# EDGAR Filing Document

**Accession Number:** 0000751656
**File Stem:** 0002071691-25-007824
**Filing Date:** 2025-11
**Character Count:** 62192
**Document Hash:** cfdc5dd3ee279d83d9dded73a877b999
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007824.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007824

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS MUNICIPAL SERIES TRUST
- **CENTRAL INDEX KEY:** 0000751656

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04096
- **FILM NUMBER:** 251530030

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE MUNICIPAL BOND TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS MANAGED MULTI STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19890410

## Series and Classes Contracts Data

### MFS Mississippi Municipal Bond Fund (Series ID: S000002535)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006989 | A            | MISSX           |
| C000006990 | B            | MBMSX           |
| C000169771 | I            | MMSTX           |
| C000194252 | R6           | MPMSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Municipal Series Trust

- **b. Investment Company Act file number:** 811-04096

- **c. CIK number of Registrant:** 0000751656

- **d. LEI of Registrant:** 5493001Q9KE7H84Z5340

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS Mississippi Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000002535

- **c. LEI of Series:** 4GAB1OTSRRZ89GG72J95

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $63438058.97

**Total Liabilities:** $252935.45

**Net Assets:** $63185123.52

**Cash Not Reported:** $0.38

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -75.91982060 | **1-Year:** -2008.91454610 | **5-Year:** -8543.38330130 | **10-Year:** -24078.76144400 | **30-Year:** -9489.45798450

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

- **3-Month:** -6.58823930 | **1-Year:** -251.60776910 | **5-Year:** -922.20521820 | **10-Year:** -1448.03076190 | **30-Year:** -545.28868490

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169771 | -0.98%               | 1.01%                | 3.35%                |
| Class ID C000006989 | -0.99%               | 1.00%                | 3.34%                |
| Class ID C000006990 | -1.04%               | 0.95%                | 3.28%                |
| Class ID C000194252 | -0.98%               | 1.02%                | 3.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-39807.43               | $-751462.40                                |
| Month 2  | $4514.68                 | $406392.67                                 |
| Month 3  | $-17080.80               | $1882187.51                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2018                                 | CUSIP: 60534WZA9<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    460000 | PA      | $476570.07    | 0.75%             | 2038-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mississippi Business Finance Corp.                           | Mississippi Business Finance Corp., Series 2002                           | CUSIP: 60527MAM1<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503655.45    | 0.80%             | 2027-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      1000 | PA      | $901.57       | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    346000 | PA      | $283027.00    | 0.45%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                     | MFS Institutional Money Market Portfolio, Class A                         | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |   1022193 | NS      | $1022295.48   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2025 A                                     | CUSIP: 60535QZ86<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    750000 | PA      | $756702.00    | 1.20%             | 2045-12-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534XKC9<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $462634.95    | 0.73%             | 2036-11-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Mississippi Hospital Equipment & Facilities Authority        | Mississippi Hospital Equipment & Facilities Authority                     | CUSIP: 605360SV9<br>LEI: 549300DW2GVUIGE04396 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $952306.20    | 1.51%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority                         | Triborough Bridge & Tunnel Authority                                      | CUSIP: 89602HBZ9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |    545000 | PA      | $405436.62    | 0.64%             | 2051-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                         | Port of Beaumont Navigation District                                      | CUSIP: 73360CAM6<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    100000 | PA      | $72431.36     | 0.11%             | 2041-01-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2025                                 | CUSIP: 60534XD37<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515962.70    | 0.82%             | 2047-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2024                                 | CUSIP: 60534XVP8<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    750000 | PA      | $713392.43    | 1.13%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Medical Center Educational Building Corp.                    | Medical Center Educational Building Corp.                                 | CUSIP: 584556FK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $925438.30    | 1.46%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Warren MS                                          | County of Warren                                                          | CUSIP: 935019AX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $817050.98    | 1.29%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534WH50<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    750000 | PA      | $685689.08    | 1.09%             | 2043-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority        | Pennsylvania Economic Development Financing Authority                     | CUSIP: 70868YAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $312154.66    | 0.49%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534WYZ5<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039156.00   | 1.64%             | 2037-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     41212 | PA      | $44086.92     | 0.07%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District CA                         | San Diego Unified School District                                         | CUSIP: 797355M50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $742838.77    | 1.18%             | 2035-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                     | Massachusetts Development Finance Agency                                  | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    370000 | PA      | $295419.54    | 0.47%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                            | Iowa Student Loan Liquidity Corp.                                         | CUSIP: 462590MS6<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |     10000 | PA      | $9652.05      | 0.02%             | 2039-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |      7000 | PA      | $6192.56      | 0.01%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Village of Bridgeview IL                                     | Village of Bridgeview                                                     | CUSIP: 108555GG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $204595.34    | 0.32%             | 2036-12-01      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Mississippi Hospital Equipment & Facilities Authority        | Mississippi Hospital Equipment & Facilities Authority, Series 2025 C      | CUSIP: 605360UE4<br>LEI: 549300DW2GVUIGE04396 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509173.20    | 0.81%             | 2055-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Pearl MS                                             | City of Pearl, Series 2023                                                | CUSIP: 704770QK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $291491.17    | 0.46%             | 2038-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2025                                 | CUSIP: 60534XY34<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509786.15    | 0.81%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534WRR1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $414048.30    | 0.66%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                         | Puerto Rico Electric Power Authority                                      | CUSIP: 74526QLW0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     60000 | PA      | $59447.68     | 0.09%             | 2027-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                         | Puerto Rico Electric Power Authority, Series VV                           | CUSIP: 74526YGW9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     10000 | PA      | $9984.79      | 0.02%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Gulfport MS                                          | City of Gulfport, Series 2025                                             | CUSIP: 402682DH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516562.85    | 0.82%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2024A                                      | CUSIP: 60535QM98<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1743277.38   | 2.76%             | 2054-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Energy Southeast A Cooperative District                      | Energy Southeast A Cooperative District                                   | CUSIP: 292723AK9<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |    560000 | PA      | $616294.11    | 0.98%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     20000 | PA      | $19538.55     | 0.03%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                         | State of Mississippi, Series 2024                                         | CUSIP: 605606AX0<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033407.20   | 1.64%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534XQE9<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $952522.60    | 1.51%             | 2043-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Mississippi State University Educational Building Corp.      | Mississippi State University Educational Building Corp., Series 2024A     | CUSIP: 605699SU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $687333.38    | 1.09%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jackson County Utility Authority                             | Jackson County Utility Authority                                          | CUSIP: 467319AV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000563.00   | 3.17%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                    | New York Transportation Development Corp., Series 2016 A                  | CUSIP: 650116AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230146.76    | 0.36%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Medical Center Educational Building Corp.                    | Medical Center Educational Building Corp.                                 | CUSIP: 584556FJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1255515.25   | 1.99%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax | Chicago Board of Education Dedicated Capital Improvement Tax, Series 2016 | CUSIP: 167510AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $358910.51    | 0.57%             | 2035-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                     | New Hampshire Business Finance Authority                                  | CUSIP: 63607WAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    236127 | PA      | $233428.88    | 0.37%             | 2036-09-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp.                    | Golden State Tobacco Securitization Corp.                                 | CUSIP: 38122ND82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $177670.16    | 0.28%             | 2050-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                         | State of Mississippi                                                      | CUSIP: 605581MP9<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |    770000 | PA      | $722855.13    | 1.14%             | 2035-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Canton Public School District                                | Canton Public School District                                             | CUSIP: 138359CD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $371038.85    | 0.59%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534XBJ4<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1105000 | PA      | $1025041.87   | 1.62%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534XBK1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1354512.45   | 2.14%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Little Rock School District                                  | Little Rock School District                                               | CUSIP: 5374282N3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $542483.97    | 0.86%             | 2048-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534RZ36<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500768.90    | 0.79%             | 2036-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                         | Puerto Rico Electric Power Authority, Series SS                           | CUSIP: 74526QEY4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |     15000 | PA      | $14694.21     | 0.02%             | 2030-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                            | State of Illinois                                                         | CUSIP: 452153FL8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     65000 | PA      | $68029.26     | 0.11%             | 2047-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2025C                                      | CUSIP: 60535Q3M0<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508482.85    | 0.80%             | 2045-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Iowa Student Loan Liquidity Corp.                            | Iowa Student Loan Liquidity Corp.                                         | CUSIP: 462590MT4<br>LEI: 549300FO1LWVSZKGJK70 | Long             | DBT              | MUN               | US        |    110000 | PA      | $85055.48     | 0.13%             | 2044-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                       | Virginia Housing Development Authority, Series 2023 F                     | CUSIP: 92812WMR2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    385000 | PA      | $393018.43    | 0.62%             | 2048-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue            | City & County of Denver                                                   | CUSIP: 249182QW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $55042.26     | 0.09%             | 2047-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Southeast Energy Authority A Cooperative District            | Southeast Energy Authority A Cooperative District, Series 2024A           | CUSIP: 84136HAU7<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    210000 | PA      | $221346.80    | 0.35%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                            | State of Illinois                                                         | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    150000 | PA      | $159205.41    | 0.25%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp.                                                    | CUSIP: 60535QTW0<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $780335.20    | 1.23%             | 2043-12-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority               | Buckeye Tobacco Settlement Financing Authority                            | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $222465.91    | 0.35%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                         | Puerto Rico Electric Power Authority                                      | CUSIP: 74526QZZ8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    180000 | PA      | $123300.00    | 0.20%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     66803 | PA      | $65150.93     | 0.10%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534W5K0<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    435000 | PA      | $391487.12    | 0.62%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                     | Public Finance Authority                                                  | CUSIP: 74446EAA4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    115000 | PA      | $92000.00     | 0.15%             | 2027-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| County of Hinds MS                                           | County of Hinds                                                           | CUSIP: 433114AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $448476.10    | 0.71%             | 2054-09-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2024 E                                     | CUSIP: 60535QX62<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    750000 | PA      | $748205.63    | 1.18%             | 2044-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| West Rankin Utility Authority                                | West Rankin Utility Authority                                             | CUSIP: 955525BY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058174.30   | 1.67%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                     | Public Finance Authority, Series 2025                                     | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    270000 | PA      | $277605.06    | 0.44%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Tennergy Corp.                                               | Tennergy Corp.                                                            | CUSIP: 880397CF9<br>LEI: 5493008K3JJFBSC4C235 | Long             | DBT              | MUN               | US        |    265000 | PA      | $285993.94    | 0.45%             | 2053-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2024                                 | CUSIP: 60534XWK8<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $456308.10    | 0.72%             | 2044-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2024                                 | CUSIP: 60534XRT5<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    350000 | PA      | $326710.44    | 0.52%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2024                                 | CUSIP: 60534XSQ0<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034185.20   | 1.64%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp.                    | New York Transportation Development Corp., Series 2023                    | CUSIP: 650116GZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $475225.48    | 0.75%             | 2060-06-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2023C                                      | CUSIP: 60535QJ92<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994910.70    | 1.57%             | 2048-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Mississippi Business Finance Corp.                           | Mississippi Business Finance Corp.                                        | CUSIP: 605279MK1<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    500000 | PA      | $312880.00    | 0.50%             | 2044-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| San Antonio Housing Trust Public Facility Corp.              | San Antonio Housing Trust Public Facility Corp., Series BDS 2024A         | CUSIP: 79626WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $29660.98     | 0.05%             | 2043-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    234000 | PA      | $217248.24    | 0.34%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                         | Guam Government Waterworks Authority                                      | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    120000 | PA      | $120003.86    | 0.19%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                               | Wayne County Airport Authority                                            | CUSIP: 944514RS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60000.74     | 0.09%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534WXL7<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008439.00   | 1.60%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2025                                 | CUSIP: 60534XZT6<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036991.40   | 1.64%             | 2045-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp.                                                    | CUSIP: 60535QZZ6<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $946418.70    | 1.50%             | 2047-12-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Medical Center Educational Building Corp.                    | Medical Center Educational Building Corp.                                 | CUSIP: 584556HG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $916096.00    | 1.45%             | 2053-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                         | Puerto Rico Electric Power Authority, Series VV                           | CUSIP: 74526YGU3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    105000 | PA      | $105827.91    | 0.17%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Power Agency                                 | Texas Municipal Power Agency                                              | CUSIP: 882555ZR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $312119.16    | 0.49%             | 2033-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Warren MS                                          | County of Warren                                                          | CUSIP: 935019AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $825809.40    | 1.31%             | 2048-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Medical Center Educational Building Corp.                    | Medical Center Educational Building Corp., Series 2017 A                  | CUSIP: 584556FH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1263940.38   | 2.00%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi State University Educational Building Corp.      | Mississippi State University Educational Building Corp.                   | CUSIP: 605699RW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $566231.10    | 0.90%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    330000 | PA      | $247834.85    | 0.39%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 605341AS5<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1116666.40   | 1.77%             | 2034-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                         | Puerto Rico Electric Power Authority                                      | CUSIP: 74526QKX9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    120000 | PA      | $82200.00     | 0.13%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2024                                 | CUSIP: 60534XWL6<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    750000 | PA      | $772870.50    | 1.22%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     29283 | PA      | $27789.58     | 0.04%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                  | Virginia Small Business Financing Authority                               | CUSIP: 928104NZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $223264.92    | 0.35%             | 2041-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    150000 | PA      | $50957.43     | 0.08%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     39814 | PA      | $35652.10     | 0.06%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    162000 | PA      | $154998.36    | 0.25%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Massachusetts Bay Transportation Authority Sales Tax Revenue | Massachusetts Bay Transportation Authority Sales Tax Revenue              | CUSIP: 575579QA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $830908.20    | 1.32%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                         | Guam Government Waterworks Authority                                      | CUSIP: 40065FCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |    145000 | PA      | $145149.02    | 0.23%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Warren MS                                          | County of Warren, Series 2020A                                            | CUSIP: 935031AH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512178.60    | 0.81%             | 2034-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1086000 | PA      | $1048068.08   | 1.66%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayne County Airport Authority                               | Wayne County Airport Authority                                            | CUSIP: 944514RR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35010.90     | 0.06%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2025-1                                     | CUSIP: 60535NDQ7<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    750000 | PA      | $754752.53    | 1.19%             | 2042-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534WRF7<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501919.35    | 0.79%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax | Chicago Board of Education Dedicated Capital Improvement Tax              | CUSIP: 167510BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155976.89    | 0.25%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Territory of Guam                                            | Territory of Guam                                                         | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | GU        |     70000 | PA      | $65020.68     | 0.10%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534XAR7<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $448828.10    | 0.71%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi State University Educational Building Corp.      | Mississippi State University Educational Building Corp., Series 2024A     | CUSIP: 605699SV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $773037.83    | 1.22%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Toll Road Investors Partnership II LP                        | Toll Road Investors Partnership II LP                                     | CUSIP: 88948ABM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164899 | PA      | $55884.37     | 0.09%             | 2043-02-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2024 C                                     | CUSIP: 60535QS50<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    750000 | PA      | $759813.83    | 1.20%             | 2049-12-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp.                                                    | CUSIP: 60535QZY9<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973099.80    | 1.54%             | 2042-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     48848 | PA      | $34888.08     | 0.06%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                         | State of Mississippi, Series 2024                                         | CUSIP: 605606AW2<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |    750000 | PA      | $691640.03    | 1.09%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sunflower County Consolidated School District                | Sunflower County Consolidated School District                             | CUSIP: 86735PAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000638.30   | 1.58%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2025                                 | CUSIP: 60534XT55<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511734.05    | 0.81%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534TQH1<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    750000 | PA      | $762586.13    | 1.21%             | 2040-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| City & County of Denver CO Airport System Revenue            | City & County of Denver                                                   | CUSIP: 249182QY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $48640.90     | 0.08%             | 2053-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank                                              | CUSIP: 60534WT32<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013439.20   | 1.60%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alabama Housing Finance Authority                            | Alabama Housing Finance Authority, Series 2024A                           | CUSIP: 01030RJD5<br>LEI: 549300VFN7EHPOFS7D76 | Long             | DBT              | MUN               | US        |    250000 | PA      | $272612.98    | 0.43%             | 2055-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Education Dedicated Capital Improvement Tax | Chicago Board of Education Dedicated Capital Improvement Tax              | CUSIP: 167510BH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $64009.80     | 0.10%             | 2045-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mississippi Development Bank                                 | Mississippi Development Bank, Series 2024                                 | CUSIP: 60534XQY5<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    275000 | PA      | $261466.29    | 0.41%             | 2044-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                         | Colorado Health Facilities Authority                                      | CUSIP: 19648FKT0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |     20000 | PA      | $17049.81     | 0.03%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Pier & Exposition Authority                     | Metropolitan Pier & Exposition Authority                                  | CUSIP: 592248BB3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |    905000 | PA      | $368650.21    | 0.58%             | 2044-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp.                      | New York City Housing Development Corp.                                   | CUSIP: 64972EA74<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    580000 | PA      | $406954.68    | 0.64%             | 2045-11-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     71000 | PA      | $67931.38     | 0.11%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp.           | Matching Fund Special Purpose Securitization Corp.                        | CUSIP: 57665NAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | VI        |     35000 | PA      | $35271.46     | 0.06%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue      | Puerto Rico Sales Tax Financing Corp. Sales Tax                           | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |     71000 | PA      | $66722.97     | 0.11%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     37958 | PA      | $37531.41     | 0.06%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority              | California Community Choice Financing Authority                           | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    460000 | PA      | $490779.61    | 0.78%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Mississippi                                         | State of Mississippi                                                      | CUSIP: 605581LD7<br>LEI: 549300JRWW5RFQUB7P94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026873.70   | 1.63%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    128406 | PA      | $110829.88    | 0.18%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Liberty Development Corp.                           | New York Liberty Development Corp.                                        | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $209998.82    | 0.33%             | 2044-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Mississippi Home Corp.                                       | Mississippi Home Corp., Series 2024 C                                     | CUSIP: 60535QS43<br>LEI: 549300FFY35B829JR607 | Long             | DBT              | MUN               | US        |    750000 | PA      | $761155.65    | 1.20%             | 2044-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |    157038 | PA      | $103841.58    | 0.16%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                  | Commonwealth of Puerto Rico                                               | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |     40029 | PA      | $44358.58     | 0.07%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** MFS Municipal Series Trust

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer