A-2               | CUSIP: 59335KDH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $30452.81     | 0.14%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                         | Texas Water Development Board, Series 2019                                         | CUSIP: 882854V41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $191777.75    | 0.88%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District                                     | San Diego Unified School District, Series 2012E                                    | CUSIP: 797355R55<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $39653.09     | 0.18%             | 2049-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Water System                                              | San Antonio Water System, Series 2025A                                             | CUSIP: 79642GSC7<br>LEI: 549300S7VENCVRZAA322 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108821.19    | 0.50%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                               | Dallas Fort Worth International Airport, Series 2022B                              | CUSIP: 23503CBM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $91289.45     | 0.42%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                               | Municipal Electric Authority of Georgia, Series 2019A                              | CUSIP: 626207Z56<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    100000 | PA      | $98251.46     | 0.45%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                    | New York State Dormitory Authority, Series 2022A                                   | CUSIP: 64990FX33<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    100000 | PA      | $91617.80     | 0.42%             | 2042-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson                                                   | County of Jefferson, Series 2024                                                   | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102442.89    | 0.47%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Port Authority of Houston of Harris County Texas                      | Port Authority of Houston of Harris County Texas, Series 2021                      | CUSIP: 734262FY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101014.50    | 0.46%             | 2051-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp.                                        | Empire State Development Corp., Series 2019A                                       | CUSIP: 6500357Y8<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |     75000 | PA      | $76667.76     | 0.35%             | 2039-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia                                                  | City of Philadelphia Water & Wastewater, Series 2021C                              | CUSIP: 717893W80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $129358.37    | 0.59%             | 2051-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                        | University of Massachusetts Building Authority, Series 2019-1                      | CUSIP: 914437TY4<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103765.60    | 0.48%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                      | City of New York, Series 2023E, Sub-Series E1                                      | CUSIP: 64966QZ78<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     40000 | PA      | $41511.78     | 0.19%             | 2047-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tennessee State School Bond Authority                                 | Tennessee State School Bond Authority, Series 2022A                                | CUSIP: 880558QJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102405.47    | 0.47%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Utility Debt Securitization Authority                                 | Utility Debt Securitization Authority, Series 2022TE-1                             | CUSIP: 91802RFN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107467.69    | 0.49%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured       | New York City Transitional Finance Authority Future Tax Secured, Series 2020A-3    | CUSIP: 64971XLK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $231311.78    | 1.06%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | State of California                                                                | CUSIP: 13063DP69<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $146565.28    | 0.67%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                      | Pennsylvania Turnpike Commission, Series 2024                                      | CUSIP: 709225LJ3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103333.51    | 0.47%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spartanburg County School District No. 7                              | Spartanburg County School District No. 7, Series 2019D                             | CUSIP: 847082MN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35471.01     | 0.16%             | 2048-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salt River Project Agricultural Improvement & Power District          | Salt River Project Agricultural Improvement & Power District, Series 2023A         | CUSIP: 79574CFL2<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102404.64    | 0.47%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Intermountain Power Agency                                            | Intermountain Power Agency, Series 2022A                                           | CUSIP: 45884AB93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106313.27    | 0.49%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Omaha Public Power District                                           | Omaha Public Power District, Series 2024C                                          | CUSIP: 682001NJ7<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |    150000 | PA      | $151971.63    | 0.70%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clovis Unified School District                                        | Clovis Unified School District, Series C                                           | CUSIP: 189342T32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $141382.85    | 0.65%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                     | Chicago Transit Authority Sales Tax Receipts Fund, Series 2024A                    | CUSIP: 16772PEK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20772.43     | 0.10%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alabama Federal Aid Highway Finance Authority                         | Alabama Federal Aid Highway Finance Authority, Series 2025A                        | CUSIP: 010268DT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207694.76    | 0.95%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams & Weld Counties School District No. 27J Brighton/CO             | Adams & Weld Counties School District No. 27J Brighton, Series 2024A               | CUSIP: 005518YW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103290.82    | 0.47%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lakeland FL Department of Electric Utilities                  | City of Lakeland, Series 2021                                                      | CUSIP: 51166FFX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $124476.41    | 0.57%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mount San Antonio Community College District                          | Mount San Antonio Community College District, Series 2024D                         | CUSIP: 623040PZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $137626.26    | 0.63%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEA Water & Sewer System                                              | JEA Water & Sewer System, Series 2024A                                             | CUSIP: 46615SFP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $42129.88     | 0.19%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Rio Hondo Community College District                                  | Rio Hondo Community College District, Series 2022D                                 | CUSIP: 767121ET9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $78689.02     | 0.36%             | 2044-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                      | City of New York, Series 2020D, Sub-Series D1                                      | CUSIP: 64966QKB5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    120000 | PA      | $87384.47     | 0.40%             | 2045-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                        | New Jersey Transportation Trust Fund Authority, Series 2010A                       | CUSIP: 646136XP1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    165000 | PA      | $94877.87     | 0.43%             | 2037-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Board of Regents of the University of Texas System                    | Board of Regents of the University of Texas System, Series 2020A                   | CUSIP: 91514AJZ9<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106391.42    | 0.49%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Onondaga County Trust for Cultural Resources                          | Onondaga County Trust for Cultural Resources, Series 2019                          | CUSIP: 68276FDP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101659.99    | 0.47%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                              | City of Austin Water & Wastewater System, Series 2022                              | CUSIP: 052477PZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $83182.18     | 0.38%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                    | New York State Dormitory Authority, Series 2021A                                   | CUSIP: 64990FZT4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    150000 | PA      | $145725.56    | 0.67%             | 2038-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                         | Texas Water Development Board, Series 2020                                         | CUSIP: 8828544U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $88530.72     | 0.41%             | 2045-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                         | Commonwealth of Massachusetts, Series 2024I                                        | CUSIP: 57582TBW1<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    150000 | PA      | $155275.50    | 0.71%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                        | Lower Colorado River Authority, Series 2020                                        | CUSIP: 54811BVA6<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125952.81    | 0.58%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Colorado                                                     | State of Colorado, Series 2021S                                                    | CUSIP: 19668QNX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $131726.82    | 0.60%             | 2046-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Fort Lauderdale                                               | City of Fort Lauderdale, Series 2023B                                              | CUSIP: 347658ZY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $68853.73     | 0.32%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| University of Nebraska Facilities Corp. (The)                         | University of Nebraska Facilities Corp. (The), Series 2021A                        | CUSIP: 914639LF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $83529.39     | 0.38%             | 2062-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                         | Kentucky State Property & Building Commission, Series A                            | CUSIP: 49151F5K2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $112671.91    | 0.52%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp.                                        | Empire State Development Corp., Series 2023A                                       | CUSIP: 650036JB3<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101985.59    | 0.47%             | 2047-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue                | Triborough Bridge & Tunnel Authority Sales Tax, Series 2024A, Sub-Series A-1       | CUSIP: 896035DB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $143965.01    | 0.66%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                        | University of Massachusetts Building Authority, Series 2022-1                      | CUSIP: 914440UF7<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    175000 | PA      | $154960.80    | 0.71%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                      | City of New York, Series 2022A, Sub-Series A-1                                     | CUSIP: 64966QXW5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    130000 | PA      | $131591.59    | 0.60%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Austin Independent School District                                    | Austin Independent School District, Series 2023                                    | CUSIP: 052430WE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100996.97    | 0.46%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax                                       | District of Columbia Income Tax, Series 2022A                                      | CUSIP: 25477GUW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50949.57     | 0.23%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                        | New Jersey Transportation Trust Fund Authority, Series 2024AA                      | CUSIP: 64613CEX2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    150000 | PA      | $153969.00    | 0.71%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade Seaport Department                               | County of Miami-Dade Seaport Department, Series 2021B-2                            | CUSIP: 59335KDR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $89683.54     | 0.41%             | 2043-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Central Texas Regional Mobility Authority                             | Central Texas Regional Mobility Authority, Series 2021B                            | CUSIP: 155498LX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $87008.29     | 0.40%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Water Authority Sewage Disposal System Revenue            | Great Lakes Water Authority Sewage Disposal System, Series 2023C                   | CUSIP: 39081HFG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $128781.03    | 0.59%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Transit Authority Sales Tax Receipts Fund                     | Chicago Transit Authority Sales Tax Receipts Fund, Series 2022A                    | CUSIP: 16772PDN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $242696.90    | 1.11%             | 2057-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | State of California, Series 2024                                                   | CUSIP: 13063EBL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $37230.19     | 0.17%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                       | New York City Municipal Water Finance Authority, Series 2024BB-1                   | CUSIP: 64972GG32<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    200000 | PA      | $207620.12    | 0.95%             | 2054-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp.                            | Monroe County Industrial Development Corp., Series 2023A                           | CUSIP: 61075TWT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101447.14    | 0.46%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                             | Indiana Finance Authority, Series 2019A                                            | CUSIP: 45506DX34<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    160000 | PA      | $164964.19    | 0.76%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Livermore Valley Joint Unified School District                        | Livermore Valley Joint Unified School District, Series 2021                        | CUSIP: 538310N90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $130596.83    | 0.60%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                      | City of New York, Series 2025, Sub-Series C1                                       | CUSIP: 64966SHC3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103473.99    | 0.47%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                               | Dallas Fort Worth International Airport, Series 2021A                              | CUSIP: 2350367T1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $138146.10    | 0.63%             | 2040-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                    | New York State Dormitory Authority, Series 2021A                                   | CUSIP: 64990FA38<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    130000 | PA      | $113552.22    | 0.52%             | 2047-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Transit System                                | County of Miami-Dade Transit System, Series 2020A                                  | CUSIP: 59334PHR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $102134.85    | 0.47%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Scott County School District Finance Corp.                            | Scott County School District Finance Corp., Series 2022                            | CUSIP: 809545ZY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103600.81    | 0.47%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                  | Triborough Bridge & Tunnel Authority, Series 2021, Sub-Series C-3                  | CUSIP: 89602HBX4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |     50000 | PA      | $29480.40     | 0.13%             | 2051-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                               | Washington Suburban Sanitary Commission, Series 2025                               | CUSIP: 940158JU3<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |    150000 | PA      | $136477.14    | 0.62%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Unified School District                               | Sacramento City Unified School District, Series 2022A                              | CUSIP: 785870E85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $136696.79    | 0.63%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Bernardino Community College District                             | San Bernardino Community College District, Series B                                | CUSIP: 796720QY9<br>LEI: 549300Y4FPTEP3EQZ007 | Long             | DBT              | MUN               | US        |    120000 | PA      | $124585.21    | 0.57%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                     | State of Illinois, Series 2021A                                                    | CUSIP: 452153AW9<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99393.78     | 0.46%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Nevada                                                       | State of Nevada, Series 2023A                                                      | CUSIP: 641462SJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $133558.66    | 0.61%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salinas Union High School District                                    | Salinas Union High School District, Series B                                       | CUSIP: 794896FF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $139013.78    | 0.64%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                    | New York State Dormitory Authority, Series 2024A                                   | CUSIP: 64990AUC7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102448.05    | 0.47%             | 2048-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Energy Northwest                                                      | Energy Northwest, Series 2020A                                                     | CUSIP: 29270C3U7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $146067.43    | 0.67%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                          | New York City Transitional Finance Authority, Series 2025C, Sub-Series C-1         | CUSIP: 64972JME5<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    215000 | PA      | $221259.83    | 1.01%             | 2045-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Department of Transportation                          | State of Oregon Department of Transportation, Series 2019A                         | CUSIP: 68607DUN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $143423.95    | 0.66%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                      | Pennsylvania Turnpike Commission, Series 2025A                                     | CUSIP: 709225NX0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    100000 | PA      | $91605.03     | 0.42%             | 2050-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Idaho Housing & Finance Association                                   | Idaho Housing & Finance Association, Series 2025A                                  | CUSIP: 45130ADQ5<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |    150000 | PA      | $133789.55    | 0.61%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Merrillville Multi School Building Corp.                              | Merrillville Multi School Building Corp., Series 2022                              | CUSIP: 590252RB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103922.89    | 0.48%             | 2042-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                               | Dallas Fort Worth International Airport, Series 2021B                              | CUSIP: 23503CAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $91289.45     | 0.42%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Thruway Authority                                      | New York State Thruway Authority, Series 2021A-1                                   | CUSIP: 650028XM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $75555.77     | 0.35%             | 2051-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Garland Independent School District                                   | Garland Independent School District, Series 2023A                                  | CUSIP: 3661552A6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105321.09    | 0.48%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                              | University of California, Series 2020BE                                            | CUSIP: 91412HHG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $68732.93     | 0.31%             | 2047-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                   | State of Washington, Series 2020B                                                  | CUSIP: 93974EBT2<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    115000 | PA      | $118817.39    | 0.54%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Pennsylvania                                          | Commonwealth of Pennsylvania, Series 2023                                          | CUSIP: 70914P2R2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $143268.78    | 0.66%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cerritos Community College District                                   | Cerritos Community College District, Series 2021D                                  | CUSIP: 156792LP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $67878.46     | 0.31%             | 2044-08-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| State of Connecticut Special Tax Revenue                              | State of Connecticut Special Tax, Series 2024A-2                                   | CUSIP: 207758U84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $108012.65    | 0.49%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cedar Hill Independent School District                                | Cedar Hill Independent School District, Series 2024                                | CUSIP: 1504294C9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $88662.42     | 0.41%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                              | New York Power Authority, Series 2020A                                             | CUSIP: 64989KLD6<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90070.87     | 0.41%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| School District of Broward County/FL                                  | School District of Broward County, Series 2022                                     | CUSIP: 115067MC1<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102332.30    | 0.47%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                   | California State Public Works Board, Series 2021C                                  | CUSIP: 13068XDF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $200411.84    | 0.92%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clark County School District                                          | Clark County School District, Series 2020B                                         | CUSIP: 181059S80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $122661.86    | 0.56%             | 2038-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Texas Water Development Board                                         | Texas Water Development Board, Series 2019                                         | CUSIP: 882854V25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $109872.02    | 0.50%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Higher Educational Facility Commission                           | Ohio Higher Educational Facility Commission, Series A                              | CUSIP: 67756DM52<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |    150000 | PA      | $153382.40    | 0.70%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                       | New York City Municipal Water Finance Authority, Series 2019FF-2                   | CUSIP: 64972GTJ3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    150000 | PA      | $141235.58    | 0.65%             | 2041-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                               | South Carolina Public Service Authority, Series 2024B                              | CUSIP: 8371514T3<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |     70000 | PA      | $71144.54     | 0.33%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Facilities Financing Authority                      | California School Facilities Financing Authority, Series 2009A                     | CUSIP: 13058RAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $41929.67     | 0.19%             | 2049-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver                                               | City & County of Denver, Series 2021A                                              | CUSIP: 24917DCR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $84513.44     | 0.39%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                            | Illinois Finance Authority, Series 2024A                                           | CUSIP: 45204FWL5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103620.42    | 0.47%             | 2045-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                  | Triborough Bridge & Tunnel Authority, Series 2022C                                 | CUSIP: 89602HDQ7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    250000 | PA      | $215692.00    | 0.99%             | 2052-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Forney Independent School District                                    | Forney Independent School District, Series 2022B                                   | CUSIP: 346425HZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105343.40    | 0.48%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grand Parkway Transportation Corp.                                    | Grand Parkway Transportation Corp., Series 2020C                                   | CUSIP: 38611TCB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $88650.73     | 0.41%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle WA Municipal Light & Power Revenue                    | City of Seattle, Series 2023A                                                      | CUSIP: 812643ZD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153175.44    | 0.70%             | 2048-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Francisco                                                 | City of San Francisco, Series 2023AB, Sub-Series B                                 | CUSIP: 79771FDN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $237140.71    | 1.09%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Ector                                                       | County of Ector                                                                    | CUSIP: 279245KV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100720.22    | 0.46%             | 2050-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp.                               | City of Phoenix Civic Improvement Corp., Series 2020A                              | CUSIP: 71883RQB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $114196.74    | 0.52%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                           | California Enterprise Development Authority, Series 2024                           | CUSIP: 13067REJ8<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    100000 | PA      | $85763.30     | 0.39%             | 2054-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 403 Renton                            | King County School District No. 403 Renton, Series 2023                            | CUSIP: 495080WL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $107179.29    | 0.49%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Water & Sewer System Revenue                  | County of Miami-Dade Water & Sewer System, Series 2019B                            | CUSIP: 59334DLW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $141171.72    | 0.65%             | 2049-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                        | New Jersey Transportation Trust Fund Authority, Series 2022A                       | CUSIP: 64613CAB4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    250000 | PA      | $234661.60    | 1.07%             | 2039-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Nashville Airport Authority (The)                        | Metropolitan Nashville Airport Authority (The), Series 2019A                       | CUSIP: 592190NN8<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    135000 | PA      | $135036.68    | 0.62%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Freeport TX                                                      | Port Freeport, Series 2019B                                                        | CUSIP: 73412PDQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $68501.97     | 0.31%             | 2049-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured       | New York City Transitional Finance Authority Future Tax Secured, Series 2021E-1    | CUSIP: 64971XYB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $68515.64     | 0.31%             | 2051-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                                    | San Marcos Unified School District, Series B                                       | CUSIP: 798755DQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $37808.41     | 0.17%             | 2051-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp.                                        | Empire State Development Corp., Series 2021A                                       | CUSIP: 64985TCR0<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |     70000 | PA      | $63007.56     | 0.29%             | 2044-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                               | City of Houston Combined Utility System, Series 2018D                              | CUSIP: 44244CTA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $86186.91     | 0.39%             | 2043-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                         | Commonwealth of Massachusetts, Series 2024I                                        | CUSIP: 57582TBY7<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102731.16    | 0.47%             | 2048-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority                          | New York City Transitional Finance Authority, Series 2025C, Sub-Series C-1         | CUSIP: 64972JMF2<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    250000 | PA      | $256216.63    | 1.17%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Environmental Facilities Corp.                         | New York State Environmental Facilities Corp., Series 2019B                        | CUSIP: 64986DJP1<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    150000 | PA      | $127241.30    | 0.58%             | 2038-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Illinois State Toll Highway Authority                                 | Illinois State Toll Highway Authority, Series 2019A                                | CUSIP: 452252NP0<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |    150000 | PA      | $151000.67    | 0.69%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp.                                        | Empire State Development Corp., Series 2019A                                       | CUSIP: 64985TAK7<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |    120000 | PA      | $122915.53    | 0.56%             | 2040-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                  | Triborough Bridge & Tunnel Authority, Series 2021A                                 | CUSIP: 89602RGP4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120660.79    | 0.55%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lewisville Independent School District                                | Lewisville Independent School District, Series 2024                                | CUSIP: 52882PGA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $154763.24    | 0.71%             | 2039-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Rhode Island                                                 | State of Rhode Island, Series 2022A                                                | CUSIP: 762223NS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $127451.12    | 0.58%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                     | State of Illinois, Series 2023B                                                    | CUSIP: 452153FE4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    160000 | PA      | $168616.10    | 0.77%             | 2038-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tarrant Regional Water District                                       | Tarrant Regional Water District, Series 2025                                       | CUSIP: 876448JB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $225196.55    | 1.03%             | 2047-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                               | Los Angeles Department of Water & Power, Series 2024B                              | CUSIP: 544532LV4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104818.20    | 0.48%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured       | New York City Transitional Finance Authority Future Tax Secured, Series 2021A      | CUSIP: 64971XRZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $173362.54    | 0.79%             | 2037-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public Building Authority                                    | Virginia Public Building Authority, Series 2024A                                   | CUSIP: 928173CX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104682.55    | 0.48%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philadelphia Authority for Industrial Development                     | Philadelphia Authority for Industrial Development, Series 2020A                    | CUSIP: 71780TAD5<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    150000 | PA      | $126548.55    | 0.58%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Minneapolis-St Paul Metropolitan Airports Commission                  | Minneapolis-St Paul Metropolitan Airports Commission, Series 2024A                 | CUSIP: 603827N44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $86193.33     | 0.39%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade                                                  | County of Miami-Dade, Series 2024A                                                 | CUSIP: 59333N5M1<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     65000 | PA      | $66079.79     | 0.30%             | 2051-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elmore County Board of Education                                      | Elmore County Board of Education                                                   | CUSIP: 289770AU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $73594.19     | 0.34%             | 2044-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lansing Board of Water & Light                                        | Lansing Board of Water & Light, Series 2024A                                       | CUSIP: 516391FM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101503.51    | 0.46%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                 | Metropolitan Transportation Authority, Series 2020C-1                              | CUSIP: 59261AG50<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152186.54    | 0.70%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New York Power Authority                                              | New York Power Authority, Series 2022A                                             | CUSIP: 65000XAQ3<br>LEI: I5P1GEYFGGMMDOFX2L30 | Long             | DBT              | MUN               | US        |    115000 | PA      | $114764.22    | 0.53%             | 2038-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Florida Department of Transportation Turnpike System Revenue | State of Florida Department of Transportation Turnpike System, Series 2024B        | CUSIP: 343137SY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $197423.08    | 0.90%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Jefferson                                                   | County of Jefferson, Series 2024                                                   | CUSIP: 472682ZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100973.96    | 0.46%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Virginia Parkways Authority                                      | West Virginia Parkways Authority, Series 2021                                      | CUSIP: 956510BU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104253.59    | 0.48%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | State of California                                                                | CUSIP: 13063EDL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $218078.56    | 1.00%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer