# EDGAR Filing Document

**Accession Number:** 0000746601
**File Stem:** 0000940400-25-009479
**Filing Date:** 2025-11
**Character Count:** 111717
**Document Hash:** 56f63eccb980d68536f69eabfee3e335
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009479.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009479

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SIT MUTUAL FUNDS II INC
- **CENTRAL INDEX KEY:** 0000746601

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04033
- **FILM NUMBER:** 251512229

**BUSINESS ADDRESS:**
- **STREET 1:** 3300 IDS CTR, 80 S. 8TH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 612-332-3223

**MAIL ADDRESS:**
- **STREET 1:** 3300 IDS CTR, 80 S. 8TH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIT NEW BEGINNING TAX FREE INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIT NEW BEGINNING YIELD FUND INC
- **DATE OF NAME CHANGE:** 19880929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW BEGINNING YIELD FUND INC
- **DATE OF NAME CHANGE:** 19870907

## Series and Classes Contracts Data

### Sit Minnesota Tax-Free Income Fund (Series ID: S000003468)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000009602 | Sit Minnesota Tax-Free Income Fund | SMTFX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SIT MUTUAL FUNDS II INC

- **b. Investment Company Act file number:** 811-04033

- **c. CIK number of Registrant:** 0000746601

- **d. LEI of Registrant:** 2549002D9C8PNDJXIE31

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

  - **Street Address 1:** 80 S. Eighth Street

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55402

  - **Telephone number:** 612-332-3223

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

- **a. Name of Series:** Sit Minnesota Tax-Free Income Fund

- **b. EDGAR series identifier (if any):** S000003468

- **c. LEI of Series:** 254900AFSQI1LY58ZW63

**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:** $375612608.03

**Total Liabilities:** $1666883.19

**Net Assets:** $373945724.84

**Cash Not Reported:** $9996033.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 841.31279000 | **1-Year:** 5447.84167000 | **5-Year:** 33606.08611000 | **10-Year:** 218033.90643000 | **30-Year:** 20306.93772000

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

- **3-Month:** 282.89420000 | **1-Year:** 937.09174000 | **5-Year:** 4366.32071000 | **10-Year:** 9613.46483000 | **30-Year:** 51.25684000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009602 | -0.64%               | 1.27%                | 3.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-240732.58              | $-3351865.06                               |
| Month 2  | $-912519.80              | $4555571.02                                |
| Month 3  | $-334131.52              | $11747692.24                               |

**Designated Index Information**

- **Index Name:** Carve Out - ZFA_SI40

- **Index Identifier:** CO_ZFA_SI40

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COLOGNE MN CHRT SCH LEASE REVE                 | City of Cologne MN                                                              | CUSIP: 195239AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $470248.49    | 0.13%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL                 | City of Minneapolis MN                                                          | CUSIP: 603787AE2<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    190000 | PA      | $189831.43    | 0.05%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOORHEAD MN HLTH CARE REVENUE                  | City of Moorhead MN                                                             | CUSIP: 61615CAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $932395.30    | 0.25%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLOQUET MN HSG FAC REVENUE                     | City of Cloquet MN                                                              | CUSIP: 189022CE4<br>LEI: 5493006V6FIYLT2MSR46 | Long             | DBT              | MUN               | US        |    200000 | PA      | $169892.62    | 0.05%             | 2034-08-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297DT4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026540.10   | 0.27%             | 2038-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ST JOSEPH MN SENIOR HSG & HLTH                 | City of St Joseph MN                                                            | CUSIP: 790755AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1327636.20   | 0.36%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WS                 | Guam Government Waterworks Authority                                            | CUSIP: 40065FCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002055.40   | 0.54%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MN CHRT SCH LEASE                 | City of Independence MN                                                         | CUSIP: 45362RAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $79641.46     | 0.02%             | 2026-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C                 | Duluth Economic Development Authority                                           | CUSIP: 26444CJN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $694894.21    | 0.19%             | 2044-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YCP9<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1269089.68   | 0.34%             | 2037-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WACONIA MN INDEP SCH DIST #110                 | Waconia Independent School District No 110                                      | CUSIP: 930051AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500435.55    | 0.13%             | 2037-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH LEASE                  | St Paul Port Authority                                                          | CUSIP: 79304NFW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3105000 | PA      | $3106714.89   | 0.83%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET                  | Minneapolis-St Paul Metropolitan Airports Commission                            | CUSIP: 603827YZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505004.25    | 0.14%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PINE ISLAND MN INDEP SCH DIST#                 | Pine Island Independent School District No 255                                  | CUSIP: 722650AR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $545598.00    | 0.15%             | 2047-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| N OAKS MN SENIOR HSG REVENUE                   | City of North Oaks MN                                                           | CUSIP: 66126TAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508807.25   | 0.40%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416T6X1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    955000 | PA      | $1040990.78   | 0.28%             | 2054-01-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH DIST E                 | St Paul Port Authority                                                          | CUSIP: 79308GBC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $665930.40    | 0.18%             | 2046-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416JFL9<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3033896.70   | 0.81%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOORHEAD MN ECON DEV AUTH HLTH                 | Moorhead Economic Development Authority                                         | CUSIP: 61615JAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $276889.73    | 0.07%             | 2026-09-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| MORRISON CNTY MN EDU DIST #697                 | Morrison County Education District No 6979                                      | CUSIP: 618398AJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000491.90   | 0.27%             | 2034-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS                  | City of Maple Grove MN                                                          | CUSIP: 56516TBR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $838421.43    | 0.22%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TFJ2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1223113.08   | 0.33%             | 2041-07-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297BH2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1150174.92   | 0.31%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLOQUET MN HSG FAC REVENUE                     | City of Cloquet MN                                                              | CUSIP: 189022BY1<br>LEI: 5493006V6FIYLT2MSR46 | Long             | DBT              | MUN               | US        |    180000 | PA      | $167485.00    | 0.04%             | 2028-08-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY M                 | Dakota County Community Development Agency                                      | CUSIP: 23409VEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $821120.90    | 0.22%             | 2035-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLOQUET MN HSG FAC REVENUE                     | City of Cloquet MN                                                              | CUSIP: 189022CJ3<br>LEI: 5493006V6FIYLT2MSR46 | Long             | DBT              | MUN               | US        |    500000 | PA      | $344767.05    | 0.09%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MOORHEAD MN HLTH CARE REVENUE                  | City of Moorhead MN                                                             | CUSIP: 61615CAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $217110.05    | 0.06%             | 2037-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WOODBURY MN CHRT SCH LEASE REV                 | City of Woodbury MN                                                             | CUSIP: 979134AY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2803454.70   | 0.75%             | 2045-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416H2T0<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2815000 | PA      | $1916732.09   | 0.51%             | 2040-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416JHZ6<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   3650000 | PA      | $3710314.79   | 0.99%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY HOMEO                 | Minnesota Housing Finance Agency                                                | CUSIP: 60416QHT4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    821114 | PA      | $680642.41    | 0.18%             | 2050-01-01      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416SCY4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000561.50   | 0.27%             | 2043-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST                                   | State of Minnesota                                                              | CUSIP: 60412AXR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3551911.00   | 0.95%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | St Paul Housing & Redevelopment Authority Parking Enterprise Revenue            | CUSIP: 79289WBW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044940.50   | 0.28%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA                 | City of Minneapolis MN                                                          | CUSIP: 60375CAY0<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    490000 | PA      | $407793.29    | 0.11%             | 2031-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST OFFICE OF HGR EDU                 | Minnesota Office of Higher Education                                            | CUSIP: 60416MBL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $993430.45    | 0.27%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N E MN MET INTERMEDIATE SCH DI                 | Northeastern Metropolitan Intermediate School District No 916                   | CUSIP: 664259DB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001692.40   | 0.27%             | 2034-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN INDEP SCH DIST #                 | St Paul Independent School District No 625                                      | CUSIP: 7928955Z3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2475000 | PA      | $1751599.58   | 0.47%             | 2040-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SAINT ANTHONY MN MF REVENUE                    | City of St Anthony MN                                                           | CUSIP: 787285BR5<br>LEI: 549300DDY05Y9DN3OM35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001161.80   | 0.54%             | 2030-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TBG2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3130000 | PA      | $2200481.40   | 0.59%             | 2045-07-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R                 | City of Minneapolis MN                                                          | CUSIP: 60374VDT7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   2590000 | PA      | $2593461.02   | 0.69%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74527EFV5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    200000 | PA      | $183099.34    | 0.05%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARVER & SIBLEY CNTYS MN INDEP                 | Norwood Young America Independent School District No 108                        | CUSIP: 146873BV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $969262.20    | 0.26%             | 2045-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| OAK PARK HEIGHTS MN NURSING HO                 | City of Oak Park Heights MN                                                     | CUSIP: 671576AX4<br>LEI: 549300837OY6JGJQH303 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500022.80   | 0.40%             | 2028-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297DH0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $575750.00    | 0.15%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN                 | City of Bethel MN                                                               | CUSIP: 086759AL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1467749.15   | 0.39%             | 2047-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNETONKA MN INDEP SCH DIST #                 | Minnetonka Independent School District No 276                                   | CUSIP: 604204YA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $448815.30    | 0.12%             | 2051-07-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS PARK MN HLTH CARE                  | City of St Louis Park MN                                                        | CUSIP: 791748FN1<br>LEI: 549300F6X6Q4H3ALF786 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1996021.35   | 0.53%             | 2041-06-01      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416S4B3<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1245042.29   | 0.33%             | 2035-01-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BRAINERD MN SENIOR HSG & HLTHC                 | City of Brainerd MN                                                             | CUSIP: 10501DAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002972.90   | 0.27%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MADISON LAKE MN                                | City of Madison Lake MN                                                         | CUSIP: 557726HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $386096.41    | 0.10%             | 2042-02-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE & HSG R                 | City of Rochester MN                                                            | CUSIP: 771906CV4<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250104.85    | 0.07%             | 2048-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416SJT8<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2002377.40   | 0.54%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792904EL4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170116.48    | 0.05%             | 2028-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DULUTH MN HSG & REDEV AUTH CHR                 | Duluth Housing & Redevelopment Authority                                        | CUSIP: 264454AH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $279196.82    | 0.07%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLOQUET MN HSG FAC REVENUE                     | City of Cloquet MN                                                              | CUSIP: 189022CA2<br>LEI: 5493006V6FIYLT2MSR46 | Long             | DBT              | MUN               | US        |    250000 | PA      | $225560.75    | 0.06%             | 2030-08-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN MF REVENUE                      | City of Minneapolis MN                                                          | CUSIP: 603767PE8<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   4535498 | PA      | $3674243.32   | 0.98%             | 2038-02-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBD7<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    300000 | PA      | $281594.85    | 0.08%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAYWARD MN HLTH CARE FACS REVE                 | City of Hayward MN                                                              | CUSIP: 421306AB7<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1041439.55   | 0.28%             | 2034-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN SAMOA AS ECON DEV AUT                 | American Samoa Economic Development Authority                                   | CUSIP: 02936TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004155.80   | 0.54%             | 2029-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792908CQ6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2280211.44   | 0.61%             | 2047-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416H3Z5<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $891858.90    | 0.24%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 79289TFD9<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    720000 | PA      | $684979.27    | 0.18%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RICHFIELD MN INDEP SCH DIST #2                 | Richfield Independent School District No 280                                    | CUSIP: 763342TX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007568.10   | 0.27%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MN CHRT SCH LEASE                 | City of Independence MN                                                         | CUSIP: 45362RAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1171227.00   | 0.31%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR                 | City of Center City MN                                                          | CUSIP: 151452CQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022657.80   | 0.27%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792904EM2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    499000 | PA      | $500954.33    | 0.13%             | 2028-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416HV43<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1129435.13   | 0.30%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRIDLEY MN MF HSG REVENUE                      | City of Fridley MN                                                              | CUSIP: 358413AA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3197758 | PA      | $3191227.71   | 0.85%             | 2034-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TFL7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   9340000 | PA      | $6200152.59   | 1.66%             | 2052-01-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BLAINE MN SENIOR HSG & HLTHCAR                 | City of Blaine MN                                                               | CUSIP: 092792AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1117145 | PA      | $614429.68    | 0.16%             | 2025-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN                 | City of Minneapolis MN/St Paul Housing & Redevelopment Authority                | CUSIP: 603695KE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046523.20   | 0.28%             | 2043-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAITE PARK MN                                  | City of Waite Park MN                                                           | CUSIP: 930727P97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $781065.60    | 0.21%             | 2050-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET                  | Minneapolis-St Paul Metropolitan Airports Commission                            | CUSIP: 603827N44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1555561.18   | 0.42%             | 2054-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TXZ6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1722409.20   | 0.46%             | 2045-07-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792893HX0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2058347.60   | 0.55%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 79289TES7<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $958809.41    | 0.26%             | 2043-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DULUTH MN HSG & REDEV AUTH CHR                 | Duluth Housing & Redevelopment Authority                                        | CUSIP: 264454AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $985217.42    | 0.26%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET                  | Minneapolis-St Paul Metropolitan Airports Commission                            | CUSIP: 603827Q82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2594401.25   | 0.69%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBE5<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    440000 | PA      | $384318.97    | 0.10%             | 2041-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNETONKA MN INDEP SCH DIST #                 | Minnetonka Independent School District No 276                                   | CUSIP: 604204ZG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $694342.70    | 0.19%             | 2041-02-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH DIST E                 | St Paul Port Authority                                                          | CUSIP: 79308GAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $899936.00    | 0.24%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TLR7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2565000 | PA      | $1787499.00   | 0.48%             | 2046-01-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YDR4<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    450000 | PA      | $380812.28    | 0.10%             | 2027-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TLQ9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   7680000 | PA      | $5753581.82   | 1.54%             | 2041-07-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416JCE8<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3592031.60   | 0.96%             | 2044-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YDS2<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    950000 | PA      | $496696.86    | 0.13%             | 2037-01-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YDH6<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $1602114.11   | 0.43%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74527EFX1<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    220000 | PA      | $193572.72    | 0.05%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Multifamily Tax-Exempt Mortgag                 | Multifamily Tax-Exempt Mortgage-backed Securities                               | CUSIP: 264455AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1241162 | PA      | $1257542.35   | 0.34%             | 2041-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBF2<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    830000 | PA      | $642349.20    | 0.17%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHISAGO MN HSG & HLTHCR REVENU                 | City of Chisago City MN                                                         | CUSIP: 17012CAS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750394.95    | 0.20%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297AL4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700288.47    | 0.19%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MN CHRT SCH LEASE                 | City of Independence MN                                                         | CUSIP: 45362RAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $748452.68    | 0.20%             | 2031-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA                 | City of Minneapolis MN                                                          | CUSIP: 60375CAT1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    625000 | PA      | $623866.31    | 0.17%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TGV4<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   8270000 | PA      | $5788385.54   | 1.55%             | 2046-07-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| MINNETONKA MN MF HSG REVENUE                   | City of Minnetonka MN                                                           | CUSIP: 604217CS6<br>LEI: 549300NQZ4FEG58M2309 | Long             | DBT              | MUN               | US        |   1777739 | PA      | $1659984.07   | 0.44%             | 2034-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792892HM6<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2590000 | PA      | $2393733.69   | 0.64%             | 2043-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BLAINE MN SENIOR HSG & HLTHCAR                 | City of Blaine MN                                                               | CUSIP: 092792AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1470163 | PA      | $808589.46    | 0.22%             | 2035-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416JFK1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2026498.20   | 0.54%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792892HL8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    720000 | PA      | $720114.91    | 0.19%             | 2030-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| STHRN MINNESOTA ST MUNI PWR AG                 | Southern Minnesota Municipal Power Agency                                       | CUSIP: 843375C87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004226.90   | 0.27%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen Minnesota Quality Municipal Income Fund | Nuveen Minnesota Quality Municipal Income Fund                                  | CUSIP: 670734102<br>LEI: 549300G7ZQTM08LLEK41 | Long             | EC               | RF                | US        |     87851 | NS      | $1046305.41   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBJ4<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    400000 | PA      | $399364.48    | 0.11%             | 2045-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BETHEL MN REVENUE                              | City of Bethel MN                                                               | CUSIP: 086760AQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1457004.90   | 0.39%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTER CITY MN HLTH CARE FACSR                 | City of Center City MN                                                          | CUSIP: 151452CR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502971.20    | 0.13%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TYA0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1259564.21   | 0.34%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN MF REVENUE                      | City of Minneapolis MN                                                          | CUSIP: 603767NR1<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1015247.86   | 0.27%             | 2031-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY G                 | Dakota County Community Development Agency                                      | CUSIP: 23409REL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2467696.00   | 0.66%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416S4D9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3420000 | PA      | $2577760.70   | 0.69%             | 2044-01-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| CLOQUET MN HSG FAC REVENUE                     | City of Cloquet MN                                                              | CUSIP: 189022CB0<br>LEI: 5493006V6FIYLT2MSR46 | Long             | DBT              | MUN               | US        |    200000 | PA      | $177711.36    | 0.05%             | 2031-08-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY HOMEO                 | Minnesota Housing Finance Agency                                                | CUSIP: 60416QHL1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    472267 | PA      | $445259.21    | 0.12%             | 2049-03-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TVY1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1880000 | PA      | $1957480.06   | 0.52%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TXY9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1289240.72   | 0.34%             | 2042-07-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBG0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    750000 | PA      | $547920.23    | 0.15%             | 2061-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN HLTH CARE SYS R                 | City of Minneapolis MN                                                          | CUSIP: 60374VEF6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2503332.75   | 0.67%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY HOMEO                 | Minnesota Housing Finance Agency                                                | CUSIP: 60416QJD7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3260526 | PA      | $2763277.04   | 0.74%             | 2051-12-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416SCU2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |     22000 | PA      | $21571.23     | 0.01%             | 2038-07-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | St Paul Housing & Redevelopment Authority Parking Enterprise Revenue            | CUSIP: 79289WBX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041561.40   | 0.28%             | 2045-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PINE ISLAND MN INDEP SCH DIST#                 | Pine Island Independent School District No 255                                  | CUSIP: 722650AP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $361510.96    | 0.10%             | 2040-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO INDL TOURIST EDUCT                 | Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth | CUSIP: 74527EFT0<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |    175000 | PA      | $165580.52    | 0.04%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGIN ISLANDS PUBLIC FIN AUTH                 | Virgin Islands Public Finance Authority                                         | CUSIP: 927676RV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1878064.60   | 0.50%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV                 | City of Ham Lake MN                                                             | CUSIP: 406511AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $423908.56    | 0.11%             | 2026-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLOOMING PRAIRIE MN INDEP SCH                  | Blooming Prairie Independent School District No 756                             | CUSIP: 094311FS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $842825.23    | 0.23%             | 2045-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TCN6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3165000 | PA      | $2201541.40   | 0.59%             | 2040-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE MN CHARTER SCH LEA                 | City of Forest Lake MN                                                          | CUSIP: 345856AH1<br>LEI: 549300YEG0ZNW83BJB14 | Long             | DBT              | MUN               | US        |    850000 | PA      | $850508.64    | 0.23%             | 2036-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297CM0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    700000 | PA      | $665145.74    | 0.18%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TCQ9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3449738.00   | 0.92%             | 2051-01-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416T5P9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    900000 | PA      | $969268.32    | 0.26%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL                 | City of Minneapolis MN                                                          | CUSIP: 603787AK8<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1474749.30   | 0.39%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YCL8<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    950000 | PA      | $918961.13    | 0.25%             | 2030-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE                 | City of Deephaven MN                                                            | CUSIP: 24380HAR3<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600120.48    | 0.16%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ST BONIFACIUS MN HLTHCARE REVE                 | City of St Bonifacius MN                                                        | CUSIP: 78763EAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2236353.06   | 0.60%             | 2045-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MN CHRT SCH LEASE                 | City of Independence MN                                                         | CUSIP: 45362RAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $205997.63    | 0.06%             | 2031-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA                 | City of Minneapolis MN                                                          | CUSIP: 60375CAV6<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956858.40    | 0.26%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297DL1<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |     75000 | PA      | $73502.45     | 0.02%             | 2026-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TPJ1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $983035.37    | 0.26%             | 2045-01-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| N OAKS MN SENIOR HSG REVENUE                   | City of North Oaks MN                                                           | CUSIP: 66126TBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $136056.47    | 0.04%             | 2041-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TGU6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   7295000 | PA      | $5362436.32   | 1.43%             | 2041-07-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE                 | City of Deephaven MN                                                            | CUSIP: 24380HAS1<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999926.90    | 0.27%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY HOMEO                 | Minnesota Housing Finance Agency                                                | CUSIP: 60416QHG2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    453039 | PA      | $428546.82    | 0.11%             | 2048-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE & HSG R                 | City of Rochester MN                                                            | CUSIP: 771906CT9<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |    720000 | PA      | $720773.57    | 0.19%             | 2033-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297AW0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    955000 | PA      | $954984.82    | 0.26%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROBBINSDALE MN INDEP SCH DIST#                 | Robbinsdale Independent School District No 281                                  | CUSIP: 770265HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $713600.40    | 0.19%             | 2041-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TCP1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3850000 | PA      | $2581618.27   | 0.69%             | 2045-07-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE T                 | Territory of Guam                                                               | CUSIP: 40065NCG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2757428.58   | 0.74%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RAU0<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1776617.00   | 0.48%             | 2058-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDEPENDENCE MN CHRT SCH LEASE                 | City of Independence MN                                                         | CUSIP: 45362RAR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $989278.56    | 0.26%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBL9<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750785.48    | 0.20%             | 2065-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY HOMEO                 | Minnesota Housing Finance Agency                                                | CUSIP: 60416QHC1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   1440409 | PA      | $1318534.56   | 0.35%             | 2048-05-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE                  | City of Wayzata MN                                                              | CUSIP: 946829BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963534.10    | 0.26%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST OFFICE OF HGR EDU                 | Minnesota Office of Higher Education                                            | CUSIP: 60416MCA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1895318.80   | 0.51%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C                 | Duluth Economic Development Authority                                           | CUSIP: 26444CKD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $355777.07    | 0.10%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Multifamily Mortgage Bonds                     | Housing & Redevelopment Authority of Duluth Minnesota                           | CUSIP: 264469AC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1362089.95   | 0.36%             | 2042-08-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HUGO MN CHTR SCH LEASE REVENUE                 | City of Hugo MN                                                                 | CUSIP: 444584AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $615360.51    | 0.16%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416HV27<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $756730.28    | 0.20%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297BJ8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    705000 | PA      | $672633.45    | 0.18%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY M                 | Dakota County Community Development Agency                                      | CUSIP: 23409VFP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $993974.10    | 0.27%             | 2043-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297CW8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    600000 | PA      | $537177.78    | 0.14%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416HX82<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1903495.24   | 0.51%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792908CG8<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $1964390.07   | 0.53%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | St Paul Housing & Redevelopment Authority Parking Enterprise Revenue            | CUSIP: 79289WBV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050953.50   | 0.28%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HUGO MN CHTR SCH LEASE REVENUE                 | City of Hugo MN                                                                 | CUSIP: 444584AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000312.30   | 0.27%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416ST34<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3130000 | PA      | $2382481.51   | 0.64%             | 2044-07-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE                  | City of Wayzata MN                                                              | CUSIP: 946829BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1316463.60   | 0.35%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERGAS MN HSG & HLTH CARE FACS                 | City of Vergas MN                                                               | CUSIP: 923413AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $767329.60    | 0.21%             | 2043-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SARTELL MN HLTH CARE & HSG FAC                 | City of Sartell MN                                                              | CUSIP: 803807AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2149803.06   | 0.57%             | 2037-09-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| N OAKS MN SENIOR HSG REVENUE                   | City of North Oaks MN                                                           | CUSIP: 66126TAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1939551.60   | 0.52%             | 2033-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAUK CENTRE MN INDEP SCH DIST                  | Sauk Centre Independent School District No 743                                  | CUSIP: 804277HW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $702439.80    | 0.19%             | 2040-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ST PAUL PARK MN SENIOR HSG & H                 | City of St Paul Park MN                                                         | CUSIP: 85235KAW3<br>LEI: 549300RN3JLIQQH41516 | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1768907.50   | 0.47%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE                 | City of Rochester MN                                                            | CUSIP: 771902HC0<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3476919.90   | 0.93%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ANOKA MN HSG REVENUE                           | City of Anoka MN                                                                | CUSIP: 036327AH7<br>LEI: 549300R336CIYVDY0N47 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $932106.50    | 0.25%             | 2046-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHATFIELD MN HLTHCARE & HSG FA                 | City of Chatfield MN                                                            | CUSIP: 161818AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $999888.00    | 0.27%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N OAKS MN SENIOR HSG REVENUE                   | City of North Oaks MN                                                           | CUSIP: 66126TBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945968.90    | 0.25%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TEA2<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   5635000 | PA      | $3826985.46   | 1.02%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HAYWARD MN HLTH CARE FACS REVE                 | City of Hayward MN                                                              | CUSIP: 421306AC5<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $346455.75    | 0.09%             | 2044-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BETHEL MN HSG AND HLTH CARE FA                 | City of Bethel MN Housing and Health Care Facilities Revenue                    | CUSIP: 08675RAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1968937.40   | 0.53%             | 2044-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LAKEVILLE MN HSG & REDEV AUTH                  | Lakeville Housing & Redevelopment Authority                                     | CUSIP: 512452CR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1254593.00   | 0.34%             | 2032-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ZUMBROTA-MAZEPPA MN INDEP SCHD                 | Zumbrota-Mazeppa Independent School District No 2805                            | CUSIP: 989786EG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1013506.95   | 0.27%             | 2044-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TBH0<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   6210000 | PA      | $4286992.15   | 1.15%             | 2051-01-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416JCC2<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |    850000 | PA      | $880143.38    | 0.24%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792908CJ2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1072524.71   | 0.29%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HGR EDU FACS AUTH                 | Minnesota Health & Education Facilities Authority                               | CUSIP: 60416JCZ1<br>LEI: 549300DI4V4CIPMX7K35 | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2095153.21   | 0.56%             | 2041-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| N E MN MET INTERMEDIATE SCH DI                 | Northeastern Metropolitan Intermediate School District No 916                   | CUSIP: 664259DD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2499152.75   | 0.67%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ITASCA CNTY MN INDEP SCH DIST#                 | Itasca County Independent School District No 318                                | CUSIP: 465468FE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2240612.70   | 0.60%             | 2039-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CRYSTAL MN GOVTL FACS REVENUE                  | City of Crystal MN                                                              | CUSIP: 229352AA7<br>LEI: 5493006VVT2V0LJJNG38 | Long             | DBT              | MUN               | US        |     91613 | PA      | $89865.46     | 0.02%             | 2026-12-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792904ET7<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    106000 | PA      | $106213.07    | 0.03%             | 2028-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH DIST E                 | St Paul Port Authority                                                          | CUSIP: 79308GAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $762682.35    | 0.20%             | 2042-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TQP6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2300000 | PA      | $1823307.06   | 0.49%             | 2043-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MAPLE GROVE MN HLTH CARE FACS                  | City of Maple Grove MN                                                          | CUSIP: 56516TBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2095615.98   | 0.56%             | 2037-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARVER & SIBLEY CNTYS MN INDEP                 | Norwood Young America Independent School District No 108                        | CUSIP: 146873BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $950047.70    | 0.25%             | 2042-02-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TFK9<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    475000 | PA      | $334078.05    | 0.09%             | 2046-07-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST AGRIC & ECON DEVB                 | Minnesota Agricultural & Economic Development Board                             | CUSIP: 6049203E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4115885.60   | 1.10%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C                 | Duluth Economic Development Authority                                           | CUSIP: 26444CKL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1139420.37   | 0.30%             | 2052-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297BG4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700655.55    | 0.19%             | 2030-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TXU7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    975000 | PA      | $1020881.65   | 0.27%             | 2036-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN SENIOR HSG & HL                 | City of Minneapolis MN                                                          | CUSIP: 603787AH5<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |    375000 | PA      | $374992.99    | 0.10%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297CV0<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    770000 | PA      | $746823.00    | 0.20%             | 2029-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OAK PARK HEIGHTS MN NURSING HO                 | City of Oak Park Heights MN                                                     | CUSIP: 671576AZ9<br>LEI: 549300837OY6JGJQH303 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985630.70    | 0.26%             | 2036-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAUK RAPIDS MN HLTH CARE HSG F                 | City of Sauk Rapids MN                                                          | CUSIP: 804359BW6<br>LEI: 549300EEYEG1XIKNKU21 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1426145.97   | 0.38%             | 2039-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE                 | City of Deephaven MN                                                            | CUSIP: 24380HAQ5<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |   1255000 | PA      | $1255625.37   | 0.34%             | 2037-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN                 | City of St Cloud MN                                                             | CUSIP: 78916VDR8<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   5385000 | PA      | $5400802.82   | 1.44%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW ULM MN ECON DEV AUTH HSG F                 | New Ulm Economic Development Authority                                          | CUSIP: 64902PAQ2<br>LEI: 549300CQGZ47OC3M6S05 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1241122.35   | 0.33%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAVAGE MN CHRT SCH LEASE REVEN                 | City of Savage MN                                                               | CUSIP: 80466EAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $213947.23    | 0.06%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE & HSG R                 | City of Rochester MN                                                            | CUSIP: 771906CU6<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2502283.50   | 0.67%             | 2035-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297CY4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $809129.30    | 0.22%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE                 | City of Rochester MN                                                            | CUSIP: 771902HQ9<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3916398.40   | 1.05%             | 2053-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN PORT AUTH SOL WS                 | St Paul Port Authority                                                          | CUSIP: 79307RAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956974.70    | 0.26%             | 2037-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WSTRN MN MUNI PWR AGY                          | Western Minnesota Municipal Power Agency                                        | CUSIP: 958697KD5<br>LEI: 549300LFJK9CQSN2NJ11 | Long             | DBT              | MUN               | US        |    600000 | PA      | $602324.40    | 0.16%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAUDERDALE MN MF REVENUE                       | City of Lauderdale MN                                                           | CUSIP: 51855TBC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1914070.40   | 0.51%             | 2040-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV                 | City of Ham Lake MN                                                             | CUSIP: 406511AA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $876912.58    | 0.23%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROOKSTON MN HLTH CARE FACS RE                 | City of Crookston MN                                                            | CUSIP: 227235AV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $727413.20    | 0.19%             | 2032-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ITASCA CNTY MN                                 | County of Itasca MN                                                             | CUSIP: 465452MF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2524282.80   | 0.68%             | 2050-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ITASCA CNTY MN INDEP SCH DIST#                 | Itasca County Independent School District No 318                                | CUSIP: 465468FF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $3046340.50   | 0.81%             | 2040-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ROSEAU MN INDEP SCH DIST #682                  | Roseau Independent School District No 682                                       | CUSIP: 777203KD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $255829.40    | 0.07%             | 2046-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TDZ8<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   7645000 | PA      | $5412056.81   | 1.45%             | 2046-07-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 792904FH2<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    290000 | PA      | $290184.47    | 0.08%             | 2029-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN HLTH CARE FACS RE                 | City of Rochester MN                                                            | CUSIP: 771902HF3<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $6966380.25   | 1.86%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN                                 | City of St Cloud MN                                                             | CUSIP: 78916CAU6<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $787054.45    | 0.21%             | 2041-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN                 | City of Minneapolis MN/St Paul Housing & Redevelopment Authority                | CUSIP: 603695KD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2631583.50   | 0.70%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY M                 | Dakota County Community Development Agency                                      | CUSIP: 23409VEJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $772072.56    | 0.21%             | 2030-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST OFFICE OF HGR EDU                 | Minnesota Office of Higher Education                                            | CUSIP: 60416MBS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2260000 | PA      | $2105749.58   | 0.56%             | 2038-11-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TPH5<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   3410000 | PA      | $2666942.25   | 0.71%             | 2042-07-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HAM LAKE MN CHRT SCH LEASE REV                 | City of Ham Lake MN                                                             | CUSIP: 406511AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2720000 | PA      | $2725434.83   | 0.73%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST CLOUD MN CHRT SCH LEASE REV                 | City of St Cloud MN                                                             | CUSIP: 788326AC0<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1698481.49   | 0.45%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WHITE BEAR LAKE MN INDEP SCH D                 | White Bear Lake Independent School District No 624                              | CUSIP: 963439C44<br>LEI: 549300I7BXOUJLASQ618 | Long             | DBT              | MUN               | US        |  10850000 | PA      | $9036260.84   | 2.42%             | 2043-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YCQ7<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1256988.33   | 0.34%             | 2047-01-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN ELEC UTILITY REVE                 | City of Rochester MN Electric Utility Revenue                                   | CUSIP: 77158PGE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508659.85    | 0.14%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLE VY MN SENIOR HSG REVENUE                 | City of Apple Valley MN                                                         | CUSIP: 03800RBK1<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499278.15    | 0.13%             | 2055-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ITASCA CNTY MN                                 | County of Itasca MN                                                             | CUSIP: 465452MA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1329653.40   | 0.36%             | 2045-02-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN CHARTER SCH LEA                 | City of Minneapolis MN                                                          | CUSIP: 60375CAZ7<br>LEI: 54930069TEI1INHRHS55 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1035038.89   | 0.28%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOORHEAD MN                                    | City of Moorhead MN                                                             | CUSIP: 616142SY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $340775.88    | 0.09%             | 2042-02-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416TJM1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2065000 | PA      | $1674262.35   | 0.45%             | 2043-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HAYWARD HSG & HLTHCARE FACS RE                 | City of Hayward MN                                                              | CUSIP: 421307AL3<br>LEI: 549300YF6QD4DXUDGL81 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1007000.00   | 0.27%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS MN & SAINT PAUL MN                 | City of Minneapolis MN/St Paul Housing & Redevelopment Authority                | CUSIP: 603702AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2765053.36   | 0.74%             | 2042-01-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APPLE VLY MN SENIOR LIVING REV                 | City of Apple Valley MN                                                         | CUSIP: 03789YCG9<br>LEI: 549300AMWD6044L1SO95 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1171665.23   | 0.31%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WS                 | Guam Government Waterworks Authority                                            | CUSIP: 40065FFK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045104.20   | 0.28%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297DF4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |    700000 | PA      | $329000.00    | 0.09%             | 2031-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DAKOTA CNTY MN CMNTY DEV AGY M                 | Dakota County Community Development Agency                                      | CUSIP: 23409VFK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2015786.50   | 0.54%             | 2039-04-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| PINE ISLAND MN INDEP SCH DIST#                 | Pine Island Independent School District No 255                                  | CUSIP: 722650AQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $705577.27    | 0.19%             | 2044-02-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416S6R6<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1695634.43   | 0.45%             | 2044-07-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| SARTELL MN INDEP SCH DIST #748                 | Sartell-St Stephen Independent School District No 748                           | CUSIP: 803820MD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004399.60   | 0.27%             | 2046-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WAYZATA MN SENIOR HSG REVENUE                  | City of Wayzata MN                                                              | CUSIP: 946829BR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2598863.03   | 0.69%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNETONKA MN INDEP SCH DIST #                 | Minnetonka Independent School District No 276                                   | CUSIP: 604204ZR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $928705.95    | 0.25%             | 2044-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET                  | Minneapolis-St Paul Metropolitan Airports Commission                            | CUSIP: 603827L46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515829.35   | 0.41%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNEAPOLIS-SAINT PAUL MN MET                  | Minneapolis-St Paul Metropolitan Airports Commission                            | CUSIP: 603827L53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2719117.83   | 0.73%             | 2047-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAINT ANTHONY MN MF REVENUE                    | City of St Anthony MN                                                           | CUSIP: 787285BH7<br>LEI: 549300DDY05Y9DN3OM35 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250148.43    | 0.07%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN                 | City of Bethel MN                                                               | CUSIP: 086759AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1027294.84   | 0.27%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                 | Housing & Redevelopment Authority of The City of St Paul Minnesota              | CUSIP: 852297BY5<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $835153.30    | 0.22%             | 2047-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY                       | Minnesota Housing Finance Agency                                                | CUSIP: 60416S4C1<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |   4530000 | PA      | $3594165.42   | 0.96%             | 2040-01-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| MINNESOTA ST HSG FIN AGY HOMEO                 | Minnesota Housing Finance Agency                                                | CUSIP: 60416QHN7<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    794644 | PA      | $725307.21    | 0.19%             | 2049-06-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CLOQUET MN HSG FAC REVENUE                     | City of Cloquet MN                                                              | CUSIP: 189022CH7<br>LEI: 5493006V6FIYLT2MSR46 | Long             | DBT              | MUN               | US        |    500000 | PA      | $384872.00    | 0.10%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLAINE MN SENIOR HSG & HLTHCAR                 | City of Blaine MN                                                               | CUSIP: 092792AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1787432 | PA      | $983087.49    | 0.26%             | 2045-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** SIT MUTUAL FUNDS II INC

**Signature:** Paul Rasmussen

**Name of Signer:** Paul Rasmussen

**Title:** VP, Treasurer & Chief Compliance Officer