# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0002071691-25-009494
**Filing Date:** 2025-12
**Character Count:** 141927
**Document Hash:** bb445d86601b6225eab329af7cc307c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009494.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009494

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251595437

**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 iBonds Dec 2025 Term Muni Bond ETF (Series ID: S000063114)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000204675 | iShares iBonds Dec 2025 Term Muni Bond ETF | IBMN            |

## 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 iBonds Dec 2025 Term Muni Bond ETF

- **b. EDGAR series identifier (if any):** S000063114

- **c. LEI of Series:** 549300HWKQDCKU6G0739

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $384566906.74

**Total Liabilities:** $58822.78

**Net Assets:** $384508083.96

**Cash Not Reported:** $4.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 453.68000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.59000000 | **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 C000204675 | 0.18%                | 0.21%                | 0.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $312.88                  | $67283.01                                  |
| Month 2  | $5.78                    | $426.57                                    |
| Month 3  | $0.42                    | $19283.80                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2015E-3                                        | CUSIP: 59261AWK9<br>LEI: 5493000TKYODLXADQD60 | Long             | STIV             | MUN               | US        |   2550000 | PA      | $2550000.00   | 0.66%             | 2050-11-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2017C-1                                         | CUSIP: 89602RCC7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    690000 | PA      | $690454.16    | 0.18%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2021A                                                    | CUSIP: 13077DRA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $310000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark                                                     | County of Clark, Series 2016A                                                                | CUSIP: 180848QP1<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    555000 | PA      | $555000.00    | 0.14%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York                                                    | City of New York, Series 2008L-3                                                             | CUSIP: 64966G4N9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | STIV             | MUN               | US        |   5600000 | PA      | $5600000.00   | 1.46%             | 2036-04-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured     | New York City Transitional Finance Authority Future Tax Secured, Series 2018-1               | CUSIP: 64971W7M6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $345000.00    | 0.09%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California Department of Water Resources                   | State of California Department of Water Resources, Series AX                                 | CUSIP: 13067WNQ1<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    330000 | PA      | $330651.98    | 0.09%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Hampshire                                              | State of New Hampshire, Series 2020D                                                         | CUSIP: 6446826W1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $540938.25    | 0.14%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                             | City of Houston Combined Utility System, Series 2018C                                        | CUSIP: 44244CN94<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  15000000 | PA      | $15000000.00  | 3.90%             | 2034-05-15      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                             | Massachusetts School Building Authority, Series 2016B                                        | CUSIP: 576000UX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $145106.81    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2020                                                | CUSIP: 7092248P7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | STIV             | MUN               | US        |   3100000 | PA      | $3100000.00   | 0.81%             | 2039-12-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                | State of Connecticut, Series H                                                               | CUSIP: 20772JZC9<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    145000 | PA      | $145104.34    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Francisco                                               | City of San Francisco, Series A                                                              | CUSIP: 79765RH28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $520000.00    | 0.14%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver Airport System                              | City & County of Denver Airport System, Series 2022C                                         | CUSIP: 249182RW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190130.17    | 0.05%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                      | University of Massachusetts Building Authority, Series 2015-1                                | CUSIP: 914440PZ9<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    105000 | PA      | $105000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook                                                      | County of Cook, Series 2025                                                                  | CUSIP: 213248EY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500341.90    | 0.13%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2015                                                    | CUSIP: 92818PTV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40000.00     | 0.01%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sumner                                                    | County of Sumner, Series 2020                                                                | CUSIP: 866407P78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150257.66    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                 | State of Washington, Series 2004F                                                            | CUSIP: 93974AQ80<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    410000 | PA      | $409110.87    | 0.11%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                             | Dallas Fort Worth International Airport, Series 2020B                                        | CUSIP: 2350365S5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $485000.00    | 0.13%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund            | Metropolitan Transportation Authority Dedicated Tax Fund, Series 2016A                       | CUSIP: 59259N2S1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    605000 | PA      | $605455.38    | 0.16%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Memphis                                                     | City of Memphis Electric System, Series 2017                                                 | CUSIP: 586158PU5<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280474.26    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Water & Sewer Authority                        | District of Columbia Water & Sewer Authority, Series 2025C-2                                 | CUSIP: 254845VW7<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 2.60%             | 2060-10-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                             | City of Houston Combined Utility System, Series 1998A                                        | CUSIP: 4424366A4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $19951.83     | 0.01%             | 2025-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| County of Cook                                                      | County of Cook, Series 2021A                                                                 | CUSIP: 213185LS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $705470.02    | 0.18%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank                                           | Maine Municipal Bond Bank, Series 2018B                                                      | CUSIP: 56045RC80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $185000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2017A                                                    | CUSIP: 13077DAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $365000.00    | 0.09%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cleveland                                                   | City of Cleveland, Series 2015                                                               | CUSIP: 186343L23<br>LEI: 549300IQSLQPCVVMKJ96 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140229.36    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Hampshire                                              | State of New Hampshire, Series 2017B                                                         | CUSIP: 6446823T1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $175304.06    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton                                                  | County of Hamilton, Series 2021A                                                             | CUSIP: 407287MQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125207.76    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                      | Central Puget Sound Regional Transit Authority, Series 2016S-1                               | CUSIP: 155048CX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155000.00    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                             | Port Authority of New York & New Jersey, Series 243                                          | CUSIP: 73358XKR2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125207.16    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                      | Central Puget Sound Regional Transit Authority, Series 2015S-1                               | CUSIP: 15504RGF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $330000.00    | 0.09%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hamilton                                                  | County of Hamilton, Series 2016A                                                             | CUSIP: 407287MA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $235390.59    | 0.06%             | 2025-12-01      | 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        |    166471 | NS      | $166487.26    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vermont Municipal Bond Bank                                         | Vermont Municipal Bond Bank, Series 5                                                        | CUSIP: 924214WA3<br>LEI: 54930081EMY8D1GYM846 | Long             | DBT              | MUN               | US        |    115000 | PA      | $115183.20    | 0.03%             | 2025-12-01      | 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 2020B-1              | CUSIP: 64971XMT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $165000.00    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio State University (The)                                         | Ohio State University (The), Series 2023A1                                                   | CUSIP: 677632P39<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 2.60%             | 2043-06-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority Water Pollution Control Loan Fund  | Ohio Water Development Authority Water Pollution Control Loan Fund, Series 2020B             | CUSIP: 67766WZP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250404.60    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Council                                                | Metropolitan Council, Series 2021B                                                           | CUSIP: 591852Z43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1051611.86   | 0.27%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Memphis                                                     | City of Memphis, Series 2020A                                                                | CUSIP: 586145Y57<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |    305000 | PA      | $305516.61    | 0.08%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Adams                                                     | County of Adams, Series 2015                                                                 | CUSIP: 005596DW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150251.10    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery                                                | County of Montgomery, Series 2019A                                                           | CUSIP: 61334PBB8<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100000.00   | 0.29%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2005E-1                                        | CUSIP: 59261AM38<br>LEI: 5493000TKYODLXADQD60 | Long             | STIV             | MUN               | US        |   7300000 | PA      | $7300000.00   | 1.90%             | 2035-11-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| District of Columbia Water & Sewer Authority                        | District of Columbia Water & Sewer Authority, Series 2024B, Sub-Series B-1                   | CUSIP: 254845UH1<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | STIV             | MUN               | US        |   3700000 | PA      | $3700000.00   | 0.96%             | 2054-10-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                          | Denver City & County School District No. 1, Series 2017A                                     | CUSIP: 24919PJX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275429.80    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alabama Public School & College Authority                           | Alabama Public School & College Authority, Series 2020A                                      | CUSIP: 010609FD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware County Authority                                           | Delaware County Authority, Series 2016                                                       | CUSIP: 246008PA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60100.87     | 0.02%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                      | Central Puget Sound Regional Transit Authority, Series 2015S-1                               | CUSIP: 15504RFV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    855000 | PA      | $855000.00    | 0.22%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2018A                                                    | CUSIP: 13077DEG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $505000.00    | 0.13%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                      | State of Maryland Department of Transportation, Series 2018                                  | CUSIP: 574203NY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130224.85    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Battery Park City Authority                                         | Battery Park City Authority, Series 2019D-1                                                  | CUSIP: 07133AJB9<br>LEI: 549300RF3SFDOWRHVM56 | Long             | STIV             | MUN               | US        |   7000000 | PA      | $7000000.00   | 1.82%             | 2038-11-01      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| University of Delaware                                              | University of Delaware, Series 2024B                                                         | CUSIP: 91425MAY3<br>LEI: KPIOJCFMR70NWLS6O145 | Long             | STIV             | MUN               | US        |   4100000 | PA      | $4100000.00   | 1.07%             | 2034-11-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| State of California Department of Water Resources                   | State of California Department of Water Resources, Series AW                                 | CUSIP: 13067WLT7<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100197.57    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                          | Illinois Finance Authority, Series 2015                                                      | CUSIP: 45203HZ54<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    585000 | PA      | $585932.37    | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pierce County School District No. 402 Franklin Pierce               | Pierce County School District No. 402 Franklin Pierce, Series 2016                           | CUSIP: 720594MN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130218.65    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2012G-2                                        | CUSIP: 59259Y7S2<br>LEI: 5493000TKYODLXADQD60 | Long             | STIV             | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.30%             | 2032-11-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund            | Metropolitan Transportation Authority Dedicated Tax Fund, Series B-1                         | CUSIP: 59259N3Y7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |     70000 | PA      | $70052.69     | 0.02%             | 2025-11-15      | 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 2026, Sub-Series A-2 | CUSIP: 64972JWP9<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   3380000 | PA      | $3380000.00   | 0.88%             | 2055-05-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| University of Minnesota                                             | University of Minnesota, Series 2017B                                                        | CUSIP: 914460QV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1116909.88   | 0.29%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                 | State of California                                                                          | CUSIP: 13063DWH7<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    360000 | PA      | $360000.00    | 0.09%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Charleston                                                | County of Charleston, Series 2015C                                                           | CUSIP: 160069WZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $315000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2023A                                           | CUSIP: 89602RHX6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500329.10    | 0.13%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                             | Port Authority of New York & New Jersey, Series 230                                          | CUSIP: 73358XDX7<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    145000 | PA      | $145129.11    | 0.04%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Charleston                                                | County of Charleston, Series 2017A                                                           | CUSIP: 160069YL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2021B                                               | CUSIP: 709225DE3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    190000 | PA      | $190304.49    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Colorado Springs Utilities System                           | City of Colorado Springs Utilities System, Series 2009C                                      | CUSIP: 196632GW7<br>LEI: 2549003N3PXBHQH2V448 | Long             | STIV             | MUN               | US        |   1725000 | PA      | $1725000.00   | 0.45%             | 2028-11-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| State of California Department of Water Resources                   | State of California Department of Water Resources, Series BD                                 | CUSIP: 13067WSE3<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125246.96    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                  | State of Wisconsin, Series 2017-2                                                            | CUSIP: 97705MJH9<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |    345000 | PA      | $345000.00    | 0.09%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DuPage County Forest Preserve District                              | DuPage County Forest Preserve District, Series 2025                                          | CUSIP: 262651VF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.10%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transit Authority of Harris County Sales & Use Tax     | Metropolitan Transit Authority of Harris County Sales & Use Tax, Series A                    | CUSIP: 41422EFP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155000.00    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California Department of Water Resources                   | State of California Department of Water Resources, Series BA                                 | CUSIP: 13067WQL9<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55108.66     | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County Water District                                        | Orange County Water District, Series 2003A                                                   | CUSIP: 684421CB4<br>LEI: 549300KBQTX6CMJ3U708 | Long             | STIV             | MUN               | US        |  13000000 | PA      | $13000000.00  | 3.38%             | 2042-08-01      | Variable      | 2.78%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2021                                        | CUSIP: 052477ME3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $535308.37    | 0.14%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Virginia Beach                                              | City of Virginia Beach, Series 2020A                                                         | CUSIP: 927747ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $385282.94    | 0.10%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                       | State of Ohio, Series T                                                                      | CUSIP: 677522QZ0<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority                                    | Ohio Water Development Authority, Series 2019A                                               | CUSIP: 677660US9<br>LEI: 549300QMBH1DMY67FZ74 | Long             | DBT              | MUN               | US        |    560000 | PA      | $560906.30    | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Charlotte                                                   | City of Charlotte                                                                            | CUSIP: 161037U61<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50077.95     | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority Water Pollution Control Loan Fund  | Ohio Water Development Authority Water Pollution Control Loan Fund, Series 2015A             | CUSIP: 67766WWX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $676092.42    | 0.18%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Transportation Trust Fund Metropolitan Highway System | Massachusetts Transportation Trust Fund Metropolitan Highway System, Series 2022A-1          | CUSIP: 57563CFL1<br>LEI: 549300CGDCL8XZK3KN03 | Long             | STIV             | MUN               | US        |   5700000 | PA      | $5700000.00   | 1.48%             | 2039-01-01      | Variable      | 3.22%                 | No            |                  2 | On Loan: No      |
| Snohomish County School District No. 4 Lake Stevens                 | Snohomish County School District No. 4 Lake Stevens, Series 2016                             | CUSIP: 833124QF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70116.07     | 0.02%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee State School Bond Authority                               | Tennessee State School Bond Authority, Series B                                              | CUSIP: 880558KA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $560000.00    | 0.15%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                  | State of Wisconsin, Series 2016-2                                                            | CUSIP: 97705MEB7<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |    370000 | PA      | $370000.00    | 0.10%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank                                           | Maine Municipal Bond Bank, Series A                                                          | CUSIP: 56045RQN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140000.00    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago Waterworks                                          | City of Chicago Waterworks, Series 2016A-1                                                   | CUSIP: 167736G27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                           | New Jersey Economic Development Authority, Series B                                          | CUSIP: 64577BE42<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    975000 | PA      | $975000.00    | 0.25%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery                                                | County of Montgomery, Series 2017A                                                           | CUSIP: 6133408A9<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75000.00     | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank                                           | Maine Municipal Bond Bank, Series D                                                          | CUSIP: 56045RZM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2005B-3                                         | CUSIP: 89602RKE4<br>LEI: 54930020ZN4LQF7K3456 | Long             | STIV             | MUN               | US        |   1675000 | PA      | $1675000.00   | 0.44%             | 2035-01-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| State of California                                                 | State of California                                                                          | CUSIP: 13063DVP0<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    315000 | PA      | $315000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund            | Metropolitan Transportation Authority Dedicated Tax Fund, Series 2008A-2A                    | CUSIP: 59260XBE7<br>LEI: 5493000TKYODLXADQD60 | Long             | STIV             | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.52%             | 2026-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2016A                                                   | CUSIP: 92818P7K3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $195000.00    | 0.05%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series A-1                                            | CUSIP: 59261ALM7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    185000 | PA      | $185123.47    | 0.05%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spokane County School District No. 356 Central Valley               | Spokane County School District No. 356 Central Valley, Series 2018                           | CUSIP: 848797QA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $90152.09     | 0.02%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin                                                  | County of Hennepin, Series 2020B                                                             | CUSIP: 425507KF6<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001590.70   | 0.26%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark                                                     | County of Clark, Series 2016B                                                                | CUSIP: 180848RW5<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    565000 | PA      | $565000.00    | 0.15%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cincinnati                                                  | City of Cincinnati Water System, Series B                                                    | CUSIP: 172311LB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100171.77    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2015A                                                   | CUSIP: 92818PTW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95000.00     | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Iredell                                                   | County of Iredell, Series 2016                                                               | CUSIP: 46267VAV4<br>LEI: 549300NE65QUOJ0ETV20 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25042.35     | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Carolina Public Service Authority                             | South Carolina Public Service Authority, Series 2025B                                        | CUSIP: 8371515W5<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2018035.60   | 0.52%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Colorado Springs                                            | City of Colorado Springs Utilities System, Series 2015A                                      | CUSIP: 196632WD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $445303.18    | 0.12%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 415 Kent                            | King County School District No. 415 Kent, Series 2018                                        | CUSIP: 495278V75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225360.59    | 0.06%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Forsyth                                                   | County of Forsyth, Series 2015                                                               | CUSIP: 346623DW8<br>LEI: 549300QZDXNB40E8SI64 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200343.54    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark                                                     | County of Clark, Series 2018B                                                                | CUSIP: 180848XR9<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280470.93    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                      | Wayne County Airport Authority, Series 2018C                                                 | CUSIP: 944514ZR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100155.41    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2016                                        | CUSIP: 052477XS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40026.57     | 0.01%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series A-2                                                 | CUSIP: 709224ZF9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    560000 | PA      | $560848.57    | 0.15%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                       | Commonwealth of Massachusetts, Series E                                                      | CUSIP: 57582PBC3<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Colorado Springs                                            | City of Colorado Springs Utilities System, Series 2018A-1                                    | CUSIP: 196632H97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $520381.26    | 0.14%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                     | New York City Municipal Water Finance Authority, Series 2007, Sub-Series CC-1                | CUSIP: 64972FHH2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.30%             | 2038-06-15      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2020A                                               | CUSIP: 709225AA4<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | STIV             | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.30%             | 2050-12-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured     | New York City Transitional Finance Authority Future Tax Secured, Series 2016                 | CUSIP: 64971WUS7<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.30%             | 2041-08-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2024                                        | CUSIP: 052477XW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100057.64    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Wisconsin                                                  | State of Wisconsin, Series 2016-2                                                            | CUSIP: 97705MEL5<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2200000.00   | 0.57%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                                | State of Mississippi, Series 2015F                                                           | CUSIP: 605581GZ4<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.08%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Area Rapid Transit                                           | Dallas Area Rapid Transit, Series 2020A                                                      | CUSIP: 235241UF1<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |    205000 | PA      | $205330.15    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook                                                      | County of Cook, Series 2021B                                                                 | CUSIP: 213185MC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100033.83    | 0.03%             | 2025-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ohio State University (The)                                         | Ohio State University (The), Series 2017                                                     | CUSIP: 677632J28<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280464.04    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Transportation Trust Fund Metropolitan Highway System | Massachusetts Transportation Trust Fund Metropolitan Highway System, Series 2010A-1          | CUSIP: 57563CBF8<br>LEI: 549300CGDCL8XZK3KN03 | Long             | STIV             | MUN               | US        |   4470000 | PA      | $4470000.00   | 1.16%             | 2037-01-01      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| Ohio Water Development Authority Water Pollution Control Loan Fund  | Ohio Water Development Authority Water Pollution Control Loan Fund, Series 2015B             | CUSIP: 67766WXA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $270436.97    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transit Authority of Harris County Sales & Use Tax     | Metropolitan Transit Authority of Harris County Sales & Use Tax, Series 2015B                | CUSIP: 41422EFG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $435000.00    | 0.11%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                             | City of Houston Combined Utility System, Series 2002C                                        | CUSIP: 44244CZP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135083.79    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2020C                                       | CUSIP: 052477VV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45029.89     | 0.01%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Arkansas                                              | University of Arkansas, Series 2023                                                          | CUSIP: 914073FQ9<br>LEI: 549300FFADBQ3NEI2D96 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                      | Central Puget Sound Regional Transit Authority, Series 2015S-1                               | CUSIP: 15504RGE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1525000.00   | 0.40%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern California Sanitation Agencies Financing Authority         | Northern California Sanitation Agencies Financing Authority, Series 2021                     | CUSIP: 786134WN2<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200391.96    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Michigan                                              | University of Michigan, Series 2012-A                                                        | CUSIP: 914455LP3<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  15000000 | PA      | $15000000.00  | 3.90%             | 2036-04-01      | Variable      | 3.02%                 | No            |                  2 | On Loan: No      |
| Clark County School District No. 122 Ridgefield                     | Clark County School District No. 122 Ridgefield, Series 2017                                 | CUSIP: 181342GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55092.50     | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                 | California State Public Works Board, Series 2018C                                            | CUSIP: 13068L2M6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $405000.00    | 0.11%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series A-2                                            | CUSIP: 59261ADJ3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150100.11    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta                                                     | City of Atlanta, Series 2022A1                                                               | CUSIP: 047772H43<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250431.40    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Financing Authority                                 | Sacramento City Financing Authority, Series E                                                | CUSIP: 785849VA5<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25052.01     | 0.01%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of California Department of Water Resources                   | State of California Department of Water Resources, Series AZ                                 | CUSIP: 13067WPU0<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    525000 | PA      | $526037.24    | 0.14%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2016                                        | CUSIP: 052477D29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15009.96     | 0.00%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monmouth County Improvement Authority (The)                         | Monmouth County Improvement Authority (The), Series 2022B                                    | CUSIP: 60956PB35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105178.69    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transit Authority of Harris County Sales & Use Tax     | Metropolitan Transit Authority of Harris County Sales & Use Tax                              | CUSIP: 41422EHW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                   | State of Illinois, Series 2017D                                                              | CUSIP: 452152Q46<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2360000 | PA      | $2360000.00   | 0.61%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                 | State of California                                                                          | CUSIP: 13063DB56<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    115000 | PA      | $115207.12    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                          | Denver City & County School District No. 1, Series 2018A                                     | CUSIP: 249174WE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $636311.53    | 0.17%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Clark County School District No. 114 Evergreen                      | Clark County School District No. 114 Evergreen, Series 2018                                  | CUSIP: 181234L86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $335539.52    | 0.09%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                          | Michigan Finance Authority, Series 2017A-MI                                                  | CUSIP: 59447TQD8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |    255000 | PA      | $255408.46    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                | Colorado Health Facilities Authority, Series 2022A                                           | CUSIP: 19648FVZ4<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2019A                                               | CUSIP: 709224Q93<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    215000 | PA      | $215325.79    | 0.06%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Tacoma                                                      | Port of Tacoma, Series 2008B                                                                 | CUSIP: 735439NE7<br>LEI: 549300MLYO8L64QKXV81 | Long             | STIV             | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.78%             | 2044-12-01      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| University of Connecticut                                           | University of Connecticut, Series 2018A                                                      | CUSIP: 914225GR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100070.22    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2021B                                               | CUSIP: 709225CH7<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    800000 | PA      | $801212.24    | 0.21%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2016A                                                    | CUSIP: 13077C3G7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125000.00    | 0.03%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of West Virginia                                              | State of West Virginia, Series 2018B                                                         | CUSIP: 956553ZW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150253.49    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee State School Bond Authority                               | Tennessee State School Bond Authority, Series 2019A                                          | CUSIP: 880558LP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375000.00    | 0.10%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2005B-2A                                        | CUSIP: 89602RGK5<br>LEI: 54930020ZN4LQF7K3456 | Long             | STIV             | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.30%             | 2032-01-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| City of New York                                                    | City of New York, Series 2015F-5                                                             | CUSIP: 64966LU41<br>LEI: 549300ABYZD2SFD5JB29 | Long             | STIV             | MUN               | US        |   5400000 | PA      | $5400000.00   | 1.40%             | 2044-06-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| County of Will                                                      | County of Will, Series 2015A                                                                 | CUSIP: 968657GV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55018.23     | 0.01%             | 2025-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia                                                | City of Philadelphia Water & Wastewater, Series 2017B                                        | CUSIP: 717893E31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350000.00    | 0.09%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                 | California State Public Works Board, Series 2019C                                            | CUSIP: 13068L4G7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville County School District                                   | Greenville County School District, Series 2023                                               | CUSIP: 396066JD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500854.85    | 0.13%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2018B                                          | CUSIP: 59261AWW3<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100066.74    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cincinnati                                                  | City of Cincinnati, Series 2016A                                                             | CUSIP: 172217XH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150142.58    | 0.04%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Norfolk                                                     | City of Norfolk, Series 2015B                                                                | CUSIP: 656009KT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Minneapolis                                                 | City of Minneapolis, Series 2019                                                             | CUSIP: 60375BGE0<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200172.72    | 0.05%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2017C-1                                        | CUSIP: 59261APR2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    470000 | PA      | $470313.68    | 0.12%             | 2025-11-15      | 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 2023B-1              | CUSIP: 64971XZ68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60000.00     | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Maryland Department of Transportation                      | State of Maryland Department of Transportation, Series 2021B                                 | CUSIP: 574204S87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $350605.36    | 0.09%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2020A                                                    | CUSIP: 13077DFY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax                                     | District of Columbia Income Tax, Series 2022C                                                | CUSIP: 25477GVF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $280463.15    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2016                                        | CUSIP: 052477D37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55031.70     | 0.01%             | 2025-11-15      | 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 2025, Sub-Series H-3 | CUSIP: 64972JSG4<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.26%             | 2054-11-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2019A                                                    | CUSIP: 13077DGM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95000.00     | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                       | State of Ohio, Series 2016C                                                                  | CUSIP: 67759HHV9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    145000 | PA      | $145245.04    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monmouth County Improvement Authority (The)                         | Monmouth County Improvement Authority (The), Series 2019B                                    | CUSIP: 60956PVP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $270459.49    | 0.07%             | 2025-12-01      | 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 2022A-1              | CUSIP: 64971XB31<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225000.00    | 0.06%             | 2025-11-01      | 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 2023E-1              | CUSIP: 64971X4M7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $580000.00    | 0.15%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund            | Metropolitan Transportation Authority Dedicated Tax Fund, Series 2017A                       | CUSIP: 59259N6A6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140105.38    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Huntsville                                                  | City of Huntsville, Series 2017E                                                             | CUSIP: 447025E45<br>LEI: 549300FQXH802SS93031 | Long             | DBT              | MUN               | US        |    115000 | PA      | $115000.00    | 0.03%             | 2025-11-01      | 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 2022D, Sub-Series D1 | CUSIP: 64971XM96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1135000.00   | 0.30%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Adams & Arapahoe Counties Joint School District 28J Aurora          | Adams & Arapahoe Counties Joint School District 28J Aurora, Series 2025                      | CUSIP: 0054824F8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002129.10   | 0.26%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2016A                                           | CUSIP: 89602N5C4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    310000 | PA      | $310204.04    | 0.08%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Cincinnati                                                  | City of Cincinnati Water System, Series B                                                    | CUSIP: 172311LG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001810.80   | 0.52%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2015D                                                   | CUSIP: 92818MY95<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $85000.00     | 0.02%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arizona Board of Regents                                            | Arizona Board of Regents, Series 2025C                                                       | CUSIP: 04048RXJ0<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  11700000 | PA      | $11700000.00  | 3.04%             | 2055-07-01      | Variable      | 3.18%                 | No            |                  2 | On Loan: No      |
| Massachusetts Water Resources Authority                             | Massachusetts Water Resources Authority, Series 2025E                                        | CUSIP: 576051R65<br>LEI: 549300GBS2G3YGHOYO19 | Long             | STIV             | MUN               | US        |   7500000 | PA      | $7500000.00   | 1.95%             | 2031-08-01      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Long Island Power Authority                                         | Long Island Power Authority, Series 2023D                                                    | CUSIP: 542691HU7<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 2.60%             | 2033-05-01      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| Kitsap County School District No. 401 Central Kitsap                | Kitsap County School District No. 401 Central Kitsap, Series 2016                            | CUSIP: 498098QX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190319.56    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Chesterfield                                              | County of Chesterfield, Series 2016                                                          | CUSIP: 166409GE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Charleston                                                | County of Charleston, Series 2015D                                                           | CUSIP: 160069XF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65000.00     | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of King                                                      | County of King, Series 2024                                                                  | CUSIP: 495290ET1<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  10000000 | PA      | $10000000.00  | 2.60%             | 2042-01-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| County of Snohomish                                                 | County of Snohomish, Series 2022                                                             | CUSIP: 833086DW8<br>LEI: 254900GIDXGQFYCOA089 | Long             | DBT              | MUN               | US        |    445000 | PA      | $445766.11    | 0.12%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Nevada Highway Improvement                                 | State of Nevada Highway Improvement, Series 2016                                             | CUSIP: 641480HX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $956659.31    | 0.25%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                 | California State Public Works Board, Series 2016C                                            | CUSIP: 13068LYS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135000.00    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Missouri Highway & Transportation Commission                        | Missouri Highway & Transportation Commission, Series 2019B                                   | CUSIP: 60636WSP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Boston                                                      | City of Boston, Series 2022A                                                                 | CUSIP: 100853F62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Hennepin                                                  | County of Hennepin, Series 2020A                                                             | CUSIP: 425507JK7<br>LEI: 254900YDNULMQREFAU43 | Long             | DBT              | MUN               | US        |     90000 | PA      | $90143.16     | 0.02%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                             | Massachusetts School Building Authority, Series 2016A                                        | CUSIP: 576000UA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2476686.22   | 0.64%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Area Rapid Transit                                           | Dallas Area Rapid Transit, Series 2016A                                                      | CUSIP: 235241RN8<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |    570000 | PA      | $570966.83    | 0.15%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Washington                                            | University of Washington, Series 2015C                                                       | CUSIP: 91523NPK6<br>LEI: T8YS5W0N70BYCTHPA429 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180302.60    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Wilmington                                                  | City of Wilmington, Series 2017                                                              | CUSIP: 971567QV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55087.92     | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2019-2                                              | CUSIP: 709224M30<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | STIV             | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.78%             | 2038-12-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| Sacramento City Financing Authority                                 | Sacramento City Financing Authority, Series 2015A                                            | CUSIP: 785849WG1<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200331.30    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series A-1                                                 | CUSIP: 709224YP8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    520000 | PA      | $520787.96    | 0.14%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago                                                     | City of Chicago Waterworks, Series 2023B                                                     | CUSIP: 167736V61<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50000.00     | 0.01%             | 2025-11-01      | 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 C                    | CUSIP: 64971WYB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $620000.00    | 0.16%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 410 Snoqualmie Valley               | King County School District No. 410 Snoqualmie Valley, Series 2017                           | CUSIP: 495206QA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $395680.03    | 0.10%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                 | State of California, Series 2017                                                             | CUSIP: 13063DBM9<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    725000 | PA      | $725000.00    | 0.19%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Spokane                                                   | County of Spokane, Series 2019B                                                              | CUSIP: 8486443M0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200336.38    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Karegnondi Water Authority                                          | Karegnondi Water Authority, Series 2024                                                      | CUSIP: 48563UCB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $130000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle                                                     | City of Seattle, Series 2023B                                                                | CUSIP: 812643ZK3<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  25700000 | PA      | $25700000.00  | 6.68%             | 2046-11-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Vancouver                                                   | City of Vancouver, Series 2015B                                                              | CUSIP: 921594Q59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210336.55    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark                                                     | County of Clark, Series 2020B                                                                | CUSIP: 180848R47<br>LEI: 549300LDD8NZB2EOVG83 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35000.00     | 0.01%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2015A                                                   | CUSIP: 92818PTZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $215000.00    | 0.06%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia Housing & Finance Authority                                 | Georgia Housing & Finance Authority, Series 2022A                                            | CUSIP: 37353PHS1<br>LEI: 549300I628IMF9PWV724 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100163.99    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Colorado Springs                                            | City of Colorado Springs Utilities System, Series 2020B                                      | CUSIP: 196632U92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100073.32    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2019B                                                   | CUSIP: 92818NCU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Colorado Springs Utilities System                           | City of Colorado Springs Utilities System, Series 2005A                                      | CUSIP: 1966307T8<br>LEI: 2549003N3PXBHQH2V448 | Long             | STIV             | MUN               | US        |   6000000 | PA      | $6000000.00   | 1.56%             | 2035-11-01      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2016A-1                                             | CUSIP: 709224PT0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    440000 | PA      | $440666.73    | 0.11%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                | State of Connecticut, Series F                                                               | CUSIP: 20772JQ47<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    410000 | PA      | $410295.04    | 0.11%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire State Turnpike System                                 | New Hampshire State Turnpike System, Series 2019                                             | CUSIP: 644693NA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $390000.00    | 0.10%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Loudoun                                                   | County of Loudoun, Series 2019A                                                              | CUSIP: 54589THJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001717.70   | 0.26%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern California Sanitation Agencies Financing Authority         | Northern California Sanitation Agencies Financing Authority, Series 2020A                    | CUSIP: 786134VS2<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140274.37    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee State School Bond Authority                               | Tennessee State School Bond Authority, Series 2015B                                          | CUSIP: 880558HJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $190000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Department of Transportation                        | State of Oregon Department of Transportation, Series 2017C                                   | CUSIP: 68607DTP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115084.71    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2016B                                          | CUSIP: 59261AEV5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100033.89    | 0.03%             | 2025-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas, Inc.                                       | Main Street Natural Gas, Inc., Series 2024C                                                  | CUSIP: 56035DHL9<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |     80000 | PA      | $80091.33     | 0.02%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Income Tax                                     | District of Columbia Income Tax, Series 2014A                                                | CUSIP: 25477GNL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $280463.15    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank                                           | Maine Municipal Bond Bank, Series C                                                          | CUSIP: 56045RYR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225000.00    | 0.06%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Board of Governors of Colorado State University System              | Board of Governors of Colorado State University System, Series 2025B                         | CUSIP: 196707Y49<br>LEI: 549300MAE3RAIIEIQV71 | Long             | STIV             | MUN               | US        |   6500000 | PA      | $6500000.00   | 1.69%             | 2055-03-01      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                       | Commonwealth of Massachusetts, Series 2020E                                                  | CUSIP: 57582RJ23<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    230000 | PA      | $230000.00    | 0.06%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Puget Sound Regional Transit Authority                      | Central Puget Sound Regional Transit Authority, Series 2015S-1                               | CUSIP: 15504RFZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $385000.00    | 0.10%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Department of Transportation                        | State of Oregon Department of Transportation, Series 2022A                                   | CUSIP: 68607DVP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100073.66    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2017B                                          | CUSIP: 59261ANG8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    650000 | PA      | $650433.81    | 0.17%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Montgomery                                                | County of Montgomery, Series 2017D                                                           | CUSIP: 6133406Q6<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |    620000 | PA      | $620000.00    | 0.16%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                             | Dallas Fort Worth International Airport, Series 2021B                                        | CUSIP: 23503CAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    480000 | PA      | $480000.00    | 0.12%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boston Water & Sewer Commission                                     | Boston Water & Sewer Commission, Series 2015A                                                | CUSIP: 101029TF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375000.00    | 0.10%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund            | Metropolitan Transportation Authority Dedicated Tax Fund, Series 2024A                       | CUSIP: 59260XBG2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300225.81    | 0.08%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pierce County School District No. 10 Tacoma                         | Pierce County School District No. 10 Tacoma, Series 2015                                     | CUSIP: 720424YV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275451.61    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                           | New Jersey Economic Development Authority, Series 2022A                                      | CUSIP: 64577XDK9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1170000.00   | 0.30%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2018B                                           | CUSIP: 89602REG6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    215000 | PA      | $215141.51    | 0.06%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wisconsin Health & Educational Facilities Authority                 | Wisconsin Health & Educational Facilities Authority, Series 2016A                            | CUSIP: 97712DQE9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    425000 | PA      | $425283.94    | 0.11%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                          | Denver City & County School District No. 1, Series 2025B                                     | CUSIP: 249174ZF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500840.95    | 0.13%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vermont Municipal Bond Bank                                         | Vermont Municipal Bond Bank, Series 2024                                                     | CUSIP: 924215AY2<br>LEI: 54930081EMY8D1GYM846 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001697.80   | 0.26%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts School Building Authority                             | Massachusetts School Building Authority, Series 2016A                                        | CUSIP: 576000UB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250170.33    | 0.07%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Francisco                                               | City of San Francisco, Series 2025, Sub-Series A                                             | CUSIP: 79771FFR3<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.26%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago          | Metropolitan Water Reclamation District of Greater Chicago, Series 2021C                     | CUSIP: 167560VN8<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175272.11    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Michigan Trunk Line                                        | State of Michigan Trunk Line, Series 2021A                                                   | CUSIP: 5946952L1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $140093.58    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Oregon Department of Transportation                        | State of Oregon Department of Transportation, Series A                                       | CUSIP: 68607DSV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $720530.35    | 0.19%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Georgia                                                    | State of Georgia, Series 2016E                                                               | CUSIP: 3733846U5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1137044.14   | 0.30%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2017C                                                   | CUSIP: 92818MRM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30000.00     | 0.01%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series B                                               | CUSIP: 89602N7U2<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    320000 | PA      | $320210.62    | 0.08%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dallas Area Rapid Transit                                           | Dallas Area Rapid Transit, Series 2019                                                       | CUSIP: 235241SY3<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |   2005000 | PA      | $2008229.05   | 0.52%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                                | Triborough Bridge & Tunnel Authority, Series 2025A                                           | CUSIP: 896032AA7<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    175000 | PA      | $175281.84    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                      | University of Massachusetts Building Authority, Series 2017-3                                | CUSIP: 914437SU3<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    305000 | PA      | $305000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Battery Park City Authority                                         | Battery Park City Authority, Series 2019D-2                                                  | CUSIP: 07133AJC7<br>LEI: 549300RF3SFDOWRHVM56 | Long             | STIV             | MUN               | US        |   6750000 | PA      | $6750000.00   | 1.76%             | 2038-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                     | New York City Municipal Water Finance Authority, Series 2015BB-4                             | CUSIP: 64972GRG1<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |   8500000 | PA      | $8500000.00   | 2.21%             | 2050-06-15      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Ohio State University (The)                                         | Ohio State University (The), Series 2023D2                                                   | CUSIP: 677632R78<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | STIV             | MUN               | US        |  11160000 | PA      | $11160000.00  | 2.90%             | 2044-12-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| County of Will                                                      | County of Will, Series 2016                                                                  | CUSIP: 968657HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001362.60   | 0.52%             | 2041-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port of Tacoma                                                      | Port of Tacoma, Series A                                                                     | CUSIP: 735439NL1<br>LEI: 549300MLYO8L64QKXV81 | Long             | DBT              | MUN               | US        |    115000 | PA      | $115096.13    | 0.03%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series A-2                                            | CUSIP: 59261AMG9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    135000 | PA      | $135090.10    | 0.04%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Snohomish County School District No. 201 Snohomish                  | Snohomish County School District No. 201 Snohomish, Series 2016                              | CUSIP: 833221WF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $220352.57    | 0.06%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                         | California State University, Series 2015A                                                    | CUSIP: 13077CY57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.26%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Massachusetts                                       | Commonwealth of Massachusetts, Series 2021B                                                  | CUSIP: 57582RT89<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |    295000 | PA      | $295000.00    | 0.08%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Seattle                                                     | City of Seattle, Series 2018A                                                                | CUSIP: 812627ES2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375636.68    | 0.10%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Austin Water & Wastewater System                            | City of Austin Water & Wastewater System, Series 2020C                                       | CUSIP: 052477VX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95060.26     | 0.02%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Louisiana                                                  | State of Louisiana, Series 2024C                                                             | CUSIP: 546417JF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500801.30    | 0.13%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                             | City of Houston Combined Utility System, Series 2015D                                        | CUSIP: 44244CCF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $385238.97    | 0.10%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2023B                                               | CUSIP: 709225JD9<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | STIV             | MUN               | US        |   6000000 | PA      | $6000000.00   | 1.56%             | 2043-12-01      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| Alaska Housing Finance Corp.                                        | Alaska Housing Finance Corp., Series 2017C                                                   | CUSIP: 011839PD3<br>LEI: 549300HJ8NOJNYW6ER36 | Long             | DBT              | MUN               | US        |    110000 | PA      | $110167.29    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Mecklenburg                                               | County of Mecklenburg, Series 2011-C                                                         | CUSIP: 584002RA9<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25048.13     | 0.01%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                             | Port Authority of New York & New Jersey, Series 205                                          | CUSIP: 73358WM35<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    490000 | PA      | $490365.10    | 0.13%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2016A                                                   | CUSIP: 92818P7E7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5000.00      | 0.00%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured     | New York City Transitional Finance Authority Future Tax Secured, Series C                    | CUSIP: 64971WU24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $780000.00    | 0.20%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Suburban Sanitary Commission                             | Washington Suburban Sanitary Commission, Series 2020                                         | CUSIP: 9401575D8<br>LEI: 549300EZUWNTQF827C24 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250429.43    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia                                                | District of Columbia, Series 2020                                                            | CUSIP: 25483VWM2<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    285000 | PA      | $285466.92    | 0.07%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City & County of Denver Airport System                              | City & County of Denver Airport System, Series 2016A                                         | CUSIP: 249182JX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375256.91    | 0.10%             | 2025-11-15      | 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 2019C-4              | CUSIP: 64971XKS6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   5000000 | PA      | $5000000.00   | 1.30%             | 2044-11-01      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                             | City of Houston Combined Utility System, Series 2012B                                        | CUSIP: 44244CRZ2<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   3325000 | PA      | $3325000.00   | 0.86%             | 2034-05-15      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2015F                                          | CUSIP: 59261AAJ6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    230000 | PA      | $230153.50    | 0.06%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 405 Bellevue                        | King County School District No. 405 Bellevue, Series 2016                                    | CUSIP: 495098YS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155266.85    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Imperial Irrigation District Electric System                        | Imperial Irrigation District Electric System, Series 2019                                    | CUSIP: 452650KU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Turnpike Commission                                    | Pennsylvania Turnpike Commission, Series 2017A                                               | CUSIP: 709224UP2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    150000 | PA      | $150240.39    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denver City & County School District No. 1                          | Denver City & County School District No. 1, Series 2016                                      | CUSIP: 249174UH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $415697.99    | 0.11%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northampton County General Purpose Authority                        | Northampton County General Purpose Authority, Series 2024A                                   | CUSIP: 663507CY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200142.48    | 0.05%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                               | Metropolitan Transportation Authority, Series 2016B                                          | CUSIP: 59261AFL6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100066.74    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of King                                                      | County of King, Series 2015E                                                                 | CUSIP: 49474FNY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225387.36    | 0.06%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of West Virginia                                              | State of West Virginia, Series 2015A                                                         | CUSIP: 956553WP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50000.00     | 0.01%             | 2025-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Houston Combined Utility System                             | City of Houston Combined Utility System, Series 2016B                                        | CUSIP: 44244CGH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375232.76    | 0.10%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transit Authority of Harris County Sales & Use Tax     | Metropolitan Transit Authority of Harris County Sales & Use Tax, Series 2017A                | CUSIP: 41422EGZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120000.00    | 0.03%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rhode Island Health & Educational Building Corp.                    | Rhode Island Health & Educational Building Corp., Series 2005A                               | CUSIP: 762243MY6<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |  15000000 | PA      | $15000000.00  | 3.90%             | 2035-05-01      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                        | Virginia Resources Authority, Series 2015                                                    | CUSIP: 92818PTY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75000.00     | 0.02%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                           | Indiana Finance Authority, Series 2016C                                                      | CUSIP: 45470RCT1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    920000 | PA      | $921510.82    | 0.24%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Tax Fund            | Metropolitan Transportation Authority Dedicated Tax Fund, Series B-2                         | CUSIP: 59259N6Y4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    265000 | PA      | $265199.47    | 0.07%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago          | Metropolitan Water Reclamation District of Greater Chicago, Series D                         | CUSIP: 167560TQ4<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |    125000 | PA      | $125194.36    | 0.03%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| King County School District No. 405 Bellevue                        | King County School District No. 405 Bellevue, Series 2019                                    | CUSIP: 495098A62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160275.46    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlanta Water & Wastewater                                  | City of Atlanta Water & Wastewater, Series 2004                                              | CUSIP: 047870EX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    205000 | PA      | $205000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                     | New York City Municipal Water Finance Authority, Series 2013AA-2                             | CUSIP: 64972GAS3<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | STIV             | MUN               | US        |   3150000 | PA      | $3150000.00   | 0.82%             | 2046-06-15      | Variable      | 3.15%                 | No            |                  2 | On Loan: No      |
| City of Yonkers                                                     | City of Yonkers, Series 2022F                                                                | CUSIP: 986082U60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115084.51    | 0.03%             | 2025-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Loudoun                                                   | County of Loudoun, Series 2024A                                                              | CUSIP: 54589TNQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155266.24    | 0.04%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                                      | Wayne County Airport Authority, Series A                                                     | CUSIP: 944514UV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25038.85     | 0.01%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Connecticut                                           | University of Connecticut, Series 2019A                                                      | CUSIP: 914233V99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $195000.00    | 0.05%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Maine Municipal Bond Bank                                           | Maine Municipal Bond Bank, Series 2022A                                                      | CUSIP: 56045R3P2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225000.00    | 0.06%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Michigan                                                   | State of Michigan, Series 2016B                                                              | CUSIP: 594612CR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210000.00    | 0.05%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                                | State of Mississippi, Series 2016B                                                           | CUSIP: 605581HN0<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |    450000 | PA      | $450774.72    | 0.12%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property & Building Commission                       | Kentucky State Property & Building Commission, Series B                                      | CUSIP: 49151FNJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $555000.00    | 0.14%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ohio State University (The)                                         | Ohio State University (The), Series 2020A                                                    | CUSIP: 677632K26<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |    190000 | PA      | $190314.89    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer