# EDGAR Filing Document

**Accession Number:** 0001479026
**File Stem:** 0000940400-26-020015
**Filing Date:** 2026-5
**Character Count:** 87812
**Document Hash:** 6a0e1d1088cacfd1c8856073a8b5a3a0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020015.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0000940400-26-020015

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260520

**DATE AS OF CHANGE**: 20260520

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Goldman Sachs ETF Trust
- **CENTRAL INDEX KEY:** 0001479026

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23013
- **FILM NUMBER:** 261003665

**BUSINESS ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198
- **BUSINESS PHONE:** (312) 655-4400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282-2198

## Series and Classes Contracts Data

### Goldman Sachs Ultra Short Municipal Income ETF (Series ID: S000085808)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000251203 | Goldman Sachs Ultra Short Municipal Income ETF | GUMI            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Goldman Sachs ETF Trust

- **b. Investment Company Act file number:** 811-23013

- **c. CIK number of Registrant:** 0001479026

- **d. LEI of Registrant:** 549300VEZF7K2ES5WL82

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

  - **Street Address 1:** 200 West Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10282

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Ultra Short Municipal Income ETF

- **b. EDGAR series identifier (if any):** S000085808

- **c. LEI of Series:** 9845007D7FAFEAB3FE70

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $23410160.17

**Total Liabilities:** $760930.36

**Net Assets:** $22649229.81

**Delayed Delivery Securities:** $104247.00

**Cash Not Reported:** $13953.81

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 289.12000000 | **1-Year:** 924.88000000 | **5-Year:** 93.72000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 48.87000000 | **1-Year:** 24.91000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251203 | 0.21%                | 0.16%                | 0.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $321.86                  | $-9468.02                                  |
| Month 2  | $0.00                    | $-13108.21                                 |
| Month 3  | $44.50                   | $9401.15                                   |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                   | CUSIP: 56682HBS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $81889.80     | 0.36%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL SCH BRD COPS   | School District of Broward County/FL                               | CUSIP: 115065ZH0<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45544.91     | 0.20%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                      | CUSIP: 66285WZH2<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35067.15     | 0.15%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH RE | New Jersey Economic Development Authority                          | CUSIP: 64577BKK9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120065.86    | 0.53%             | 2026-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SIOUX FALLS SD SALES TAX REVEN | City of Sioux Falls SD Sales Tax Revenue                           | CUSIP: 829594JR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50007.47     | 0.22%             | 2026-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE | City of San Antonio TX Electric & Gas Systems Revenue              | CUSIP: 79625GAE3<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102635.19    | 0.45%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                   | CUSIP: 709224LK3<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35000.00     | 0.15%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KALAMAZOO MI HOSP FIN AUTH     | Kalamazoo Hospital Finance Authority                               | CUSIP: 483233RC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25200.08     | 0.11%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CA PUBLIC FACS FING  | San Diego Public Facilities Financing Authority                    | CUSIP: 79730AJC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20024.27     | 0.09%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE FL TRANSIT REVENU | City of Jacksonville FL                                            | CUSIP: 469495DF9<br>LEI: 549300XQE0JVN9WV0J40 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35062.56     | 0.15%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST ECON DEV AUTH | West Virginia Economic Development Authority                       | CUSIP: 95648VBZ1<br>LEI: 549300WW88TKKF5H1220 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 2.21%             | 2065-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| WASHINGTON DC MET AREA TRANSIT | Washington Metropolitan Area Transit Authority Dedicated Revenue   | CUSIP: 93878YCW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $182658.67    | 0.81%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY KY SCH DIST FIN C | Fayette County School District Finance Corp                        | CUSIP: 312432C54<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125003.06    | 0.55%             | 2027-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX FLOOD CONTROL D | Harris County Flood Control District                               | CUSIP: 4140187N5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30569.59     | 0.13%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL WTR & SWR R | County of Miami-Dade FL Water & Sewer System Revenue               | CUSIP: 59334DQR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104299.29    | 0.46%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL SCH DIST SALES T | Pasco County School Board                                          | CUSIP: 70253QAX7<br>LEI: 549300NYEDMC7IDJPE68 | Long             | DBT              | MUN               | US        |     80000 | PA      | $81485.62     | 0.36%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC | Virginia College Building Authority                                | CUSIP: 92778VHU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65260.55     | 0.29%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL | Rhode Island Health and Educational Building Corp                  | CUSIP: 762244EP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $202159.32    | 0.89%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARKER CNTY TX                 | County of Parker TX                                                | CUSIP: 701060GZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45089.04     | 0.20%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA ST                     | State of Alabama                                                   | CUSIP: 010411AK2<br>LEI: 549300TKZX0YNENZC895 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140004.21    | 0.62%             | 2026-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CTFS        | Public Finance Authority                                           | CUSIP: 74448XAK8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    275000 | PA      | $275000.00    | 1.21%             | 2053-02-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                | CUSIP: 97712DQF6<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45398.52     | 0.20%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST DEPT OF HSG & CMNTY A | Texas Department of Housing & Community Affairs                    | CUSIP: 882750TD4<br>LEI: 549300J3RRLLZZN4WP77 | Long             | DBT              | MUN               | US        |    225000 | PA      | $225474.17    | 1.00%             | 2027-01-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority              | CUSIP: 708692BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400683.04    | 1.77%             | 2038-08-01      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| EL PASO TX                     | City of El Paso TX                                                 | CUSIP: 283734A84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30466.31     | 0.13%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                  | CUSIP: 452153BC2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    180000 | PA      | $184607.48    | 0.82%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                            | CUSIP: 717813TA7<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    105000 | PA      | $106641.16    | 0.47%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                       | CUSIP: 181059TY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30048.86     | 0.13%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri | CUSIP: 60637AVK5<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    155000 | PA      | $159469.46    | 0.70%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MUNI PWR AGY | North Carolina Municipal Power Agency No 1                         | CUSIP: 6582034K7<br>LEI: 549300N3Q65G1ODRFX75 | Long             | DBT              | MUN               | US        |     85000 | PA      | $86087.69     | 0.38%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEE CNTY FL NON-AD VALOREM REV | County of Lee FL                                                   | CUSIP: 52349AAT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $76517.74     | 0.34%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA                 | City of Los Angeles CA                                             | CUSIP: 544351SF7<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |    170000 | PA      | $172530.89    | 0.76%             | 2026-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                         | CUSIP: 59447TUL5<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50217.53     | 0.22%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND CNTY IL SCH DIST # | Rock Island County School District No 41 Rock Island/Milan         | CUSIP: 772436EA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $120000.00    | 0.53%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| N SUMTER CNTY FL UTILITY DEPEN | North Sumter County Utility Dependent District                     | CUSIP: 66272RBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $71096.54     | 0.31%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX INDEP SCH DIST    | Arlington Independent School District/TX                           | CUSIP: 0418264R6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $205734.36    | 0.91%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                | CUSIP: 97712DQG4<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30255.34     | 0.13%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA                 | County of Fulton GA                                                | CUSIP: 360046V94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70080.33     | 0.31%             | 2025-12-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEA FL ST JOHNS RIVER PWR PARK | St Johns River Power Park                                          | CUSIP: 46613QKA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100024.21    | 0.44%             | 2026-10-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU | Wayne County Airport Authority                                     | CUSIP: 944514TW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70017.63     | 0.31%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAYTON TX INDEP SCH DIST       | Dayton Independent School District                                 | CUSIP: 240091KK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50090.64     | 0.22%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHMONT IN SCH BLDG CORP     | Southmont School Building Corp                                     | CUSIP: 84455RBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45122.45     | 0.20%             | 2026-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MOUNT VERNON IL                | City of Mount Vernon IL                                            | CUSIP: 623385EX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $126241.93    | 0.56%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TX                      | City of Dallas TX                                                  | CUSIP: 235219US9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65318.00     | 0.29%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                | CUSIP: 64966Q2D1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35561.06     | 0.16%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST BRD OF PUBLIC BLDG | Missouri State Board of Public Buildings                           | CUSIP: 606341MC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $142681.42    | 0.63%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| APPLING CNTY GA DEV AUTH       | Development Authority of Appling County                            | CUSIP: 038315EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 1.32%             | 2038-01-01      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| PEORIA CNTY IL                 | County of Peoria IL                                                | CUSIP: 712855KH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45042.38     | 0.20%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL TOURIST DEV TA | County of Broward FL Tourist Development Tax Revenue               | CUSIP: 115085AE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104070.13    | 0.46%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN HLTH EDUCTNL &  | Chattanooga Health Educational & Housing Facility Board            | CUSIP: 162410CB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.44%             | 2039-05-01      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| KELLER TX INDEP SCH DIST       | Keller Independent School District/TX                              | CUSIP: 487694QX2<br>LEI: 549300BS0JDJPR8KUN68 | Long             | DBT              | MUN               | US        |     60000 | PA      | $60281.93     | 0.27%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAUKESHA WI SCH DIST           | Waukesha School District                                           | CUSIP: 943099FV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35016.47     | 0.15%             | 2027-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WAGONER CNTY OK INDEP SCH DIST | Wagoner County Independent School District No 17 Coweta            | CUSIP: 930546DU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35351.14     | 0.16%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                         | CUSIP: 45204ENE4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     70000 | PA      | $71020.10     | 0.31%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                         | CUSIP: 45204EET1<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    120000 | PA      | $123079.79    | 0.54%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WICHITA KS                     | City of Wichita KS                                                 | CUSIP: 967245QG9<br>LEI: 549300Y20JVN3VP2V718 | Long             | DBT              | MUN               | US        |    140000 | PA      | $141920.67    | 0.63%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH TRANSPRTN B | Virginia Commonwealth Transportation Board                         | CUSIP: 927793X87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101148.12    | 0.45%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER CNTY PA HOSP AUTH    | Lancaster County Hospital Authority/PA                             | CUSIP: 514045M67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $233562.29    | 1.03%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP  | Sales Tax Securitization Corp                                      | CUSIP: 79467BCS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204164.38    | 0.90%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL             | County of Miami-Dade FL                                            | CUSIP: 59333FF39<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30415.36     | 0.13%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                       | CUSIP: 181059UY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75923.25     | 0.34%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT CHARLES CNTY MO FRANCIS  | St Charles County Francis Howell R-III School District             | CUSIP: 7876426Q5<br>LEI: 549300N738JKL2CGSO59 | Long             | DBT              | MUN               | US        |    140000 | PA      | $140432.99    | 0.62%             | 2026-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST DEPT OF TRANSPRTN  | State of Maryland Department of Transportation                     | CUSIP: 574204A29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115009.67    | 0.51%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue        | CUSIP: 592647JV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $112088.50    | 0.49%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                | CUSIP: 64966G4P4<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.44%             | 2038-04-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REVENUE       | State of Ohio                                                      | CUSIP: 677561KC5<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55100.38     | 0.24%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A | New Jersey Housing & Mortgage Finance Agency                       | CUSIP: 6461087M6<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    400000 | PA      | $397465.72    | 1.75%             | 2027-11-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MACOMB CNTY MI                 | County of Macomb MI                                                | CUSIP: 554885L76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50007.32     | 0.22%             | 2027-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| MECKLENBURG CNTY NC            | County of Mecklenburg NC                                           | CUSIP: 584002VG1<br>LEI: 5493006G3IC5PBHB7A65 | Long             | DBT              | MUN               | US        |     45000 | PA      | $45371.48     | 0.20%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST TRANSPRTN BRD HIGHW | Arizona Department of Transportation State Highway Fund Revenue    | CUSIP: 040654WV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10148.38     | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OLDHAM KY SCH DIST FIN CORP    | Oldham County School District Finance Corp                         | CUSIP: 680454YU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20173.21     | 0.09%             | 2026-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                          | CUSIP: 45506DXC4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50217.35     | 0.22%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT OSAGE MO REORG SCH DIST # | Fort Osage School District No R-1                                  | CUSIP: 348199AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180056.34    | 0.79%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN | New Jersey Higher Education Student Assistance Authority           | CUSIP: 646080YZ8<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    300000 | PA      | $302337.33    | 1.33%             | 2056-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHAMPAIGN COLES ET AL CNTYS IL | Champaign Coles Et Al Counties Community College District No 505   | CUSIP: 158168HA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $107135.76    | 0.47%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS CNTY TX UTILITY & RECLA | Dallas County Utility & Reclamation District                       | CUSIP: 234839PJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100464.22    | 0.44%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEDHAM MA                      | Town of Dedham MA                                                  | CUSIP: 243667N24<br>LEI: 549300T2RPE961NCRY75 | Long             | DBT              | MUN               | US        |     40000 | PA      | $40041.84     | 0.18%             | 2027-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRINITY RIVER TX AUTH REVENUE  | Trinity River Authority                                            | CUSIP: 89657PGU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30054.47     | 0.13%             | 2027-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CUYAHOGA CNTY OH COPS          | County of Cuyahoga OH                                              | CUSIP: 23225PAX3<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102113.59    | 0.45%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                               | CUSIP: 20772KZT9<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |     40000 | PA      | $41262.02     | 0.18%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDFORD OR HOSP FACS AUTH REVE | Medford Hospital Facilities Authority                              | CUSIP: 584283GJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $81103.94     | 0.36%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAUKEE IA CMNTY SCH DIST       | Waukee Community School District                                   | CUSIP: 942833YA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $91059.91     | 0.40%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MINNESOTA AGRICULTURAL         | MINNESOTA AGRICULTURAL                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100011.00    | 0.44%             | 2026-02-25      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                      | CUSIP: 66285WWX0<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |     15000 | PA      | $15027.74     | 0.07%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                  | State of Washington                                                | CUSIP: 93974E6G6<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55225.13     | 0.24%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLESTON CNTY SC SCH DIST    | Charleston County School District                                  | CUSIP: 160075B97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $237461.18    | 1.05%             | 2026-05-07      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority              | CUSIP: 70870JAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $81629.87     | 0.36%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT NECHES-GROVES TX INDEP SC | Port Neches-Groves Independent School District/TX                  | CUSIP: 73474MPM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $165386.76    | 0.73%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA BRD OF RGTS ST UNIV SY | Arizona Board of Regents                                           | CUSIP: 04048RPZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70827.29     | 0.31%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU | County of Allen OH Hospital Facilities Revenue                     | CUSIP: 01757LGQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110000.00    | 0.49%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE UNIV PA OF THE CMWLTH S | Temple University-of The Commonwealth System of Higher Education   | CUSIP: 880178CH9<br>LEI: 549300SCHVPNNFRR3L71 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65464.56     | 0.29%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON CNTY KS PUBLIC BLDG CO | Johnson County Public Building Commission                          | CUSIP: 478497E30<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $142463.33    | 0.63%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST UNIV SYS FING REVENUE | Texas State University System                                      | CUSIP: 88278PUJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25075.22     | 0.11%             | 2026-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST TRANSIT AUTH SALES TAX | Utah Transit Authority                                             | CUSIP: 917565ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $92209.51     | 0.41%             | 2027-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE  | Metropolitan Transportation Authority                              | CUSIP: 59261ACE5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    250000 | PA      | $252350.40    | 1.11%             | 2026-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND CNTY OK EDUCTNL FACS | Cleveland County Educational Facilities Authority                  | CUSIP: 18604TEB0<br>LEI: 549300XEV4DVO42DUA84 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55922.89     | 0.25%             | 2027-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP  | Sales Tax Securitization Corp                                      | CUSIP: 79467BEC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $127602.74    | 0.56%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                         | CUSIP: 45204EKD9<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     50000 | PA      | $50094.66     | 0.22%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEMPHIS TN                     | City of Memphis TN                                                 | CUSIP: 586145F41<br>LEI: 254900N4APYJWTAF5J46 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75265.23     | 0.33%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST HLTH & EDUCTN | Massachusetts Health & Educational Facilities Authority            | CUSIP: 57586CV69<br>LEI: 549300MV50RWQFTX5223 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 2.21%             | 2037-12-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| PORT OF PORT ARTHUR TX NAV DIS | Port of Port Arthur Navigation District                            | CUSIP: 735225AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 1.32%             | 2033-05-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| KELLER TX INDEP SCH DIST       | Keller Independent School District/TX                              | CUSIP: 487694RM5<br>LEI: 549300BS0JDJPR8KUN68 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200323.02    | 0.88%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROCK ISLAND CNTY IL PUBLIC BLD | Rock Island County Public Building Commission                      | CUSIP: 772358CK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50000.00     | 0.22%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL SCH BRD COP | Palm Beach County School District                                  | CUSIP: 696550L83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $114118.90    | 0.50%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YUMA AZ MUNI PROPERTY CORP EXC | City of Yuma Municipal Property Corp                               | CUSIP: 98851UAL1<br>LEI: 549300FYH11KOMXWJA47 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20059.26     | 0.09%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EDINA MN INDEP SCH DIST #273   | Edina Independent School District No 273                           | CUSIP: 280659UD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100017.26    | 0.44%             | 2027-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SCH DIST #81 SCHI | Cook County School District No 81 Schiller Park                    | CUSIP: 214057GS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30000.00     | 0.13%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE UNIV PA OF THE CMWLTH S | Temple University-of The Commonwealth System of Higher Education   | CUSIP: 880178CJ5<br>LEI: 549300SCHVPNNFRR3L71 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25722.81     | 0.11%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH HOSP R | Idaho Health Facilities Authority                                  | CUSIP: 45129UCB8<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.44%             | 2048-12-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX INDEP SCH DIST      | Houston Independent School District                                | CUSIP: 442403RE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30892.72     | 0.14%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOUGLAS CNTY NE SCH DIST #1    | Omaha School District                                              | CUSIP: 259291MK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45084.05     | 0.20%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OH REVENUE       | County of Franklin OH                                              | CUSIP: 353202FK5<br>LEI: 549300VCBUC1RZE7KL42 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.44%             | 2046-12-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| CORNING NY CITY SCH DIST       | Corning City School District                                       | CUSIP: 219417VD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     34000 | PA      | $34288.04     | 0.15%             | 2026-06-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                | CUSIP: 97712DJV9<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    170000 | PA      | $170157.91    | 0.75%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH UNIV HLTH S | Virginia Commonwealth University Health System Authority           | CUSIP: 92778LBR0<br>LEI: 07ROV40HIZGU2Q6OXJ58 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20253.59     | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY TN HLTH & EDUCTN | Franklin County Health & Educational Facilities Board              | CUSIP: 353325FD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304843.80    | 1.35%             | 2027-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EL PASO TX DOWNTOWN DEV CORP S | El Paso Downtown Development Corp                                  | CUSIP: 283738AR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40562.62     | 0.18%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEORIA IL MET ARPT AUTH        | Peoria Metropolitan Airport Authority                              | CUSIP: 71319RCD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50000.00     | 0.22%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE     | Port of Seattle WA                                                 | CUSIP: 735389B56<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |    165000 | PA      | $169629.14    | 0.75%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SO | California Municipal Finance Authority                             | CUSIP: 13048RAJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    450000 | PA      | $449922.42    | 1.99%             | 2041-07-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| S MIAMI FL HLTH FACS AUTH      | City Of South Miami Health Facilities Authority Inc                | CUSIP: 838810DQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $41417.16     | 0.18%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HSG & MTGE FIN | Rhode Island Housing & Mortgage Finance Corp                       | CUSIP: 76221SLX7<br>LEI: 254900N9FNYNPO539444 | Long             | DBT              | MUN               | US        |    140000 | PA      | $139991.66    | 0.62%             | 2027-10-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| LEANDER TX INDEP SCH DIST      | Leander Independent School District                                | CUSIP: 521841N93<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $80383.05     | 0.35%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX                 | County of Harris TX                                                | CUSIP: 414005WG9<br>LEI: 549300G9BRP25M0W1S40 | Long             | DBT              | MUN               | US        |     70000 | PA      | $71088.06     | 0.31%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                  | CUSIP: 249182KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $224584.25    | 0.99%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| W HARRIS CNTY TX REGL WTR AUTH | West Harris County Regional Water Authority                        | CUSIP: 95308RJE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15020.16     | 0.07%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL MIDWAY ARPT REVENUE | Chicago Midway International Airport                               | CUSIP: 167562SY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $66290.58     | 0.29%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST HOSP EQUIPMENT& | Mississippi Hospital Equipment & Facilities Authority              | CUSIP: 605360TN6<br>LEI: 549300DW2GVUIGE04396 | Long             | DBT              | MUN               | US        |     95000 | PA      | $96393.82     | 0.43%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARASOTA CNTY FL UTILITY SYS R | County of Sarasota FL Utility System Revenue                       | CUSIP: 803321NG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40304.12     | 0.18%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| YAVAPAI CNTY AZ INDL DEV AUTH  | Industrial Development Authority of the County of Yavapai/The      | CUSIP: 985900EM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $116323.55    | 0.51%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST UNIV & AGRIC & ME | Louisiana State University & Agricultural & Mechanical College     | CUSIP: 546540PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75950.96     | 0.34%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL AVIATION RE | County of Miami-Dade FL Aviation Revenue                           | CUSIP: 59333PS82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25453.86     | 0.11%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST                   | State of Louisiana                                                 | CUSIP: 5464153T5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50852.32     | 0.22%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HOSP REVEN | Indiana Finance Authority                                          | CUSIP: 45471APX4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    205000 | PA      | $209004.24    | 0.92%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UPTON CNTY TX                  | County of Upton TX                                                 | CUSIP: 916813BK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50214.40     | 0.22%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSPA | Charlotte-Mecklenburg Hospital Authority/The                       | CUSIP: 160853UL9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    160000 | PA      | $160000.00    | 0.71%             | 2048-01-15      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE | City of Houston TX Combined Utility System Revenue                 | CUSIP: 44244CCH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35042.92     | 0.15%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                  | CUSIP: 452152G88<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    250000 | PA      | $255777.05    | 1.13%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH WASHINGTON CNTY MN INDEP | South Washington County Independent School District No 833/MN      | CUSIP: 840610SS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $70002.76     | 0.31%             | 2026-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                         | CUSIP: 59447TAL7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25036.75     | 0.11%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri | CUSIP: 60637APF3<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120514.56    | 0.53%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ UNIF SCH DIST | Maricopa County Unified School District No 89-Dysart/AZ            | CUSIP: 567423MS4<br>LEI: 549300BQUWR69ZZ87I66 | Long             | DBT              | MUN               | US        |     95000 | PA      | $95836.53     | 0.42%             | 2027-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP  | Sales Tax Securitization Corp                                      | CUSIP: 79467BEP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49936.15     | 0.22%             | 2027-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| METRO OR                       | Metro/OR                                                           | CUSIP: 59163PLV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5003.14      | 0.02%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL  | Connecticut State Health & Educational Facilities Authority        | CUSIP: 20774Y3P0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35445.82     | 0.16%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                  | State of Washington                                                | CUSIP: 93974DY51<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    135000 | PA      | $140594.40    | 0.62%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL SCH BRD COPS    | Orange County School Board                                         | CUSIP: 684517RF4<br>LEI: 549300SEFJ368NVQXL34 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65972.62     | 0.29%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                         | CUSIP: 45204ES82<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    135000 | PA      | $138563.20    | 0.61%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESSEX CNTY NJ                  | County of Essex NJ                                                 | CUSIP: 296804UC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50010.19     | 0.22%             | 2027-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAINT CLOUD MN HLTH CARE REVEN | City of St Cloud MN                                                | CUSIP: 78916VDK3<br>LEI: 549300IOO80ICGIWAU74 | Long             | DBT              | MUN               | US        |     85000 | PA      | $85734.74     | 0.38%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE       | Iowa Finance Authority                                             | CUSIP: 46246K5A6<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    195000 | PA      | $195694.14    | 0.86%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                               | CUSIP: 20772KDS5<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    120000 | PA      | $122316.70    | 0.54%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF ILLINOIS IL REVENUES   | Board of Trustees of the University of Illinois/The                | CUSIP: 9143536R3<br>LEI: 549300VD8PPC4Q5HK850 | Long             | DBT              | MUN               | US        |    110000 | PA      | $113502.27    | 0.50%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL SCH BRD COPS    | Orange County School Board                                         | CUSIP: 684517RG2<br>LEI: 549300SEFJ368NVQXL34 | Long             | DBT              | MUN               | US        |    180000 | PA      | $182728.04    | 0.81%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LENOIR CITY TN ELEC SYS REVENU | City of Lenoir City TN Electric System Revenue                     | CUSIP: 526138LN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $210161.66    | 0.93%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF TEXAS            | UNIVERSITY OF TEXAS                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199978.00    | 0.88%             | 2026-02-03      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                  | State of New Jersey                                                | CUSIP: 646039YY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $172270.49    | 0.76%             | 2027-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK PUBLIC FACS AUTH      | Tulsa Public Facilities Authority                                  | CUSIP: 899673CV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25000.37     | 0.11%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                       | CUSIP: 181059TD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $135121.76    | 0.60%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN | Port of Portland OR Airport Revenue                                | CUSIP: 735240Z89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $91046.91     | 0.40%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GTR LATROBE PA SCH AUTH        | Greater Latrobe School Authority                                   | CUSIP: 392100LK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65004.62     | 0.29%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PINELLAS CNTY FL SCH DIST      | Pinellas County School Board                                       | CUSIP: 723204AX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $186506.90    | 0.82%             | 2026-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP R | Monroe County Industrial Development Corp/NY                       | CUSIP: 61075TLW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15019.91     | 0.07%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                 | CUSIP: 64990GYH9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75411.91     | 0.33%             | 2026-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                    | State of Maryland                                                  | CUSIP: 574193LH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106056.94    | 0.47%             | 2026-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL  | Philadelphia Authority for Industrial Development                  | CUSIP: 71779QAJ1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |     75000 | PA      | $75000.00     | 0.33%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLEN CNTY OH HOSP FACS REVENU | County of Allen OH Hospital Facilities Revenue                     | CUSIP: 01757LFR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45679.35     | 0.20%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                       | CUSIP: 1810593S3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75923.25     | 0.34%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CTFS        | Public Finance Authority                                           | CUSIP: 74448XAS1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    225000 | PA      | $225000.00    | 0.99%             | 2052-12-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| LANE CNTY OR SCH DIST #4J EUGE | Lane County School District No 4J Eugene                           | CUSIP: 515300RK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $24839.58     | 0.11%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV                  | County of Clark NV                                                 | CUSIP: 180848RX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $76670.86     | 0.34%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORTAGE MI PUBLIC SCHS         | Portage Public Schools                                             | CUSIP: 735779MU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15149.37     | 0.07%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HOSP REVE | District of Columbia                                               | CUSIP: 254764JQ7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |     55000 | PA      | $55134.48     | 0.24%             | 2026-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN | Port of Portland OR Airport Revenue                                | CUSIP: 735240Z97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $226723.49    | 1.00%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SCH DIST    | School Board of Miami-Dade County/The                              | CUSIP: 59333RLV4<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100132.45    | 0.44%             | 2026-01-07      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAGINAW MI HOSP FIN AUTH       | Saginaw Hospital Finance Authority                                 | CUSIP: 786744HS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256663.38    | 1.13%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                            | CUSIP: 73358WJP0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35002.06     | 0.15%             | 2027-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PIMA CNTY AZ SWR REVENUE       | County of Pima AZ Sewer System Revenue                             | CUSIP: 721876TF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50677.68     | 0.22%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                   | State of Wisconsin                                                 | CUSIP: 97705MM44<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30305.68     | 0.13%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY MO COPS          | County of Franklin MO                                              | CUSIP: 352875EF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $20276.33     | 0.09%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EL PASO TX                     | City of El Paso TX                                                 | CUSIP: 283735AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $76209.20     | 0.34%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST SEVERANCE TAX    | State of New Mexico Severance Tax Permanent Fund                   | CUSIP: 6473103F6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $106466.01    | 0.47%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                               | CUSIP: 1675935K4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $132581.16    | 0.59%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILL CNTY IL CMNTY CONSOL SCHD | Will County Community Consolidated School District No 30 Troy      | CUSIP: 968717SJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $111161.47    | 0.49%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OSWEGO IL                      | Village of Oswego IL                                               | CUSIP: 688664QB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $235197.92    | 1.04%             | 2033-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEI | Tender Option Bond Trust Receipts/Certificates                     | CUSIP: 88035JW99<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.44%             | 2047-05-01      | Variable      | 2.91%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SCH DIST #405 BEL | King County School District No 405 Bellevue                        | CUSIP: 495098YT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10248.26     | 0.05%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA CNTY OK FIN AUTH EDUC | Oklahoma County Finance Authority                                  | CUSIP: 67868UFX6<br>LEI: 549300KPR05JUN0F1289 | Long             | DBT              | MUN               | US        |    120000 | PA      | $121949.39    | 0.54%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SCH BRD COP | School Board of Miami-Dade County/The                              | CUSIP: 59333MT70<br>LEI: 549300J3U4QVT6U3O129 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120447.50    | 0.53%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                  | CUSIP: 452152S44<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    130000 | PA      | $130000.00    | 0.57%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS MO MUNI FIN CORP S | St Louis Municipal Finance Corp                                    | CUSIP: 79165NBG8<br>LEI: 549300CR13DAYKUKQN03 | Long             | DBT              | MUN               | US        |     25000 | PA      | $25103.98     | 0.11%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX                     | City of Houston TX                                                 | CUSIP: 4423316G4<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    120000 | PA      | $123581.84    | 0.55%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                         | CUSIP: 45204EW38<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35484.58     | 0.16%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SCH DIST #100 BER | Cook County School District No 100 South Berwyn                    | CUSIP: 214399TT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $90000.00     | 0.40%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW BRAUNFELS TX UTILITY REVEN | City of New Braunfels TX Utility System Revenue                    | CUSIP: 642577TG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5008.35      | 0.02%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURLESON TX                    | City of Burleson TX                                                | CUSIP: 121385XL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $55086.71     | 0.24%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority              | CUSIP: 70869PLH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $192985.45    | 0.85%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON  | Metropolitan Government of Nashville & Davidson County TN          | CUSIP: 592112TW6<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10143.71     | 0.04%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANE CNTY IL SCH DIST #129 AUR | Kane County School District No 129 West Aurora                     | CUSIP: 483890RA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     80000 | PA      | $80266.51     | 0.35%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                   | CUSIP: 709224LL1<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65000.00     | 0.29%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD REVENUE           | City of Baltimore MD                                               | CUSIP: 059231ZL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30035.34     | 0.13%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLESTON CNTY SC SCH DIST    | Charleston County School District                                  | CUSIP: 160075D79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95471.93     | 0.42%             | 2026-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL SCH DIST       | School District of Broward County/FL                               | CUSIP: 115067MT4<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201530.54    | 0.89%             | 2026-06-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TULSA CNTY OK INDL AUTH EDUCTN | Tulsa County Industrial Authority                                  | CUSIP: 89952PEB7<br>LEI: 549300WEYXBXLGN1E271 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20031.96     | 0.09%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MTGE CORP MF | FHLMC Multifamily VRD Certificates                                 | CUSIP: 31350AAZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $385000.00    | 1.70%             | 2038-09-15      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| PORT OF PORT ARTHUR TX NAV DIS | Port of Port Arthur Navigation District                            | CUSIP: 735220AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 1.32%             | 2040-04-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CO | Mississippi Business Finance Corp                                  | CUSIP: 60528ACG7<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700000.00    | 3.09%             | 2035-11-01      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| UNIV OF KENTUCKY KY GEN RECPTS | University of Kentucky                                             | CUSIP: 914378LZ5<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |    120000 | PA      | $120571.84    | 0.53%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLARK CNTY NV SCH DIST         | Clark County School District                                       | CUSIP: 181059TC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35057.00     | 0.15%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| S FL WTR MGMT DIST COPS        | South Florida Water Management District                            | CUSIP: 83786PCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10075.02     | 0.04%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER NECHES VLY TX AUTH INDL  | Lower Neches Valley Authority Industrial Development Corp          | CUSIP: 548351AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.44%             | 2051-11-01      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| ALLEGHENY CNTY PA HOSP DEV AUT | Allegheny County Hospital Development Authority                    | CUSIP: 01728A3L8<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |     35000 | PA      | $35225.52     | 0.16%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-20

**Name of Applicant:** Goldman Sachs ETF Trust

**Signature:** Allison Frachiolla

**Name of Signer:** Allison Frachiolla

**Title:** Vice President Assistant Treasurer